Golf Odds Explained: American, Decimal, and Fractional

I remember the first time I looked at golf betting odds. I saw +1200 next to one player, 9/1 next to another, and 12.00 next to a third. They all looked completely different, but here’s the thing: they represented the exact same bet.

Understanding golf odds is simpler than most people think. The three main formats (American, decimal, and fractional) are just different ways of expressing the same information: how much you’ll win if your bet succeeds. Once you know the basic math behind each format, you can compare prices across sportsbooks and spot value opportunities that less informed bettors miss.

American Odds: The Plus and Minus System

American odds are what you’ll see at most US sportsbooks. They’re built around a $100 baseline and use plus and minus signs to show favorites and underdogs.

When you see a minus sign (like -150), that number tells you how much you need to bet to win $100. So if Scottie Scheffler is listed at -150 to win a tournament, you’d need to wager $150 to profit $100. Your total return would be $250 (your $150 stake plus $100 profit).

When you see a plus sign (like +800), that number tells you how much you’ll win if you bet $100. If you bet $100 on a player at +800 and they win, you’d profit $800. Your total return would be $900 (your $100 stake plus $800 profit).

The math scales proportionally. A $50 bet at +800 would profit $400. A $75 bet at -150 would profit $50.

Fractional Odds: The Traditional Format

Fractional odds are the oldest format, popular in the UK and Ireland. You’ll see them written as fractions like 8/1 (read as “eight to one”) or 5/2 (read as “five to two”).

The number on the left tells you how much you’ll win. The number on the right tells you how much you need to stake. So 8/1 means you’ll win $8 for every $1 you bet. A $10 wager at 8/1 would profit $80, giving you a total return of $90.

Here’s a quick video that breaks down how odds work across different formats:

The key takeaway is that fractional odds show pure profit, not total return. When you calculate your winnings, you always get your original stake back on top of the profit shown in the odds.

Decimal Odds: The Simplest Math

I think decimal odds are the easiest format to work with, especially when you’re calculating potential returns on the fly. They’re standard in Europe, Australia, and Canada, and they’re gaining popularity in the US.

Decimal odds represent your total return per dollar wagered, including your stake. If a player is listed at 9.00, a $10 bet would return $90 total (9.00 x $10). Your profit would be $80 ($90 total return minus your $10 stake).

The math is incredibly straightforward. Multiply your stake by the decimal odds, and that’s what you get back if you win. A $25 bet at 3.50 returns $87.50. A $100 bet at 1.50 returns $150.

Converting Between Formats

What I’ve found most useful is knowing how to convert between formats. This lets you compare odds across different sportsbooks, even if they display in different formats.

To convert American odds to decimal: For positive odds, divide by 100 and add 1. For negative odds, divide 100 by the absolute value and add 1. So +800 becomes (800/100) + 1 = 9.00, and -150 becomes (100/150) + 1 = 1.67.

To convert fractional to decimal: Divide the left number by the right number and add 1. So 8/1 becomes (8/1) + 1 = 9.00, and 5/2 becomes (5/2) + 1 = 3.50.

To convert decimal to American: For odds above 2.00, subtract 1 and multiply by 100. For odds below 2.00, divide -100 by (odds minus 1). So 9.00 becomes (9.00 - 1) x 100 = +800, and 1.67 becomes -100 / (1.67 - 1) = -150.

Understanding Implied Probability

Behind every set of odds is an implied probability. The sportsbook is telling you what they think the chances are of that outcome happening. Understanding implied probability alongside how strokes gained predicts PGA Tour winners is what separates casual bettors from sharp ones.

The formula for decimal odds is simple: Implied Probability = (1 / Decimal Odds) x 100. So odds of 9.00 imply an 11.1% chance of winning. Odds of 1.67 imply a 60% chance.

For American odds, the math is slightly different. For positive odds: Implied Probability = 100 / (Odds + 100) x 100. For negative odds: Implied Probability = Absolute Value of Odds / (Absolute Value of Odds + 100) x 100.

When you add up the implied probabilities for all possible outcomes in a market, they’ll always exceed 100%. That excess is the “vig” or “juice,” which is how the sportsbook makes money. A market with 105% total implied probability has about 5% vig.

Get the Edge on Every Tournament

AI-powered predictions, data-driven analysis, and expert picks delivered before every PGA Tour event.

Try Golf Agent Pro

Real Golf Betting Examples

Let me walk you through how this works in actual golf tournaments. At the 2024 Masters, Scottie Scheffler was listed around +400 (5.00 decimal, 4/1 fractional) to win outright. That implied a 20% probability.

A $100 bet at +400 would profit $400, returning $500 total. The same bet expressed in decimals (5.00 x $100 = $500) or fractions (4/1 means $400 profit on $100) gives you identical returns.

Meanwhile, a long shot like Tom Kim might be listed at +10000 (101.00 decimal, 100/1 fractional). The implied probability there is just 1%. A $10 bet would profit $1,000 in American odds, return $1,010 in decimal odds (101.00 x $10), or win $1,000 on fractional odds (100/1).

Which Format Should You Use?

I recommend getting comfortable with all three formats, but decimal odds are my go-to for quick calculations. When I’m comparing odds across multiple sportsbooks, decimal makes it instantly clear which site is offering the best price.

That said, American odds are what you’ll encounter most often at US books. Understanding the plus/minus system helps you quickly identify favorites and underdogs without doing any math.

Fractional odds are less common for American bettors, but you’ll see them at UK-based sportsbooks and in racing markets. They’re particularly useful for understanding traditional betting terminology and historical odds references.

The Practical Edge

What really matters isn’t which format you prefer, but whether you can spot value. If you believe a player has a 25% chance of winning but the odds imply only 20% (like that +400 example), that’s a value bet.

I’ve found that shopping odds across multiple sportsbooks can often add 5-10% to your returns. One book might have a player at +1200 while another has them at +1400. That’s the difference between $120 and $140 profit on a $10 bet. Over time, these edges compound significantly.

The best golf bettors I know maintain accounts at 3-5 sportsbooks specifically to capture these differences. They convert everything to decimal odds for easy comparison, then place their bets wherever the number is highest. Those just getting started with golf betting should prioritize learning to recognize value across different odds formats before worrying about advanced strategies.

Looking for an edge on the PGA Tour? Golf Agent Pro delivers AI-powered insights for every tournament.