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Odds are just one way to bet on sports. They’re the most popular type of bet, but they’re not the right choice for everyone.

Analyzing the Right Odds

If you want to increase your chances of winning, it’s important that you set the right odds. That means understanding how bookmakers work and knowing when they set favorable odds or not so favorable odds—as well as when they do both.

2 Types of Odds You Need to Know

Bookmakers generally work with two types of odds

  1. American and
  2. Decimal

Decimal odds are easier for people who don’t know math or who want to quickly calculate their risk (you can easily divide decimal odds by 100).

That said, different competitions will have different types of odds available. For example, if you were betting on a daily MLB game, you might be able to find American odds; but if you were betting on an NBA game, you might find decimal or fractional (1/10) odds instead (since there are multiple outcomes).