As a newcomer to sports betting, understanding how odds work is crucial. Knowing how to read and interpret the different types of odds is key to profitable betting.
Odds in sports betting are a numerical representation of the bookmaker’s opinion on the probability of the outcome of a particular match. Different countries use different forms of quotation display, but for ordinary bettors the most familiar are decimal (European) odds.
Sports betting odds types include:
- Fractional odds (British): common in the UK and Ireland.
- Decimal odds (European): Popular in Europe, Canada and Australia.
- Moneyline odds (American): Widely used in the United States.
Three main types of betting odds: fractional (British) odds, decimal (European) odds, and moneyline (American) odds.
These formats are alternative ways of presenting the same fact and have no difference in payouts.
- British fractional odds are the ratio of the amount won (profit) to the bettor’s wager.
- European decimal odds represent the amount a bettor can win for every $1 he bets.
- American moneyline odds, depending on the negative or positive sign, indicate either the amount that must be bet to win $100 or the amount that can be won for every $100 bet.
In general, experts do not highlight good or bad, right or wrong odds, it must be justified by your statistics and analysis. Quotes are set by bookmakers taking into account the statistics known to them, but there are always unforeseen factors.
Follow along to learn how sports betting odds work.
What Do Odds Mean?
Sports betting odds give bettors a price they must pay in order to win a particular amount of money on a bet.
In probability theory, calculate betting odd gives a measure of the probability of a particular outcome . Odds are commonly used in gambling and statistics. Odds in sports betting are calculated keeping in mind that the main goal of sports bookmakers is to get equal money on both sides of the bet.
For example, for an event that has a 40% probability of occurring, we might say that the odds are “2 in 5”, “2 to 3 in favor”, or “3 to 2 against”.
To translate the bookmaker’s odds into percent, i.e. into probability, you need to divide 100 by it. For example, we have a quote of 2.5, if we divide 100 by 2.5, we get 100/2.5=40%. And vice versa, if we have a calculated probability of 40%, then, dividing 100 by 40, we get 100/40=2.5.
Difference In Bookmaker’s Odds
Observing different bookmaker’s offices, you can notice how their odds for the same sporting event can differ. The main factor of these differences is the bookmaker’s margin. Each odds placed in the bookmaker’s line already contains its percentage, or in other words – the margin.
Someone deliberately overstates it to reduce their risks and increase profits, and someone on the contrary – attracts players with high odds, working to increase profits by expanding the client base.
So before you place a bet it is worthwhile to look carefully at the bookmaker, scrutinize its odds and compare with competitors. After all, your profit directly depends on it.
Bookmakers With High Odds
You want to bet on sports at the most favorable odds, then see what is the best betting site to choose from this article. With so many online bookmakers, it’s hard to decide which one is best for you. You shouldn’t stick to one sports site and bookmaker if you want to win at betting.
Whether you are an amateur or a professional bettor, finding the bookmakers with the highest odds is the most important factor. Searching on your own takes a lot of time and effort.
There is already a rating and list of bookmaker sites with the best odds, which can be sorted by payouts in general or by sport. The criteria and process of selecting the betting sites with the highest odds involves evaluating several markets, sports and leagues, among others.
Here is a list of the very bookmakers that you can safely recommend if you are looking for best odds in sports betting and a safe betting environment:
- 1xbet;
- Betfair;
- Unibet;
- Parimatch;
- Mostbet;
- Bet365;
- Megapari;
- Ivibet;
- Betwinner;
- 22Bet;
- 888sport;
- Baji;
- LVbet, etc.
We recommend you to choose several operators at once, so you will get a guaranteed welcome bonus and from the start you will be able to get your winnings on the day of withdrawal request.
Helpful Tips
One of the first things to remember is to keep an eye on the movement of the odds. In sports, a lot depends on circumstances. Numerical values can change due to injuries of players, various legal proceedings, player’s transfer to another team, even the weather can have a significant impact.
This situation can lead to unexpected changes in your opponent’s game, and if you react in time, you can profit from it.
Important! Every beginner needs to learn how to convert odds into percentages, which independently assess the chances of teams.
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