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As an instance, odds of 1.500 mean that one stands to get a payout of $1.5 for each $1 guess, for a win of $0.5 on every greenback. Odds of two.000 would lead to a payout of $2 for each $1 bet, or will double your bet in case of a positive outcome. Known as “European” odds and “digital” odds, these are used throughout Europe, Canada, Australia and New Zealand. Their primary benefit is that one can immediately spot who’s the favourite and who’s the underdog – the previous could have the bottom odds and the latter – the highest. Typically written with a precision of three digits after the decimal level, decimal odds show the anticipated payout for every greenback wagered. In fractional kind, odds of one out of five can be represented because the fraction “5/1”, learn “5 to 1”.