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A winning bet returns a payout that is based on the odds quoted by the bookmaker. Betting odds can be displayed in various formats. Australia uses the decimal odds system, which is arguably the most intuitive format. You will sometimes see decimal odds referred to as European odds due to their popularity in Europe, or occasionally as International odds. Many bookmakers offer numerous odds formats on their website, however most Australian bookmakers offer only decimal odds. Below is a comparison of the most popular odds systems. The equivalent odds are provided for the following examples:
Example 1 represents a bet that provides a 150% total return. A winning $10 bet would return $15 for a $5 profit.
Example 2 represents a bet that provides a 300% total return. A winning $10 bet would return $30 for a $20 profit.
| Odds Format | Usage | Explanation | Example 1 |
Example 2 |
|---|---|---|---|---|
| Decimal | Europe, Australia, NZ, Canada | Expresses the total return from a winning $1.00 bet. | 1.50 | 3.00 |
| Fractional | UK, Ireland | Expresses the net return (in fractional form) from a winning $1.00 bet. | 1/2 | 2/1 |
| American | United States | A negative number indicates the dollar amount that would need to be wagered to win $100. A positive number indicates the dollar amount that would be won from a $100 wager. | -200 | +200 |
| Hong Kong | Hong Kong | Expresses the net return from a winning $1.00 bet. | 0.50 | 2.00 |
| Indonesian | Indonesia | When positive they are interpreted in the same manner as Hong Kong odds. Negative odds represent the unit amount needed to be wagered in order to win 1 unit of currency. | -2.00 | 2.00 |
| Malay | Malaysia | When positive they are interpreted in the same manner as Hong Kong odds. Negative odds represent the unit amount needed to be wagered in order to win 1 unit of currency. Note that Malay odds can never exceed 1.00. | 0.50 | -0.50 |
Because the decimal odds system is used in Australia, all examples on this website use decimal odds. Any reference to ‘odds’ implies decimal odds.
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