How to Read Decimal Odds
Read decimal odds by simply multiplying the odds by the stake.
Odds = 1.75
Stake = 50
Total Payout = Price x Stake = 1.75 x 50 = 87.50
Decimal odds are the simplest format of odds to read and usually the preferable odds format for educating new bettors on how to read sportsbook prices. Lets look at a tennis matchup between Novak Djokovic and Rafael Nadal:
Nadal – 1.66
Djokovic – 2.20
Using Decimal odds, the underdog is the team with the higher of the numbers, making the favorite the team with the lower of the two numbers. Pretty straightforward!
If you were to risk 100 on Nadal at odds of 1.66, you simply multiply the amount you risked (100) by the odds (1.66). The result is 166, which includes the 100 you risked, leaving you 66 in profit.
With Djokovic, risking the same 100 as before at odds of 2.20 would return you 220 (100 * 2.20). This includes the 100 you risked, so that leaves you with 120 in profit.
Prices including and above 2.00 mean that the side is considered less likely to win than the other, referred to as the ‘underdog’. Prices below 2.00 are for sides which are considered more likely to win, called the ‘favourite’.
Decimal odds are called that because, well, they are provided as a number followed by 2 decimal places! The number will never be below 1.00. If the number was below 1.00 that would mean you wouldn’t even get your original stake back in a win, and no one would bet on that!
To convert any odds formats check out Pinnacle’s odds converter.