Understanding Crypto Betting Odds
Odds serve two main purposes in sports betting:
- Show potential payout: Higher odds = bigger potential return.
- Reflect implied probability: How likely the sportsbook thinks the outcome is.
Crypto sportsbooks calculate odds by analyzing a range of data and building in a margin to ensure long-term profit. Key factors include:
- Team and player performance
- Injuries and suspensions
- Historical stats and head-to-head results
- Public sentiment and betting volume
- Home-field advantage
- Environmental conditions (weather, altitude, etc.)
Shorter odds indicate a higher probability of success but offer lower returns. Longer odds reflect a lower chance of success but come with higher potential payouts.
Common Types of Crypto Betting Odds
For simplicity, all examples use USDT. The same math applies whether you’re betting with BTC, ETH, LTC, or even fiat currency.
Decimal Odds (European)
Widely used on crypto sportsbooks with global user bases. Decimal odds show your total return per unit wagered (including your stake).
Example:
Odds of 2.50 mean you receive 2.50 USDT for every 1 USDT bet (includes your original stake).
Formula:
Profit = Stake × (Decimal Odds − 1)
American Odds (Moneyline)
Common in the U.S. and supported by many crypto sportsbooks.
- Positive odds show how much you can win on a 100 USDT stake.
- Negative odds show how much you must stake to win 100 USDT.
Examples:
- + 200: Bet 100 USDT to win 200 USDT
- -150: Bet 150 USDT to win 100 USDT
Formulas:
- Positive odds: Profit = Stake × (Odds / 100)
- Negative odds: Profit = Stake / (|Odds| / 100)
Fractional Odds (UK)
Common among UK sportsbooks, these odds show profit relative to stake.
Example:
Odds of 5/1 (“five to one”) mean you win 5 USDT for every 1 USDT wagered (total return: 6 USDT).
Formula:
Profit = Stake × (Numerator / Denominator)
Hong Kong Odds
Similar to decimal odds but only show profit, not the total return.
Example:
Odds of 1.50 mean you win 1.50 USDT for every 1 USDT bet. Total return = 2.50 USDT.
Formula:
Profit = Stake × HK Odds
Malaysian Odds
Based on implied probability and similar to American odds, but expressed as decimals between -1.00 and +1.00.
- Negative odds: Indicate a favorite. Show how much you must stake to win one unit.
- Positive odds: Indicate an underdog. Show profit per unit staked.
Examples:
- −0.50: Bet 0.50 USDT to win 1 USDT.
- +0.50: Bet 1 USDT to win 0.50 USDT.
Indonesian Odds
Similar to American odds, but in decimal format based on a 1.00 base.
- Positive odds: Show profit per unit staked.
- Negative odds: Show how much you must stake to win one unit.
Examples:
- 1.50: Bet 1 USDT to win 1.50 USDT.
- −2.00: Bet 2 USDT to win 1 USDT.
How to Calculate Implied Probability
Once you understand how odds formats work, the next step is to calculate what they imply about the chance of an outcome happening. This is called implied probability. It’s the percentage chance that a bet would need to succeed for it to break even.
If your own estimate of success is higher than the implied probability, the bet may offer positive expected value.
Implied Probability Formulas:
Decimal odds
Implied probability = 1 / Decimal Odds × 100
American odds
- Positive odds (e.g., + 150): 100 / (Odds + 100) × 100
- Negative odds (e.g., – 150): IOddsI / (IOddsI + 100) × 100
Fractional odds
Denominator / (Denominator + Numerator) × 100
Implied Probability Example (American Odds):
Suppose a crypto sportsbook offers odds of +150 on Team A.
To find the implied probability:
= 100 / (150 + 100) × 100
= 100 / 250 × 100
= 40%
If your own analysis suggests Team A has a 50% chance of winning, then the bet may represent good value. The sportsbook implies a 40% chance, but you believe it’s higher.
Betting Odds Conversion
All odds formats express the same idea: how likely the sportsbook thinks an outcome is. The table below shows how each format corresponds to the same implied probability.
| Implied Probability |
Decimal Odds |
American Odds |
Fractional Odds |
Hong Kong Odds |
Malaysian Odds |
Indonesian Odds |
| 95% |
1.05 |
-1900 |
1/20 |
0.05 |
-19.00 |
-19.00 |
| 90% |
1.11 |
-1000 |
1/10 |
0.11 |
-10.00 |
-10.00 |
| 80% |
1.25 |
-400 |
1/4 |
0.25 |
-4.00 |
-4.00 |
| 66.7% |
1.50 |
-200 |
1/2 |
0.50 |
-2.00 |
-2.00 |
| 50% |
2.00 |
+100 |
1/1 (evens) |
1.00 |
+1.00 |
+1.00 |
| 40% |
2.50 |
+150 |
3/2 |
1.50 |
+0.67 |
+1.50 |
| 33.3% |
3.00 |
+200 |
2/1 |
2.00 |
+0.50 |
+2.00 |
| 25% |
4.00 |
+300 |
3/1 |
3.00 |
+0.33 |
+3.00 |
| 10% |
10.00 |
+900 |
9/1 |
9.00 |
+0.11 |
+9.00 |
| 5% |
20.00 |
+1900 |
19/1 |
19.00 |
+0.05 |
+19.00 |
Conclusion
Now that you know how to read and interpret betting odds, you’re in a much better position to identify value and make smarter plays at your favorite crypto sportsbook.
As you explore our list of the best crypto sports betting sites, take time to practice reading and comparing odds. Understanding how betting odds work isn’t just about knowing what your payout might be, it’s about reading between the lines. Over time, you’ll see things you were not aware of before, increasing the possibility of long-term success.
Top Rated Bitcoin & Crypto Sportsbooks
Overview of the How Betting Odds Work in Crypto Sportsbook
| Casino |
Welcome Bonus |
Our Rating |
|
Jack.com
|
Casino No Wagering 100 Free Spins |
4.0 |
|
Vave
|
Up to 550 USDT Bonus + up to €75 Free Bet + 5% cashback |
5.0 |
|
TrustDice
|
500% Welcome Bonus up to $90,000 + 100 Free Spins |
4.2 |
|
Bets.io
|
Up to 1 BTC Welcome Package + 100 Free Spins |
4.5 |
|
Cybet Casino
|
100% Welcome Bonus |
0.0 |
|
Rainbet
|
250% Bonus plus 60 Free Spins |
4.0 |
|
Crypto Games
|
200% deposit bonus up to 20,000 USDT + up to 100 FS (promo code: CG100) |
4.1 |
|
96.com Casino
|
Deposit $5 — Get a 100% Bonus up to $100 |
0.0 |
|
Thunderpick
|
100% First Deposit Bonus up to €2,000 |
4.9 |
|
MyBookie Casino
|
100% First Deposit Bonus of up to $1,000 |
4.0 |
Rundown of the How Betting Odds Work in Crypto Sportsbook
-
Jack.com
-
Vave
-
TrustDice
-
Bets.io
-
Cybet Casino
-
Rainbet
-
Crypto Games
-
96.com Casino
-
Thunderpick
-
MyBookie Casino
Patrick is a seasoned writer with over a decade of experience in online gambling, specializing in research-driven content and expertise in statistical data analysis. His deep understanding of the mathematical aspects of casino betting and sports gambling makes his work both detailed and informative. Patrick has contributed to leading platforms like Race Advisor and Football Advisor. With a Master’s Degree in Literature and Publishing, and two completed works of fiction, he continues to pursue his dream of becoming a bestselling novelist.
