Today we’ll take a look at two the most common forms of betting odds. There are American odds and UK odds. Let’s start with the American odds.
American Odds
American odds are easily identified by the plus and minus signs found in front of each of the numbers. And this also helps you quickly figure out which options are favoured in any given market. If the market has a plus side and it is the underdog that has the minus sign it’s a favourite option and it also has a higher chance of winning the event. In order to better understand this concept let’s take a look at some examples.
For example, we see the team A, which is listed at odds of +115. Don’t forget plus means that they’re the underdog. On the other hand, the team B is listed at -125, that makes it the favourite team at the competition. So, now we understand the concept who is projected to be the winner of the game and who will probably lose this game. But let’s figure out how to calculate the return on the waiter. American odds are all based off number 100 odd. Odd, starting with the minus sign, represents how much you must wager to win $100. Odds, starting with the plus sign, tells us how much a $100 wager would equal and winnings. Using the same example, we can see that the Team A is the option of plus odds and the underdog. knowing that plus odds represent how much we would win with the $100 bet. We know that a $100 wager on team a winning the event would equal a profit of $115. Team B on the other hand is listed at minus odds or as the favorite. Knowing that minus, odds show us what we must risk to win $100. So, we understand that a $125 bet on Team A will only yield the profit of $100. To sum up, American odds are most commonly used in the USA and Canada, show us the chances a specific team of winning an event.
UK Odds
Let’s take a look at fractional odds, also known as UK Odds. These odds are one of the oldest forms of odds for sports gamblers and the most often used in the United Kingdom and Ireland. These odds are played as fractions show how much you will win on a bet compared to how much you put on it. The first number in the fraction shows how much you will win if you place the amount shown in the second number.
For example, if you have odds of of 2/1 and stake £1, you’ll receive £2 in winnings (not including your stake). This works on a ratio basis, so if you place £10 at 2/1, you’ll receive £20 winnings (not including your stake).
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. Be sure to check out more sports betting tutorials to know all aspects of sports betting to make smart and profit bets.
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