US vs. European Betting Markets: Odds formats, cultural differences & what bettors should know

JUMP TO:

• How US and European betting markets differ
• Odds Formats Explained: American, decimal & fractional
• Cultural differences in US vs. European betting
• Sports popularity and market size comparisons
• How bettors can convert odds between formats
• Pros and cons of betting markets in US, Europe

New sports bettors pop up all over the world each day, with at least an estimated 77 million people (and growing) at least dabbling in wagering each day in the United States.

The betting markets can vary greatly from one part of the globe to another, though, and it's worth knowing the key differences early on.

Keep reading to see how two of the biggest sports betting markets — the United States and Europe — differ in terms of their betting markets. We'll explain the contrast in odds formats, the cultural differences of the US and European markets, highlight which sports dominate each market and list the pros and cons of each betting market style.

How US and European betting markets differ

Key differences in the US and European betting markets include odds formats, regulatory oversight, types of bets and the cultural aspects and approaches to gambling in general. 

The biggest contrast: The European market is much more mature, while the US market is ever-evolving with millions of new bettors each year.

Before 2018, sports betting was federally prohibited in the United States. Now, around two-thirds of the nation has legalized, with even more states in the process of repealing their gambling bans, including the upcoming Missouri sports betting legalization scheduled for December 2025.

The fact that many US states have different specific sports betting laws also means that Europe has more of a uniformity to its betting systems. Much of the US is still figuring it out, while most of Europe has enjoyed legalized online gambling for decades.

Cultural differences exist, too. With Americans much more diehard with a larger amount of sports — and possessing less overall betting experience — most US bettors tend to bet more often and gamble larger amounts per bet than Europeans.

Odds Formats Explained: American, decimal & fractional

The market betting standard in Europe is European odds, also known as decimal odds. Decimal odds represent the total potential payout for every $1 wagered, including the original stake. Thus, odds of 2.50 mean a $100 bet would pay out a winning sum of $250 ($100 stake + $150 profit).

The standard odds in the US are American odds, also known as moneyline odds. Odds within this format indicate either the amount one must wager to win $100 (for favorites, shown with a minus sign) or the amount one would win on top of a $100 stake (for underdogs, shown with a plus sign).  

Fractional odds, also known as British odds, also remain popular throughout parts of the UK. Odds in this format represent the ratio of potential profit to the stake. For example, 5/1 odds mean a $100 bet could win $500 in profit ($600 total returned). 

Cultural differences in US vs. European betting

In Europe, sports betting is generally viewed as a recreational activity or form of entertainment. Most casual bettors tend to place small wagers just for fun, whereas American bettors often wager larger amounts and more frequently with the goal of making money. 

This could be in large part because much of Europe has enjoyed legalized sports betting in some capacity for decades already, while the US only lifted its federal sports gambling ban recently and still has many states opting to keep it illegal. 

Sports popularity and market size comparisons

In Europe, the most common sport to bet on is — you guessed it — European football (soccer betting). Horse racing remains quite popular, as well, although markets can vary depending on country.

In much of Europe, you can bet on most global sports and even on novelty events like politics or reality TV outcomes. Betting on the underdog is popular, likely a domino effect from many generations of horse betting in the continent.

The United States betting market is largely dominated by the core four American sports: football, basketball, baseball and hockey.

The NFL betting market leads the way in the US, followed by NBA, MLB, NHL and NCAA tending to drive the biggest betting numbers afterward. The WNBA recently began to generate a lot of action, and even major international events like the Olympics and World Cup always do well.

Many US sportsbooks also allow non-sports betting, with novelty props and futures involving the Academy Awards, politics and reality shows. Operators in the US have learned from Europe through the years, adapting different styles of betting and types of wagers like same-game parlays and live or in-game prop bets. 

How bettors can convert odds between formats

While American odds use positive or negative numbers, fractional odds obviously use fractions and decimal odds obviously use decimals. As you learn how to bet, you'll be able to do these conversions quickly, but here's a quick summary on how to read them in each format.

Moneyline odds (American odds)

With moneylines, favorites have negative (-) odds, with the number indicating how much you would need to risk to make your potential profit $100. Underdogs have plus (+) odds, with the number indicating what you would win on a $100 bet.

Fractional odds (British or UK odds)

Fractional odds display your potential profit relative to your stake. As you probably could have guessed, they are written as a fraction, such as 12/1 or 7/2. The fraction A/B means you will win 'A' units of profit for every 'B' units you put at stake. Fractional odds of 1/1, aka "even money," are double-your-money wagers, much like +100 in American odds or 2.0 in decimal odds. 

Decimal odds (European odds)

Decimal odds represent the total return for every $1 wagered, including your original stake. Odds greater than 2.0 represent an underdog (a riskier bet with a higher potential payout). Odds less than 2.0 represent a favorite (a safer bet with a smaller payout).  To calculate decimal odds, multiply your stake by the decimal odd to calculate your total return.

U.S. Odds conversion chart

Use the conversion chart below to see how to easily translate odds from fractional and decimal to American lines:

MORE: Betting glossary of common terms

Pros and cons of betting markets in US, Europe

European online betting markets and platforms have been around for a lot longer than most American markets, so they tend to be a lot more mature. The systems are generally more sophisticated, with more polished user interfaces and user-friendly mobile apps.

That said, the US market has been steadily improving as operators catch up and more of the nation legalizes betting. With most licensed sportsbooks now partnered with pro leagues, teams and casinos, the funding is immense and the focus on mobile optimization and user-friendly interfaces is a top priority. 

Here's some more pros and cons to each betting market.

Pros of betting on European markets

• Access to more sports and events: European sportsbooks feature betting on a wider variety of soccer leagues, international horse racing, and niche sports not commonly available in the US.
• Market maturity and strong liquidity: In many parts of Europe, sports betting has been legal and established for decades, so the markets are more mature. European books offer fixed-odds horse race wagering, for instance, compared to the pari-mutuel system common in the US.
• Sharper odds and better promos: Due to the high level of competition and market saturation in Europe, some sportsbooks may offer more competitive odds or lower juice (the sportsbook's commission) on certain lines. This can increase potential returns for savvy bettors. Many books also offer strong promos and bonuses.

Cons of betting on European markets

• Varying regulation across countries: Much like the United States with different laws by state, Europe's gambling regulations are fragmented and vary by country. This can complicate betting for those moving from country to country or visiting different regions.
• Restrictions on sharp bettors: Like many American casinos and sportsbooks, some major European books may limit or restrict the accounts of successful pro bettors ("sharps") who consistently win. This is a tactic used to protect their bottom line and avoid significant liability.
• Slower payouts or transaction fees: While many sites offer fast payouts, some have transaction fees or delays, particularly for international transfers. Other books limit how frequently users can cash out.

Pros of betting on American markets

• Protection for bettors: Legal, licensed and regulated sports betting includes consumer protections and measures to ensure fair play, and operators report suspicious betting activity to safeguard the integrity of sports.
• Convenience and accessibility. The proliferation of mobile betting apps has made sports betting convenient and accessible for a wide audience in the US. Apps are often quite user-friendly and offer a variety of sports and betting options, along with tools that could help bankroll management.

Cons of betting on American markets

• Rise in problem gambling: Increased ease of access and constant sports betting advertisements have led to an alarming rise in problem gambling in the US. Many in the younger and lower-income populations, in particular, have endured gambling addiction issues. 
• Exploitation of inexperienced bettors: Operators' use of algorithms help them identify and target bettors who show addictive and vulnerable behaviors. Instead of cutting them off, some operators use personalized offers to encourage them to bet more frequently.