Sports betting is a popular activity that involves placing wagers on the outcome of sporting events. To be successful in sports betting, it is important to understand how to read sports betting odds. In this article, we will discuss the basics of sports betting odds and how to read them. Sports betting odds are used to indicate the probability of a particular outcome in a sporting event. They also indicate the payout that will be received if the bet is successful. Sports betting odds can be expressed in three different formats: decimal, fractional, and American. Decimal odds are the most common type of odds used in Europe and Australia. They are expressed as a decimal number that represents the total payout including the original stake. For example, if the odds are 2.50 and you bet $100, your potential payout would be $250 ($100 x 2.50). Fractional odds are the most common type of odds used in the UK and Ireland. They are expressed as a fraction that represents the potential profit over the original stake. For example, if the odds are 5/1 and you bet $100, your potential profit would be $500 ($100 x 5/1). American odds are the most common type of odds used in the United States. They are expressed as either a positive or negative number. A negative number indicates the amount that would need to be bet to win $100, while a positive number indicates the amount that would be won if a $100 bet is successful. For example, if the odds are -120, you would need to bet $120 to win $100. If the odds are +120, you would win $120 if you bet $100.