How Odds Work (Fractional, Decimal, American) – CX Bets

When you place a bet on CX Bets, the odds tell you two things:

How much you can win if your bet is successful.
How likely (or unlikely) the outcome is considered to be.

CX Bets can display odds in different formats, most commonly: Fractional, Decimal and American. This article explains each format, how to read it and how to convert between them.

1. Core Concepts: Stake, Return and Profit

Before we look at formats, three key terms:

Stake – the amount of money you risk on the bet.
Return – the total amount paid back to you if you win (stake + profit).
Profit – the amount you win excluding your original stake.

Each odds format is just a different way of showing the relationship between stake, return and profit.

2. Fractional Odds (e.g. 5/2, 4/1, 10/11)

Fractional odds are typically written as A/B and are common in the UK and some betting shops.

How to read them:

A/B means you win A units of profit for every B units staked.

Formulas:

Profit = Stake × (A ÷ B)
Return = Stake + Profit

Example 1: 5/1

Stake: 100
Profit = 100 × (5 ÷ 1) = 500
Return = 100 + 500 = 600

Example 2: 5/2

Stake: 100
Profit = 100 × (5 ÷ 2) = 250
Return = 100 + 250 = 350

Example 3: 10/11 (“odds-on” favourite)

Stake: 110
Profit = 110 × (10 ÷ 11) = 100
Return = 110 + 100 = 210

3. Decimal Odds (e.g. 1.91, 2.50, 3.25)

Decimal odds are widely used online and are often the easiest to understand. They show the total return per 1 unit staked.

How to read them:

Decimal odds of D mean that for every 1 unit staked, you get D units back if you win (including your stake).

Formulas:

Return = Stake × D
Profit = Stake × (D − 1)

Example 1: 2.50

Stake: 100
Return = 100 × 2.50 = 250
Profit = 250 − 100 = 150

Example 2: 1.80

Stake: 100
Return = 100 × 1.80 = 180
Profit = 80

Example 3: 3.25

Stake: 100
Return = 100 × 3.25 = 325
Profit = 225

4. American Odds (Moneyline: +150, -200, +300)

American (moneyline) odds are common in North America. They show how much profit you make relative to either 100 units risked or 100 units won:

Positive odds (e.g. +150) – how much profit you win if you stake 100.
Negative odds (e.g. -200) – how much you must stake to win 100 profit.

4.1 Positive American Odds (e.g. +150, +250)

+A means: stake 100 to win A profit.

Formulas:

Profit = Stake × (A ÷ 100)
Return = Stake + Profit

Example: +150

Stake: 100
Profit = 100 × (150 ÷ 100) = 150
Return = 100 + 150 = 250

4.2 Negative American Odds (e.g. -200, -120)

-A means: you must stake A to win 100 profit.

Formulas:

Profit = Stake × (100 ÷ A)
Return = Stake + Profit

Example: -200

Stake: 200
Profit = 200 × (100 ÷ 200) = 100
Return = 200 + 100 = 300

Example: -120

Stake: 120
Profit = 120 × (100 ÷ 120) ≈ 100
Return ≈ 220

5. Converting Between Odds Formats

Behind the scenes, all these formats are just different ways of showing the same implied probability and payout. Here are common conversions.

5.1 Fractional ↔ Decimal

Fractional (A/B) → Decimal (D)

D = (A ÷ B) + 1

Examples:

5/1 ⇒ (5 ÷ 1) + 1 = 6.00
5/2 ⇒ (5 ÷ 2) + 1 = 3.50
10/11 ⇒ (10 ÷ 11) + 1 ≈ 1.91

Decimal (D) → Fractional (A/B)

First find D − 1 (this is the profit per 1 unit stake).
Convert D − 1 to a fraction and simplify.

Example: D = 2.50

D − 1 = 1.50 = 3/2, so fractional odds ≈ 3/2.

5.2 Decimal ↔ American

Decimal (D) → American (Moneyline)

If D ≥ 2.00 (underdog, positive):
- American = (D − 1) × 100
If D < 2.00 (favourite, negative):
- American = −100 ÷ (D − 1)

Examples:

D = 2.50 → (2.50 − 1) × 100 = +150
D = 1.80 → −100 ÷ (1.80 − 1) = −100 ÷ 0.80 = −125

American → Decimal (D)

If American = +A:
- D = 1 + (A ÷ 100)
If American = −A:
- D = 1 + (100 ÷ A)
- Note: A is the positive value of the negative odds (e.g. for -200, A = 200).

Examples:

+150 → D = 1 + (150 ÷ 100) = 2.50
-200 → D = 1 + (100 ÷ 200) = 1.50

6. Implied Probability (How “Likely” the Odds Are)

Every set of odds implies a certain chance that the event will happen. This is called implied probability. (In real markets, margins and overrounds are also included, but the basic idea is the same.)

6.1 From Decimal Odds

Implied probability (%) = (1 ÷ D) × 100

Examples:

D = 2.00 → (1 ÷ 2.00) × 100 = 50%
D = 1.50 → (1 ÷ 1.50) × 100 ≈ 66.7%
D = 3.00 → (1 ÷ 3.00) × 100 ≈ 33.3%

6.2 From Fractional Odds

Fractional A/B → D = (A ÷ B) + 1, then use the decimal formula, or
Implied probability (%) ≈ B ÷ (A + B) × 100

Example: 5/2

Probability ≈ 2 ÷ (5 + 2) × 100 ≈ 28.6%

6.3 From American Odds

For positive odds (+A):
- Probability (%) = 100 ÷ (A + 100) × 100
For negative odds (-A):
- Probability (%) = A ÷ (A + 100) × 100

Examples:

+150 → 100 ÷ (150 + 100) × 100 = 100 ÷ 250 × 100 = 40%
-200 → 200 ÷ (200 + 100) × 100 = 200 ÷ 300 × 100 ≈ 66.7%

7. Quick Comparison Table

Below is a simple comparison table using equivalent odds in each format (for demonstration only):

Fractional	Decimal	American	Implied Probability (approx.)
1/1 (Evens)	2.00	+100	50%
1/2	1.50	-200	66.7%
2/1	3.00	+200	33.3%
5/2	3.50	+250	≈ 28.6%
10/11	1.91	-110	≈ 52.4%

8. Changing Odds Format on CX Bets

Depending on your configuration, CX Bets may allow you to choose your preferred odds format (Fractional, Decimal or American).

Log in to your CX Bets account.
Open Settings, Preferences or Account.
Look for an Odds format or Display option.
Select Fractional, Decimal or American and save.

If this option is not available in your demo or live environment, odds will be displayed in the default format chosen by your operator.

9. Need More Help With Odds?

Use the CX Bets Bot and choose Sports Betting or Bets & Markets.
Ask the bot to:
- Explain a specific price (e.g. “What does 5/2 mean?”).
- Convert odds between formats for you.
If still unsure, click Submit a request and describe the odds or bet you are looking at.

Understanding how odds work will help you make more informed decisions and keep your sports betting on CX Bets clear, transparent and under control.

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