So you have fractional odds where a football team might be 6/4 to win a particular match. Then you have decimal odds where a team would be 2.50 when expressed in this format.
Then you have something called moneyline, where the quote can either be a positive or a negative one. So if we’re giving a positive figure such as +400, then that would indicate the selection is 4/1 because that’s the profit you would get with a $100 wager.
When we’re talking about an odds-on shot, then the figure is a negative one as it indicates the amount needed for the wager to win the magical $100 amount.
So if Manchester United are 1/2 to win a particular football match, then the moneyline odds would be expressed as -200. Because you would need to slap down $200 to realise a $100 profit with this bet.
If you’re opening an account with a bookmaker who has its roots in north America, then it’s common to find these odds available. Also, when you’re betting on American sports such as basketball and NFL with any bookmaker, you might see this format on offer.
The moneyline never refers to bets on points spread so when you see these odds available, it will always point to a market based solely on the result of a particular match.
For the 2016 Super Bowl, then William Hill created a moneyline market which saw Carolina Panthers at -250 and Denver Broncos at +200. That means the Panthers are strong favourites at fractional odds of 2/5, while the Broncos are 2/1 outsiders.