Simple And Quick Guide To Understanding Online Sports Betting Odds
Understanding betting odds is a must for any online sports betting enthusiast. Gaining such knowledge is not an option. It is an important requirement that should be observed.
You can learn how betting odds work and, most importantly, what betting formats work. This will help you to determine your potential profits or losses. A better understanding of betting odds can help you make a better decision when you do your team analysis. This will allow you to make better decisions and not rely on luck.
Different odds format
There are many types of odds formats. The formats utilized in bookies vary. It depends on the area or region where you are betting. There are different formats that are more popular than others. Although there are bookmakers, which provide odds converting tools, not all sportsbook providers have them. http://reichstadt.info/online-poker-is-it-for-everyone/ Resorting into manual conversion does not help that much as this will only consume your effort and time.
Thus, for reference's sake, here are the different odds formats that you must understand.
Decimal odds
As the name implies, this odds is written in a decimal format. Bettors from Europe, Canada and Australia favor this format since it gives them an easy time to computer their possible winnings.
It follows the formula: stake x odd = payout
Therefore, if you place a $500 on a 2.50 odds, your payout will be $1250.
Fractional odds
Considered as one of the oldest betting formats, this is widely used in the United Kingdom and Ireland. It is also used in horseracing and apparently, it follows a fractional format. This is also called as traditional odds. These odds also give you an indication of the payout you will receive based on your stake. So, for example if you see a 2/1 traditional odd, this means that you will get a $400 profit if you place a $200 worth of bet.
American odds
American odds, also known as moneyline, is a very popular form of betting in the United States. http://ugg-boots--uk.co.uk/how-to-learn-about-money-lines-betting/ For favorites, a negative (-) sign is attached to the number. Higher numbers have a higher chance of winning. Therefore, a -300 is more likely to win than a -200.
The positive (+) sign is used when it comes to underdogs. A lower value means that you are less likely to win. So between a +200 and a +300, it is the former (+200) which shows higher winning possibility.
Since it uses a $100 baseline value, this means that in a -300 favorite, you must risk $300 to win $100 in a bookie.
For a +200, you can only lose $100 but win $200.
Hong Kong Odds, Malay Odds, Indonesian Odds
The odds of Hong Kong are very similar to UK ones, but they are displayed in decimals.
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Malay odds will be the exact opposite of American and Indonesian odds.
It may take some time before you get the hang of using odds format. But mastering them will definitely make you a wiser and better punter.