Notes

Betting Odds: Types, and Calculations
If games looking to bet on a sporting event between teams A and B, the very first thing you want to be aware of is the amount you'd win if accurately predicted the outcome. The first thing a bookmaker will show you is the odds since they are just that - numbers that tell the amount you'll gain if you win the bet. Although they're all the same amount, you'll not find a consistent number at different sportspooks since every one uses a different method of specifying the odds. This article will discuss the various types of betting odds specifications and also how to calculate the potential gains for each.

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 preferred method for defining odds. The goal of odds specifications regardless of the format they are given, is to relate the the amount of money a bettor wagers in relation to the winnings he or she earns. To accomplish this, it is necessary to be aware of three terms: stakes, pay-outs, and winnings. find out more are the amount of money that is being wagered. mobile games refers to the winnings of a bet. Pay-outs, on the other hand, are the amount paid after a bet has been won. Naturally, payouts are the result of winnings and stakes. They may appear to be insignificant, but they are the core of any odds calculation.

It is also essential 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 are when the two contestants are equally strong and thus there is no favorite or underdog. You bet $1 to make $1, provided that there are no commissions involved. Odds-on is the term used to describe the chances that the favorite will prevail, and in this instance the stakes are lower than the amount of money won. Odds-against refers to the odds for the underdog. In this case the odds are generally higher than stakes. For example, in the most typical scenario of sports betting on an event between two competing contestants (evens odds), the odds assigned to both will be 1.90 in decimal odds 9/10 in fraction and -111 for American odds that all translate to "bet one cent to win 90 cents". If there was no commission or if bets were just among friends, the odds would have been 2.0, 1/1, and 100 depending on the three kinds of odds. They refer to "bet one dollar to win a dollar".

Decimal Odds (European)

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

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


Fractional Odds (UK).

These fractions indicate that a stake equal or greater than the numerator will result in winning equivalent to the numerator. If you stake 11 units and you win 10 units, the odds are that you will win 10 units. For every $11 wagered the winnings will be $10.

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


American Odds (US).
American odds are represented by numbers that are always greater 100 or equal to 100. They are preceded by a '+' or '"-" sign. These symbols aren't mathematical symbols, but they are symbolic of your winnings in relation to stakes. The positive sign can be used to signify an underdog , whose winnings surpass stakes or an odds-against wager; while the negative sign signifies the odds-on and favorites. Both odds have different definitions, and therefore employ calculations that are not related.

Negative odds show how much you can bet to win $100. If your odds are 110, that means $100 wagers are required to make a winning bet of $100.

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

Positive odds indicate how much winnings will be when $100 is wagered. 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)


A few outstanding aspects of these odds.

Decimal odds always higher than 1.0 since "1" represents the stake.
American odds are always greater than 100 or equal to (recall that + and - are symbolisms, not mathematical signs).
Fractional and American odds are indicative of the amount of money won, while decimal odds indicate the payouts.
Even odds, with regard to a fair bet, are when you win exactly the same amount as your stake. Thus, even odds are expressed as 2.0 in decimal, 1/1 for fractional odds and by 100 in US odds(-100 and +100 are the same).
In cases of odds-on, meaning that winnings are less than stakes, which is normally the case with a preferred 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 negative odds.
If there is an odds-against scenario, in which winnings exceed stakes, then the decimal odds are higher than 2.0. The numerator in fraction odds will be larger than the denominator. These are the US odds.



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