How to Use Hong Kong Odds

Although seemingly intimidating, Hong Kong odds are incredibly easy to grasp. They are one of the most popular odds formats available in online sportsbooks in Asia. Of course, many sports betting sites in the Philippines offer them, too. Like other odds formats, Honk Kong odds are a simple expression of the relationship between your bet size and potential profit. In this guide, we’ll walk you through all the basics, like how they work and how to convert them to other formats.

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The Basics

Many online sportsbooks in Asia support Hong Kong odds. In fact, this format is often the default setting on betting platforms in Asia despite not being so popular elsewhere. These betting odds are similar to the American ones and are very easy to understand. Moreover, this format can be applied to almost all betting sports, hence why the sports betting industry is very developed in Hong Kong.

For those who are just getting started, Hong Kong odds are an excellent option as you won’t have to deal with negative values. All values in this odds system are above 0 and are expressed as decimals. Naturally, even odds are displayed as “1” and have a 1:1 payout ratio. For odds values below one, the potential profit is less than 1:1 as they apply to bets on favorite teams. On the other hand, any odds value above 1 is considered an outside shot.

How Hong Kong Odds Work

The Hong Kong format works in a pretty straightforward way and is rather similar to the fractional one. But unlike fractional ones the values here are in decimals, like for example 0.4. Despite that, you can easily determine what will happen to your wager if it wins by simply looking at the odds value. Hong Kong odds can be split into three categories:

• Odds lower than one (e.g. 0.4) are used for favorite teams. In other words, your winnings per unit wagered will be less than one unit. 
• Odds equal to one indicate an even money bet – a bet with a 1:1 payout ratio. So, for every unit you wager you’ll win one more.
• Odds values higher than one have higher payout and are used for the underdogs. In this case, you’ll win more than one unit per unit wagered.

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How to Use Hong Kong Odds

Hong Kong odds are especially popular in Asia. Hence, you’ll be able to find plenty of sportsbooks in the Philippines that offer this format. It’s a very simple and effective betting odds format, so we recommend it for punters of all skill levels. In fact, these odds are particularly good for beginners since there are no negative values. Of course, this also means that you can calculate your potential winnings very easily, too. To calculate your profit, you simply have to multiply your stake by the odds value. Here’s the formula for that:

• Stake x Hong Kong odds = Profit 

So if your bet is 100 PHP and the odds are 0.4, then your profit is 40 PHP. Calculating the full payout is just as simple – just add 1 to the odds value before multiplying that by your stake. For instance, with the same bet size and odds as before, you’d get a payout of 140 PHP. We use the following formula to compute that:

• (Hong Kong odds + 1) x Stake = Payout 

Converting to Decimal Odds

Unlike other types of betting odds, Hong Kong odds often can’t be converted automatically. Therefore you’ll likely have to do the math yourself in order to convert. However, manual calculation, in this case, is not at all complicated and you’ll just need to follow a formula. Switching to decimal odds is the simplest of all. To convert to the decimal format simply add one to the odds value. Here’s how the formula looks like:

• Hong Kong odds value + 1 = Decimal odds

So, for instance, if you have odds of 0.5 and want to convert them to decimal odds, the calculation is as follows:

• 0.5 + 1 = 1.5 (decimal odds)

Summary

Hong Kong odds are a very popular format in Asia. In fact, they are available on the majority of online sports betting websites in the Philippines. Because of their simplicity, many players prefer to use them over other formats. Moreover, these odds can be applied to virtually all betting sports which makes them very versatile. 

In addition, conversion to other formats like decimal odds, for example, is incredibly easy. All you need to do is to follow a basic formula and within seconds you can switch between odds. Hence why we recommend Hong Kong odds to all punters and especially beginners. If you’re looking for a great sports betting platform to try them out, have a look at our sportsbook reviews collection. There you’ll find detailed information about the best online sports betting available online in the Philippines today.

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