Decimal Odds vs American Odds in Canada: How Each Format Works, How to Convert Between Them and Which One to Use

Updated 20 Oct 2026 · By the BetHubCA Editorial Team

Canada sits in a funny spot when it comes to betting odds. Turn on a hockey broadcast and the panel talks about a team being −150. Open most betting sites and you see 1.67 instead. Same bet, same price, two completely different-looking numbers. If you've ever squinted at a screen trying to figure out whether +130 is better than 2.25, you're not alone. So let's settle it properly: how decimal odds work, how American odds work, how to switch between them in your head, and which one you should actually set your account to. It's easier than it looks, I promise.

A few ground rules first. The legal betting age is 19 in most provinces and 18 in Manitoba and Quebec, and this site isn't for residents of Ontario or Alberta. Cloudbet, the book linked on this page, holds a Curaçao licence and is not authorized by any Canadian province. All prices and stakes below are illustrative examples for learning the formats, not live lines.

Why Canadians see both formats

Decimal odds are the standard in Europe, Australia and much of the world, and many betting sites that serve Canada show them by default. American odds, also called moneyline odds, are the standard in the United States, and because so much of the sports media Canadians watch comes from US networks and podcasts, those numbers are everywhere on TV and social media. The result is that Canadian bettors constantly bump into both. Most sites let you switch between them in your account settings, so it's worth understanding each one well enough to choose.

How decimal odds work

Decimal odds tell you the total amount you get back for every $1 you bet, including your stake. That's the whole idea.

• At 2.00, a $10 bet returns $20: your $10 back plus $10 profit.
• At 1.50, a $10 bet returns $15: $10 back plus $5 profit.
• At 3.40, a $10 bet returns $34: $10 back plus $24 profit.

The formula is simple: total return = stake × decimal odds, and profit = stake × (decimal odds − 1).

A few quick rules make decimal odds easy to read:

• Anything below 2.00 is a favourite. You win less than you risk.
• Exactly 2.00 is even money. You win what you risk.
• Anything above 2.00 is an underdog. You win more than you risk.
• The number can never be below 1.00, because you always get at least your stake back on a win.

How American odds work

American odds use a plus or minus sign, and the sign changes how you read the number.

Minus odds: the favourite

A minus number tells you how much you'd need to bet to win $100 in profit. At −150, you'd bet $150 to win $100. At −200, you'd bet $200 to win $100. The bigger the minus number, the bigger the favourite.

Plus odds: the underdog

A plus number tells you how much profit you'd make on a $100 bet. At +150, a $100 bet wins $150. At +300, a $100 bet wins $300. The bigger the plus number, the bigger the underdog.

Even money

+100 and −100 both mean even money: bet $100, win $100. You'll usually see it written as +100 or "EV" or "EVEN."

Of course you don't have to bet $100. The numbers just scale. At −150, a $15 bet wins $10. At +150, a $10 bet wins $15. The profit formulas are:

• Minus odds: profit = stake × 100 ÷ odds (ignoring the minus sign). So $30 at −150 wins $30 × 100 ÷ 150 = $20.
• Plus odds: profit = stake × odds ÷ 100. So $30 at +150 wins $30 × 150 ÷ 100 = $45.

Unlike decimal odds, American odds show profit only. Your stake comes back on top.

The same bets in both formats

Here's an illustrative NHL slate shown both ways, with the payout on a $20 bet:

Look at how much easier the decimal column is for working out your return. Multiply $20 by the decimal and you're done. With American odds you need to remember which formula goes with which sign.

Converting American odds to decimal

Two formulas, one for each sign:

• Plus odds: decimal = (American ÷ 100) + 1. So +150 becomes 1.50 + 1 = 2.50. +240 becomes 2.40 + 1 = 3.40.
• Minus odds: decimal = (100 ÷ American, without the minus sign) + 1. So −150 becomes 100 ÷ 150 + 1 = 0.667 + 1 = 1.67. −250 becomes 0.40 + 1 = 1.40.

A shortcut for plus odds: move the decimal point two spaces left and add one. +175 becomes 1.75 plus 1 = 2.75. That one you can do in your head in a second.

Converting decimal odds to American

Again, two formulas depending on whether the decimal is above or below 2.00:

• Decimal 2.00 or higher: American = (decimal − 1) × 100, with a plus sign. So 2.80 becomes 1.80 × 100 = +180.
• Decimal below 2.00: American = −100 ÷ (decimal − 1). So 1.50 becomes −100 ÷ 0.50 = −200. 1.80 becomes −100 ÷ 0.80 = −125.

If you'd rather skip the maths, our odds calculator converts any format instantly.

Full conversion chart

Decimals are rounded to two places, which is why you might see −150 shown as 1.66 on one site and 1.67 on another. Small differences like that come from rounding, not from a different price.

