Understanding the Odds - A Beginner’s Guide to Sports Betting

Sports betting has become immensely popular in recent times. The credit goes to the latest technologies and enhanced internet availability. And with online betting, we can see several online platforms like vwinvn allow people to experience sports betting in their comfort.

If you are also a beginner, you may not be aware of many terms used in betting like odds, chalk, cover, bankroll, parlay, bad beat, etc. But, don’t worry, you will learn as you proceed with the game. It’s not that difficult. One important term that you should know about is the Odds. So, here we will explain the odds of sports betting.

Odds basically refer to the probability of your desired outcomes in any sports event. Basic knowledge of odds can help you understand the bet size and find out the value in a betting line.

Odds are mainly presented in three forms but all are similar and present the same payouts. Wagers should be able to read all the forms.

The three forms of odds include- Decimal, Fractional, and Money Line

Decimal or the European odds

These are the easiest ones to understand. They represent the amount that a wager can win on placing every $1 bet. That means it tells the total amount you can take back home i.e. profit + your stake money.

For example, the odds of Team A and Team B are 2.5 and 4.0, respectively. If you stake $10 on team A, you will get 2.510= $25 on winning. And if you stake $10 on team B, you’ll get 4.010= $40 on winning.

In both cases, your profit will be $15 and $30 respectively.

Fractional or the British Odds

Fractional odds are represented in the form of a fraction or hyphen. These are also known as the traditional odds. It tells the profit on any bet relative to the stake. For example, if a fractional listing is 5/1, you will win a profit of $5 on every $1 you bet. And the total amount you get back will be $6 i.e. profit and stake amount total. Fractional odds are most popular in the U.K.

Money Line or the American Odds

Moneyline odds are the most popular in America. The -ve and +ve signs represent these. So, there are two options-

Favorites- It means the amount of money a wager stakes to win $100. Favorites odds are represented with a -ve sign. If team A has odds of -125, you will have to bet $125 to win $100.

Underdogs- It means the amount of money any wager wins on a stake is $100. Underdogs odds are represented with a +ve sign. For example, if Team B has odds of +130; you will win $130 on your stake of $100.

To understand the bet you place, you must know about all three odds. However, all of these are almost similar. Only the way of representing them is a bit different. Better knowledge of odds helps stake your money smartly.