How do odds formats work and which one's typical in Australia?
- Australian bookmaker betting odds explained
- Odds are displayed in decimal format in Australia
- How to identify good odds and why odds matter

If you're new to betting, it might be confusing to see different types of odds and what they mean - read on below as we provide a complete guide to bookmaker odds.
In Australia, bookmakers primarily display decimal odds. For example, odds of 2.50 mean that for every $1 you bet, you’ll receive $2.50 back in total if you win—$1 stake plus $1.50 profit. Decimal odds are widely considered straightforward and beginner-friendly compared to fractional (e.g., 3/2) or American formats (e.g., +150).
Types of betting odds formats
To break down the main formats:
- Decimal (2.50): Multiply your stake by the decimal to get the total return. If your stake is $10 at odds of 2.50, your return is $25 (profit of $15 plus your $10 stake).
- Fractional (3/2): Common in the UK, indicates your ratio of profit to stake. 3/2 means you profit $3 for every $2 staked, so a $10 stake yields $15 profit, plus your original $10 back = $25 total.
- American (+150 / -150): Popular in the US. A plus sign (+150) means a $100 stake returns $250 total ($150 profit + $100 stake). A minus sign (-150) means you must bet $150 to profit $100.
Most Aussie bookies allow switching formats in your account settings if you’re used to another style. However, decimal is the default, and you’ll see it across the site—even in live markets or multi-builders.
Why do odds matter?
They reflect the implied probability of an outcome, factoring in both the bookmaker’s margin and real-world variables (like team form or a horse’s track record). If you can gauge that an event’s probability is higher than the odds suggest, you have what’s called a “value bet.” For instance, if a team is offered at 3.00 (implying around a 33% chance of winning), but your research suggests they have a 40% chance, you might see that as good value.
Aussie bookies constantly adjust odds based on factors like team news, weather or how much money punters are staking on each side. This is why you’ll see lines shift in the days leading up to a big AFL or NRL match. If you notice different odds at various sites, that’s your opportunity to shop around and secure the best price (see more info at Choosing & Using a Bookmaker on having multiple bookmaker accounts).
Understanding decimal odds is also crucial for multi or accumulator bets. When you add multiple selections, the decimal odds multiply together, creating larger potential payouts but also increasing your risk, as every leg must win. So whether you’re placing a single bet at 1.80 or combining eight legs at accumulated odds of 50.00, the decimal system consistently shows your potential return in a single glance.
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