Notes

Betting Odds: Types and Calculations
You want to be able to bet on a sporting event , which is A and B. The first thing you need to know is the amount you could win if your prediction was accurate. In fact, the first thing the bookmaker will provide you with is the odds since they're just numbers that tell you how much you will be able to win if you place the bet. They all mean the same amount , however you won't find the exact same numbers at every sportsbook because each one has their own way to calculate the odds. This article will discuss the different types of betting odds, and how to calculate anticipated gains for each one.

There are three types of odds specifications: Fractional odds also known as UK odds and Decimal odds, also known as European odds. Because they accurately portray the situation, Decimal forms are considered as the most common method of specification. The objective of odds specification, in whatever form they are given is to connect the amount of money a bettor wagers to the amount he/she wins. For this purpose one must be aware of three terms which are: stakes, winners, and pay-outs. Stakes is the amount of money bet while winnings refer to the amount that is won from the bet, and payouts are the sum of money to be paid when a bet won. Pay-outs are the sum of winnings and stakes. These terminologies might seem insignificant but they're the heart and soul of any odds calculations.

It is also important to know three other terms related to the strengths of teams playing These are Odds the Odds On, and the Odds against. Evens refer to when both players are equally strong. If there are no commissions to be paid, you can bet $1 and take home $1. Odds-on is the probability of winning for the favourite and in this case winnings are lower than stakes. Odds-against refers the odds for the underdog. In this instance the odds are generally higher than stakes. For example, in the most typical scenario of betting on sports in a match between two competitive contestants (evens odds) the odds allocated to each are 1.90 in Decimal odds, 9/10 in fraction and -111 in American odds and all are the same "bet one dollar to get 90 cents". If there were no commission involved, or if the bets were just between two friends, the odds would have been 2.0 1, 1/1 and 100, for the three types of odds. They refer to "bet one dollar and 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 this means that the pay-out will be double as large than the stake. For every dollar bet, the payout is $2.50.

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



Fractional Odds (UK).

These numbers indicate that a stake that is equal to or greater than the numerator will result in winning equivalent to the numerator. If you wager 11 units and get 10, chances are that you'll get 10 units. For every $11 wagered you will win $10.

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


American Odds (US).
American odds are denoted by numbers always greater than 100 or equal to 100. play online are preceded by the '+' or '"-" symbol. These symbols are not mathematical signs, but are symbolic of your winnings in relation to your stakes. The positive sign could be used to indicate the underdog who's winnings are greater than stakes or an odds-against wager and the negative sign signifies bets on odds-on or favorites. Both odds have different definitions and hence use calculations that are unrelated.

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

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

Positive odds represent how much winnings are likely to be when $100 is bet. For instance, 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)

These odds are notable for their characteristics.

Decimal odds always are higher than 1.0, since "1" refers to the stake.
American odds are always greater than or equal to 100 (recall that + and - are just symbolisms, not mathematical symbols).
Fractional and American odds are indicative of winnings as are decimal odds, whereas fractional odds show pay-outs.
If you win exactly the same amount of money as your stake, this is known as an even chance. Even odds are represented by 2.0 in decimal, 1/1 for fractional odds, and 100 in US odds (-100 and +100 being identical).
In technology of odds-on, which is when the winnings are less than stakes typically the case with a preferred team the decimal odds range between 1.0 and 2.0. In fraction odds, they are identified by the fact that the numerator (winning) is smaller than the denominator (the stake) In US odds they are the negative odds.
If there's an odds-against circumstance, in which winnings exceed stakes The decimal odds will be higher than 2.0. The numerator of fraction odds will be greater than the denominator. These are the US odds.



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