What about fractional odds?

Fractional odds, like 5/2 or 4/1, are traditional in the UK and Ireland and still pop up in horse racing everywhere. They show profit relative to stake: 5/2 means you win $5 for every $2 you bet. To convert to decimal, divide the fraction and add one: 5/2 = 2.5, plus 1 = 3.50. You'll rarely need them in Canada outside of racing, but it's handy to recognise them. If you bet on the ponies, our guide on how to bet on a horse covers racing prices.

Turning any format into a probability

This is the most useful skill of all, because it tells you how likely the book thinks something is.

• Decimal: implied probability = 1 ÷ decimal. 2.50 → 40%.
• American minus: odds ÷ (odds + 100). −150 → 150 ÷ 250 = 60%.
• American plus: 100 ÷ (odds + 100). +150 → 100 ÷ 250 = 40%.

Decimal wins again for simplicity: one formula for everything. This is a big reason serious bettors tend to prefer it. Once you know the implied probability, you can compare it with your own estimate. If you think a team wins 45% of the time and the price implies 40%, you might have found value. Our guide to value bets explained takes that idea further.

Spotting the margin in each format

Add up the implied probabilities of both sides of a market and you'll get more than 100%. The extra is the book's margin.

Illustrative example on a CFL game: Team A −140, Team B +120.

• Team A: 140 ÷ 240 = 58.3%
• Team B: 100 ÷ 220 = 45.5%
• Total: 103.8%, so a margin of about 3.8%

In decimal, the same market is about 1.71 and 2.20: 1 ÷ 1.71 = 58.5%, 1 ÷ 2.20 = 45.5%, total about 104%, the small difference again coming from rounding. Either way, the method works. It's just quicker in decimal. A common US-style market you'll see constantly is −110 on both sides, which is 1.91 / 1.91 and a margin of about 4.8%.

Which format makes parlays easier?

Decimal, by a mile. To price a parlay in decimal, you just multiply the legs. Three legs at 1.80, 2.10 and 1.50 give 1.80 × 2.10 × 1.50 = 5.67. A $10 parlay returns $56.70.

In American odds, you'd have to convert each leg to decimal first anyway, multiply, then convert back. −125, +110 and −200 become 1.80, 2.10 and 1.50, the same 5.67, which is about +467. No one does that in their head. Our parlay calculator handles it if you're stuck with American odds.

Common mistakes when switching formats

• Reading decimal as profit. 2.50 doesn't mean you win $2.50 per dollar. It means you get $2.50 back in total, so $1.50 profit.
• Forgetting the sign in American odds. +150 and −150 are completely different bets. One is an underdog, one is a favourite.
• Comparing across formats without converting. Is +130 better than 2.25? Convert: +130 is 2.30, so yes, slightly.
• Mixing up the −110 standard. −110 is 1.91, not 1.10. A 1.10 price would be −1000, a huge favourite.
• Ignoring rounding. 1.66 vs 1.67 on the same game is usually just rounding, not a better price.

Which format should you use?

Honestly, use the one that lets you think fastest. That said, here's how they compare:

Many Canadian bettors land on a hybrid: they set their account to decimal for the maths and keep a mental conversion for the American numbers they hear on TV. If you follow a lot of US sports content, it's worth memorising a few anchors: −110 = 1.91, −150 = 1.67, −200 = 1.50, +150 = 2.50, +200 = 3.00. With those five, you can estimate almost anything.

A quick practice set

Try these before peeking at the answers:

1. Convert +180 to decimal.
2. Convert 1.40 to American.
3. What's the profit on a $25 bet at −125?
4. What's the implied probability of 4.00?
5. Which is the better price: 2.10 or +115?

Answers: 1) 2.80. 2) −250. 3) $20. 4) 25%. 5) +115 is 2.15, so +115 is slightly better.

Tax and the law

For most recreational bettors in Canada, gambling winnings are generally not treated as taxable income, though people who bet in a business-like way can be an exception. Our guide to tax on betting winnings covers it. Each province sets its own gambling rules, so read is online betting legal in Canada before signing up anywhere.

Keep it fun

Knowing how to read odds properly helps you understand exactly what you're risking, which is the first step to betting responsibly. Set a budget before you start and stick to it. If betting stops feeling like entertainment, free and confidential help is available: Gambling Support BC at 1-888-795-6111, and Jeu : aide et référence in Quebec at 1-800-461-0140. You'll find more options on our responsible gambling page.

My take

Decimal and American odds describe exactly the same thing, just in different languages. Decimal shows your total return and makes probability and parlay maths simple, which is why I'd set my account to decimal. American odds are worth understanding because you'll hear them on every broadcast and podcast. Learn the two conversion formulas, memorise a few anchor prices, and always turn a price into a probability before you bet. Once you can do that in either format, you'll never be confused by a betting slip again.