So if one event has odds of 1.50 and another has odds of 1.90, the one with the lower odds, 1.50, is more likely to happen. Here’s one simple rule of decimal odds: the lower the value, the greater the probability. If you’re interested in finding out how decimal odds really work, read on! Understanding Decimal Oddsĭecimal odds are written as numbers and most are usually rounded off to two decimal places-for example, 3.25.

Since many sportsbooks allow bettors to choose their desired odds format, you can freely switch from American odds to decimal odds if you wish. Calculations with decimals are simple and straightforward, meaning that newbies can easily get accustomed to the format, and it’s also easier to calculate an event’s probability if you’re using decimal odds. It’s easy to see why decimal odds are favored in many parts of the world. How To Calculate Winnings With Decimal OddsĪmerican odds may be popular in the States, but in most parts of the world, the default format used to represent odds is the decimal odds format.