The first and arguably most important thing that every bettor has to understand when placing a stake is the importance of the sports betting odds at work in each event.
- Why are odds so important?
- What are the types of odds?
- What factors affect the odds I get for each game?
- How can I use this information to my advantage?
These are crucial questions that bettors must ask and find the right answers to if they want to have a rewarding experience while sports betting. Hello! My name’s Joey, and I’ll be supplying you with accurate answers to these pressing questions in today’s exciting episode! When you understand the pivotal role that sports betting odds play in your overall gaming experience and the variables that influence those odds, you are more likely to have an easier time placing the right bets! Open yourself to valuable information so you can achieve more with your bankroll. As with everything in life, knowledge in betting is important! Access first-rate sports betting industry knowledge when you watch each episode in our amazing Betting Tips Video Series! With the knowledge you obtain here, you can shoot for lesser losses and bigger payouts. All that you have to do is simply Like this video, Subscribe to the channel it’s streaming on, and adjust your settings, so you’re among the first to see and use the valuable information we offer!
To quickly emphasize, sports betting odds directly determine what you stand to win from every wager you place on a sports event. While there are different types of sports betting odds, they all ultimately follow the same blueprint. Since odds are directly tied to the possible outcome of any sports event, the higher the likelihood of an event occurring, the lower the odds, and as such, the less you’ll earn. Inversely, the lower the likelihood of an event occurring, the higher the odds, meaning you stand to win huge if that outcome becomes a reality. Of course, there’s the middle ground; here, you stand a chance to win your stake with the addition of a 50-50 win or loss opportunity. There are three popular formats of odds, and you’re equally likely to encounter any one of these, depending on where you choose to bet, so knowing the basics of how they all operate might prove very helpful. There’s the:
Also known as moneyline odds, this is more commonly observed on American betting platforms. The odds here are represented as a positive value, which tells you how much you stand to win when you accurately bet $100. Alternatively, it could be expressed as a negative figure, which lets you know what unit you have to wager to score a profit of $100.
Outside American betting platforms, this is the odds-type you’re most likely to encounter as it is the most straightforward and convenient to calculate odds format in use today. Typically expressed in decimal form, as the name implies, if you play a game with 2.5 odds that you’ll win and you eventually do, assuming you bet a sum of 100 Ringgit on the game, what you’ll win will be 2.5 multiplied by the size of your stake which will be 250 Ringgit.
More popular in the betting circles in the United Kingdom, this odds format can be a bit challenging to handle at first. Just as the name suggests, the format is expressed in fractions, such as 2/1, 6/1, and so on. In this simple format, the “1” represents a unit of your stake so if you were to win a 6-to-1 bet, you would get six times what you bet and so on. Things get slightly complicated to calculate, however, when the odds appear like 3/2 and 9/8. Using 9-to-8 as an example, you get 9 units for every 8 units that you staked if you win. It can get confusing but given time, you’re certain to get the hang of it.
Various things influence the size of the odds you get, which is one reason why most bookmakers never offer uniform odds. The sports betting odds you see with a particular bookmaker are usually a direct result of how that bookmaker perceives a particular sports event. Consequently, the best thing you can do to leverage this information is to shop around for the most favorable odds before placing bets with any bookie. If you’d like a more detailed analysis of how to do this, simply drop a comment below! You can also find a link to a bookmaker with the best odds for every game down there.
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