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Make sure you stick with the trustworthy books and avoid sites with poor reviews. Then familiarize yourself with the types of betting we explain below and take the plunge.
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Explore our brands: Contests. Sportsbook Review. Betting Odds, Lines and Spreads. NFL Odds. Box Scores. ESPN2 ESPN The transition from fractional odds to decimals largely kicked off with the growing popularity of the betting exchanges such Betfair.
Our odds converter tool will allow you see odds in whatever format you like. Betting odds represent the probability of an event to happen and therefore enable you to work out how much money you will win if your bet wins.
Hopefully, that clears up betting odds. You should now have the knowledge to read betting odds, understand how likely it is to happen, and how much you stand to win.
To know more about our writers and our ranking method you can learn more about MyBettingSites. When you bet an NBA total and want to know the current pace of play, you will need to use a calculator to estimate the NBA final score quickly.
This tool is useful if you want to know how your basketball over-under bet is looking or if you want to take advantage of the bets opportunities spreads.
The same applies to the super bowl and Stanley cup. Without game season per team and 30 teams, MLB is the ultimate sports action for sports gaming.
It is no secret that many people crush bet on MLB, as it has most of the experts. You are here Home. My Matches Next Matches. All events. Search Search.
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Super League 2. Ligat ha'Al 2. Leumit League 1. Liga Alef North 1. Liga Alef South 1. Serie B The odds are a reflection of how likely an event is to happen.
They are also a way of understanding your potential return. Finding a good market, a smart market to bet on, is about finding one where you think the operator is wrong on both accounts.
Say you think that the odds are actually closer to evens. This would be a good market to bet on, because this difference of opinion means that the potential return, which these odds also represent, is very generous should your opinion be proven correct.
In order to help you with understanding betting points, we have broken down the three common types of odds format , with examples and explanations of how each of translates to both an implied probability, and cash return.
This is the crux of explaining betting odds. Do note that for fractional odds into implied probability, as well as into cash and into decimal and American odds, we will be using the same example for the sake of simplicity in helping you understand the core concepts like how do odds work together.
Rest assured these formulas are just as useful with any other example. Here are three really simple examples of how fractional odds can be converted into implied probability:.
In order to calculate fractional odds, we will utilise the last example. The second half — 1 in this instance — is represented by Y.
Or 1 divided by This comes out as This is an even simpler formula. All you do is say you win X for every Y that you bet. It really is as simple as that.
This allows you to both understand what the fractional odds represent both in terms of how likely an event is to happen according to the bookmaker, and how much you would win should this wager be successful.
If you think they have a much better chance that than that, then that would be a smart market to back because you are looking to get 9x your return.
That is one basic calculation for smarter betting. Here we are going to do the exact same thing but this time with decimal odds, so you are prepared no matter what odds are thrown at you.
The formula for working these out yourself is also very simple. That is your implied probability. Other examples can look more complicated than that, but the formulas are always the same.
Understanding how decimal odds convert into cash is very simple as well. The way this works is simple. You multiply the decimal amount by your stake, and then take off the original stake amount.
Nice and easy once again. This is the last point on our journey into understanding all the different key types of odds and how betting odds work!