KEY TAKEAWAYS
Hong Kong, Malay and Indonesian odds are the three Asian odds formats that some sportsbooks and odds tools offer next to decimal odds. They describe the same price in different notation. Hong Kong odds show only the profit earned for each 1 unit staked, so a price of 0.80 means a winning $100 stake returns $80 in profit. Malay and Indonesian odds use positive and negative signs, but each one applies its signs in its own way, which is the main source of confusion.
All three formats carry exactly the same information as a decimal price, and each one converts to and from decimal with a simple formula. The practical skill is knowing which number you are looking at, whether it is profit or total payout, and what win probability the price implies. That matters because the same-looking number, such as 1.50, can mean a favorite in one format and an underdog in another.
This guide defines each format, gives the conversion formulas, shows one match priced four ways with checked payouts and probabilities, and lists the mistakes that cause misread prices. All odds in the examples are hypothetical, not current sportsbook lines.
What the Asian Odds Formats Show
Hong Kong odds show net profit per 1 unit staked, and the stake itself is not included in the number. A Hong Kong price of 0.40 means a winning $100 bet earns $40 in profit and returns $140 in total. Because the stake is excluded, Hong Kong odds are always the decimal price minus 1, and they are never negative. A value below 1.00 marks a favorite, a value of exactly 1.00 is even money, and a value above 1.00 marks an underdog.
Malay odds also measure profit per unit, but they are capped between -1.00 and +1.00. A positive Malay number is profit per 1 unit staked, exactly like a Hong Kong price, and it is used for prices where Hong Kong odds are 1.00 or lower. A negative Malay number flips the question: it states the stake you must risk to win 1 unit of profit, shown with a minus sign. So Malay -0.50 means risking 0.50 to win 1.00.
Indonesian odds work as the mirror image. Indonesian odds never fall between -1.00 and +1.00. A positive value of 1.00 or more is profit per unit staked, the same as the Hong Kong price. A negative value of -1.00 or lower is the stake required to win 1 unit. This is why Indonesian odds look like American odds divided by 100: Indonesian -2.50 corresponds to American -250, and Indonesian +2.00 corresponds to American +200.
Notice that the sign does not mean the same thing in each format. In Indonesian odds a negative number marks a favorite, while in Malay odds a negative number marks an underdog, because the Malay scale reserves its positive side for short prices. Treat the sign as part of the format, never as a universal clue. You can compare this approach with fractional odds, which also display profit relative to stake.
How Asian Odds Convert Through Decimal
The simplest route is to convert everything through decimal odds. Decimal odds include the stake, so decimal = Hong Kong + 1, and Hong Kong = decimal − 1. From the Hong Kong value you can reach Malay and Indonesian with a short rule each. The same rules also work in reverse, which lets you turn any Asian price back into a standard decimal price. For a broader view of switching formats, see this guide on how to convert betting odds.
From decimal or Hong Kong to Malay and Indonesian
Start with HK = decimal − 1. For Malay odds: if HK is 1.00 or lower, Malay = HK; if HK is above 1.00, Malay = −1 ÷ HK. For Indonesian odds: if HK is 1.00 or higher, Indonesian = HK; if HK is below 1.00, Indonesian = −1 ÷ HK. At HK exactly 1.00 both formats show +1.00, which is even money.
From Malay or Indonesian back to decimal
Going backward, a positive Malay value equals HK directly, and a negative Malay value m gives HK = −1 ÷ m. An Indonesian value of +1.00 or more equals HK, and an Indonesian value i of −1.00 or lower gives HK = −1 ÷ i. Then decimal = HK + 1. For example, Malay −0.50 gives HK = −1 ÷ (−0.50) = 2.00, so the decimal price is 3.00. Indonesian −2.50 gives HK = 0.40, so the decimal price is 1.40.
Payout and profit
For a winning bet, profit = stake × HK and payout = stake + profit. With a negative Malay or Indonesian value x, profit = stake ÷ |x|, because the number is the stake needed to win 1 unit. Payout and profit are never the same figure: payout always includes the returned stake, while profit does not. A $250 stake at HK 0.80 earns $200 in profit and pays out $450, matching decimal 1.80 × $250.
