The type of betting odds does not depend on the sporting event you’re betting on. The odds format used depends on where you are in the world. For example, sports betting sites from Europe may use odds formats different from those used by sportsbooks in America. Let’s delve into how these betting odds work and calculate your potential winnings using the different formats. 1. Fractional Odds
Sports betting odds are created by bookmakers to show what the outcome of a game or event is likely to be. They also dictate how much profit a player can make when betting on an event at that sportsbook. They're often heavily influenced by Vegas odds, football in particular.
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The most common ways to present betting odds are: Decimal odds (2.5) American odds (+150) Fractional odds (3/2) Hong Kong or Malay odds (1.500) Worth noting is that 2.5, +150, 3/2, and 1.500 all represent the exact same payouts for a winning bet despite looking very different. Here’s how each one of these systems work and how to easily ...
Before doing any sports betting, you must first understand the important key "odds" of sports betting. In any large sports betting venues, such as Bet365, Betway sports, ThisWin, 4rabet, 22Bet, 10Cric, etc., they provide their own sports odds. Even ThisWin offers exchange bets, allowing players to place matching bets. Read down to understand what odds are and how they work.
Decimal Style Sports Betting Odds. Decimal style odds are used mostly in Europe, and are pretty easy to understand. To calculate the decimal style odds all you will need to do is simply multiply the amount you wish to wager by the decimal odds shown and you will get your payout. For example it may look something like this:
Odds can tell you which bets are worth taking. You can use the odds to calculate the implied probability of a specific outcome in a sporting event. Betting odds also reveal how much a sportsbook is charging to take your sports wager. This cut or commission is referred to as the juice or vigorish (vig).
using the following simple formula: Stake x Decimal Odds = Total Payout. Another way of thinking about these numbers is that they represent how much a winning ticket will be worth if you bet $1. In order to spot the underdog and favorite, just keep in mind that. the lower the number, the more favored.
Total Payout = [Stake x (Numerator/Denominator)] + Stake. Where: numerator/denominator is the fractional odd (e.g., 28/6) For instance, one of the major sports betting websites listed the ...