How to read betting odds

Last updated: 13 July 2026 · 4 min read

Every bet starts with a number. This guide explains what that number actually says, how to turn any price into a probability, and why the price you take matters more than the team you pick.

Decimal odds: what the number means

Decimal odds are the standard across Europe and what we use on every ProMatchTips pick. The number is your total return per unit staked, stake included. Back a team at 2.50 with £10 and a win returns £25 — your £10 stake plus £15 profit. A loss costs the £10.

• 2.00 is "evens" — a winning bet doubles your money, and the price implies a 50/50 shot.
• Below 2.00 is favourite territory — you risk more than you stand to win.
• Above 2.00 is underdog territory — the profit is bigger than the stake, because the outcome is less likely.

Fractional odds, briefly

UK bookmakers still show fractional odds like 6/4: profit over stake, so £4 staked wins £6 profit. To convert, divide and add one — 6/4 becomes 1.5 + 1 = 2.50. They say exactly the same thing; decimal is just easier to compare at a glance, which is why our tips use it everywhere.

Implied probability: what the price believes

Divide 1 by the decimal odds and you get the probability the price implies. Odds of 2.50 imply 1 ÷ 2.50 = 0.40 — a 40% chance. Some anchors worth memorising:

• 1.25 implies 80%
• 2.00 implies 50%
• 3.40 implies about 29%
• 6.00 implies about 17%

This little formula turns every price into a claim about the world — one you can agree or disagree with. Disagreeing profitably is the entire basis of value betting.

The bookmaker's margin

Add up the implied probabilities of every outcome in a market and you'll get more than 100%. A typical match: home 2.10 (47.6%), draw 3.40 (29.4%), away 3.80 (26.3%) — total 103.3%. That extra 3.3% is the bookmaker's built-in edge, the "overround". It's why taking the best available price matters: shopping around is the one edge every punter gets for free.

Why the price matters more than the pick

Suppose your picks win 48 times in every 100. At odds of 2.10 you get back 48 × 2.10 = 100.8 units for every 100 staked — a small profit. Take the same picks at 1.90 and you get back 91.2 — a heavy loss. Same selections, same results, opposite outcomes. The price decides.

That's why every tip we publish records the odds at publish time, and why they stay on our public record — win or lose — exactly as published.

Bet responsibly

Betting is for adults (18+) and should only ever be entertainment paid for with money you can afford to lose. If it stops feeling that way, stop — our responsible gambling page lists free, confidential organisations that can help.