What are odds?

In sports betting, odds represent the probability of an event happening and determine how much you can win from a bet. They are used by sportsbooks to set payouts based on the likelihood of a team winning or a specific outcome occurring.

There are three main types of odds:

1. Decimal Odds

Decimal odds show the total payout you will receive for every $1 wagered, including your stake.

• Example: Odds of 2.50 mean that for every $1 you bet, you would win $2.50 (your $1 stake plus $1.50 profit).

2. Fractional Odds

Fractional odds are the most traditional and show the profit relative to your stake.

• Example: Odds of 5/1 (read as "five to one") mean that for every $1 you bet, you will win $5 in profit if your bet is successful.

3. Moneyline Odds

Moneyline odds show how much you can win on a bet based on your stake, but they’re expressed differently for favorites and underdogs.

• Positive Moneyline Odds (+): These show how much you can win on a $100 bet.
• • Example: Odds of +200 mean that if you bet $100, you could win $200 in profit.
• Negative Moneyline Odds (-): These show how much you need to bet to win $100.
• • Example: Odds of -150 mean you need to bet $150 to win $100 in profit.

Why Do Odds Matter?

• Odds tell you how likely something is to happen: Lower odds (e.g., -150) mean the event is more likely to occur, while higher odds (e.g., +200) mean the event is less likely, but the potential payout is greater.
• Odds determine your payout: The odds you bet on will dictate how much you win relative to your wager.

You can learn more about odds here: https://help.draftkings.com/hc/en-us/articles/360061942833-Understanding-Odds

Updated on: 10/07/2025