When it comes to sports betting odds, it is very important to know how they work. There are three major types of sports betting odds, and the online sportsbook will display the odds differently based on the sport and its location. To be an online bettor, you need to know how to read all the types of odds.
So let us discuss the three odds at first –
Fractional Odds – Fractional odds or UK odds are also known as traditional odds. It is more common in horse racing. This type of bet is represented by using a ‘/’ for example 10/1. It means that if you win you will get $10 per $1 you wager. In addition to this in the total payout, you will also get the amount that you wagered.
Decimal Odds – This type of odds is common in Europe, Canada, and Australia. It is considered one of the most simple types of odds. We can find many bookies offering you decimal odds. It is observed that the winner will get the same figure that is quoted. Take an example where the sportsbook offers 29/30 odds that are 0.97 in decimal, then the wager will get $1.97 for betting $1, i.e., $0.97 is the profit.
American Odds – the most famous odds in the United States that are commonly used. It is also popular all over the world as Moneyline odds. The odds are accompanied by a “-” sign. If we consider the winning amount as $1000, then the amount that you need to stake to win will be represented with a negative sign. For the underdogs, it is denoted with the “+” sign. It will show the winning amount of $1000.
Now that you know the different types of odds and how to read them, let us discuss the quick tips that you can follow for online sports betting:
- There are many popular sports for online betting like soccer, basketball, horse racing, etc. so the rules are different for every sport. Also, the terms and conditions depend on the Before you begin, please read all the rules, and terms and conditions.
- Go for bookies who give you the highest bid. Also, see to it whether there is any hidden cost involved or not.
- For online sportsbooks, go for the ones that have several payment options available.
- The stake is that much money that you can bear to lose. Remember at the beginning you may lose a few games and it is very normal.
- Different better requires different amounts of time to learn betting so take your time to understand the game.
- You do not have to bet on every match, play the odds for the matches and league that you follow.
- Look for online casinos and sportsbooks that are legally certified. There will be many casinos and sportsbooks that will offer you many gifts and discounts to attract you but you should not fall for them. Know about the company before you bid.
For every game, you play, try to get the details first. It will ensure the safety of your money. Losing games is okay; do not be disheartened. Always play the stake like a small business!