Decimal Odds Betting Explained
In the world of online sports betting understanding the betting odds is essential if you want to place a successful bet. The betting odds give you an indication of the likelihood of the bet winning, as well as the amount you stand to be paid out if you choose to place the bet. With sports like horse racing, it is easy to see which horses are pipped to win the race simply by looking at the odds.
Before placing any significant bet, it is always best to ensure you have found the best odds for the particular event and market you want to place a wager on. Sports betting odds are usually displayed in 1 of 3 ways. Firstly, they can appear as fractional odds such as 2/1 (two to one) or as American odds such as -150 or +155. In New Zealand, most off the odds are displayed as decimal odds such as 2.10 or 5.40.
Casinos with a sportsbook
12 operators run a sportsbook beside the casino lobby, with one account for both. Terms below are the ones they publish.
Listing checked
- 1
N1Bet CasinoHas a sportsbook
Up to NZ$10,000 + 200 free spins over 4 deposits
- Deposits from NZ$30
- Wagering 50x
- Licence: Curacao
Terms and operator
Published welcome terms: Up to NZ$10,000 + 200 free spins over 4 deposits, wagering 50x, minimum deposit NZ$30
Licence on file: Curacao
Operator: Stable Tech N.V. (Curacao)
Payments and games
Deposit methods: Visa, MasterCard, Maestro, Neosurf, Skrill, Neteller, Paysafecard, Bank Transfer
Game studios: Evolution Gaming, NetEnt, Games Global, Pragmatic Play, Play'n GO, Playtech, Yggdrasil Gaming, Quickspin
- 2
Cashed CasinoHas a sportsbook
100% up to NZ$1,000 + 200 free spins
- Deposits from NZ$20
- Wagering 35x cash / 40x spins
- Licence: Curacao
Terms and operator
Published welcome terms: 100% up to NZ$1,000 + 200 free spins, wagering 35x cash / 40x spins, minimum deposit NZ$20
Licence on file: Curacao
Payments and games
Deposit methods: Visa, MasterCard, Neosurf, Skrill, Skrill 1-Tap, Neteller, Paysafecard, Apple Pay
Game studios: Evolution Gaming, NetEnt, Microgaming, Pragmatic Play, Play'n GO, Playtech, Quickspin, Red Tiger Gaming
- 3
National Casino
100% up to NZ$500 + 100 free spins
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Terms and operator
Published welcome terms: 100% up to NZ$500 + 100 free spins, wagering 40x
Licence on file: Curacao
Operator: TechSolutions Group N.V.
Payments and games
Deposit methods: Visa, MasterCard, POLi, Neosurf, Skrill, Neteller, Paysafecard, Apple Pay
Game studios: Evolution Gaming, NetEnt, Microgaming, Games Global, Pragmatic Play, Play'n GO, Playtech, Yggdrasil Gaming
- 4
Joo Casino
Up to NZ$3,000 + 200 free spins over 3 deposits
- Deposits from NZ$30
- Wagering 50x
- Licence: Curacao
Terms and operator
Published welcome terms: Up to NZ$3,000 + 200 free spins over 3 deposits, wagering 50x, minimum deposit NZ$30
Licence on file: Curacao
Operator: Stable Tech N.V.
Payments and games
Deposit methods: Visa, MasterCard, Maestro, Neosurf, Skrill, Neteller, Paysafecard, Google Pay
Game studios: Evolution Gaming, NetEnt, Games Global, Pragmatic Play, Play'n GO, Playtech, Yggdrasil Gaming, Quickspin
- 5
Zotabet CasinoHas a sportsbook
100% up to NZ$2,000 + 300 free spins
- Licence: Tobique
- Online since 2022
Terms and operator
Published welcome terms: 100% up to NZ$2,000 + 300 free spins
Licence on file: Tobique
Payments and games
Deposit methods: Visa, MasterCard, Maestro, Neosurf, Skrill, Neteller, Paysafecard, Bank Transfer
Game studios: Evolution Gaming, NetEnt, Pragmatic Play, Playtech, Yggdrasil Gaming, Quickspin, Red Tiger Gaming, Big Time Gaming
- 6
GranawinHas a sportsbook
100% up to NZ$200 + 120 free spins
- Deposits from NZ$35
- Wagering 40x
- Online since 2024
Terms and operator
Published welcome terms: 100% up to NZ$200 + 120 free spins, wagering 40x, minimum deposit NZ$35
Operator: TechSolutions Group N.V.
Payments and games
Deposit methods: Visa, MasterCard, Skrill, Neteller, Paysafecard, Apple Pay, Google Pay, Bank Transfer
- 7
Casinoly CasinoHas a sportsbook
100% up to NZ$1,000 + 200 free spins
- Deposits from NZ$40
- Wagering 35x
- Licence: Curacao
Terms and operator
Published welcome terms: 100% up to NZ$1,000 + 200 free spins, wagering 35x, minimum deposit NZ$40
Licence on file: Curacao
Payments and games
Deposit methods: Visa, MasterCard, PayID, Neosurf, Skrill 1-Tap, Skrill, Neteller, Paysafecard
Game studios: Evolution Gaming, NetEnt, Microgaming, Games Global, Pragmatic Play, Play'n GO, Playtech, Yggdrasil Gaming
- 8
20bet CasinoHas a sportsbook
100% up to NZ$200 + 120 free spins
- Deposits from NZ$35
- Wagering 40x
- Licence: Curacao
Terms and operator
Published welcome terms: 100% up to NZ$200 + 120 free spins, wagering 40x, minimum deposit NZ$35
Licence on file: Curacao
Operator: TechSolutions Group N.V.
