What are the different odds formats?

There are three main odds formats used in sports betting:

• Decimal Odds (e.g., 2.50): Shows your total return for a 1 unit stake
• American Odds (e.g., +150): Shows how much you need to bet to win 100 units (+150) or how much you win from a 100 unit bet (-150)
• Fractional Odds (e.g., 3/2): Shows your profit relative to your stake

How do I convert between different odds formats?

You can use our Odds Converter tool to easily convert between different odds formats. Simply enter the odds in any format, and it will show you the equivalent values in other formats.

What is value betting?

Value betting occurs when you believe the probability of an outcome is higher than what the bookmaker's odds suggest. For example, if you think a team has a 50% chance of winning, but the bookmaker's odds imply only a 40% chance, this represents a value betting opportunity.

How do I identify value bets?

To identify value bets:

• Calculate the implied probability from the bookmaker's odds
• Compare it with your own assessment of the true probability
• If your probability is higher, it might be a value bet
• Use our Value Betting Calculator to help identify potential value bets

What is arbitrage betting?

Arbitrage betting (or "arbing") is a strategy where you place bets on all possible outcomes of an event across different bookmakers to guarantee a profit regardless of the result.

How does arbitrage betting work?

Arbitrage opportunities arise when different bookmakers offer different odds for the same event. By placing the right amount on each outcome, you can guarantee a profit. Our Arbitrage Calculator can help you:

• Identify arbitrage opportunities
• Calculate the optimal stake for each outcome
• Determine your potential profit

What is the Kelly Criterion?

The Kelly Criterion is a mathematical formula that helps determine the optimal size of a bet based on the probability of winning and the odds offered. It aims to maximize long-term growth of your bankroll.

How do I use the Kelly Criterion?

To use the Kelly Criterion:

• Calculate your edge (probability of winning × odds - 1)
• Divide your edge by (odds - 1) to get the optimal bet size
• Use our Kelly Calculator to automate these calculations
• Consider using a fractional Kelly (e.g., 1/2 or 1/4) for more conservative betting