Usually, the casino and other games are played for fun and entertainment but the sports betting are always a serious business especially for the gamblers. In order to be a successful better in sports, it’s important for you to understand and interpret odds.
What are odds?
Odds are nothing but the chance or likelihood of winning or something to happen. When you consider it in sports, it’s the probability of a team to win the game. Odds not only provide a prediction for the game but it even predicts the payout for betting persons. Usually, $100 would be used for odds on bets. This is because a standard value for betting would make it easy for you to make odds.
The following are the most common odds formats you must know if you want to play here:
- Plus and minus: most of the bookmakers use either plus or minus in order to communicate odds. It shows us the amount that we won based on $100 bet. For example, if you have done a betting on a game and team has +150 odds then you would get $150 for each betting of $ 100 and if its -150 odds then you should bet $150 in order to get $100.
- Fractional odds: this is the fractional form of odds. If you are watching a game and a competitor has been given 9/1 odds then that can be looked at from two different ways.
- 9/1- can be used to calculate the probability with formula 1/(9+1)=0.10 which says that there is a 10% chance for the event to happen.
- 9/1-can also be used to determine payouts. 9/1 can be taken as for every bet of $1 which you make you would win $9, 1/9 means that you would win $1 for betting of $9 which you made.
- Decimal odds: odds can also be communicated in decimals form. If a person has 9.0 odds of winning then you can calculate the amount you can win with successful betting odds through (9.0*$10stake)-$10.
What can be done when odds are not in your favor?
If you are new to betting and want to play here then you should never think it would be risky to bet on an underdog until and unless the bet holds the value. It’s always better to compare the bookmaker’s prediction probabilities with your own and analyze which bet would hold more value and bet accordingly. It’s always better to have more information on betting’s so that you would increase your chance of winning.
