To understand what the odds stand for in sports betting, we need to think of it as the reflection of the probability or chance of a particular outcome in a sporting event.
These odds or the prices are set by the Bookmakers.
There are generally four types of odds formats supported by Asian Bookmakers, that being decimal odds, Hong Kong Odds, Indonesia Odds and Malay Odds.
Most online betting sites provide you with the choice of which type of betting odds you want to utilize.
In our view, having the betting odds explained is essential to your success when you bet on sports.
This is the simplest type of format to understand and the most commonly used by sports bettors around the world. They are often called Euro or European odds, for they are the favorite across Europe, Australia and Canada.
The formula for calculating the decimal odds is:
Your stake x Odds = Payout.
Let’s take the example of Team A vs Team B. The odds for Team A are 1.85 and the odds for Team B are 2.75. Now let’s assume you decide to back Team A which is clearly the obvious potential winner.
You original stake is $100.
If Team A wins, you use the formula above to calculate your potential return.
Original Stake (100) x Odds (1.85) = Your winning ($185)
Net Profit = Payout-Original Stake = 185-100 = $85
Now let’s assume you decide to back Team B, which is the obvious underdog in the match.
You will use the same formula to calculate your potential return.
Original Stake (100) x Odds (2.75) = Your winning ($275)
Just remember that when using decimal odds, your original stake is calculated into your potential winnings. When determining your potential net profit, always remember to account for your original stake.
Given the above, in this case your potential net profit is $175.
What can we observe here?
In the first case, that is backing the potential winner of the match, you are risking losing $100 to win $175 with the potential for a $75 net profit.
Decimal odds below 2.0, such this one (1.75) are less than even money odds. To put it simply, the potential return will be less than your stake (your stake was $100 and your return was $75)
In the second case, meaning backing the underdog of the match, you are risking losing $100 to win $275 with the potential for a $175 net profit.
Decimal odds above 2.0, such this one (2.75) will be plus odds, meaning your potential return will be more than your stake (your stake was $100 and your return was $175).
Hong Kong Odds
Honk Kong odds, normally denoted HK odds, along with decimal odds is the simplest type of odds format, only a bit trickier when using multiple bet odds, but still very simple.
They are represented in decimal format and the formula for calculating the potential return is:
Original Stake x Odds = Net Profit
Unlike decimal odds, this type of format does not take into account the returned stake, just the net profit. This means that the bettors must add this to their winnings after.
Not having stake returns within Hong Kong odds is what makes it slightly harder to calculate multiple bets. To make it easier, the best way is to simply convert the odds to decimal format before doing the calculations. In order to do so, the bettors need to add to each HK Odds the number 1, and then proceed to do the multiplying.
The formula is this:
Original Stake x (HK Odds + 1) x (HK Odds + 1) .. etc = Potential total winning.
Here the original stake is taken into account, therefore one need to remove it from the total sum in order to calculate their net profit.
Net Profit = Total winning-Original Stake
Let’s take two examples of a racecourse, one with a single bet and the other with a multiple bet.
Now let’s assume you decide to have a punt on the horse A the odds of which is 0.5 and your original stake is 100 Hong Kong $.
In order to calculate your potential net profit we will use the formula:
Original Stake (100) x Odds (0.5) = Net Profit (50)
Since the original stake is not taken into account when calculating the net profit, this means that you win extra 50 Hong Kong $ and you take your original 100 back.
Now let’s take a look what you need to do, if you decide to go for a multiple bet.
This time, let’s assume you decide to place a bet on horse A, as well as horse B and horse C, odds of each respectively being 0.5, 3.75 and 4.25. Your original stake is again 100 Hong Kong $.
This time, before we do the calculating, we need to first convert Hong Kong Odds to decimal Odds. We do that by adding 1 on each HK Odd.
So the formula is:
Original Stake (100) x HK Odds +1 (0.5 +1 = 1.5) x HK Odds (3.75 +1 = 4.75) x HK Odds +1 (4.25 +1= 5.25) = Total winnings (100 x 1.5 x 4.75 x 5.25) = 3.740,625
That’s right! This nice multiple bet, removing the original stake of 100 HK$ of the total sum, got you 3.640,625 HK$ net profit!!
Big betting is very common in Asia, and Hong Kong is no different!
