7 Simple Comparisons

For example, for a football match, you could bet on goals scored, yellow cards, fouls, corners in the first half or the final score. Each outcome will have been priced up individually based on the probability of it happening. You will likely come across fractional odds first when looking for betting odds. Fractional odds, for example, show us our potential winnings if we wager the corresponding stake. The number on the left-hand side is your winnings if you were to stake the figure on the right-hand side. For example, with odds of 10/1, £10 would be your winnings if you placed a £1 bet and won. To read the betting odds, click on the event you are interested in and take note of the odds listed. They will be fractional, in decimal or American format, each of which will be explained below. Fractional odds use a fractional format to display possibility of an event happening. This is one of the most straightforward ways of determining how much you will win from a bet and is a quick and simple way to understand the probability of an event happening.

Here are some examples of fractional bets, how they would work and how much the bookies will pay out for a win. 3/1 – Bookies pay £3 for every £1 staked 15/2 – Bookies pay £15 for every £2 staked 3/5 – Bookies pay £3 for every £5 staked 1/1 – Bookies pay £1 for every £1 staked The first two bets are called “odds-against” bets: a scenario where the bookie thinks the event is more likely not to happen – the bookie is betting against an event occurring and that it is unlikely. The third one is an “odds-on” bet: a scenario where the bookie thinks the event is likely to happen. When both numbers are the same (last example), this is an “evens” bet: a 50/50 bet.

Key Takeaways

It is to help bettors make informed decisions by identifying the best available odds for your bet. Betting odds represent the probability of a particular outcome. The bookies all construct their books based on percentage probability and understand it fully, we as punters need to do the same. The bookmakers are in business to make a profit. They build in a profit margin on all events, this is called the overround.

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In a two runner race the true odds are 1/1 or even money - 50/50. (100%) The bookmakers instead of offering the true odds of 1/1 will offer both competitors at odds of 10/11, that comes to (104.72%). The 4.72% is their profit margin. The bookmakers instead of offering the true odds of 1/1 will offer both competitors at odds of 10/11, that comes to (104.72%). Using an odds comparison tool should be part of your betting life but just as important is to be responsible when gambling. In this scenario you would double your stake if placing a winning bet. Before making a bet, a bettor may want to take into account the profit and their wager to work out the percentage return if they win.

For example, odds of 3/1 would provide a 300% profit as the payout from the bookie, as well as 100% of the money wagered. If the bettor wagered £10 and won, their profit would be £30 + the bet of £10 = a return of £40. To convert fractional odds to percentages, use the formula (x / y) * 100 with x/y representing the fraction. A bet of £10 with the odds 7/3. Add the wager to the won amount = £33.33 return.

When presented with fractional odds, it can sometimes be very easy to determine the probability of an occurrence, but at other times it might not be so simple. Knowing the probability of an outcome can be essential to bettors who are perhaps not as well informed on a certain event, so if you want to put a bet down but would like to understand how likely the outcome is with data and a fixed probability, use the formula (y / (x + y)) * 100 where odds equal x/y.

Football Odds Comparison

If the bettor wins; their predicted outcome materialises; they will take six times their bet from the bookie (in this case). For example, if you were to stake £1 then you would receive £7 back from the bookmaker in this case – £6 profit plus your initial stake. The odds are calculated by the bookmaker. They will estimate the probability of an event taking place and based on their prediction, will display odds. William Hill offers the reader and bettor the opportunity to request their own odds.

Real-time Price Comparison

Through the popular #YourOdds on Twitter, punters can request odds on an outcome not listed by the bookie at the time and be one of the first to place a bet on a specific outcome of their choice. The social media team will pass on the punter’s requests to the traders upstairs, and if the request is approved, the punter will be able to bet on their own fully customised odds on the day they requested them before anyone else. You are looking for odds on something you want to bet on? On William Hill’s website, you will find the odds you are looking for and a breakdown bet betting sites with free spins welcome bonus of what the odds are for specifically. William Hill offers odds for many different aspects of an individual event. Odds: 3/1 (1 bet best odds comparison sites uk / (3 + 1)) * 100 (1 / 4) * 100 0.25 * 100 25% probability of winning Odds: 7/3 (3 / (7 + 3)) * 100 (3 / 10) * 100 0.3 * 100 30% probability of winning Odds 1/1 (1 / (1 + 1)) * 100 (1 / 2) * 100 0.5 * 100 50% probability of winning which is why odds of 1/1 is called “evens”. It is always worth considering that the odds displayed and offered by bookies are always probability based and can never be made as a guarantee that a certain event will happen. Now that you have a good understanding of fractional odds and probability and are ready to start weighing up individual bets. William Hill provides unmatched betting odds across sports, television, politics and more. Another format of odds that is popular among punters is decimal odds. Decimal odds use a decimal format to display the stakes and are usually utilised for a quick view of the probability of an event.

