Notes

Betting Odds: Types and Calculations
If you're looking to place a bet on the outcome of a game between teams A and B, the primary thing you want to be aware of is the amount you could win if you accurately predicted the outcome. The first thing the bookmaker will show you is the odds since they're just numbers that show the amount you'll gain if you win the bet. But, even though they'll all be an identical amount, you'll not find a consistent number at different sportspooks since each has its own method of specifying the odds. games will explain the various kinds of betting odds and the methods to calculate the expected gains for each one.

There are three kinds of odds specification: Fractional odds also known as UK odds, and Decimal odds, also known as European odds. Since they accurately reflect the scenario, Decimal forms are considered the preferred method for defining odds. free games to play of odds specification regardless of the form they're presented is to link value of the money a bettor wagers on winning to the amount that he or she wins. For this purpose, one has to be aware of three terms: stakes, winnings, and payouts. Stakes are the amount of money being wagered. The term "winnings" refers to the winning amount in a wager. Pay-outs, on other hand, are the sum of money that is payed after a bet been placed. Obviously, pay-outs are stakes plus winnings. Although these terminologies may seem trivial, they are at the heart of calculations based on odds.

It is also important to understand three other terms concerning the strength of teams in a match; they are Odds-on, Evens and Odds-against. Evens refer to when both contestants are equal in strength. If there aren't any commissions involved, you can bet $1 to win $1. Odds-on refers to the probability of winning for the favorite and the winnings in this case are less than the stakes. Odds-against is the odds for the underdog. In this instance, winnings are usually greater than stakes. In the most typical scenario of betting on sports in a match between two competitive players (evens odds) The odds that are assigned to each will be 1.90 in Decimal odds, 9/10 in fraction, and -111 in American odds and all translate to "bet one dollar to make 90 cents". Even when there were no commissions or bets between friends, would have been 2.0, 1, and 100 for each of the three types. They are "bet one dime to win one dollar".

Decimal Odds (European)

These are simply factors that indicate how-many-times-the-stake will the pay-out be. If the odds are 2.50 which means the pay-out will be double as large as stake. For each dollar bet, the pay-out is $2.50.


Pay-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 equivalent to its numerator. For example, odds of 10/11 mean that 10 units are won by a stake of 11 units. For every $11 wagered, the winning will be $10.

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


American Odds (US).
American odds are indicated by numbers always greater than 100 or equal to 100. They are preceded by a "+" or"-" sign. These are not mathematical signs; they are simply symbols that indicate whether your winnings are higher than or lesser than your stakes. The positive sign can be used to represent an underdog whose winnings exceed stakes, or an odds-against-bet and the negative sign indicates the odds-on and favorites. Both odds have different definitions and hence use calculations that are unrelated.

computer represent the amount of money you need to bet in order to win $100. For example, odds of -110 mean that, in order to win $100, the bet must be $110.

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

Positive odds indicate how much winnings are likely to be when $100 is gambled. For example odds of +110 means that $110 will be won after $100 has been bet.

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

These odds are notable for their characteristics.

Decimal odds always more than 1.0 because '1' is the stake.
American odds are always greater than or equal to 100 (recall that + and - are symbols, not mathematical numbers).
American and fractional odds are an indicator of the amount you will win. Decimal odds indicate payouts.
Even odds, with regard to fair bets, are when you earn exactly the same amount as your stake. Even odds are represented by 2.0 in decimal 1/1 for fractional odds and 100 in US odds (-100 and +100 being the same).
In the event of odds-on which is when the winnings are less than stakes, which is normally the case of a favorite team, the decimal odds fall between 1.0 and 2.0. These are recognized in fraction odds by the fact that their numerator (winnings) is less than the denominator. It is also evident in US odds by the negative odds.
If there's an odds-against circumstance that sees winnings exceeding stakes The decimal odds will be higher than 2.0. The numerator in fraction odds is greater than the denominator. These are the US odds.



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