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The odds are used to calculate the profit associated with a bet. It is the inverse of the probability of an outcome. The lower the odds, the higher the probability of an outcome: Odds = 1 / Probability.
The different types of odds
European odds: These are odds in the form of a whole number or a decimal number (e.g. 1.5 or 3). To calculate the gain from the European odds, use the formula:
= Bet amount x (Odds – 1)
English or fractional stake: This is a stake in the form of a fraction (e.g. 1/2 or 2/1). In order to calculate the profit associated with an English quota, use the following formula: Profit = Bet amount x Quota.
American stake: This is a stake that can be expressed as a positive or negative number (for example : -200 or 200). Negative odds indicate the stake required to obtain a profit of 100; positive odds indicate the profit corresponding to a stake of 100. To calculate the profit linked to an American stake, use the formulae: Gain = Amount wagered x 100 / (-share) for negative odds OR Gain = Amount wagered x 100 /share for positive odds