Novice bettors surely find it hard to understand the numbers associated with odds in online sports betting. Understanding how odds work can be confusing and may take several trials to be mastered even for those who have just started betting. Reading and understanding how odds work is one of the key importance to monitor success in sports betting. It will also let a bettor know if he is getting profitable or just enjoying every gameplay without any favorable returns. In this article, bettors will learn the basic of reading the odds along with understanding the different type of it. There are still few confusions at the end, at least, bettors have got the appropriate information, which can be utilized firsthand. Experience and practice is still teacher when it comes to mastering these odds.
Different Odds in Online Sports Betting Explained
Fractional odds in online sports betting is well known in the United Kingdom. This is often used in horse racing and sometimes referred as UK Odds, British Odds or Traditional Odds. Fractional odds are typically used to quote the net total. This net total will be paid out to the punter, in case he win, relative to his stake. For instance, a bettor’s odds is 5/1; this would mean that this odds in online sports betting will be multiplied by five in case it wins. A $20 bet, would be multiplied by 5/1, so, it would be equals to $100. Remember that the winning amount is different from the stake, thus, $100 plus the $20 stake would be equals to $120.
Understanding Fractional Odds
Fractional odds are one of the oldest forms of odds, and now it is adopted and still used as odds in online sports betting. Calculating fractional odds in online sports betting is extremely simple for it just uses fractions. Fractions have numerator and denominator. The denominator or the second number located at the right is the amount bet by a gambler, while the numerator (the one located on the left) is the amount the wager will yield. As an example, a bettor places a wager at 10 to 15 fractional odds. So, that would be 10/15 which means that for every $150 wagered odds in online sports betting, its potential earning would be $100. A bettor can take home a total of $250 ($150 stake + $100 profit) in fractional odds in online sports betting.
From its name, American odds in online sports betting is the favorite odds of Americans. This type of odds works differently for underdogs and favorites. Other people may call this form of odds in online sports betting as the Moneyline Odds. American odds show how much money a gambler should risk in order to win $100. For instance, if the odds in a game is -100, this means that a $100 should be risked in order to win $100. Thus, in every bet in this type of odds in online sports betting, the gambler can take the $100 profit upon winning his bet plus his original stake.
Understanding American Odds
Betting on the underdog or the individual, team or party who is expected to lose vs the favorite or the individual, team, or party who would likely win, plays a great deal in this type of odds in online sports betting. The lower the odds, the higher return of profit, but it’s riskier. For example, Team A in the National Football League has -100 odds (the favorite), and a bettor places a $100 wager on Team A. If that team wins, he would likely receive a total amount of $200 payout ($100 price + $100 stake). On the other hand, if the bettor is brave enough to risk that $100 to the Team B (the underdog) with +240 odds, and that team wins, he would get the higher payout. Upon winning from the underdog, the bettor can take home a total of $340 payout ($240 price + $100 stake).
Decimal odds in online sports betting is the popular odds in Australia, Canada, and Europe. This type of odds is otherwise known as European Odds. Most sportsbook uses this odds in online sports betting. In Decimal Odds, the quoted figure in the sportsbook is the exact amount which will be paid out in a winning wager. It is also equivalent to Fractional Odds’ decimal value, plus one. It is important that a bettor knows how to look at odds in online sports betting in forms of decimals or fractions, whichever he prefers. This is for the purpose of avoiding confusions and misunderstanding of the odds.
Understanding Decimal Odds
Working on with Decimal Odds is simple. For example, a bettor has odds of 5.00 and he places wager amounting $1, he will receive $5 total payout including the stake. Basically, in this odds in online sports betting, to compute for the total payout, the stake should be multiplied by the decimal. Another example is when placing the bet in a team in even-money. In decimal odds, an even-money bet is displayed as 1.00 + 1.00 as the original stake, making a total of 2.00 decimal odds. In this odds in online sports betting, and a bettor places $100, he can take home $200 (2.00 x $100) total payout.
How To Read Odds
NFL, NBA, English Premier League, Olympics and other more games and sports are now available in online sports betting and thousands of Internet sportsbook. To go with the flow, bettors should also know how to read odds in online sports betting. Reading and understanding how odds work in online sports betting is the most important thing a bettor should know. Odds can tell how much money is about to win as well as how likely an event is to happen. It will enable a bettor to work out and calculate in advance how much money he can win. Its critically important and may sound confusing at first, but then, its worth the effort. Let’s start first with these vocabulary words:
Bookie: otherwise known as the bookmaker is the person who sets the odds and accepts bets.
Action: it’s the wager or bet
Hedging: it’s the terminology used in placing the wager on the individual or team with the high or low odds in online sports betting.
Chalk: another term for favorite.
Favorite: the individual or team which has the higher odds.
Underdog: the individual or team which has the lower odds.
Wager: the money risked by the gambler on an event for any odds in online sports betting.
Line: it’s the current point spreads or odds.
The Over/Under Odds
In the shorter term, over/under odds in online sports betting is known as “The Total.” The over/under betting odds is a little complex than the previously mentioned odds and reading it works differently for each type of sport. Sports like hockey, football, baseball, UFC, horse racing, basketball and more has over/under odds in online sports betting. The over/under odds will let a gambler bet on whether or not the total score of the competing parties will go over or under a certain amount. A bettor should watch out for the over/under and bet on it. This varied on every sport, for instance, in a football game, if the number is 42 and a bettor bet for over, 43 points in total is needed for each team. Other rules apply in various sports.
The Moneyline Odds
Moneyline betting odds in online sports betting is the bet placed on who or which team will win the game. This does not necessitate the point spreads or other variables. Gamblers can simply use moneyline betting odds in online sports betting through picking his preferred team and place a wager. However, the payouts in this odds in online sports betting are usually different. Remember that betting through moneyline, the negative symbol defines the favorite, while the plus sign is for the underdog. For instance, in a baseball game, Team A is the underdog with +120 and Team B is the favorite with -130. For the favored team, a bettor should risk $130, to be able to collect $100, while if a bettor places wager on the underdog at $100, he can take home $120 as profit.
The Point Spread
The Point Spread is the most common type of odds in sports betting. It is mostly used in main sports such as basketball, football, baseball, hockey, and more. Its very simple, Point Spread or “The Spread” will tell the bettor which team is favored and by how much amount. For example, a bettor is betting on the point spread for Team A in basketball which is favored by -6. This would mean that Team A, must beat the opposing team by 7 points or higher in order to win the bet. However, if a bettor is placing his wager on Team B in basketball which is the underdog by +6, this means that, as long as Team B does not lose 7 or more points, he wins.