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Decimal odds are the most popular type of odds around the world, and have two main advantages over American odds — they convert to probabilities much easier, and they’re slightly more intuitive once you’re familiar.
So how do decimal odds work?
Decimal odds represent the total return for every $1 wagered, including the money you risked.
An American moneyline at -110 is 1.91 in decimal odds. Why?
Because for every $1 you’re betting, you’re getting 91 cents back, plus the original dollar.
Therefore, any odds under 2.0 will represent a favorite. Any odds over 2.0 will be an underdog.
Use the links to jump to each section.
- Calculating Payouts
- Why Use Decimal Odds?
- Convert Decimal Odds to Probability
- Converting American to Decimal
- Converting Decimal to American
- Should I Switch?
Calculating Payouts with Decimal Odds
Calculating payouts with decimal odds is simple.
Just multiply your wager by the decimal odds, and you’re done.
Money Risked * Odds = Total Payout
Let’s say you want to bet $10 on the Miami Dolphins moneyline (+160 in American odds) against the Buffalo Bills. In decimal odds, Miami will be 2.6.
$10 x 2.6 = $26
That $26 represents the $16 you’d profit from a Dolphins win, plus your original $10 back.
Your pal Norman wants to bet $10 on the Bills moneyline (-200 in American odds) in that same game. In decimal odds, that would be