Quick answer
Decimal odds tell you the total amount you get back for every $1 staked if the bet wins. Odds of 2.50 return $2.50 per $1, so a $2 bet returns $5.00, which is $3.00 profit. Lower odds mean the bookmaker thinks the result is more likely.
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Decimal odds in one sentence
Decimal odds show how much you get back in total for every $1 you stake, if the bet wins. That total includes your stake.
Bookmakers in Zimbabwe show odds in this decimal format, so it is the only format most punters need. (If you see fractions like 3/2 or American odds like +150 on an international site, our odds converter changes them into decimals.)
Turning odds into money
The formula is always the same:
- Gross payout = stake × decimal odds
- Gross profit = gross payout − stake
| Stake | Odds | Gross payout | Profit before deductions |
|---|---|---|---|
| $1 | 1.50 | $1.50 | $0.50 |
| $2 | 2.50 | $5.00 | $3.00 |
| $5 | 1.80 | $9.00 | $4.00 |
| $0.50 | 4.00 | $2.00 | $1.50 |
| $10 | 1.20 | $12.00 | $2.00 |
What odds tell you about chances
Odds are also the bookmaker's opinion of how likely something is. The quick way to see this is implied probability:
Implied probability (%) = 100 ÷ decimal odds
| Odds | Implied probability | What it means |
|---|---|---|
| 1.25 | 80% | Strong favourite |
| 2.00 | 50% | About even |
| 2.50 | 40% | Less likely than not |
| 4.00 | 25% | Unlikely |
| 10.00 | 10% | Long shot |
So when Highlanders are priced at 4.00 to win away at FC Platinum, the bookmaker is saying it thinks Highlanders win roughly one time in four. The implied probability calculator does this sum for you.
Notice the pattern: the lower the odds, the more likely the bookmaker thinks the result is, and the less you win.
Odds of exactly 1.00 and below 2.00
Odds can never be below 1.00, because that would mean getting back less than your stake when you win. Odds below 2.00 (such as 1.40) mean you win less than you staked: a $10 bet at 1.40 returns $14.00, a profit of $4.00. Odds above 2.00 mean the profit is bigger than the stake.
Why the percentages add up to more than 100%
Add up the implied probabilities of every outcome in a market and you will usually get more than 100%. For example, a Dynamos vs CAPS United match priced at 2.50 / 3.10 / 2.90 gives 40.00% + 32.26% + 34.48% = 106.74%. The extra 6.74% is the bookmaker's margin, its built-in profit. Our guide to how bookmakers make money explains this properly.
Odds change
Prices move before and during a match as news arrives and as money is staked. The odds that count are the odds on your bet slip when the bet is accepted. During live betting, prices can change every few seconds.
Common mistakes
- Treating payout as profit. At odds of 3.00, a $2 bet pays $6.00 but the profit is $4.00.
- Thinking odds are a guarantee. A team at 1.20 still fails to win roughly one time in six or more.
- Ignoring the margin. Because of it, odds are always slightly lower than the "fair" price.
- Comparing odds from different markets. 1.80 for "over 2.5 goals" and 1.80 for "home win" are different questions.
Summary
- Decimal odds = the total you get back per $1 staked if you win.
- Payout = stake × odds. Profit = payout − stake.
- Implied probability = 100 ÷ odds. Lower odds mean a likelier result.
- All outcome probabilities add up to more than 100% because of the bookmaker's margin.
Next, learn how to calculate betting payouts for singles, accumulators and draw-no-bet bets.