Gambling has been around for quite a while, but it took off once odds came into play, because they made it possible for players to enjoy a just return on investment. In the absence of odds, it would be virtually impossible to place most of the wagers, because nobody would bet on the underdogs.

Online bookmakers have diversified their offer and the odds are reflecting the difference of strength between competitors as well as the chances for an outcome to happen.

Standard types of odds

Players can wager with virtually any bookmaker, as long as these gambling operators don’t impose restrictions on certain countries. This makes it essential to get familiar with the three types of odds, because even though they trigger the same return on investment, they look very different.

European odds are also commonly referred to as decimal odds, are expressed in a format that looks like 1.20, 2.00, 3.50 and so on. They are the most straightforward once, as they greatly simplify the process of calculating profits, in regard to the chosen stake.

English odds, also known as fractional odds look like this: 3/5 or 7/4 and can be easily converted into European odds by dividing the numbers and adding the number One. Those who are familiar with one type of odd, will have no problem in calculating profits when betting in decimal or fractional format.

American odds look even more different, with numbers such as -120 and +140, depending on whether the punter bets on the underdogs or favorites. Calculating the profit is done by using two different formulas, depending on whether the odds are expressed as negative or positive numbers. Stake x (1 + 100/American odds) is used for negative numbers and Stake x (1 + American odds/100) for positive.

Asian Handicap odds

These types of odds have a two-pronged effect, on one hand allowing players to boost profits and the payouts revolves around values of 98%, compared to only 92% for standard odds. On the other hand, they simplify matters as they remove the possibility of a draw, when the players wager on a 0:0 Asian handicap. It is known as the Draw no Bet line, as the stakes are returned if the game ends undecided.

Split Asian handicaps are slightly different as they look like “0.75”, "3/4" or "0.5, 1" and are basically standard bets split into two wagers. Players who bet on the favorite will win the maximum amount if the team wins by two goals or more, or half the profits if they prevailed by a narrow margin.