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How to read betting odds and implied probability

By adminUpdated 13 Oct 2026

Decimal odds

Almost every bookmaker that serves India shows decimal odds by default. The number is simply what you get back for every ₹1 staked, including your stake. Odds of 2.50 on a ₹1,000 bet return ₹2,500 if it wins: ₹1,500 profit plus your ₹1,000 back. Odds of 1.50 return ₹1,500, a ₹500 profit.

The lower the number, the more likely the bookmaker thinks the outcome is. Anything under 2.00 is an odds-on favourite; anything over 2.00 is an outsider.

Implied probability

This is the calculation worth learning. Divide 1 by the decimal odds and you get the probability the price implies. Odds of 2.00 imply 50%. Odds of 1.50 imply 66.7%. Odds of 4.00 imply 25%.

Now add up the implied probabilities for every outcome of a match. For a football match priced at 2.10 / 3.40 / 3.60, that is 47.6% + 29.4% + 27.8% = 104.8%. The 4.8% above 100 is the bookmaker’s margin, also called the overround or vig. It is the built-in cost of betting at that site. On the same match, a bookmaker whose three prices add to 103.5% is cheaper. This is exactly how we measure odds value in our reviews, and why 1xBet scores so highly on it.

Fractional and American odds

Fractional odds (5/2, 10/11) are common at UK bookmakers. The first number is the profit for staking the second: 5/2 means ₹500 profit on a ₹200 stake. To convert to decimal, divide and add 1: 5/2 = 2.5 + 1 = 3.50.

American odds show a plus or minus. +250 means ₹250 profit on a ₹100 stake (decimal 3.50). -200 means you stake ₹200 to win ₹100 (decimal 1.50). Most sites let you switch formats in settings; decimal is easiest for comparing.

What this means for picking a site

Two bookmakers can both show “RCB to win” and one will be 1.91 while the other is 1.95. Over hundreds of bets that gap decides whether you finish ahead. Use our comparison table and the Odds value sub-score in each review to find the sharper books, and keep accounts at two or three so you can take the best price on each bet.