Simple And Quick Guide To Understanding Online Sports Betting Odds

Understanding betting odds is a must for any online sports betting enthusiast. This knowledge is essential. This is an essential requirement that must be met.

To know how betting odds and most importantly, betting formats work, guides you on your possible gains or profits. As you perform your team analysis, a better understanding of betting odds will help come up with a better decision. In this manner, you are no longer required to depend heavily on luck.

Different odds format

Different kind of odds format exist. The formats utilized in bookies vary. It depends on the area or region where you are betting. Some formats are more popular than the other. While there are some bookmakers that offer odds conversion tools, not all providers of sportsbooks have them. Manual conversion is not an option, as it will waste your time and effort.

For your reference, here are the odds formats you need to know.

Decimal odds

This odds format is written in decimal format, as the name suggests. This format is preferred by bettors from Australia, Canada, and Europe as it makes it easy to calculate their potential winnings.

It follows the formula: stake x odd = payout

If you bet $500 on a 2.50 chance, your payout will come out to $1250.

Fractional odds

Considered as one of the oldest betting formats, this is widely used in the United Kingdom and Ireland. It is also used in horseracing and apparently, it follows a fractional format.  https://markcollie.net/pick-4-corner-boxes/ This is also known as traditional odds. They also show you the total payout that you will get, relative to your stake. So, for example if you see a 2/1 traditional odd, this means that you will get a $400 profit if you place a $200 worth of bet.

American odds

American odds, also known as moneyline, is a very popular form of betting in the United States. Favorites are marked with a negative (+) sign. The higher the number value is, the higher the chance of winning. Therefore, a -300 is more likely to win than a -200.

The positive (+) sign is used when it comes to underdogs. A lower value means that you are less likely to win. So between a +200 and a +300, it is the former (+200) which shows higher winning possibility.

It uses a $100 baseline, which means that you have to risk $300 in order to win $100 in a bookie.

For a +200, you can only lose $100 but win $200.

Hong Kong Odds, Malay Odds, Indonesian Odds

The odds of Hong Kong are very similar to UK ones, but they are displayed in decimals.

Indonesian odds are also expressed in positive or negative just like American odds. However, its baseline value is 1.

Malay odds will be the exact opposite of American and Indonesian odds.

It may take some time before you get the hang of using odds format. But mastering them will definitely make you a wiser and better punter.