Reading Odds: Decimal Format

The other way to view odds on WiseStats is using the Decimal format, which is more commonly used in the UK and Europe. For people just learning how to read odds, this is arguably the easier format to understand. But decide for yourself!

Every set of odds displayed using the American format has an equivalent value using the Decimal format (and vice versa). So, using the same example as before (Cleveland +180 Toronto -220), here is the corresponding Decimal value:

Cleveland 2.80
Toronto 1.45

Decimal odds are called that because, well, they are provided as a number followed by 2 decimal places! The number will never be below 1.00. 

Using Decimal odds, the underdog is the team with the higher of the numbers, making the favorite the team with the lower of the two numbers. Again, pretty straightforward!

If you were to risk 220 on Toronto again at odds of 1.45, you simply multiply the amount you risked (220) by the odds (1.45). The result is 320, which includes the 220 you risked, leaving you 100 in profit.

Notice that this is the exact same result as looking at it in American format with odds of -220? In both instances, you risked 220, and made 100 in profit.

With Cleveland, risking the same 100 as before at odds of 2.80 would return you 280 (100 * 2.80). This includes the 100 you risked, so that leaves you with 180 in profit - the exact same result as when the odds were shown as +180 in American format.

Takeaway: multiply the decimal odds by the amount you are risking to calculate how much will be returned to you if you win, which includes the amount you risked and the profit.

Bonus: WiseStats will let you decide which odds format you prefer to look at, and it will automatically convert the odds you see into the format you want to see them! So, which odds format will you use to look at odds with your Free WiseStats Account?