Payments and games
Deposit methods: Visa, MasterCard, Neosurf, Skrill, Neteller, Paysafecard, MuchBetter, Jeton
Game studios: Evolution Gaming, NetEnt, Games Global, Pragmatic Play, Play'n GO, Playtech, Yggdrasil Gaming, Quickspin
- 9
Betway Casino
100% up to NZ$500 on each of first 4 deposits
- Deposits from NZ$20
- Wagering 50x
- Licence: Malta Gaming Authority
Terms and operator
Published welcome terms: 100% up to NZ$500 on each of first 4 deposits, wagering 50x, minimum deposit NZ$20
Licence on file: Malta Gaming Authority
Payments and games
Deposit methods: Visa, Visa Electron, MasterCard, Maestro, POLi, Neosurf, Skrill, Skrill 1-Tap
Game studios: Evolution Gaming, NetEnt, Microgaming, Games Global, Pragmatic Play, Play'n GO, Big Time Gaming, Hacksaw Gaming
- 10
BitStarz Casino
Welcome package up to NZ$2,000 + 180 free spins
- Deposits from NZ$20
- Wagering 40x
- Licence: Curacao
Terms and operator
Published welcome terms: Welcome package up to NZ$2,000 + 180 free spins, wagering 40x, minimum deposit NZ$20
Licence on file: Curacao
Payments and games
Deposit methods: Visa, Visa Credit, MasterCard, Maestro, Neosurf, Skrill, Neteller, Paysafecard
Game studios: Evolution Gaming, NetEnt, Microgaming, Pragmatic Play, Play'n GO, Playtech, Yggdrasil Gaming, Quickspin
- 11
All Slots Casino
100% welcome package up to NZ$1,500
- Deposits from NZ$5
- Wagering 35x
- Licence: Kahnawake
Terms and operator
Published welcome terms: 100% welcome package up to NZ$1,500, wagering 35x, minimum deposit NZ$5
Licence on file: Kahnawake
Operator: Baytree Interactive Ltd (69691), Guernsey
Payments and games
Deposit methods: Visa, MasterCard, Maestro, Neosurf, Skrill, Skrill 1-Tap, Neteller, Paysafecard
Game studios: Evolution Gaming, NetEnt, Microgaming, Games Global, Pragmatic Play, Red Tiger Gaming, Big Time Gaming, ISoftBet
- 12
22bet CasinoHas a sportsbook
100% up to NZ$500
- Wagering 50x
- Licence: Curacao
- Online since 2017
Terms and operator
Published welcome terms: 100% up to NZ$500, wagering 50x
Licence on file: Curacao
Operator: TechSolutions Group N.V. / Marikit Holdings Ltd
Payments and games
Deposit methods: Visa, MasterCard, Maestro, Neosurf, Skrill, Skrill 1-Tap, Neteller, Paysafecard
Game studios: Evolution Gaming, NetEnt, Microgaming, Games Global, Pragmatic Play, Play'n GO, Quickspin, Red Tiger Gaming
For readers aged 18 and over. Every site here is licensed offshore; New Zealand’s own licences are not issued until 1 December 2026, so no operator can hold one yet. Bonus figures are the operators’ own and change without notice. Free, confidential help: gamblinghelpline.co.nz, 0800 654 655.
Decimal Odds and Implied Probability
The best sports betting brands should have a conversion button, but if not, decimal odds are quite easy to understand. With decimal odds you can easily calculate the implied probability as well as the amount you will be paid out. Without going into the math, the higher the number, the less likely the bet is to win. Any odds over 4.00 or 5.00 have a much lower probability of winning than odds of 2.10 or 1.80.
If you want to know the exact probability number, you can use the formula 1/(odds) x 100. If we have odds of 4.00 then the implied probability is 1 divided by 4 x 100, which equals 25%. So, in this case, the bet theoretically has a 25% chance of being a winner. If the online or mobile sports betting site offers very low odds of 1.90, then the implied probability is 1 divided by 1.9 x = 52.6. Here, we can see that the bet theoretically has a 52.6% chance of being a winner.
Calculating Payouts
If you are looking for the best football odds and you want to calculate exactly how much you are going to be paid out, decimal odds are the easiest to understand. In this case, simply multiply your stake by the odds displayed. Alternatively, you insert a dollar sign in front of the number itself. For example, odds of 5.40 will become $5.40. This means that for every $1 you bet, you will receive a payout of $5.40.
If you have are looking to place a $50 bet on odds of 3.50, then you can calculate your total payout by multiplying your stake by the odds: $50 x 3.5 which equals $175. If your bet is successful the sports betting site will pay you out a total of $175. This includes your original stake of $50, which means the profit from your bet is actually $125. With decimal odds, the higher the number, the more you stand to be paid out. However, if the number is higher, the implied probability is lower, meaning you have a much lower chance of being successful.
