Betting odds explained
There are certain things a good punter has to master. Actually, some points are just of crucial importance. Probably the most essential of them is to understand the odds; you simply shouldn’t be in the dark when it comes to reading odds, because if you are hoping for success, you should be a specialist in them.
First of all, the odds are the likelihood or chances of something happening. If we specify this definition to the gambling field of activity, the odds are a certain ratio between the amounts of money staked by individuals to a bet.
When punters think about placing a bet on the outcome of a match or game, the odds are one of the primary factors that should be taken into consideration and the best betting software offers the best ones.
Nowadays, various online sportsbooks give people the opportunity to wager on almost any sporting or even non-sporting event; however different bookmakers use different odds formats. That’s why there are now lots of various odds formats, used by the bettors in different regions. For example, Europeans prefer decimals, Americans exclusively use US moneyline, Englishmen tend to use fractions, and Asians prefer to stick to Malay and Hong Kong odds formats. Let’s see each one:
Decimal odds: decimals are favored mainly by Europeans. It’s also used in Canada and Australia. Most punters note that this is the most comprehensible and it’s considered to be the most popular. It’s very easy to operate with decimal odds, because they indicate how much money you’ll get from a one unit-stake. So, you simply have to multiply the odds by the amount of your stake. Let’s imagine that the odds are 3.5 and you bet $100. If you win, you’ll gain $350.
American Odds: This format is used mainly in the USA. It is also known as “Moneyline Odds”. They work quite differently for underdogs and favorites. So, if you bet on a favorite at an Asian bookmaker, these odds show how much money you will have to risk in order to gain $100. It means that if the odds are -210, your stake should be no less than $210; on the other hand, if the odds are +150, it means that you’ll have to bet $100 in order to get $150.
Fractional Odds: they are favored in Great Britain. This type of odds was first introduced for horse racing and it gained popularity in all the other sporting disciplines. Fractional odds are also known as UK Odds, British Odds or Traditional Odds. Basically, they tell the bettor how much profit he will gain from a one-unit stake. So, if the odds offered are 3/1, it means that such odds will pay out three times the betting amount he placed.
Malaysian Odds: they display the relationship between your stake and your potential winnings on a particular bet. Malaysian Odds are also expressed in decimals. If the odds are “0”, then it is an exact 50/50 bet which will eventually payout 1/1. Just as in US moneyline, the Malaysian Odds are either indicated with a – sign, or a + sign. If the odds are displayed with a plus, you just need to multiply your stake by your odds to calculate the winnings. If the odds have a minus sign, then you need to multiply your stake by 1/odds in order to calculate how much you gain.
Hong Kong odds: are considered to be quite easy to follow. They express the relationship between the original stake and your potential winnings. Hong Kong odds are very similar to decimals with the only exception that they don’t include the stake. If you would like to learn what your winnings are, you just need to multiply the Hong Kong odds by your stake.
These are the most common odds used all over the world. It is advisable to know how to read all of them, but if you don’t want to bother, there are lots of online odds converters you can use instead.
This post is also available in: Romanian