Notes

Betting Odds - Types of Bets and Calculations
You'll want to bet on a sporting event , which is A and B. The first thing to know is the amount you'd get if you were accurate. The odds are the first thing a bookmaker will reveal to you. They are numbers that show the amount you will get if you succeed in winning the bet. They all refer to the same amount but you won't find the exact same amount at every sportsbook since each one has their own way of calculating the odds. This article describes the different kinds of betting odds and how to calculate the expected gains in each instance.

There are computer of odds specifications. they are: Decimal Odds , also called European Odds Fractional odds also know as UK odds, and American odds. Because they accurately portray the situation, Decimal forms are considered the standard specification method. The purpose of odds specification, in whatever form they're given, is to relate the amount a bettor wagers to the amount he/she wins. To do this, you must understand three words: stakes, pay-outs, and winnings. Stakes is the amount of money wagered and winnings is the winnings from betting, and pay-outs are the sum of money to be paid when a bet won. Pay-outs are the sum of winnings and stakes. The terms may seem unimportant, but they are the core of any odds calculations.

It is also important to be familiar with three additional terms that relate to the strengths of match teams These are Odds the Odds On, and the Odds against. Evens refer to situations where the two teams are equally strong, and therefore there isn't a favorite or underdog. You put $1 bet to make $1, provided that there are no commissions involved. Odds-on are the odds of the favorite , and in this case winnings are less than the stakes. Odds-against is the odds of the underdog. In this instance it is more likely that winnings will be greater than stakes. In the case of evens odds (the most common type of sports betting) odds are assigned to both sides. They'll be 1.90 in decimal odds, 9.10 in fraction and -111 American odds. All of these odds refer to the same thing, "bet one dollar for 90 cents". In fact, if there was no commission, or if the betting was just between two friends, the odds would be 2.0 1/1, 1.0, and 100 in the three different types of odds; they mean "bet one dollar to win one dollar".

play free (European)

These are simply factors that indicate how-many-times-the-stake will the pay-out be. For example odds of 2.50 means that the payout is two and a half times the stake. That is, for every dollar wagered, the payout will be $2.50.

fun player games -out = stake * Decimal Odds
Winning = stake * (Decimal Odds-1)


Fractional Odds (UK)

These numbers show that a stake that is equal to or higher than the numerator will yield a winning sum equal to its numerator. If you place a bet on 11 units and win 10, the odds are that you will be able to win 10 units. For every $11 you wager, your winnings will be $10.

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


American Odds (US)
American odds are represented with numbers that are greater than 100. They are which are preceded by the "+" or "--" sign. These are not mathematical, they are simply symbols that indicate whether your winnings are greater than or lower than the stakes. The positive sign can be used to represent the underdog who's winnings are greater than stakes, or an odds-against-bet and the negative sign is for the odds-on and favorites. The two odds have totally different definitions and thus employ calculations that are not related.

Negative odds indicate the amount you have to bet to win $100. For instance odds of -110 indicate that in order to win $100, the wager must be at least $110.

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

Positive odds indicate how much the winnings will be when $100 are gambled. If $100 is bet, odds of +110 indicate that $110 will be won.

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

There are some outstanding characteristics of these chances.

games people play are always more than 1.0 since "1" represents the stake.
American odds are always greater than 100 or equal to (recall that + and - are just symbolisms, not mathematical numbers).
American and fractional odds are indicators of winnings. Decimal odds show payouts.
If you get the same amount as your stake, it is referred to as even odds. Therefore, even odds are represented by 2.0 in decimal, 1/1 in fractional odds, and by 100 in US odds(-100 and +100 are the same).
In cases of odds-on, meaning that stakes are smaller than winnings that is usually the case of a favorite team the decimal odds range between 1.0 and 2.0. In fraction odds they are identified by the factor that the numerator (winning) is less than the denominator (the stake) In US odds they are the negative odds.
In cases of odds-against, that is, when winnings are greater than stakes, which is usually the case with an underdog team, the decimal odds are higher than 2.0 The numerator is likely to be greater than the denominator in fraction odds. These are the positive odds for US odds.




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