In Australia, betting odds are usually shown in decimal format by default. However, you can easily switch to American or fractional odds if that’s the style you prefer. So you’ll always be able to use your favourite odds format.
Still unsure how these betting odds formats actually work? Then keep reading, as this guide will fill you in on everything you need to know. From the basics of betting odds to how the different formats work here in Australia and the impact they have on your user experience. Everything you need to know as a new Australian bettor.
Betting odds show the probability of an event happening and how much you’ll win if you predict the outcome correctly. These odds can be written as decimal (3.00), fractional (2/1), or American (+200/−150).
Furthermore, betting odds reflect the bookmaker’s views. If the odds are low, there is a high implied probability that the event will occur, resulting in a low potential payout. In contrast, if odds are high, there is a low implied probability, resulting in high potential payouts. Keeping this in mind can help you better manage your bankroll and make more informed decisions.
What Are the Different Betting Odds Formats Used in Australia?
In
betting guides
and real-world betting markets, you’ll find three formats commonly available, which include decimal, American, and fractional. Here’s how they each work for sports betting:
Odds format
Description
Odds example
Potential return example
Decimal
Total payout (stake + winnings) per 1 unit wagered.
2.50
$10 bet on 2.5 odds = $25 potential return
American
“+” shows winnings on a $100 bet. “−” shows the stake needed to win $100.
+150 / −200
$100 bet on +150 odds = $150 potential return $200 bet on -200 odds = $100 potential return
Fractional
Winnings relative to stake, in fraction form.
3/2
$10 bet on 3/2 odds = $25 potential return
Decimal Odds
Decimal odds show the total return (stake + winnings) you get for each unit you bet. They’re written as a single number (like 3.50) and are often considered the simplest odds format to use: multiply your stake by the decimal and you get the potential payout if your bet wins. Currently, decimal odds are the most popular format in Australia. But they are also popular in European countries.
Here’s a breakdown of how to calculate decimal odds:
Total return
= stake x decimal.
Winnings
= stake x (decimal − 1) OR total return − stake.
Implied probability
= 1 ÷ decimal.
So, how does this look in a real-world example? Let’s say you bet $10 on your favorite team to win at odds of 3.50. If you predicted correctly, you’d win a total of $35 ($10 x 3.50).
American Odds
American odds show how much you can win based on a $100 stake (for positive odds) or how much you need to bet to win $100 (for negative odds). They’re written with a plus or minus sign (like +250 or -150) and are the most common format in the United States, although they still present a viable option for Australian bettors.
Here’s how American odds are calculated:
If odds are positive: Winnings
= stake x (odds ÷ 100).
If odds are negative: Winnings
= stake x (100 ÷ odds).
At an Australian bookmaker, you might choose to bet $10 on an upcoming fixture at +250. If you predicted correctly, you’d win $25, making your total return $35.
Fractional Odds
Fractional odds show the winnings you make relative to your stake. They’re written as a fraction (like 5/2 or 7/4) and are common in the UK and Ireland, although they are also available as a viable format at Australian bookmakers. A fraction like 5/2 means you get $5 for every $2 you bet.
Here are the key factors at play when calculating fractional odds:
Winnings
= stake x (numerator ÷ denominator).
Total return
= stake + winnings.
Implied probability
= denominator ÷ (numerator + denominator).
If you were to bet $10 on your favorite player to win an upcoming game at odds of 5/2. If you predicted correctly, you’d get $25 winnings, making your total return $35.
Pros and Cons of Different Odds Formats
Pros and Cons
Good for comparing market value
Easy to switch formats
Flexibility to choose your format
Decimal odds simplify calculations
Easy to make mistakes with new formats
Which Odds Format Is Best for Sports Betting?
There’s no universally best odds format; it’s purely a matter of preference and what feels most useful to you. Decimal, fractional, and American odds all show your potential return and the implied probability in different ways. If you like clean math and quick totals, decimal odds might suit you. In contrast, fractional odds appeal to people who like seeing winnings ratios. Additionally, American odds can be useful for quickly spotting favorites and underdogs.
Ultimately, switching format won’t change the result, only how you read it. Pick the format that helps you spot understand the odds fast, makes calculations simple, and keeps betting fun.
How to Convert Different Odds Formats?
You can use manual formulas to convert between different odds formats, but plenty of online calculators and tools make this quick and easy. Here are some examples showing the same odds in different formats:
Decimal odds
Fractional odds
American odds
Implied probability
1.50
1/2
-200
66.7%
2.00
1/1
+100
50.0%
3.00
2/1
+200
33.3%
4.00
3/1
+300
25.0%
5.00
4/1
+400
20.0%
Save Yourself Time and Hassle by Switching the Default Odds Format
What makes manual odds conversion even more unnecessary is that modern bookmakers let you effortlessly switch between odds formats right from your dashboard or betting markets. Usually, you can toggle between decimal, fractional, and American odds in your account settings. Some bookmakers even offer niche formats like Hong Kong, Indonesian, and Malaysian odds for added flexibility.
The Verdict: Betting Odds Formats Are Easy to Understand
To summarise, betting formats don’t have to be difficult if you take a small amount of time to read the rules. In Australia, decimal odds remain the dominant force, which are popular for their simplicity and clean calculations. At the top bookmakers, you’ll have the option to easily flick between American, fractional, and potentially a variety of more niche formats.
Ready to check some new sports betting sites? Use the promotional banners on this page to find your next
Australian bookmaker.
Australian Betting Odds FAQs
Australian betting odds are usually shown in decimal format and represent how much you’ll get back for every $1 wagered, including your stake. For example, odds of 3.00 mean you’ll receive $3 for every $1 bet if you win.
Not necessarily, higher odds mean a bigger payout, but also a lower probability of winning. Lower odds mean a higher chance of winning but smaller returns.
Odds can change before the event starts due to market activity or new information, but once your bet is placed, your odds are locked in.
Odds shift because of new information (injuries, weather, team announcements), betting trends, or bookmaker adjustments to balance their books.
Decimal odds are the most beginner-friendly since they clearly show total returns from a $1 stake, and they’re also the most popular in Australia.
