Skip to main content

A Detailed Explanation of Sports Betting Odds

Sports Betting

Sports Betting Online

Before everything else, you need to at least have an idea of the use of sports betting odds in the online casino industry and the sports betting world. This will at least give you more successful best that will guarantee that real money online.

Sports betting is quite popular in the gambling industry. Popular sports you could bet on include American football, horse racing, and soccer.

Therefore, this article will give you sports betting odds variations to help give you a better chance at winning real money.

Where to Use Sports Betting Odds

The whole idea behind sports betting odds is to give bettors online an analysis of the probability of their team winning. Also, you will get information on the amount of real money you will get for every successful bet.

There are a lot of things surrounding the picking of certain betting odds by sportsbooks. For example, they might use betting odds from other online sports betting bookmaker’s previous betting odds.

However, they will alter their findings to make them fit into the current match. Not forgetting to make sure that the winnings suit their particular budget.

What are Fractional Odds in Sports Betting?

Fractional odds are a quite popular way of presenting sports betting odds. Especially, in the UK gambling market. Hence they are usually called the British Odds or, generally, traditional odds.

These bets will show the online sports bettor how much they could possibly win. But, this will be according to how much they would have put on the betting line.

The illustrations below will show you how to work out a fractional betting odds in a horse racing scenario.

In this case, the chosen horse is Acolyte which has a winning odd of 5/2. Meaning, when you place a bet of $20, you will get $50 in returns. Note that the original wager will be returned to you. Hence, $50 will be in profits.

Also, if you get to bet an amount of $40, you will have to multiply that by 2.5/1. This is a lot easier way of going about it considering that 5/2=2.5/1. Hence, $40 will give you $100.

In the case of $20 with 5/2 winning odds. You can just multiply 20 by 2.5. Note that you will get your wagering amount back for every winning bet.

If you are new to fractional odds, this can all be a bit confusing. But, you need to know that this is only an estimate of how much you can actually win. The odds in sports betting can rise in the heat of the moment. Which means that you may actually get more.

  1. Money Line Odds

    As the name suggests, American odds / money line odds are famous in the United States gambling market. When it comes to favorites and underdogs, American odds are quite different from the British fractional odds calculation.

    American odds are called money line odds because they will show you how much money you have to put on the line to win a certain amount.

    In our case, we are going to be using the Campeonato Brasileiro Series B football match between Boa Esporte Clube and Salgueiro AC. According to the illustrations, you have to wager $138 to make a $100 win.

    On the other hand, we have the underdog side. This will show you how much you will win after placing a certain wager. For example, you will win $200 from making a $120 bet.

    Instead of starting with how much you should bet for a certain amount, it shows you how much you will win after placing a certain bet. The tables will give you much clearer clarification.

  2. Decimal Odds

    Most sports betting odds calculators are now favoring the use of decimal odds. Especially when it comes to mainland Europe and Australia.

    This way of sports betting odds calculation will give you the amount you will win and not how much you have to wager. An example can be that of the Copa America Football tournament. If the decimal is 2.38 and you happen to bet $100.

    You will need to multiply your winning decimal by the money your wager. Hence, 2.38 by 100, making your winning 238. Making life easier for sports betting calculation.

    The illustration below will give you a much clearer understanding of the whole decimal approach to sports betting odds calculation.

Mobile Sports Betting

Mobile sports betting apps are the best way to go about your online sports gambling. This is because you can use your mobile phone to stay updated. Also, when it comes to live sports betting you can quickly place your bet on time by just swiping on your phone.

Additionally, we have those sports betting odds calculators that will keep you informed. They will do all the job of making sure your bets are up to date and good.

How to Choose the Best  Betting Odds

Depending on where you are located, online sports betting odds will be calculated according to the sports book’s preference.

Recently, sports betting books have been trying to have a variety of odds calculating formulas to choose from. Thus, creating less confusion by allowing us to use the formula you are comfortable with.

Also, if everything still seems complex, there are plenty of sports betting odds calculators that you can use to help you out.

How to Place Your Bet

We have given all you need to know about sports betting odds calculation. Let us now cover the most important part of sports betting, placing the wager.

Here are a few tips that you could make use of when you place the next bet.

  1. Analyze Your Sportsbook Options

    Sportsbooks betting odd will be set according to what they are comfortable with. Therefore, now that you know how to calculate your own sports betting odds. You can use this to make sure you get the best option to win more real money.

  2. Risk Analysis

    If you are going to be using the underdog method, know the risk that comes with placing a certain wager. For example, placing a 10/1 bet is a quite reasonable risk in comparison to a 100/1 bet. You will not really have much to lose.

  3. Keep an Eye on the Odds

    The best way of staying in touch with your odds is through your mobile sports betting app. When the odds start changing, it will definitely mean there is a new development you should take note of. That way, you will know how much you need to wager.

  4. Stay Informed

    Widen your sports betting friend circle. Surround yourself with sports fanatics who will keep you informed on the latest NFL news from their twitter and Facebook accounts. In turn, this will help you make wiser betting decisions. You will know the right team to place your money on.

Sports Betting FAQS

Sportsbooks will give you odds for every profitable part of a bet. Meaning, you have the freedom to bet on any outcome you want. But, always know the bookmarkers always have an upper hand. Bookmarkers use different ways they are comfortable to calculate their odds according to every possible outcome of the game.
Sports betting odds are how sports gamblers know how much to wager before a match. They can do so by calculating the possible payouts they will get after a specific game result. The possible winnings per outcome will be provided to you by the bookmarker.
Yes, the definitely can change. This will all depend on what will be taking place in the match. Here is a list of some of the things that can affect sports betting odds: How much money is in the market How the sports gamblers a wagering Odds being offered by competing bookmarkers What will be happening in the game
Sports’ popularity can affect the type of betting odds on offer. For instance, the fact that soccer has more viewership means that there are more people betting on soccer games. Hence, there is more money to win.
There quite a number of ways you can use to make full use of your sports betting odds. Firstly you can start by doing more research on sports betting. That way you will have a better understanding of whatever it is that you will be doing. Try to get the best value bets. This can be done by changing odds into probability. You can do this by putting the bottom number of your fraction on top of the sum of the two fractional components. For example, 6/1=1/7. Knowing the teams on the line can also help in the placement of value bets. Keep practicing. The only way you can do this is by not stopping wagering on sports. That way yo0u will get more familiar with the whole concept.
Yes, they do. There are always two sides to the coin. In this case, we have good betting odds and bad sports betting odds. Although they are really hard to pinpoint in the beginning, the experience will teach you the various ways you can go about any odds give.
Calculating your sports betting odds will probably help you throughout your whole betting process. You will know how much you need to wager on the rest of your bets to maximize your winnings. Here is one way you can use to calculate if you place a $10 bet on 5/1 odds basis: 5/1 means you are multiplying your bet by 5. If it’s 5/2 you will multiply it by 2.5. Hence, 5/1 by 10= 50. Since you get your betting money back, you will be given 60.