If you’re serious about sports betting with Betway, one of the top betting sites in South Africa, it’s crucial to understand how odds work. While Betway does all the hard maths for you, getting a grasp of odds calculations will help you understand potential payouts and make smarter bets.
Betway, like most bookmakers, displays odds in the decimal format which is popular across Europe and Africa. At their core, decimal odds represent the total payout you’ll receive if your bet wins, relative to your stake amount. Let’s break down decimal odds calculations:
Understanding Decimal Odds
In decimal odds, the listed number indicates what you’ll receive in total for every R1 staked, including your original stake. For example:
Odds of 2.50 = You’ll receive R2.50 (R1 stake + R1.50 profit) for every R1 staked Odds of 5.00 = You’ll receive R5 (R1 stake + R4 profit) for every R1 staked
So decimal odds of 2.50 signify an even money bet, while odds above 2.00 represent potential profits.
To calculate your possible payout: Potential Payout = (Stake Amount × Decimal Odds)
For a R10 bet at odds of 2.75: Potential Payout = R10 x 2.75 = R27.50
Your net profit is simply the potential payout minus your original stake: Net Profit = Potential Payout – Stake Amount = R27.50 – R10 = R17.50
Working With Low Odds
Odds below 2.00, like 1.50 or 1.20, represent low risk bets where your potential winnings are less than your stake amount. Here your net profit is calculated as:
Net Profit = (Stake Amount × Decimal Odds) – Stake Amount
If you bet R50 at odds of 1.50: Net Profit = (R50 × 1.50) – R50 = R25
For odds of 1.20 with a R100 stake: Net Profit = (R100 × 1.20) – R100 = R20
Basically, lower odds provide smaller payouts relative to your stake.
Making Sense of Unlikely Odds
For extremely unlikely outcomes with long odds like 15.00 or 25.00, the calculation is straightforward using the decimal system. For instance:
R10 bet at odds of 25.00: Potential Payout = R10 x 25.00 = R250 Net Profit = R250 – R10 = R240
So for a R10 stake, you could theoretically win R240 in profit if that unlikely outcome occurs.
The benefit of decimal odds on Betway is their simplicity. There’s no need for separate calculations to determine your returns. Always keep in mind that Betway displays the full payout including your initial stake amount.
As you place more bets and enter odds into the bet slip, you’ll quickly become fluent in understanding the potential payouts and profits. Mastering odds calculations on Betway can seriously improve your sports betting decision making.