How to Read European Odds – Learn How to Read the European Odds Format and Calculate Your Bets

Online sportsbooks display odds on the top sports betting events in different ways. One of the default ones are European betting odds, which are available at any bookmaker, including BetPlays. These odds are in stark contrast to the positive and negative odds of the American format, displaying the total return per bet.

Bettors wondering how to read European odds are in the right place. Our European betting odds guide will cover the basics and let Canadian bettors learn how to read them for accurate value assessment.

European Odds Explained

European odds are also known as decimal odds. They’ve become the dominant format in Europe since the mid-20^th century, helping bookmakers grow from their informal beginnings to regulated markets. Unlike fractional or American odds, European betting odds are a simpler and more transparent way to present a sports event’s outcome.

The rise of online sportsbooks has seen European betting odds grow into a dominant format. With single numbers, bettors can easily read these odds and calculate potential returns. This is something that digital betting platforms such as BetPlays Canada favor, allowing bettors to switch between the primary odds formats at will.

How to Read European Odds

Decimal or European odds show the total return on a bet of $1. The return includes the stake as well. Here’s a simple example:

• If the odds in a betting market are 2.00 and you bet $5, you’ll get a total return of $10. That’s a profit of $5, plus the original stake returned.

The numbers displayed in European betting odds show the amount you get back if the bet wins. It’s easy to wrap your head around it, without any complicated conversions or math. So, if you bet $1 on Barcelona against Athletic Bilbao at odds of 1.80, the total is $1.80. That’s 80c in profit.

Since the returns are easy to calculate even without a European odds calculator, many bettors prefer this format. It’s intuitive and easy to work with. Unlike American odds, there’s no need to consider positive and negative odds. Just multiply your wager by the number and you get the total return.

What European Odds Show About Probability?

With European betting odds, it’s easy to calculate the probability of an outcome. In short, the higher the odds, the less likely the sportsbook believes the outcome is.

Let’s put things into perspective:

If you spot 1.50 decimal odds at BetPlays, that team or player is likely a favorite. It means you’re getting a smaller return because the team is less likely to win.

In the same match, the underdog has higher odds, probably 2.50 or longer. This team or player is not considering a favorite, but for bettors, the return is riskier, but larger.

Decimal odds can also be converted into rough probabilities. Here’s the formula:

• 00 = 100 / 2.00 = 50% probability
• 00 = 100 / 3.00 = ~33.33% probability

As you can see, European betting odds provide a look into the potential payout and the likelihood of a winning bet.

European Odds vs Other Odds Formats

To have European odds explained, it’s best to compare them with the other two main formats – fractional (UK) and American odds. They differ from the positive and negative format in American betting odds and the UK odds that show profit relative to a wager.

Final Tips for Beginners

Decimal or European odds are the most intuitive way to calculate the outcome of the event. They’re beginner-friendly, consistent, and easily scalable. The number reflects the total return per $1 wagered, making them easier to calculate than fractional or American odds.

At BetPlays, you can bet on thousands of sports events and change the odds with a click of a button. Learning how to read European odds is crucial, and this guide covers all the basics for a proper betting experience. Head to our sports betting section and find your picks, and you can quickly identify value odds and potential returns without using odds calculators.