How to Read Betting Odds in Australia
April 14, 2025
If you’ve ever looked at a betting site or heard someone talk about odds and felt completely lost—don’t worry, you’re not alone. Betting odds can seem confusing at first, especially with all the numbers and terms flying around. But once you understand the basics, it becomes a lot easier. And that’s exactly what this guide is here to do: help you learn how to read betting odds in Australia in the simplest way possible.
Whether you’re placing your first sports bet or just want to know how it all works, this beginner’s guide will break it down for you, step by step.
GUIDES
Before you dive into placing a bet, it’s important to understand what odds actually are. Betting odds show you two things:
It’s really just a way of putting numbers to chances. Think of it like this—odds are how the betting site tells you, “Hey, here’s what we think your chances are, and here’s what you’ll get if you’re right.”
Let’s say you’re watching a football game and the odds for Team A to win are 2.50. That number is telling you both the probability (in a roundabout way) and the potential payout. We’ll get into exactly how that works in a bit, but for now, just remember: higher odds usually mean a bigger payout, but a lower chance of winning.
The odds you see aren’t just numbers—they’re the heart of the bet. They help you figure out:
If you want to get better at betting, learning how to read these odds is a must.
Now that you know what odds are, let’s look at the different types you might come across. In Australia, the most common type of odds is called decimal odds, but you might also see fractional odds and moneyline odds if you’re looking at international betting sites.
These are super straightforward, and they’re the standard format on Australian betting sites.
Here’s how they work:
Decimal odds show your total return for every $1 you bet. That includes your original stake.
For example:
Easy, right? That’s why decimal odds are the favorite in Australia.
These look like this: 5/1 or 2/5. They’re not very common in Australia, but you might see them if you’re on a UK-based site or watching horse racing from the UK.
Here’s a quick way to understand them:
Not too tricky, but decimal odds are definitely simpler.
These odds use a plus or minus sign and are mostly used in the U.S.
Examples:
They’re not widely used in Australia, so don’t worry too much about these unless you’re betting with U.S. sites.
If you’re curious, you can convert between these types:
There are free odds converters online too, so no need to do it manually every time.
Now for the fun part—figuring out how much you can win.
With decimal odds, calculating your potential return is super simple:
Stake x Odds = Total Return
Let’s break that down:
Example 1: Simple Win Bet
Example 2: Multi-Bet
If you combine two bets in one (called a multi or parlay):
Just remember: if any part of a multi-bet loses, you lose the whole bet.
There are tons of betting sites out there, but not all are the same. Some have better odds, others have easier-to-use apps or more promotions.
Some of the top Aussie betting platforms include:
These are all legal, regulated, and easy to use, even if you’re just starting out.
Here’s a smart tip: always compare odds before placing a bet.
Different sites might offer slightly better odds for the same event, which means more profit for you if you win.
There are also free odds comparison websites that do the hard work for you. Just search your match, and they’ll show you which bookie offers the best return.
Okay, now that you know what betting odds are and how to read them, let’s talk about how to actually use them wisely.
Don’t rush into multi-bets or exotic options. Stick to:
Once you’re comfortable, you can explore more complex bets.
There are plenty of tools online to help you, like:
These tools can give you a little edge when you’re starting out.
Betting can be fun, but it’s important to set limits and never chase losses. Here are a few golden rules:
Every betting site in Australia has responsible gambling features—use them. Set deposit limits or time reminders to keep things in check.
Learning how to read betting odds is your first big step into the world of sports betting. It might seem a bit overwhelming at first, but trust me—once you practice a few times, it becomes second nature.
One of the best ways to get better is to practice:
This builds your confidence without spending a cent.
The more you know, the better your decisions will be. Follow sports betting blogs, join forums, or watch betting shows to stay up to date.
And remember, the goal isn’t just to win—it’s to have fun and stay in control.
Decimal odds. They’re easy to understand and used by most Aussie bookmakers.
Not always. Odds reflect the bookmaker’s opinion and can change based on team news, injuries, or how people are betting.
Yes. Odds can shift right up until the game begins, especially if there’s breaking news that might affect the result.
Now that you know how to read betting odds in Australia, you’re already ahead of the curve. Just start small, use the tips you’ve learned here, and always remember to bet responsibly. Got a question or want help with your first bet? Drop it in the comments or shoot me a message—I’m happy to help!