The decimal number represents the exact payout, and that includes the initial wager as well as the profits from a winning bets. The decimal employed represents the amount the successful bettor wins for each dollar wagered. If you wager $20 at odds of 5/1, you will earn a profit of $100 and get your $20 bet back, for a full return of $120.ĭecimal odds are popular in Great Britain, Australia and some other countries. The 5/1 demonstrates the profit you will receive compared to every dollar you wager. American and British/European Odds FormatsĪmerican odds of 5/1 odds would mean that you win $5 for every $1 you wager and you get your original bet back. With more states legalizing sports betting, understanding how to read odds is becoming ever more important.They are used more frequently used in British futbol than in American sports, and Americans who have taken a liking to European soccer will see these odds more frequently.

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Understanding odds in sports betting