Notes

Betting Odds: Types of Odds and Calculations
If you want to place a bet on a sporting event between two teams, the very first thing you want to be aware of is the amount you would win if you correctly predicted the outcome. The odds are the first thing a bookmaker will reveal to you. These are numbers that indicate how much you can get if you succeed in winning the wager. They all refer to the same amount , however you will not find the exact same number at every sportsbook since each one has their own way of calculating odds. This article will discuss the various types of betting odds specifications as well as how to calculate potential gains for each.

There are three different types of odds specifications. they are: Decimal Odds , also known as European Odds, Fractional odds, also known under the name UK odds, and American odds. Due to their precise representation of the situation, the Decimal types are considered to be the standard specification method. The objective of odds specification regardless of the form they are given is to link value of the money a bettor wagers on winning to the amount that he or she wins. To accomplish this, it is necessary to be aware of three terms: stakes and winnings. Stakes refer to the amount that is bet. games people play " refers to the winnings in a wager. Pay-outs, on the other hand, refer to the amount payed after a bet been placed. Pay-outs are the total of stakes and winnings. While these terms may appear to be insignificant, they are actually the at the heart of calculations based on odds.

Additionally, it is essential to be aware of three additional terms regarding the strength of the teams playing in a match. they are Evens, Odds-on and Odds-against. visit url occur when two teams are equally strong, and therefore there isn't a favorite or underdog; you place a bet of $1 and win $1, if no commissions are involved. Odds-on is the probability of winning for the favorite and the winnings in this case are less than the stakes. Odds-against refers to the underdog, where winners are usually higher than stakes. For evens odds (the most popular kind of betting on sports), odds are assigned to both sides. best 2 player games 'll be 1.90 in decimal odds, 9.10 in fraction and -111 American odds. Each of these odds mean the same thing, "bet one dollar for 90 cents". In fact, if there were no commission involved or if the bets were between friends, these odds would be 2.0 1, 1/1 and 100, respectively, for the three types of odds. They refer to "bet one dollar to win one dollar".

Decimal Odds (European)

These are simply factors that indicate how-many-times-the-stake will the pay-out be. For instance, odds of 2.50 mean that the pay-out is two and a half times the stake. For each dollar wagered, the pay-out will be $2.50.

Pay-out = stake * Decimal Odds
Winning = Stake * (Decimal Odds - 1)


Fractional Odds (UK)

These fractions indicate that a stake equal or more than the numerator is likely to result in winning equivalent to the sum of its numerator. For instance, odds of 10/11 mean that 10 units are taken home by a stake of 11 units, or for each $111 wagered, the winning will be $10.

Winning = Stake * Fraction Odds
Pay-out = stake * (Fraction Odds Plus 1)


American Odds (US)
American odds are represented using numbers that are greater than 100. These numbers are which are preceded by a "+" or "-" sign. These symbols are not mathematical signs, but are symbols of your winnings relative to your stakes. The positive sign can be used to indicate an underdog whose winnings exceed stakes, or an odds-against-bet and the negative sign is for favorites and odds-on betting. Both these odds are based on totally different definitions, and therefore employ different calculation methods.

Negative odds represent the amount of money you need to bet to win $100. For example odds of -110 means that in order to be a winner, the wager must be $110.

Winning = 100/negative American Odds

Pay-out = stake * (100/negative American Odds+ 1)

If $100 is wagered and the chances of winning are good. If $100 is bet, odds of +110 indicate that $110 is the prize.

Winning = stake * positive American Odds/100
Pay-out = Stake (positive American Odds/100 + 1)

These odds are notable for their characteristics.

Decimal odds are always higher than 1.0, since "1" refers to the stake.
American odds are always greater than or equal to 100 (remember that the letters + and – are not mathematical signs).
American and fractional odds are an indicator of winnings. Decimal odds are a sign of payouts.
If you win exactly the same amount of money as your stake, then it is referred to as even odds. So, evens are expressed as 2.0 in decimal, 1/1 for fractional odds and 100 in US odds(-100 and +100 are identical).
In the case of odds-on, meaning that stakes are lower than winnings, which is normally the case of a favorite team the decimal odds are between 1.0 and 2.0. In fraction odds, they can be distinguished by the fact that the numerator (winning) is less than the denominator (the stake) and in US odds they are the negative odds.
In fun player games of odds-against that is, when winnings are greater than stakes, which is usually the case of an underdog team, the decimal odds will be higher than 2.0 The numerator is likely to be greater than the denominator of fraction odds. These are the positive odds in US odds.



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