Understanding Odds

    Master the fundamentals of betting odds, learn different formats, and understand how to calculate your potential winnings in Ethiopian Birr. Knowledge of odds is essential for successful betting in Ethiopia.

    Odds Formats

    Decimal Odds

    Most common format worldwide. Shows total return for every ETB 100 bet.

    2.50
    Example Odds
    Calculation:
    Stake × Odds = Total Return
    ETB 100 × 2.50 = ETB 250 (Profit: ETB 150)

    Fractional Odds

    Shows profit relative to stake.

    3/2
    Example Odds
    Calculation:
    (Stake × Numerator) ÷ Denominator = Profit
    (ETB 100 × 3) ÷ 2 = ETB 150 profit + ETB 100 stake = ETB 250

    American Odds

    Positive shows profit on ETB 100, negative shows stake needed for ETB 100 profit.

    +150 or -200
    Example Odds
    Calculation:
    Positive: (Stake × Odds) ÷ 100 | Negative: (Stake × 100) ÷ |Odds|
    +150: (ETB 100 × 150) ÷ 100 = ETB 150 profit

    Odds Calculator

    Results

    Total Return:ETB 250.00
    Profit:ETB 150.00
    Implied Probability:40.00%

    Implied Probability

    Implied probability shows what the bookmaker thinks the chance of an outcome is. It's calculated as 1 ÷ decimal odds × 100.

    2.0
    50%
    Even chance - like a coin flip
    3.0
    33.33%
    One in three chance
    5.0
    20%
    One in five chance
    10.0
    10%
    One in ten chance

    How Bookmakers Set Odds & Margins

    The Bookmaker's Edge

    Bookmakers build a profit margin (or "overround") into their odds. This means the total implied probability of all outcomes exceeds 100%.

    Example: Ethiopian Premier League Match

    Team A Win (2.10):47.6%
    Draw (3.20):31.3%
    Team B Win (4.00):25.0%
    Total:103.9%

    Finding Value

    Value betting occurs when you believe the true probability of an outcome is higher than what the odds suggest.

    Value Bet Example

    Bookmaker odds: 3.00 (33.3% implied)
    Your assessment: 40% chance
    This could be a value bet!

    Need More Help Understanding Odds?

    Our support team is here to help you master betting odds and improve your betting strategy.