iGaming Glossary

Betting odds are numerical representations of the probability of a certain outcome in a sports or event. They are used by bookmakers and betting sites to inform bettors of the potential payout for a particular wager.

Odds can be expressed in different formats, such as decimal, fractional, or American, but they all provide information on the amount of money a bettor can potentially win from their wager.

The odds reflect the perceived likelihood of a particular outcome, with higher odds indicating a lower probability of winning and vice versa. Understanding odds is essential for anyone looking to place bets on sports or events.

Odds are generally displayed in 1 of 3 ways: Fractional, Decimal or American.

For example:
- Fractional odds of 3/1 would provide a 300% profit.
- Decimal odds of 1.20 would provide a 120%. profit.
- American odds of +250 would provide 250% profit.