They will estimate the probability of an event taking place and based on their prediction, will display odds.įor example, if Senegal were thought to have a low chance of winning the World Cup, the odds for it to happen would likely be a round 80/1, showing the slight chance of it occurring and the high potential payout a bettor would receive were it to happen. The odds are calculated by the bookmaker. If the bettor wins their predicted outcome materialises they will take seven times their bet from the bookie (in this case).įor example, if you were to stake £1 then you would receive £8 back from the bookmaker in this case – £7 profit plus your initial stake. For example, England to win the World Cup is 7/1 with William Hill at the time of writing this article.īetting odds are the ratio between the amount staked by the bookies and the bettor, so 7/1 means the bookies stake seven times the amount the bettor has wagered. They may find that utilising multiple formats aids their betting success more than relying on one kind.īetting odds are the odds on a particular outcome and are determined by the bookmaker. A lack of comprehension of the basic fractional or decimal odds could lead to losses by placing a wager you thought was something else.Įven bettors that are experienced using one format of odds, fractional, for example, can benefit from understanding the full spectrum of betting odds. It is essential to understand how betting odds work when preparing to make a bet. 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. Welcome to this William Hill guide on betting odds.

Understanding online betting odds