If you’re new to betting, not really sure how to gamble properly, or are more familiar with the fractional odds preferred in countries such as England, the concept of decimal odds might seem a little strange to you. However, it’s worth spending some time getting your head around the concept, so that next time you want to bet on a Socceroos game or an A-League fixture, you’ll be able to request decimal odds safe in the knowledge that you know what you’re doing.
In order to break the concept down easily, let’s stick with the comparison of 7/2 fractional odds and 3.50 decimal odds. Let’s pretend that we’re looking at the odds for a clash between the Aussies and Fiji. Of course, it goes without saying that the Socceroos would be expected to win this game but let’s pretend you could get a price of 3.50 (or 7/2 if you prefer your fractional odds) on an Aussie win.
Now, if you decide that you wish to put 10 dollars on an Australian win, you can work out your potential profit pretty quickly using the decimal odds. This is because the 3.50 figure tells you exactly how much profit you stand to make. The important thing to remember is that with decimal odds, your stake is included as part of your total return. This is one factor overlooked by bettors more familiar with fractional odds, or by individuals placing their first bet.
Decimal odds are far easier to wrap your head around than fractional odds, especially when trickier figures are involved. Just think how much easier it would be to work out your return on decimal odds of 3.50 with a wager of 10 dollars, compared to trying to figure it out using the fractional equivalent.
The final advantage of decimal odds is that they allow a far wider range of potential odds per market. For example, Betfair offers every price between 1.01 and 2.o to two decimal places. If you still find this a little confusing don’t worry; if you really commit yourself to betting and learn how to use Betfair to make a profit on a regular basis, decimal odds will become second nature to you.
