(Also known as British or Traditional )
Used mainly in the UK and in horse racing. Becoming less popular.
If you win your stakes, tell you that the amount of profit proportional to your bet.
For example, if you bet #10 at chances of 3/1, you get profit if you win.
(Also known as European)
Common across the world but especially in Europe. On betting exchanges like Betfair standard.
Convey the total amount you will receive if you win, including the yield of your bet.
As an instance, if you gamble #10 at odds of 3.75, you may receive #37.50 in total if you win.
(Also known as American)
Used by US bookmakers.
Based on a straight single bet (on a single outcome, with no points spread)
The amount quoted is the amount you would win on a $100 wager In case the moneyline is positive.
If it is negative, the amount quoted is that which you would have to bet to win $100.