The betting odds are usually the likelihood of the occurrence of a certain result in an event and this is generally presented in the forms of fractions or decimals or the numbers are also presented with the symbol of plus or minus on the front of the numbers also called money line. Having a good grip of betting odds is of utmost importance, as without this it would be quite ridiculous to place bets as it doesn’t quite increase the chances of earning profits. Here are the types of betting odds.
The Various Betting Odds
The Fractional Odds
The fractional or the British odds are normally popular among the British or Irish sites. These odds are the largest sought odds worldwide as these are used by the largest bookmakers, thus making them the most preferred and popular. The British odds are normally written with a hyphen or slash between the numbers. The numerators and denominators of the betting odds are always given in integers. Furthermore, a type of fractional odds is also known as Hong Kong odds which are quite exchangeable. This odd is quite popular and used in countries like Britain and Ireland.
The Decimal Odds
The decimal odds or the European odds are quite famous within the countries of Australia, Canada, and others. These decimal odds are quite easy to learn and understand. These odds represent the total amount the player wins for every $1 that is wagered and the number instead of showing the profits, reflects the total payout. The decimal odds can be easily calculated by multiplying the Stake with the Decimal odd Number. This odd is also famous in the betting exchanges as it is easy to learn and understand and also they reflect the inverse of the probability of any outcome. The decimal odds are also known among the users with the name of European odds or digital odds.
The Money Line Odds
The money line or the American odds is quite popular among the players of the United States. In this odd, the favorites are represented with a minus sign in front of the number, which indicates the amount of money needed to stake to win an amount of $100. While, the odds for the less competitive ones are presented with a plus symbol, which indicates the total amount of money won for the staked amount of $100. As the probability of winning for the favorite increases, the distinction between the both, that is, odds of favorite and less competitive increases.
When the probability of occurrence of the event is 100% then it is called wholesale odds. These are the real odds that are displayed without any bookmaker’s profit. This index is the index of all the prices in the probabilistic market.
The sports betting odds are the basics the players should learn before the start of gambling and after that, they can go for deeper knowledge about the other aspects. And this can happen only after learning about the betting odds properly.