If you are planning to start betting—be it gambling, sports betting, or any other type—it’s important to understand the odds. It would be preposterous and absurd to think about placing bets without having a good grip on the main types of betting odds and the ability to read and interpret the various associated
The three main types of betting odds are fractional (British) odds, decimal (European) odds, and American (money line) odds. These are simply different ways of presenting the same thing and hold no difference in terms of payouts. This means that a chance of an event occurring can be converted and presented in any of the aforementioned types of odds.
How Fractional Odds Work
Fractional odds (aka British odds, UK odds, or traditional odds) are popular among British and Irish bookies. These are typically written with a “slash (/)” or a “hyphen (-),” e.g. 6/1 or 6-1 and announced as “six-to-one.” Fractional odds are used by some of the world’s largest bookmakers, making them the most preferred odds across the globe.
A fractional listing of 6/1 (six-to-one) odds would mean that you win $6 against every $1 you wager, in addition to receiving your dollar back (i.e., the amount you wagered). In other words, this is the ratio of the amount (profit) won to the initial bet, which means that you will receive your stake ($1) in addition to the profit($6), resulting in a total payout of $7. Therefore, if you stake $10 at 6/1, you get a total payout of $70 ($60 profit + $10 stake).