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alvis limHow to Understand Sports Betting Odds: What Do They Mean?
When you are into sports betting, you need to have a clear idea on how betting odds operate. Without having a clear idea on betting odds, it will not be possible for you to get the most out of bets you place. This is where you need to keep in mind that there are different types of betting odds. Divided into three groups, they may be categorised as follows: American odds; decimal; and fractional. Besides sports betting odds, you need to learn more sports betting tips to win more bets as well. In this article, we are going to share more details about these sports betting odds with you. Based on the information we share; you may take an informed decision to get the most out of sports betting.
What are American odds in Sports Betting?
Even though we are sharing details about American odds at the top, you need to keep in mind that they are more complex when compared to decimal odds and fractional odds. The odds in the United States are calculated using a $100 bet. depending on your bet’s odds, however, this might change. Usually, the betting odds will start off from a negative value. Then you can get details on how often you will need to bet, so that you can secure $100.
For example, if the chances are -90, you will need to bet $90, so that you can end up with securing $100 at the end of the day. In case if the chances are 250, you will need to bet $250 in order to win $100. However, the bets you place shouldn’t be that large. You just need to make sure that the percentage is large enough to provide profitable returns to you. For example, with -250 odds, a $20 bet would provide $10 as a return along with the initial stake of $20.
You will notice how underdog bets are shown along with a positive sign. When you take a look at a $100 wager, the plus odds would clearly show how much more money that you will be able to make. For example, if you bet with $200 on +100 odds, you will be able to end up with earning $200, along with your initial stake of $200. When you understand the basics, American odds is easy figure out at the time of playing.
What are fractional odds in Sports Betting?
Fractional odds are quite popular in parts outside the United States. However, you can still find them in American sportsbooks. To understand fractional odds, you should have a clear idea on fractions. It is possible for you to see fractional odds as 7-5 and 3-2. In here, the profit will be calculated by multiplying your bet value from the respective fraction.
Let’s say you’re wagering $100 on a 3-2 fractional odds, for example. Then you will be able to end up with getting a profit of $300, but you will be giving back $200. Therefore, you will be able to end up with getting a return of $100 along with the initial bet of $100. The total return for you would be $200.
When it comes to fractional bets, the denominator of favorite bets would be higher when compared to the numerator. 2-5 and 1-2 are perfect examples for such bets. In here, the numerator of underdog bets would usually be high when compared to the denominator. Fractional odds are quite popular in sports booking. The easiest form of fractional odds to understand are the ones where you will find 1 as the denominator.
What are decimal odds in Sports Betting?
Decimal odds are the easiest form of odds that you can learn. These odds are quite popular in European sportsbooks. If you are into sports betting from Europe, you need to have a strong understanding of decimal odds.
The decimal odds of a particular match will be shown as follows:
- New York Yankees -> Odds 1.50 Favorite
- Toronto Blue Jays -> Odds 2.20 Underdog
Based on these numbers, you can easily figure out your potential winnings ahead of time. You just need to take the betting amount and multiply that by the odds linked with the team that you are betting on. For example, if you are betting $100 on the New York Yankees, your potential winnings would be $150. Likewise, if you bet on the Toronto Blue Jays, your winnings will be $220.
Due to the easiness in understanding, we strongly recommend beginners to sports betting to consider decimal odds. Then you can make sure that you will not go wrong with calculations.
What is a push?
As a result, you now have a rudimentary understanding of how sports betting odds work. Consider this while also determining what a push is all about. Push is not something related to the odds. However, it can still create a direct impact on the earnings that you can secure at the end of the day.
A push is nothing but a tie. It is not possible for you to see a push within the money-line when you are placing bets. Therefore, it is important to understand what the outcome would be if the sporting event ends up with a tie. Usually this is applicable only if you are betting against the total bets or the spread.
During a push, you will be able to simply get back your money. That’s because the situation is called neither as a loss or a win. A point spread will add half points to each number, so that a push would not happen. However, you cannot completely ignore it, and you will still need to be mindful about the occurrence of a push.
Final words
If you want to get into sports betting, you should have a clear idea on all different types of odds. Then you will be able to figure out the possibilities that you have to win and the amount that you can secure by winning the sporting event. This will assist you in making well-informed wagers on sporting events.
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