How do I read NFL betting lines that use Decimal Odds or European Odds?

To read and interpret NFL betting lines using decimal odds, follow these steps:

Understanding Decimal Odds

Decimal odds, also known as European odds, represent the total payout you would receive on a winning bet, including your original stake. They are expressed as a decimal number, such as 1.50 or 2.75.

Calculating Payouts

To calculate your potential payout with decimal odds, use the formula:

Payout = Stake * Decimal Odds

Example 1: If you bet $100 on a team with decimal odds of 1.80, your total payout would be:

100 * 1.80 = 180

Your profit would be $80, as the payout includes your original $100 stake.

Example 2: If you wager $50 on a team with odds of 2.50, the payout would be:

50 * 2.50 = 125

Here, your profit would be $75, plus the return of your $50 stake.

Interpreting Decimal Odds

Odds Greater Than 2.00: These indicate that the potential return is greater than your stake, suggesting the team is an underdog.
Odds Less Than 2.00: These suggest that the potential return is less than your stake, indicating the team is a favorite.

Implied Probability

Decimal odds can also be used to calculate the implied probability of an outcome occurring, using the formula:

Implied Probability = 1/Decimal Odds

Example: For decimal odds of 2.50, the implied probability is:

1/2.50 = 0.4 or 40%

This means there is a 40% implied chance of the event happening.

Decimal odds provide a straightforward way to understand potential returns and probabilities, making them popular in many parts of the world for their simplicity and ease of use[1][2][4].