In Europe and sometimes in Canada, sports betting odds are displayed in a decimal format. In this guide, we’ll use examples from the NHL and NFL to help you get a handle on the basics.
What Are Decimal Odds?
Decimal odds show how much money you’ll receive for a winning bet, including the amount you originally staked. The number you see is the total amount you’ll get back for every dollar you bet.
- If the odds are 2.00, you’ll double your money.
- Odds higher than 2.00 indicate the team is considered the underdog.
- Odds lower than 2.00 suggest the team is the favorite.
Let’s take a look at an example.
Imagine you want to place a bet on an NHL game between the Toronto Maple Leafs and the Boston Bruins. The decimal odds might look like this:
Toronto Maple Leafs: 1.80
Boston Bruins: 2.10
Let’s now break down what those numbers mean.
Betting on the Maple Leafs: If you bet $100 on the Toronto Maple Leafs with odds of 1.80 and they win, you would receive $180 in total. This includes your original $100 plus $80 in profit. 100×1.80=$180
Betting on the Bruins: If you bet $100 on the Boston Bruins at odds of 2.10 and they win, you would receive $210 in total. This includes your original $100 plus $110 in profit. 100×2.10=$2101
In this scenario, the Maple Leafs are the favourites because their odds are lower. The Bruins are the underdogs, which is why their odds are higher, offering more profit if they win.
Let’s look at an NFL example with the Green Bay Packers and the Chicago Bears. The odds might be:
Green Bay Packers: 1.50
Chicago Bears: 2.75
Betting on the Packers: If you bet $100 on the Packers at odds of 1.50 and they win, you would get $150 in total. This includes your original $100 plus $50 in profit. 100×1.50=$150
Betting on the Bears: If you bet $100 on the Bears at odds of 2.75 and they win, you would get $275 in total. This includes your original $100 plus $175 in profit. 100×2.75=$275
Here, the Packers are the favourites, which is why their odds are lower, giving you less profit if they win. The Bears are the underdogs, offering higher potential profit if they manage to win.
