People who are unfamiliar with sports betting may know the term ‘decimal’ with reference to odds. Decimal odds are a form of fractional odds in which the decimal point is included after the odds and before the payoff. For instance, a decimal odds line on a football game would look like this:
1.43 – Would Win (the team you support) | Would Place
1.42 – Would Win | Would Place
The decimal point in this case represents the fact that the first two numbers are each one thousand four hundredth of a unit. If you were to write down the odds on the left in your head, you would see that they are:
7,000 to 1
7,100 to 1
This example contains fractional odds because the decimal part is repeated for both the win and place amounts.
Decimal odds are often abbreviated to ‘dob’ or ‘dobl’ as in ‘7,000 Dob’, ‘7,100 Dob’, or ‘7,000/1 Dob’. You may also see odds written out in full with the decimal points included like this:
1.43 – Would Win (the team you support) | Would Place | (1.42 – Would Win | Would Place)
In general, when people bet on sporting events, they will look for odds that are as low as possible. This is because they want to maximize their winnings. However, when people bet on lottery games or casino games, this is typically not the case as they are more interested in minimizing their losses.
The opposite is also generally true when it comes to placing a bet. People who are more experienced in betting usually prefer to use odds that are as high as possible to minimize their losing bets. This is commonly referred to as ‘bluffing’ or ‘blocking’ the bet. For example, if you were to place a $10 bet on the New York Jets at 1.65, you would be placing a $6.50 profit on a $10 bet. In this case, you would be better off waiting until the odds changed before placing a bet or dropping the bet and waiting for a better offer.
Fractional Versus Decimal Odds
Decimal odds are more readable for people who are unfamiliar with betting, but this comes at the cost of being less accurate. The problem is that many sportsbooks and betting websites use decimal odds and then ‘round’ the numbers up or down to make them more appealing to clients. For example, if you were to enter 1.42 into a sportsbook, the odds would likely round down to 1.4 or 1.5 which may not be what you were expecting. Inaccurate odds can lead to incorrect winnings or losses when playing casino or lottery games.
Most sportsbooks and betting websites use decimal odds because it makes it easier for them to offer attractive odds to their customers. The problem is that if you are not used to dealing with decimals, it is difficult to know how much each successive round of decimal subtraction will impact your winnings or losses. It is therefore recommended that you avoid decimal odds unless you are certain that the book you are using will correctly state the odds in decimal format.
When Do You Use Decimal Odds?
Decimal odds are usually used in conjunction with ‘teasers’ or early match odds to make them more attractive to potential customers who are unfamiliar with betting but want to place a bet on the match. The issue with teasers and early match odds is that they are generally only good for the first few minutes or the first few legs of the match. After the early odds change, you will generally be given ‘lockers’ or late match odds which more accurately reflect the true probability of the winner of the match. If you are using a mobile device, accessing lockers or odds that are not displayed in decimal format can be difficult because the numbers are not easily readable due to the small size of the screen. It is recommended that you use decimal odds for the entire duration of the match unless there is a huge discrepancy between the early and late odds in which case, you may want to consider dropping your wager and finding another book that uses the lockers or standard odds. This way you can be sure that your winnings will be correctly represented by the odds you are seeing.
How Do You Calculate Fractional Odds?
Fractional odds are calculated by performing the same steps as when calculating decimal odds with the exception that you do not include the decimal point when totaling the odds. Instead, you will simply add a decimal counter to the end of each whole number before performing the subtraction to determine the winners. The main advantage of using fractional odds is that you can quickly see how much each round of subtraction will impact your winnings or losses without having to check your work. The disadvantage of using fractional odds is that if you are not familiar with how to calculate these types of odds, it can be difficult to determine the exact outcome without doing some computations yourself. For example, if you were to use 1.4 as the odds of a certain team winning, you would simply add 0.4 to 1.4 to arrive at the total of 2.4. This is then subtracted from the win amount (in this case 2) to determine your winnings or losses. If you ever have questions regarding the proper calculations for fractional odds, there are always people available to help 24/7 via phone or chat on various betting platforms.
What Is The Difference Between The Two?
Aside from the fact that fractional odds are sometimes rounded to make them more appealing to customers, the main difference between decimal and fractional odds is their calculation method. With decimal odds, you always start with the first number and subtract the second to arrive at the final value. In the case of fractional odds, you add each successive number together and then subtract the previous to obtain a final value. For example, in the case of 1.4 vs. 1.5, you would start with 1.4 and add 1.5 to arrive at a total of 3.04 which is then subtracted from 1.4 to arrive at a final value of 1.6. The same process is followed when calculating the other way around (1.5 – 1.4 = 0.1 → 1.4 – 1.5 = 0.1 or 1.5 – 1.4 = 0.1 → 1.4 – 1.5 = 0.1). You must always use the same base unit for both the first and second numbers when performing the subtraction.
In general, when it comes to betting, the lower the odds, the better. This is because higher odds mean that you stand a better chance of winning your bet. However, when it comes to certain types of bets like casino games or lotteries, the higher the odds, the better as these types of bets are designed to offer more value. In order to properly calculate your winnings or losses, you must know how much each successive round will impact the outcome of the bet. If you are not certain, it is often best to avoid using decimals and go with a more traditional set of odds that are not subject to change because of rounding errors. Inaccurate odds can lead to incorrect winnings or losses when playing casino games or lotteries.