A Quick Guide to Sports Betting Odds
Understanding how odds work is one of the most important steps in learning how to bet on sports. If betting had a language, the odds are the first words every bettor should learn. We know dealing with numbers isn’t everyone’s cup of tea, but once you get the hang of it, everything follows smoothly.
So if you’re a new gambler and the figures still look like a puzzle to you, this sports betting guide is a good place to start.
Sports Odds Explained
In simple terms, odds simply represent how the bookmakers see the standings. Bookies provide the place for sports gamblers to place their bets, but apart from that, they also give insights on what is likely to happen in a sports match.
These insights come in the form of odds.
Odds are numerical values that represent the likeliness of a team winning (or losing) a certain game. They are also the key indicators of how much you can win from betting on a particular matchup, or how much you need to stake for you to win your bet.
Types of Betting Odds
Fractional, Decimal, and Moneyline Odds are the fundamentals of how to bet on sports. They also happen to be the three betting odds formats used by most sportsbooks all over the world. Location-wse, they are also referred to as British, European, and American Odds respectively.
Fractional Odds are usually interpreted using a slash (/), 5/1, for example. This means that for every $1 you bet, you win $5 on top of your initial bet.
Decimal Odds work pretty similar, but it’s easier to work with as the initial stake is already included in the given figure. And as the name suggests, the number comes in decimal form.
American Odds are a bit different, as it uses a positive (+) and a negative (-) symbol to represent underdogs and favorites respectively. Numbers with a positive sign represent the amount you need to bet to win $100, while those with a negative sign indicate the amount you can win for every $100 you bet.
Read: Major Betting Lines
Mastering how to bet on sports is fairly easy once you’ve acquainted yourself with its very basics, which typically starts with the odds. The only thing standing between you and winning you bet is how well you’ve made a decision based on the odds. Now that you’ve got this covered, everything else will be easier to learn.
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