Sport betting is technically illegal and persecuted by the police in the country of Indonesia, which has forced most action into the shady underworld, where the odds are worse and the payments highly unsafe. A safe way out of this problem for the Indonesian players is to turn to plenty of sites based in other countries that they would happily accept them, where sports betting is not banned, the odds are way better and the payments are more secure.
So how do Indonesian Betting Odds work?
The Indonesian Odds format is similar to the American one. This means that the odds are basically the same, just divided by 100, which means that a +115 in the American Odds format is divided by 100 and is expressed as 1.15 in the Indonesian system. Note that the plus sign, if not there, is implied, while the negative sign is mandatory to be shown.
When using the style of the Indonesian odds, an even money bet would be quoted as 1.00. This means, in order to win 1 unit, I must risk 1 unit as well.
Odds above 1 or below 1 simply mean that the money bet will not be even. In the case of a positive odd, such as 1.15, the bettor must risk 1.15 units in order to get 1, whereas in the case of a negative odd, such as -1.15, the bettor must risk 1 unit in order to get 1.15.
Let’s take the example of Team A vs Team B in a football game, the respective odds of each being -1.15 and 2.10. The signs tell us which Team is listed as the favorite and which as the underdog. The one with the – sign is the favorite and the one with the + sign or no sign at all is the underdog. In this example, Team A is the more likely to win (favorite), while Team B is the less likely to win (underdog).
Now let’s assume you decide to bet on Team A and your original stake is $115.
For each unit won, you would need to risk 1.15 units. Here you are risking 115 units in order to get 100.
In this case, your bet of $115 will return $214.935.
Now let’s assume you decide to bet on Team B and your original stake is $100.
Here, for each unit bet you risk, you would win 2.10 units.
So your $100 bet returns $210, meaning you’re risking $100 to win $110 (risking 1 unit to win 1.1 units)
The big difference between + and – odds is that in the first example you are risking more than one unit to win one unit. In the second example you are risking one unit to win more than one unit.
To better understand this system, we need to think of it as a local language. If you are German and you decide to visit China and you talk to Chinese people who do not know your language, they will not understand you. The same is true for bookmakers. The Malay or Malayan system of Odds is determined by local customs. Therefore, if you are trying to place a bet using European Odds in a Malayan book, they may not understand what you wish to do there. Therefore you need a “translator” in this case various calculators that can help you make the necessary conversions to and from different forms of odds.
This is an ideal option for soccer fans, as an estimated 90% of all bets placed in the Malay are centered on soccer.
Malaysian Odds are expressed in decimals, either positive or negative. Here note that If the odds are “0” then it is an exact 50/50 bet and will pay out 1/1.
For odds above or below 1, in order to calculate the potential payout, we need to use the formula:
Original Stake x (1 + Malaysian Odds) = Payout.
Let’s take the example of soccer Team A vs Team B, the respective odds of each being +0.4 and -0.25. Team A here is the favorite, while Team B is the underdog.
Let’s assume you decide to bet on Team A and your original stake is $100.
In order to calculate your potential net profit, you need to use the above formula and then remove the original stake.
Original Stake (100) x Odds (1 + 0.4 = 1.4) = Payout (140)
Net Profit = Payout – Original Stake = 140 – 100 = $40.
This shows that for every $100 you bet on Team A you will win $40.
Now, let’s assume you decide to bet on the underdog of the match, Team B, the MO of which being -0.25, and your original stake is $100.
In order to calculate your potential payout, you need to use the formula:
Original Stake x 1 – 1/Mal. Odds = Payout
100 x (1 – 1/-0.25) = 100 x (1+1/0.25) = 100 x (1+4) = 100 x 5 = 500.
Net Profit = Payout – Original Stake = 500 – 100 + $400.
This shows that for every $100 you bet on Team B you win $400.
As with everything, here too deciding on which odds format is more suitable for each bettor, is a matter of preference. Luckily, there are lots of online tools that can be used to convert to and from American, Euro, Hong Kong, Indonesia and Malay Odds.
We hope by this article we assisted you in better understanding the “logic” behind the odds formats supported by Asian Bookmakers, so as to easily figure out how much you can win for each unit you risk. In this way, we strongly believe that you will be able to make the most of the sports betting sites.
As always, keep betting responsibly and enjoy your winnings!
Keep up with our next article to find more about the best Asian Bookmakers!