Worked Example: One Match in Four Formats
Suppose a sportsbook lists a two-outcome match with hypothetical decimal prices of 1.40 for Team A and 3.00 for Team B. The same two prices can be written four ways, and the table below shows each one, along with the American price and implied probability for reference. The table is a reading aid, and the paragraphs after it explain what each row means.
| Outcome | Decimal | Hong Kong | Malay | Indonesian | American | Implied probability |
|---|---|---|---|---|---|---|
| Team A (favorite) | 1.40 | 0.40 | +0.40 | -2.50 | -250 | 71.43% |
| Team B (underdog) | 3.00 | 2.00 | -0.50 | +2.00 | +200 | 33.33% |
Take a $100 stake on Team A. At Hong Kong 0.40 the profit is $40 and the payout is $140. Malay +0.40 gives the same result because it is profit per unit. Indonesian -2.50 means a stake of 2.50 is needed to win 1.00, so $100 ÷ 2.50 = $40 in profit, again a $140 payout. All three formats describe an identical bet.
Now take a $100 stake on Team B. At Hong Kong 2.00 the profit is $200 and the payout is $300. Malay -0.50 says risking 0.50 wins 1.00, so $100 ÷ 0.50 = $200 in profit. Indonesian +2.00 gives $200 directly. The two implied probabilities add up to 104.76%, because 71.43% + 33.33% = 104.76%. The 4.76% above 100% is the sportsbook’s built-in margin on this hypothetical market.
Reading Each Format and Its Implied Probability
Implied probability is the win chance a price needs in order to break even, before margin and other variables. In decimal terms it equals 1 ÷ decimal odds, and for Hong Kong odds it equals 1 ÷ (HK + 1). Team A at HK 0.40 gives 1 ÷ 1.40 = 71.43%. Team B at HK 2.00 gives 1 ÷ 3.00 = 33.33%. A bettor needs to win more often than that percentage over many equal-priced wagers just to overcome the price. For the underlying idea, read about implied probability in sports betting.
For Malay and Indonesian odds, a positive value x gives probability 1 ÷ (x + 1), while a negative value x gives |x| ÷ (|x| + 1). Malay -0.50 gives 0.50 ÷ 1.50 = 33.33%, which matches Team B. Indonesian -2.50 gives 2.50 ÷ 3.50 = 71.43%, which matches Team A. Both routes land on the same percentages as the decimal formula, which is a quick way to check your conversion.
A fast reading rule helps when scanning a list of prices. A lower Hong Kong value means a shorter price and a higher implied probability. In Malay odds, a positive number is a favorite and a negative number is an underdog, and negative values closer to zero are longer shots. In Indonesian odds, a negative number is a favorite and a positive number is an underdog. Implied probability describes what the market price requires, not what will happen, so a 71.43% price still loses roughly 3 times in 10 on average.
Common Mistakes With Asian Odds
The most frequent error is reading Hong Kong odds as decimal odds. A Hong Kong price of 1.50 corresponds to a decimal price of 2.50. Treating it as decimal gives an implied probability of 1 ÷ 1.50 = 66.67% instead of the correct 1 ÷ 2.50 = 40.00%, and it suggests a $100 stake returns $150 when the real payout is $250. The error runs both ways, so always check whether a number includes the stake.
The second mistake is carrying the American sign meaning into Malay odds. In American and Indonesian odds a minus sign marks a favorite, but Malay -0.50 is an underdog priced at decimal 3.00 with a 33.33% implied probability. Assuming otherwise reverses the risk picture of the whole bet.
A third mistake is rounding a converted price too early. Malay -0.6667 and Malay -0.67 look similar, yet on a $100 stake the first returns about $150 in profit and the second returns $149.25. Keep extra decimals during conversion and round only the final figure. Finally, never treat a low Hong Kong value as certainty: a short price lowers the payout, but it does not remove variance or the chance of losing the stake.
Where These Formats Appear in Practice
Many sportsbooks let customers switch the odds display in their account settings, and a format selector is the usual place where Hong Kong, Malay and Indonesian options appear next to American, decimal and fractional. Changing the display changes only the notation, never the underlying price, the payout or the margin. If your account is set to a format you rarely read, convert one price to decimal first so the rest of the board makes sense.
Odds comparison tools and converters also list these formats. When you copy a number from one source into another, confirm the format label before doing any math, because an unlabeled 0.80 could be Hong Kong or Malay and 2.00 could be decimal, Hong Kong or Indonesian, each with a different meaning. Settlement rules, limits and void conditions are set by the sportsbook for the market, not by the odds format. Staking money you cannot afford to lose is never justified by an attractive price, and any betting should stay within a budget set in advance.
Related Concepts and Next Steps
If the signed formats still feel unfamiliar, start from the one you know best. The guide on how to read American odds pairs naturally with Indonesian odds, since they differ only by a factor of 100. To decide which display suits you, compare the formats in American vs. decimal odds. Then practice converting prices both ways until the Hong Kong minus 1 rule feels automatic, and check each result against implied probability.
Frequently Asked Questions
