A Beginner’s Guide to Online Sports Betting Odds

Online Sports Betting Odds

Sports betting is accessible at a huge number of web sportsbooks in 2019. You can bet on a huge number of markets, if games occurring anyplace on the world, which is fabulous, yet an impediment is that chances on certain sites might be exhibited in an format that you’re not familiar with,

To completely see how to make steady benefit from the bookies, it makes sense to fully understand what all of the numbers actually mean when you log on to Jeetwin.

Betting Odds represent the probability of an event to happen and along these lines empower you to work out how a lot of cash you will win if your wager wins

There are three different ways in which sports wagering odds can be displayed:

  • American/Money line Odds (e.g. +200)
  • Fractional/UK Odds (e.g. 3/1)
  • Decimal/European Odds (e.g. 2.44)

American Odds:

American odds are also knowns as “money line odds”. Favorites come with a – symbol attached. The higher the absolute value of the number, the better the chance the bet will win.

Underdogs come with a + symbol attached. The higher the number, the larger the underdog.

For Example:

Let’s take a look at a matchup between Nadal and Federer; assume an odds maker set the odds like this:

Nadal -145

Federer +110

The first thing to note is the “+” and the “-” before the number for each market.

Underdog represent the “+” symbol. That is, it has a lower chance of winning the matchup.

Favorite represent the “-” symbol. That is, it has a higher chance of winning the matchup.

In this example, Federer is the underdog, and Nadal is the favourite – pretty straightforward, right?

The numbers after those symbols are used as an indicator of how likely the teams are perceived to be to win or lose.

For favorites, the number is the amount you would need to risk in order to win 100. In the case of Nadal, you would need to risk 145 to make a profit of 100. If Nadal wins, your 145 is returned to you, plus your 100 profit. But if Nadal loses, then you lose the 145 you risked. Easy enough.

For underdogs, the number is the amount you would win but you risked 100. If you risked 100 on Federer then you would win 110 if he won the matchup, and of course you would get your initial 100 returned on top of that. Even easier!

Fractional Odds:

Fractional odds are also known as British odds, UK odds and Traditional Odds. It is very popular in the UK and are often used in Horse Racing.

Fractional odds read as (how much you win) / (how much you bet)

For Example:

Let’s take a look at a matchup between Nadal and Federer; assume an odds maker set the odds like this:

Nadal – 4/6

Federer – 6/5

The Easiest way to read is

The Amount You Win / The Amount You Bet

So how would you make sense of the payout using fractional odds? To perceive the amount you are set to win with fractional odds simply multiply the stake by the fraction. Utilizing the example above, if we were to bet 100 on Djokovic we would see that we win 120, add back in your stake and you get a total payout of 220.

Decimal Odds:

Decimal odds are also known as European odds and is very popular in Europe, Australia and Canada. The Decimal Odds are simple to understand making them as a favorite across the world for bookmakers and bettors. Decimal odds are read by simply multiplying the odds by the stakes.

For Example:

Let’s take a look at a matchup between Nadal and Federer; assume an odds maker set the odds like this:

Nadal – 1.56

Federer – 2.25

Using Decimal odds, the favorite team are with the lower of the two number and underdogs is the team with the higher of the number. Pretty straightforward!

If you risk 100 on Nadal at odds of 1.56, you simply multiply the amount you risked 100 by odds 1.56 i.e. 156, which included you risked 100 and leaving 56 as a profit

With Federer, risking the same amount 100 means odds of 2.25 (100*2.25) i.e. 225, which included you risked 100 and leaving 125 as a profit.

To comprehend the connection between the three types of odds, the below table gives the calculation:

Fractional to Decimal American to Decimal Fractional to American
Divide the left-side of the fraction by right-side, then add 1. (L / R) + 1 If odds are positive, divide by 100 and add 1. (+ML / 100) + 1 Divide the big number by small number, then multiply by 100 or -100 depending on which side of the bracket the big number is on. (B / S) x 100 or (S / B) x -100
For odds 5/1, divide 5 by 1 then add 1. (5 / 1) + 1 = 6 For +230 odds, divide by 100 then add 1. (230 / 100) + 1 = 3.3 For odds 3/1, divide 3 by 1 then multiply by 100. (3 / 1) x 100 = +300
For odds 1/5, divide 1 by 5 then add 1. (1 / 5) + 1 = 1.2 If odds are negative, divide 100 by the Money line amount (taking off the minus) and add 1. (100 / ML) +1 For odds 1/3, divide 3 by 1 then multiply by -100. (3 / 1) x -100 = -300
  For odds -280, divide 100 by 280 then add 1. (100 / 280) + 1 = 1.36  

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