# Understanding Odds

When you first enter the world of sports betting, understanding how odds work and what they do can be a bit of a challenge. It's important to understand what each of the different types of odds means before placing any bets on events. Here's a quick guide on what odds mean, and how you can calculate returns.

**What are odds?**

Put simply, odds, or the price of a bet selection, refer to the likelihood of your bet winning. They are simply a way of demonstrating the probability. The higher the odds, the less chance a bet has of winning, but the higher your returns if it does.

**How do I calculate the probability of my bet winning from the odds?**

Calculating how likely your bet is to land, based on the odds is quite simple to do with the following formula:

**100 divided by Decimal Odds**

...or if you're using fractions such as 6/4 where 6 is A and 4 is B (A/B), convert your fractional odds to decimal by doing A divided by B + 1.

*Example:*

- A bet at 5.00 decimal odds - 100 divided by 5 = 20, so your bet has a 20% chance of winning
- A bet at 8/5 fractional odds - 8 divided by 5 + 1 = 2.60 - 100 divided by 2.60 = 38.46, so your bet has a 38.46% chance of winning

**What are the different types of odds?**

- Fractional Odds - odds are shown as a fraction. For example, 4/6 or 2/1. Returns are calculated by dividing the first number, by the second number, multiplying by the stake and adding the stake again
- Example: £10 at 6/5 = 6 divided by 5 = 1.2 x 10 = £12 + £10 = £22

- Decimal Odds - odds are shown as a decimal. For example, 1.83 or 8.50. Returns are calculated by multiplying the stake by the odds.
- Example: £20 at 3.00 = £20 x 3 = £60

- American Odds - generally not used in the UK but American Odds show the amount that would need to be wagered to return £100.

**Can I change the type of odds format I use on site?**

Yes, of course! All you need to do is go to the Settings tab at the bottom of the page, and then choose your Odds Format from here.