What are Odds in betting? Types of football betting odds to know?

What are Betting Odds (Odds)? What types of football betting odds are there? If anyone has ever visited or participated in online football betting, they must have seen the betting odds (odds) board with a myriad of flashing and constantly changing numbers on online betting sites, but don’t panic.

Through this article, let's explore the concept of Betting Odds and provide you with information about the types of football betting 1/1 odds analysis you should know for the most effective betting experience..

## What is the Betting Odds?

Betting odds, also known as odds, are numbers used to represent the likelihood of winning or losing for a particular match or event. They can be in various formats like 2.0, 500, -0.75, -1.75, etc., allowing both the bettor and the bookmaker to calculate the potential winnings or losses for placing bets on football matches or any other events.

Almost all bookmakers support the display of common odds formats: Decimal (DEC), American (US), Indo (IND), Malay (MY), and Hong Kong (HK), which is now renamed to CN odds. Generally, these names represent the leading countries in the world of online betting.

## Types of Football Betting Odds You Should Know

Typically, football bookmakers offer players the following popular types of odds:

## Decimal Odds (Standard Odds)

Decimal means displaying in decimal form. Usually, bookmakers allow players to choose and display their preferred odds format. For example, by default, the website will show decimal odds, also known as DEC odds.

DEC odds are a decimal number representing the total amount of money that the bookmaker has to pay to the player for a 1-unit bet at those odds if the player win football prediction. Decimal odds are often considered the standard odds because they are used for all different types of bets, from over/under, 1x2, to handicap betting. Decimal odds are important because when you win, you win the full amount, and when you lose, you lose the full amount; if you draw the bet, you get your money back. Especially, Decimal odds include the original stake (which is different from Hong Kong odds).

Note: This rate includes both the capital and the profit.

The formula for calculating winnings and losses when betting at DEC odds:

Total Winnings (including stake) = Stake X Odds (DEC)

Looking at the DEC odds, it's easy to distinguish which team is the favorite and which is the underdog. Simply put, the higher the number, the more the potential winnings, and it's usually assigned to the underdog team. Conversely, the favorite team is assigned a lower number, and the potential winnings are less.

## Hong Kong (HK) Odds

Hong Kong (HK) odds or CN (China) odds have been renamed by bookmakers since January 1, 2020. Currently, odds providers have not officially explained why the name changed from Hong Kong odds to CN (China) odds. It could be due to political pressure from China or for some complex reason that odds providers had to use CN (China) instead of HK odds.

HK odds are understood as: HK odds = Decimal odds -1. Why subtract 1? The number 1 here represents the original stake or capital. Hong Kong odds are represented by a positive number greater than 0.

For example, if Decimal odds = 2.3, then HK odds = 1.3. HK odds are used to remove the original stake from the betting odds, helping players calculate the profit directly on the betting table.

Simply put: Standard odds = Calculate total revenue; HK odds = Profit when winning

How to calculate winnings and losses when betting with Hong Kong (HK) odds:

Winnings (excluding stake) = Stake X Odds

Loss = Stake

## Malay (MY) Odds

Besides the commonly used decimal (DEC) odds, which are the default display on online betting websites, there's another type of odds popular among online gambling enthusiasts, known as Malay odds (MY).

Malay odds (MY) are numbers that represent the correlation between the stake and the potential profit a player will receive upon winning a bet. Malay odds only represent the net winning amount (net profit excluding the original stake) and the amount lost when a player places a bet. Net profit is the actual profit after deducting the original stake.

MY odds are represented by both positive (greater than 0) and negative (less than 0 with a minus "-" sign before the number) numbers. Positive odds are usually assigned to the stronger team (favored team), and negative odds are for the underdog (weaker team).

If the Malay odds are positive, the winnings and losses are calculated as follows:

Winnings (excluding stake) = Stake X Odds

Loss = Stake

Conversely, if the Malay odds are negative, the winnings and losses are calculated as follows:

Winnings (excluding stake) = Stake

Loss = Stake X Odds

Malay odds are popular among gamblers with the mantra: "Lose little, win enough." Clearly, with Malay odds, you win more money compared to a 1-1 ratio, but if you lose, you lose less money.

## Indo (ID) Odds

Indo odds, also known as Indonesian odds, are numbers that represent the potential winning amount and the amount lost when a player places a 1-unit bet on a match offered by online bookmakers.

Like Malay odds, Indo odds are also represented by both positive and negative numbers and do not include the original stake when calculating winnings for the player.

Positive Indo odds – Represent the underdog team.

Negative Indo odds – Clearly represent the favored team.

To easily understand and calculate winnings and losses with Indo odds, just remember the following mantra: "With Indo odds, lose more, win less." Thus, Indo and Malay odds are opposite in how they calculate winnings and losses: one wins more than the stake, and the other loses more than the stake.

If the Indo odds are positive, the winnings and losses are calculated as follows:

Winnings (excluding stake) = Stake X Odds

Loss = Stake

Conversely, if the Indo odds are negative, the winnings and losses are calculated as follows:

Winnings (excluding stake) = Stake

Loss = Stake X Odds

Therefore, if you bet on negative Indo odds, you will lose more than the amount you want to bet. To be able to place a bet on negative Indo odds, your betting account needs to have a balance greater than the amount you wish to bet.

## European Odds

European odds are similar to Decimal odds, quoted as a positive number greater than 1. They represent the amount of dollars returned if a bet wins, including the original stake (capital).

The formula for calculating winnings and losses when betting on DEC odds:

Winning Amount (including capital) = Stake X Decimal Odds (DEC)

Specifically: a European odds of 1.96 means that with a $100 bet, the potential winning amount could be $96, and the potential loss could be the $100 stake.

Through this article, I hope you will understand Betting Odds (Odds) in sports betting as well as no longer be uncertain about how to calculate the stakes for these types of odds. Additionally, these numbers also represent the probability of winning or losing, which team is favored, which is the underdog, or the psychological betting trend of players on that match. I hope the above best tips 1×2 will be helpful for you when engaging in online soccer betting.