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If someone rolls a dice, there are six possible outcomes. Whenever you see two numbers separated by a trailing slash, i. From this, you can calculate how likely a given event is to happen with a calculation. Betting odds allow you to calculate how much money you will win if you make a bet. Quite simply, for every value of B that you bet, you will win A, plus the return of your stake. They are an alternative to seeing betting odds in the fraction format, and in our opinion, are easier to work out.
Traditionally, fractional odds have been used in the UK, especially at racecourses and on the high street. There are two key differences. Generally, decimal odds are easier to understand. Based on this, there has a movement to attract more people to horse racing by making it more accessible to the average punter. Ten years ago, if you were going to Cheltenham, all the odds would be displayed as fractional odds.
The second difference between the formats is that fractional odds only represent winnings, and do not include the returned stake compared to decimals which do include the stake. The transition from fractional odds to decimals largely kicked off with the growing popularity of the betting exchanges such Betfair.
These are hard to compute for the punter and are not a great way of showing betting odds explained. You may find that your favourite online betting site presents the odds exactly how you likely them to be. But sometimes you might need to convert them to understand. Our odds converter tool will allow you see odds in whatever format you like.
Betting odds represent the probability of an event to happen and therefore enable you to work out how much money you will win if your bet wins. Hopefully, that is betting odds explained. You should now have the knowledge to read betting odds, understand how likely it is to happen, and how much you stand to win.
When you are betting on the moneyline, you are betting on a team winning a game outright. The odds attached to each team indicate their likelihood of actually winning the game. The Patriots are favored in the previous example, so they have the more favorable moneyline odds. You do not need a point spread in order to tell which team is favored. It is possible for both teams to have a negative symbol next to them.
This means neither team is heavily favored, but more often than not one team will have slightly better odds. Still, you are obviously betting on which team you think will win if you are putting money on the moneyline.
If you see a moneyline of , it is the equivalent of 1-to-4 odds. With a spread bet, you are largely gambling on margin of victory for one team. If you think a favored team has an excellent chance of winning a game by a certain amount or more, you place that bet. On the flip side, if you think an underdog has a good shot at winning or at least keeping it close, you can take that chance.
With fixed odds, nothing about the final score matters except for which team winds up winning. The odds are on nothing except for the outcome of the game. If you place a bet on them winning and they win, then you win, as well. You determine how much you want to bet, and you know that if you pick the correct outcome, you will win some cash regardless of point differential.
Unless you happen to place a bet on a sport that can see a tied result like soccer , you are also assured of an outcome. Either you win or you lose, there is no in-between. Taking the underdog on a moneyline bet will always be the more appealing option from a financial perspective. Upsets happen all the time in sports, and obviously the payout is far greater if you pick the underdog and win than if you pick the favorite and win.
Clearly, you need to pick your spots here. Still, there is a reason gambling is difficult.