There is now a better way to enjoy sports and other major events including video gaming. Sports betting is currently a booming market in the world of betting. Thanks in part to the internet, punters now have easy access to betting on a plethora of sporting events at the comfort of their homes. And with the rise of mobile smartphones, betting can be done virtually anywhere even while you are stuck in the middle of a traffic jam.
About Sports Betting
For those who are new to sports betting (don’t worry in no time you will get accustomed to the betting game and no sooner will you also begin writing your own Sports betting strategy book). this has actually already existed many years ago. It is no secret that our ancient ancestors from thousands of years ago have been enjoying gambling as much as wine. Sports betting is simply predicting the results of a sport event or tournament and placing money (bitcoins are now slowly gaining popularity too) as wager on your bet.
Sports betting is available in almost all forms of major sporting events – professional or amateur – including football, basketball, hockey, baseball, boxing. It is likewise popular in horse racing and greyhound racing. It is also rapidly gaining popularity in video gaming.
The Odds in Sports Betting
Sports betting odds refers to the ratio between the amounts invested by bettors to a wager or bet. In simpler terms, it refers to the chances of a certain outcome in a particular event. Odds are presented in different formats which are either in Decimal Odds or European format, Money line Odds or American format and Fractional Odds or the UK format.
The European Format
The Decimal Odds formats are widely used in the continents of Europe, Australia and Canada. To convert the sport betting odds in decimal format, simply take the chance as a % and divide into 100.
Hence, Odds equals 100% Chance. So, when something has a 25% chance of winning then 100/25= 4.
To calculate your payout utilizing the decimal odds format, just multiply the amount you wish to wager by the decimal odds shown.
Example: US 2.50 versus Brazil 1.55
Let’s say you want to place a $10 bet to US, multiply your wager to the 2.50 odds.
Thus 10×2.50= $25. Your potential payout is $25.
Note: In Decimal Odds Style, the amount you bet is included, so to find your actual profits, you should subtract your wager to your potential payout.
Hence, $25 – $10 = $15. Your potential profit from your payout is $15.
The American Format
US Odds are represented by “+” or “-“ sign. The “+” sign represents the amount you will win for a 100 wager. The “-“ sign represents the amount you have to wager in order to win 100.
The UK Format
The UK format is widely used by the British bookmakers. UK format uses the “/” read as “to”.
For the fractional odds of 5/1. It is like saying for every single time you win there are five times chances you will lose.