Sunday, October 25, 2020

How Sports Betting Odds Work

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Jay Rock
Jay Rockhttp://mmaindia.com
MMA, Boxing, NBA, Cricket, Betting
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Sports betting in today’s world has diversified into so many branches. Earlier, people only associated it with casino games. With time, sports betting has become part of almost every game that is popular and unpredictable. Betting gambling has opened up the whole prospects of betting to a huge extent. With sites like Sbobet you can place bets for practically every game like cricket, football, tennis, etc. But before you dive into it, we really recommend checking Livescore on Buaksib.

Betting

Sports betting is also commonly associated with games like horse racing. There are many online sites where you can place bets for a live game. Every site shows betting odds to explain the situation of the game in the gambling language. Different sites show the odds differently. There are three basic ways to show betting odds. Correctly reading them can help you win bets. The three methods of showing betting odds are:

  • American Odds
  • Fractional/UK Odds
  • Decimal/European Odds

1. American Odds

American Odds is a way to show the betting odds that are popular in the US. It shows the odds in the form of +160 or -340, etc. Every match of any sport has two sides. For every game, there is a favourite and an underdog. The odds are read differently for favourite and underdog. If you bet your money on the preferences, the number shows how much money you have to bet to win Rs. 100. However, if you bet on the underdogs, it shows how much money you can earn if you place a bet of Rs. 100.

2. Fractional/UK Odds

Fractional Odds are the traditional method of showing odds. It is traditionally used for games like horse racing. They are shown in the form of 1/5, 2/3, etc. It shows how much rupees you earn for every rupee you risk while betting. Suppose in a game between Leicester City and Liverpool, the odds of Leicester are 5/1 and Liverpool is 1/5. It means you will earn five rupees for every one rupee you bet on Leicester in case Leicester wins the match.

On the other hand, suppose you bet on Liverpool, and they win the game. Then you win 1 rupee for every 5 rupees. It is similar to the concept of Favourites and Underdogs. Liverpool is the favourites to win, and so there is not much risk in betting on Liverpool. However, Leicester is the underdog here. Betting on them is high risk and winning high chances means high returns.

3. Decimal/European Odds

Decimal Odds are the easiest method of displaying odds. They are very popular in European countries. If you go to any online betting site, you will notice that almost all websites offer decimal odds to display the odds. It is because the other two methods can confuse you, but you will never go wrong with this method. In Decimal Odds, the exact figure is shown which you will receive when you checkout. There is no unnecessary confusion in this method.

Conclusion

There are three methods of reading odds. You might think that all three ways are very different and show different information. However, in the end, all three methods try to show the same information on the odds. E.g. +200 (American), 1/2 (UK), and 3.00 (European) mostly show the same information that you have a 33.33% chance of winning the bet.

ALSO READ:

https://www.mmaindia.com/floyd-mayweather-earned-%e2%82%b93-5-crore-for-every-punch-he-landed/

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