The challenge of moving from American odds vs. decimal odds vs. fractional odds can be overwhelming to a new gambler that is simply trying to place a bet on the NFL. While feeling stonewalled and confused is a normal reaction to this montage of math and figures, with a little bit of insight you will be able to place a NFL wager like a pro. Getting a handle on NFL betting odds requires a basic explanation of each type and the ultimate piece of advice that helps you get it right every time.
NFL Betting Odds Definitions
Identifying American odds vs. decimal odds vs. fractional odds
When you are wagering online, you will see the NFL teams you want to wager on next to a set of numbers. To work the math for American odds vs. decimal odds vs. fractional, you will need to understand which ones you are looking at. Simply put, the American odds will have a “+” or “-“, the fractional odds will have a “/”, and the decimal odds will have numbers separated by “.”.
American odds vs. decimal odds
American odds are also referred to as “money lines” and they are not as intimidating as they first appear. The reason the numbers are so large is due to the fact that they are based on a stake of $100 as opposed to $1. For example, the Dallas Cowboys are listed as +150. This means that if you make a bet for $100, you will net an additional +150 if you win. If the Indianapolis Colts are -180, then you will profit $56 if you win. In decimal odds, a +150 is 2.50 and -180 is -1.20.
Are you curious about the math? When converting American odds to decimal odds, you will need to add 100 to the decimal odds and divide it by 100. For instance, +120 will be 2.20 in decimal odds. For -120, divide it by 100, take the inverse, and add 1. This means that -120 is -1.80 in decimal odds.
Problematic uses of American odds vs. decimal odds vs. fractional odds
Today, it is common to reference odds in everyday life. For instance, we may say that we think that there is a “one in four chance” of it raining tomorrow. This is an informal example of using fractional odds. Unfortunately, when you try to convert those odds to between the American odds vs. decimal odds vs. fractional odds, you can start to get turned around. Simply put, next to decimal odds, the fractional odds will look like 1/10 = 1.10, 1/1 = 2.00, and 5/1 = 6.00.
When you place American odds vs. decimal odds vs. fractional odds in a row, they look like this:
-200 = 1.5 = 5/10
-134.67 = 1.75 = 3 /4
1,000 = 11.00 = 10/1
Are fractional odds worth it?
In the racecourse world of England, there has been a move to get rid of fractional odds. Part of this is due to the fact that the authorities feel that fractional odds alienate the young people they want to see at the track. Since everyone is more comfortable with decimal odds, the likelihood of seeing fractional odds again is slim.
Unfortunately, now that the page of history is turning, some of the quaint phrases associated with the fractional odds system will also be lost. Regardless, this certainly puts a rest to one of the more complicated versions of the American odds vs. decimal odds vs. fractional set.
Other types of odds used
Is it possible that there are more than one set of odds used? In fact, there are three other odds in place the most Europeans and Americans and never heard of. These systems are commonly found in Asia and are named for the countries they are used in. While they are very similar to the decimal the odds system, the Malaysian odds, Hong Kong odds, and Indonesian odds all differ from each other.
Due to the ancient nature of gambling, do not be surprised if you hear of yet another form of odds outside of these six. Despite this, the likelihood that you will find a seventh type of odds on the internet are low.
American odds vs. decimal odds vs. fractional odds for dummies
For some of us, we cannot remember multiplication tables, and, therefore, using abstract thinking for odds when you are trying to place at wager is too much information to handle. Do not be concerned if you feel like giving up on American odds vs. decimal odds vs. fractional odds. Instead, keep your hope alive by using two basic online tools that will ameliorate the situation.
The first way to slay the American odds vs. decimal odds vs. fractional odds beast is to use an online calculator. Whether or not you understand any of the systems, you can use the calculator to figure out how much you will weigh in with the odds provided. You simply enter the amount of money you would like to wager and the result is displayed when you click enter.
For many people, they are visual learners and a picture speaks a thousands words. The other easy trick that works every time is to search online for a conversion chart for American odds vs. decimal odds vs. fractional odds.