3 Types of Sports Betting Odds – Explained!
May 25, 2022
Odds in sports betting represent the likelihood or chance that a specific result will occur during a given sporting event. The odds set by bookmakers indicate the likelihood of a particular outcome occurring. Most online betting companies allow you to select the type of odds you want to use when placing your bets.
A lack of understanding of betting odds means it’s impossible to locate value on gambling platforms, which is the most important part of sports betting success. There are many types of sports betting odds, and this article explains the most commonly used ones.
1. American Odds (Moneyline)
Most online bookmakers will display their odds in “American Odds” format. American Odds are by far the most often utilized form of sports betting odds. Beginners may find it difficult to read and comprehend sports betting odds. There are two parts to the American Odds: the sign (positive or negative) and the figure that follows the symbol.
Whether or not you win more money than you bet on a certain outcome is shown by a dollar sign to the right of the number. Negative (-) odds indicate a more likely event, while positive (+) odds indicate that the event is less likely to occur.
2. Decimal Odds (European Odds)
For the most part, Europeans use odds expressed in decimal format, which is straightforward to grasp. It’s simple to compute decimal format odds: multiply the sum you want to risk with the decimal odds provided, and you’ll see your payoff.
3. Fractional Odds (UK Odds)
In the UK and the Republic of Ireland, fractional odds are most commonly utilized. However, decimal odds are now becoming incredibly common in these markets. Fractional odds, as the name implies, are determined by fractions. They are a little harder to understand when calculating earnings compared to American and Decimal odds.
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