Betting Odds Explained: Decimal and Hong Kong Worked Examples
By JLJL88 Editorial Team
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What do betting odds explained simply tell me? Two things at once: what a winning bet pays, and how likely the book thinks the result is. The arithmetic is short once you see it.
Which formats matter here? Decimal and Hong Kong. Both are plain multiplication.
Betting Odds Explained With Peso Payouts
How does decimal work? Multiply the stake by the price. ₱500 at 1.85 returns ₱925 in total, and the profit is ₱925 minus ₱500, which is ₱425.
How does Hong Kong differ? It shows profit only. The same price is 0.85, so ₱500 times 0.85 is ₱425 of profit and the ₱500 stake is yours already.
| Decimal | Hong Kong | ₱500 stake: total back | Profit |
|---|---|---|---|
| 1.50 | 0.50 | ₱750 | ₱250 |
| 1.85 | 0.85 | ₱925 | ₱425 |
| 2.50 | 1.50 | ₱1,250 | ₱750 |
What is the conversion rule? Subtract 1 from decimal for Hong Kong, and add 1 to go the other way.
What a Price Says About Chance and Margin
How do I read the chance? One divided by the decimal price. At 1.85 the sum is 1 / 1.85, about 54.1%.
Why do two prices add up to over 100%? Take a two-way market with 1.85 on each side. Each implies 54.05%, together 108.1%. The 8.1 points above 100 are the book’s margin.
- Convert each price to its implied chance.
- Add them for the whole market.
- Anything over 100% is the margin you pay to bet.
Combining Bets and Voids
| Picks combined | Prices | Combined price | ₱500 returns |
|---|---|---|---|
| One | 1.85 | 1.85 | ₱925 |
| Two | 1.85 and 1.90 | 3.515 | ₱1,757.50 |
What happens when I join two picks? The prices multiply. 1.85 times 1.90 is 3.515, so ₱500 returns ₱1,757.50 in total. If one pick loses, the whole bet loses.
What if a leg is voided? It counts as 1.00 and the others keep their prices. With the 1.90 leg void, ₱500 at 1.85 returns ₱925.
Using the Arithmetic at the Table
- Convert the price to a return.
- Convert it to a chance.
- Compare the chance with your own view.
Where do I apply this? On every market. NBA spread and total prices and football 1X2 and handicap prices use the same sums. The sports betting section lists the age and licensing rules, and the age is 21.
Does knowing odds make a bet profitable? No. It tells you what you would be paid, not whether the price is right. To place a bet, login to check prices on screen or register to use these sums first.
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