• Comparing early odds for Oscar award categories across prediction markets
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Decimal odds also make it easier for punters to compare odds without complicated mathematical formulas and allow for a quick view of potential winnings. The higher the number, the higher the potential winnings. The William Hill website allows bettors to choose between their preferred odds format, be that decimal or fractional. To work out winnings, you need to multiply the stakes by the odds: 2.00: Bet £3, win £6 (equivalent to 1/1 evens) To calculate the winning percentage when betting with decimal odds, multiply the decimal by 100 to get the percentage. This percentage is not the profit but the amount wagered.

Conclusion – Who offers the best football betting odds?

This is a particularly good tool for trading. The bookmaker with the best odds in general, if not looking to specialise is a specific sport, or market, would be bet365 who day in day out offer great odds on all types of sports, events, and specialised betting markets from their betting website. Yes, bigger odds are better when making bets on an event to happen. If you back something at 2/1 when you could have bet at 3/1 then, it would be a bad decision. This situation is reversed if you are playing the bookmaker, perhaps on a betting exchange, where you want to 'lay' bets at lower odds.

Have a bet on:

There are two options if you are looking for the best odds on horse racing. Firstly, using a betting exchange is one way of getting, in general, better odds than using a traditional bookmaker. Betfair SP consistently outperforms the normal industry starting price. The other way of finding the best odds on horse racing is using an odds matrix. On OLBG we researched and discovered the best bookie for horse racing. For example, a bettor wages £10 with the odds at 1.20. 1.20 * 100 = 120% £10 * 120% = £12 The bettor wins 120% of their original wager back with a successful bet. To convert decimal odds to a probability you need to take into account the value of the decimal.

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Odds of 2.00 is the same as a 50% chance of winning. Odds above 2.00 has a lower than 50% chance of winning and vice versa. To turn decimal odds into probability, use the formula 100/odds. For example, if the team’s odds of winning is 6.00, the probability of them winning is 100/6, which equals 16.7%. Always remember that the odds displayed and offered by bookies are always probability based and should never be interpreted as a guarantee that a certain event will happen. Use what you have learnt and Check out William Hill’s latest sports betting odds. American odds are also called money line or US odds.

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• Analyzing odds for public health metrics and disease outbreak predictions

These are the odds format primarily used in the US and will rarely get adopted by bookmakers from the United Kingdom. They can be confusing compared to fractional or decimal odds until you have got the hang of them. They are displayed with either a positive or minus number: A positive number indicates how much profit you will get if you bet £100. Indicates what you must bet to make £100 profit.

Connections with other material

On OLBG we always advise you bet within your means and have a range of helpful articles dedicated to this. Welcome to this William Hill guide on betting odds. Here you will learn everything there is to know about betting odds, how to read different configurations, the best ways to utilise your preferred format, and how to convert betting odds. It is essential to understand how betting odds work when preparing to make a bet. A lack of comprehension of the basic fractional or decimal odds could lead to losses by placing a wager you thought was something else.

Related pages

Even bettors that are experienced using one format of odds, fractional, for example, can benefit from understanding the full spectrum of betting odds. They may find that utilising multiple formats aids their betting success more than relying on one kind. Betting odds are the odds on a particular outcome and are determined by the bookmaker. For example, England are one of the leading contenders at 6/1 to win the 2026 World Cup. Betting odds are the ratio between the amount staked by the bookies and the bettor, so 6/1 means the bookies stake six times the amount the bettor has wagered. Here are some examples of US bets, how they would work and how much the bookies will pay out for a win. +250: Bet £100, win £250, profit £350 +250: Bet £10, win £25, profit £35 -125: Bet £125, win £25, profit -£100 -125: Bet £10, win £2, profit -£8 To convert US odds to percentages, use these rules: The odds themselves are the profit therefore the percentage of return is the odds + 100% of the wager.