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Betting Odds: Types and Calculations
If play free games looking to bet on a sports game between teams A and B, the first thing you need to know is how much you'd win if were to predict the result correctly. In reality, the first thing the bookmaker will provide you with is the odds as they're just numbers that will tell you how much you will gain if you win the bet. They all represent the same amount but there isn't the exact same numbers at every sportsbook since each one has their own way of calculating odds. This article will explain the various types of betting odds and the methods to calculate the potential gains in each case.

There are three different kinds of odds specifications. they are: Decimal Odds , also known as European Odds, Fractional odds, also known as UK odds and American odds. Since they accurately reflect the actual situation, Decimal forms are considered the standard specification method. The goal of odds specifications, in whatever form they are given is to connect value of the money a bettor wagers to the amount he/she wins. To accomplish this, it is necessary to be aware of three terms: stakes and winnings. Stakes refer to the amount bet. The term "winnings" refers to the amount that is won in a wager. Pay-outs, on other hand, refer to the total amount that is paid out after a bet has been placed. Pay-outs represent the sum of stakes and winnings. Although these terms might seem trivial, they are at the heart of calculations based on odds.

It is also crucial to know three other terms related to the strengths of teams in a match They are called Odds, odds on, and odds against. Evens occur when two contestants are equally strong and thus there isn't a winner or loser; you bet $1 to get $1, even if there are no commissions are involved. Odds-on are the probability of winning for the favorite , and the winnings in this case are less than stakes. check my site -against refers the odds for the underdog. In this case, winnings are usually greater than stakes. In the most frequent scenario of sports betting on an event between two competing contestants (evens odds) the odds allocated to each of them will be 1.90 in decimal odds 9/10 in fraction and -111 in American odds, all of which translate to "bet one cent to make 90 cents". The odds, even when there were no commissions or bets between friends, would be 2.0 1. 100 for each of the three types. They mean "bet one cent 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 means that the payout will be two and one-half times the stake. For each dollar wagered, the pay-out is $2.50.

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


Fractional Odds (UK)

The fractions here indicate that a stake equal to the denominator will bring a payout equal to the numerator. For example odds of 10/11 means that 10 units will be taken home with a stake of 11 units, or for each $111 wagered, the winning will be $10.

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



American Odds (US)
American odds are indicated by numbers greater than 100, which are preceded by an "+" or "--" symbol. These symbols are not mathematical symbols, but they are symbolic of your winnings relative to stakes. The positive sign is used to indicate the underdog when the stakes are higher than winnings or an odds-against-bet. the negative sign is for the odds-on or favorites betting. Both odds have different definitions and hence make use of calculations that aren't related.

Negative odds show how much you can bet in order to win $100. For example odds of -110 means that, in order to win $100, the bet must be $110.

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

If $100 is wagered, the odds of winning are positive. For cool games to play , odds of +110 mean that $110 will be won when $100 is wagered.

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

Some outstanding features of these opportunities.

Decimal odds always more than 1.0 since '1' represents the stake.
American chances are always higher than or equal to 100 (recall that + and - are symbolisms, not mathematical signs).
American and fractional odds are indicators of winnings. Decimal odds are a sign of payouts.
Even odds, in relation to a fair bet, are when you win exactly the same amount of money as the stake. Even odds are represented as 2.0 in decimal, 1/1 in fractional odds and 100 in US odds (-100 and +100 being the same).
In the case of odds-on, meaning that stakes are smaller than winnings, which is normally the case for a favourite team the decimal odds range between 1.0 and 2.0. In fraction odds, they can be distinguished by the factor that the numerator (winning) is less than the denominator (the stake) In US odds they are the negative odds.
In the case of odds-against that is, when winnings are greater than stakes, which is usually the case of an underdog team The decimal odds are higher than 2.0 The numerator will be higher than the denominator of fraction odds, and these are the positive odds for US odds.



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