Decimal Odds System Question

[tajhay]

OK, i think the problem is this. In Australia/NZ and UK(i believe) the sports betting sites use the decimal notation where 1.01 is the lowest value bet you can make.

If i put $100 on those odds, i would win $1 + get my stake of $100 back = $101.

In the US it seems you guys follow that a 1.01 bet will double up your stake.

It seems sportsbook is following a US betting model, where a bet of 1.00 means you can double up. That is not the case with us. If you look at any of the sports betting sites in these countries you will see that the odds are never less than 1.00 for any of the outcomes and hence the current decimal notation that sportsbook can handle would be incorrect.

check out some of these sites : sportsbet.com.au, centrebet.com.au, bet365.com etc.

Is it possible that this can be catered for, as we do not get 'fraction' based odds on our sites here. In order to use sportsbook as such would require additional calculations based on the odds from any of these sites to remove the stage from the equation.

 

[Bob]

I moved this out of your Bugs thread as this has absolutely nothing to do with the bug that you filed.

Sportsbook uses FRACTIONAL Odds System. ie 2 to 1, 5 to 1, 2 to 5, 110 to 100, 100 to 120 etc. It does not use the DECIMAL Odds System. The visual "decimals" that you see on the display to the right of the Fractional Odds are NOT actual "Decimal Odds" as you are wanting/expecting them to be. Those are the decimal representation of a fraction (basic math). Two totally different things.

Being that those displayed (decimals) next to the Fractional Odds are confusing people, I am actually seriously considering removing them from Sportsbook all together. People continue to think that they represent the "Decimals Odds System" when that is not the case. So to nip that in the bud (so to speak), the next release of Sportsbook will most likely have them removed.

As far as implementing an actual Decimals Odds System in place of the Fractional Odds System, I MIGHT be interested in doing something like that at some point, however, that is a rather large undertaking, so it won't be any time soon.

 

[Kintaro]

OK, i think the problem is this. In Australia/NZ and UK(i believe) the sports betting sites use the decimal notation where 1.01 is the lowest value bet you can make.

http://addons.nfljunkies.com/threads/decimal-odds.97/

Being that those displayed (decimals) next to the Fractional Odds are confusing people, I am actually seriously considering removing them from Sportsbook all together. People continue to think that they represent the "Decimals Odds System" when that is not the case. So to nip that in the bud (so to speak), the next release of Sportsbook will most likely have them removed.

Urgh! Removed?!

 

[Bob]

Urgh is my reaction every time this subject is brought up. Im NOT going to remove it, but I am going to disable it by default AND going to include some phrasing changes on the wordalogy of it so that if they choose to enable it, they will know what it does and does not represent.

 

[tajhay]

the problem i have is, that even if i wanted to use fractions it will be hard to do. My odds are off sportsbet.com.au which uses odds of 2.00 to indicate a double up odds (rather than 1.00 used by sportsbook). I dont want the guys doing the bookie odds to have to go through complex excel formulas to create fractions to just enter some sportsbets for the members. Dont think we can even use this now

 

[Kintaro]

I use this to convert: http://oddsconverter.co.uk/

and I made a mod (with the input of Bob) to visualize decimal odds like the european's.

 

[Bob]

I understand that you want a completely different system. You want a Decimal based Odds System. I didn't design this to be a decimal based odds system. I designed it from the ground up to be a fractional based odds system.

Fractional based odds are not hard or complex. They are about the easiest thing to understand in the betting world. 2 to 1 (2.00) means that you win 2 for every 1 you stake (plus your stake back on a win).

In its simplest form....

$10 on a 1-1 (1.00) = $10 in winnings + $10 stake back for a total of $20 returned to your account.
$10 on a 2-1 (2.00) = $20 in winnings + $10 stake back for a total of $30 returned to your account.
$10 on a 5-1 (5.00) = $50 in winnings + $10 stake back for a total of $60 returned to your account.
$10 on a 10-1 (10.00) = $100 in winnings + $10 stake back for a total of $110 returned to your account.
$10 on a 100-1 (100.00) = $1000 in winnings + $10 stake back for a total of $1010 returned to your account.

Get with kintaro81.... he uses it just fine with European Decimal Odds.

 

[sitwi]

Is it possible to maybe include a single post on your board to explain the fractional odds?

If it doesn't fit with the standard Australian format to displaying odds, it's not a hard concept to grasp - 2/1 pays winnings of double the stake, 3/1 pays winnings of treble the stake etc. Otherwise look for a simple script to calculate winnings based on the stake entered?

 

[Sheldon]

Just use Skybet.com, list all odds exactly as you need. Only thing you have to convert is the time matches are played (shows UK time). Easy for me, I just subtract 5 hours... Has tons and tons of options as far as what matches to wager on.

 

[Kintaro]

it's all published here: http://addons.nfljunkies.com/threads/european-decimal-odds-display.100/