There are several things that need to be mastered to become a good player. In fact, the list is quite long as sports betting is a serious activity, but some points are really crucial.
Perhaps the most important of these is to find out what the bookmaker odds mean and what the different types of odds are.
First, it is important to understand what the odds are and what role they play in the betting process. That is why we will begin this article by defining this concept. Generally speaking, the odds reflect the likelihood or chance of one thing happening. If you look at the odds in terms of gambling, the odds are a certain ratio between the amount of money you will bet and the amount of money you will win if your bet is successful.
When you are wondering whether to place a bet on the outcome of a match or other sporting event, odds are one of the main factors to consider. The importance of odds should therefore not be underestimated; and if you have any problems reading them, you should immediately correct that omission.
Are the bookmaker’s odds equal to the real probabilities?
The simple answer to this question is no. If you and your friend decide to bet $ 10 each on the winner of a basketball game tonight that you thought the two teams had absolutely equal chances of success, one of you would win $ 20 and the other would stay with empty hands. That is, you both bet at odds of 2.00, expressed in decimal format. However, if you log into any online bookmaker (for example, Sportingbet), you will see odds for both teams around 1.85-1.90.
The difference goes to the bookmaker's profit. Even Bet365, which boasts the best odds on the market, has some commission and will not offer you a 2.00 odd on one exit with 50 percent probability.
Also, sometimes (though rarely) bookmakers make mistakes in setting odds and may bet higher on the team or the player with the better chance of winning.
So you have to remember that, from a betting standpoint, the odds only mean one thing - the ratio between the sum of the bet and the potential profit.
What do decimal odds mean?
Unlike us, many other countries are used to using the decimal format of the odds. The decimal format is currently the most used in the world, especially in Europe. The format is also used in Canada and Australia.
The mass of decimal odds is not accidental - most players note that this format is the most readable of all. All calculations are very easy with decimal odds because they show how much money you will earn from a single unit of bet. To find out how much you might win, you just have to multiply the odds by the amount of your bet.
Here is an example that will illustrate the use of decimal odds. Let's imagine the odds are 3.50 and you bet $ 10. If you win, you will get $ 35 (3.5 X $ 10).
Please note that this bet is included in the $ 35 bet placed. That is, $ 25 of that amount is your net profit, and $ 10 is your bet.
What do fractional odds mean?
While all the bookies on our site allow you to choose the format in which the odds are displayed, we will also tell you about the other odd formats, as you may sometimes find yourself in a place where there is only one type of odd offered. And maybe one of these formats might seem more convenient or curious, though, as we said, the decimal format is the easiest to calculate.
We start with the favorite of the British - fractional odd. This is the oldest form of odd known since the Middle Ages. Its main difference with the decimal odds is that it shows only the net profit, with no bet. Of course, the other major difference is that the rate is represented in fractions.
Simply put, the first number in the odd shows how much your net profit would be if you bet the second number. For example, if you have a 4/1 odds and you bet $ 1, you will win $ 4. That is, your account will be credited with $ 5, of which $ 1 is your bet.
When you see the second number greater than the first, you proceed in the same way. For example, a 2/7 odds means that if you bet $ 7, you will have $ 2 in net profit.
It is accepted to put the word "to" between the two numbers when pronouncing these odds. That is, 2/7 is pronounced "two to seven".
What do US odds mean?
US odds, as their name implies, enjoy the greatest popularity and are most common across the Atlantic. In America, these odds are also called "money line".
You will notice that the US odds have a plus or minus sign before the number. If the odds are preceded by a plus, the number indicates how much you would win with $ 100 bet (not counting the bet). The so-called. negative odds show how much you need to bet to get $ 100.
For example, if Borussia Dortmund's chances of winning the Bundesliga are estimated at 11.00 (or 10/1 in fractional odds), the US odd would be +1000. And if Bayern Dortmund receive a 1.32 odds for the same, the number can be converted to -320 US odd.
Other types of odds
In some places around the world (and Asia in particular) you can find bookmakers who do not offer any of the above types of odds but rely solely on the local betting method. It is debatable how safe it is to bet in such a bookmaker's house, but if you are tempted by the high odds there, or just want to enrich your overall knowledge, you need to learn about the other types of odds.
Malaysian odds
Malaysian odds show the relationship between your bet and your potential earnings for a particular bet. Malaysian odds are represented in a decimal number, but do not confuse them with decimal odds! If the odds are 0.00, then this is a bet equal to 2.00 odds in the European bookies. Like the US moneyline, Malaysian odds have a plus or minus sign. If you see a plus sign, you must multiply your bet by the odd. If there is a minus sign, you must multiply your stake by 1 / odd.
Hong Kong odds
These odds are very similar to the decimal ones, with the only difference being that they do not include the bet. For example, if the odds were 2.50 in Europe, in Hong Kong it would be 1.50.
One of the best odds in our country is offered by bet365. In addition to multiple markets, the bookmaker also provides a solid bet365 new customer bonus as well as multiple possible winnings - see what all bet365 bonuses are for 2020. UK customers can bet at any time via bet365 mobile.
