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Decimal betting odds of 2.40 therefore equate to American odds of +140, and you can use this betting odds calculator to quickly work that out. Using BMR’s betting odds and scores product, you might find odds of -160 on the Cincinnati Reds to beat the Pittsburgh Pirates, and +140 on the Pirates winning the game. This odds converter calculator allows sports bettors to quickly and accurately convert odds from one format to another. The odds are set based on the implied probability of the outcome, such as a horse winning a race, or a football player scoring a goal. With a -500 price (1.20 decimal or 1/5 fractional) your successful bet with a £100 stake gives you a £20 profit, so £120 total returns.

Relative precision

• All bet types explained – Read about all the different kinds of bet, what they are comprised of and how they are calculated.
• Generally it’s easiest  to understand odds that are presented as ratios.
• As you can see, American odds carry a plus sign if they are odds against and a minus sign to show a bet is odds-on.
• The odds for that leg will be calculated as 1.0 when working out your returns.
• In racing, 21/10 odds usually reflect a second or third favourite in the betting.
• In markets like horse racing or golf, you could bet each-way at 21/10, especially if the place terms are generous.

In sports betting, it’s always important to shop around for the best odds. In betting odds, the probability of 20% (or one in five) is expressed in one of three ways. So how do betting odds work, and how can you calculate your winnings?

Understanding “Odds 21/10” in Betting: A Complete Guide

This asymmetry is unappealing because ideally the odds for males would be the opposite of the odds for females. As we saw in our example above, an OR of 2.0 indicates the same relative ratio as an OR of 0.50, an OR of 3.0 indicates the same relative ratio as an OR of 0.33, an OR of 4.0 indicates the same relative ratio as an OR of 0.25 and so on. So another way of looking at this is that the odds for each gender can be expressed as a constant multiplied by a gender specific multiplicative factor (namely the OR). Extension D provides a table that shows the equivalence between ORs in the range 0 to 1 with those in the range 1 to infinity. Note that the way odd-ratios are expressed depends on the baseline or comparison category. If however the odds differ then the OR will depart from 1.

To sum it up, you’ve learned the essentials of rugby betting odds. Now that you know how to read different odds formats, you’re ready to grasp the concept of implied probability. The most common ones are the match-winner, handicap betting, and over/under bets. Every set of odds reflects an implied probability – in other words, what the bookmaker thinks are the chances of that outcome happening. You won’t win every time, but with good research, patience, and discipline, these bets can be highly profitable. Over time, consistently spotting these discrepancies can lead to profit, even if you lose more bets than you win.

They suggest a odds to percentage probability of around 32%, and you’ll often find them when there’s no clear favourite – especially in sports like football, tennis, or racing. The odds will be expressed as a decimal though – 3.10. 21/10 means you get £21 back in profit for every £10 staked, while 2/1 gives you £20.