Types of Odds You must Learn and Understand in the Betting World

When you are betting on sports, it is vitally important that you know how odds work and at the same time, how you can effectively read lines on sports bet. This is because of the reason that online sportsbook will be displaying the odds differently based on the location and the sport that you are betting on.

Fortunately, there are various betting odds calculator that can be used for free and presenting different odds. By familiarizing yourself with the different odds that’ll be discussed below, you can eventually convert your odd calculation just like what experienced punters do. So if you’re ready, let us kick this off.

American Odds

As what the name implies, this odd is quite popular in the US. It works differently for underdogs and favorites and they are otherwise called as moneyline odds. At the same time, American odds when betting on favorites show how much money you ought to bet to be able to win 100 dollars.

Things will be different though when you bet on the underdog. The positive number shows the amount of money that you can win in the event that you risked your 100 dollars. You might notice that this is the same to Odds-On bets in the UK sports betting market.

Fractional Odds/UK Odds

Fractional odds are basically referred to by different names including:

  • UK odds
  • British odds and;
  • Traditional odds

These odds are frequently used in horse racing. All of these odd quotes are the net total that’ll be paid to the bettor in the event that they win the bet, factoring their stake. A gambler who backs Manchester United on the other hand with odds of 1/5 will be seeing a payout of 1 dollars for every 5 dollars bet which means, he/she will get a total payout of 6 dollars for someone who bets at 5 dollars.

Decimal Odds/European Odds

In Europe, Canada and Australia, this is actually the most popular type of odd. Many other people do think as well that it’s the easiest odd to grasp. Virtually all sportsbooks online will be offering the option to display odds in a decimal format which is called as European odds in United Kingdom.

When a decimal odd is used, the quoted figure is the exact amount that’ll be paid if the bet is a winner. In essence, decimal odds are the same to decimal value of a fractional odd, plus one.

Now remember this, whether you are betting in sports or in online casino like ufabet, it is important that you have a general knowledge and good foundation about odds as this is what would tell whether you’ll win or not.