Betting Odds Explained
American Odds — American Odds would be the default odds format at most US friendly betting sites in addition to Nevada sports books. Here odds are expressed as either a negative or a positive amount. When positive the odds represent how much a participant will gain on a successful $100.00 bet. So as an example if the odds are +180 a successful $100 wager will yield $280 (the $100 bet + $180.00 win). When the odds are negative they represent how much a bettor must bet to win $100. Therefore $150 staked at -150 returns $250.00 (the $150 stake + $100 win).
Decimal Opportunities — Decimal Odds, also known as European Odds, are employed in most European countries and therefore are the default choice of many Asian bookies as well. This is the simplest odds format to understand as the chances reflect just how much a 1 unit bet returns. For example a $1 bet at odds 1.91 returns $1.91. This return includes both your stake plus benefit; to compute how much your return will probably be simply multiple your bet from the given odds.
Opportunities — Fractional Odds are used in Ireland and the United Kingdom. Here the first number is the sum and the next number is your stake. So for examples 4/1 is stake 1 to win 4, and 10/11 is bet 11 to win 10. To compute how much a winning bet will benefit, convert the percentage to a decimal and multiply it from the stake. For example 3/2=1.5, so, if wagering at 3/2 a prosperous bet will return 1.5 times your stake in winnings and will also return your stake.
Implied Probability — Implied Probability is how often a bet must triumph to average break even. This is calculated as risk/return, so such as +200 in American format (3.00 European) is risk $100 to win $200 so a winning wager returns $300 ($100 stake + $200 win). Hence the implied probability of +200 is $100/$300= 0.3333, that is 33.33 percent. Because of this you should only bet at +200 if you feel the probability of winning is higher than 33.33 percent.
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