Did you know that half of the entire planet’s population loves watching soccer?
From soccer to football and everything in between, there are many sports games you can watch and make even more interesting with betting. However, you can lose a significant amount of money if you don’t familiarize yourself with sports betting concepts.
Are you wondering how to make heads or tails of them? Keep reading to learn how sports betting odds work so that you can place more strategic bets and win big.
When it comes to sports betting odds, it’s crucial to realize that there are different odds across games and countries. If you live in the United States, then you’re likely to play with American odds.
Otherwise, known as Moneyline odds, you’ll notice that these odds have plus signs and minus signs. The baseline is always $100 even. So if you see odds that say +500, then you can expect to win $500 in addition to your original $100.
However, a -500 means that you must place a bet of $500 if you want a chance at winning $100 plus your original $500.
In sports betting terms, decimal odds are often considered the simplest type of odds to figure out. They’re most common in European countries but it’s possible to encounter them elsewhere.
Let’s say you get decimal odds of 1.50. If you place a $30 bet on this theoretical player, you can expect to win $45. The result of this calculation comes from multiplying your bet with the odds: 30 x 1.50 = 45.
Don’t forget that the player who has the lowest odds numbers in these instances is considered the favored player.
As you can probably guess from the name, fractional odds use fractions instead of decimals. Otherwise, known as British odds, you’re most likely to see them in horse racing or European football.
To decipher any fractional odds, it’s crucial to know that the first number in the fraction relates to what you could win while the second number relates to what you would need to bet.
Take the odds of 200/100, for example. A winning bet on this would result in a payout of $300 with $100 of that being your original payment. Keep in mind that the favored player will have a second number that’s larger than the first.
Have you heard of over-under betting? If not, you can learn more on dimers.com.
Now You Know How Sports Betting Odds Work
Now that you’ve learned all about how sports betting odds work, you can place more confident bets and maybe even win a bigger pot of gold than you’ve ever had before. Whether you share your tips and tricks with your friends is totally up to you.
There are always new gambling strategies you can pick up on. You can keep up on the latest news about that topic and many others by checking back in with our blog as often as you can. Include us on your bookmark bar so you can visit with a single click.