The most common ways of how US sportsbooks display odds are as numbers (moneyline odds). The British use fractions (fractional odds), whereas decimals (decimal odds) feature in European sportsbooks. In all cases, the odds show who is most likely to win or lose in a match. Keep in mind that betting on favorites poses less risk, but you’ll get lower profits.
With moneyline odds, you’ll find positive and negative numbers always in relation to the number 100. Favorite teams are marked with negative numbers, and the underdogs with positive numbers. So, if a team has -110 odds, it means that you have to bet $110 to win your original $110 bet back plus a $100 profit. If a team has +120 odds, you bet $100 to make a profit of $120.
In fractional odds, 1/4 odds mean the favorite has four more chances of winning than losing. This means that for every $1 bet, you’ll only make a profit of $0.25. 4/1 odds mean the team is four times more likely to lose than to win, and you’ll get $4 for every $1 wagered, plus your starting $1 bet (i.e. a total payout of $5).
Decimal odds are easier to understand, since the decimal simply represents the amount you can win for every $1 bet. So if a team is set to win by 5.5, it means you’ll get a total payout of $5.50 for a $1 bet. Higher decimals and hence payouts show underdogs since they have fewer chances of winning.