Betting odds are essential for everyone betting to predict

Beginning to practice a game, it is really important to understand the basic rules we will move on. This is a thought that is also used to a great extent in betting. Before a player decides to make a bet, he / she must master the process basics, and one of the basics is to have a complete and confirmed database forbetting odds. Without the necessary competencies forbetting odds, the players will not be able to understand what the likely outcome of the event might be and what its alleged revenue will be – always prerequisites that would make it really more effective and successful.

Betting odds – variants

There are three widely popular varieties of betting odds – American, Decimal and Partial. Each of them betting odds is very sometimes referring to North American coefficients are known mostly in the United States, and the decimals are definitely popular throughout Europe. Below we have gathered detailed information on the different types of odds.

Betting odds according to the American model – turning them into probabilities

When converting US betting odds into implicit probability, the participant in question needs to understand that the methods are different for negative and positive betting odds.

Betting odds in their fractional variety

Fractional betting odds are definitely popular in the UK and depict the net worth the player will win when making a winning bet. For example, if the designated bettor wishes to bet at £ 50 for fractional stakes of 10 to 1, resulting in a win, he will have his specific bet of £ 500. This betting odds variant has a chance to be met in a form known as the chances of Hong Kong. It also shows the net return of the bettor, but the performance is not a fraction but a decimal.

Betting odds in a decimal model – how exactly can they be transformed into probabilities?

For the transformation of decimal betting odds into probabilities, the player should work by the appropriate formula:

1 / odd decimal odds * 100. For example, at 1.46 bets, odd probability will be 1 / 1.46 or 68.49%.

Betting odds – Decimal types of betting odds

Decimal betting odds are known throughout Europe, Australia, New Zealand and Canada, but almost every bookmaker can also set them as an option for customers. Decimal betting odds are, in essence, the funds of the payout of a similar bet the participant will receive in addition to the base bet. In fact, they represent the decimal value of the specified betting odds plus 1.

See more about Betting Odds 2 — See more about Betting Odds

Betting odds by fractional model – turn them into probabilities

To recreate the odd fractional bet in probability, the formula is this denominator / numerator * 100. If we take a 7/3 fractional bet, the chances will be:

3/3 =

3/10 =

0.33 * 100 = 33.33% assumed probability.

Betting odds – a set bet on values

Imagining that the person in question has a lot of knowledge about betting odds, risk and probabilities, he would have created a betting concept that would focus on finding wagering worth. Let's see an example betting option.

Specifically in this case, three bettors will bet for the same sports match against the same bookmaker – Chelsea vs. Manchester United. He gives them the corresponding betting odds – to win Chelsea – 2.33 or 42.92%, to win Manchester United – 3.67 or an assumed probability of 27.25%, and for a tie – 3 or 33.33%. For example, each participant will try to have a gross profit of £ 200.

Betting value plays an important role for any player who perceives betting as an investment instead of gambling.

More about Betting Odds 3 — More about Betting Odds

Betting odds – what is their idea?

In order to be clear on the essence of betting odds, you must necessarily enter the specified probability system. The most widely known example of probability is the mobile dice. You have 6 sides and the options to hit "five" is 1 / 6th. That is, 100% of all countries are divided into 6 for each country of the dice – your capabilities are specifically 16.66%.

A similar example might be given by throwing coins – when the probabilities of "cushions" or "tours" are 50%. Betting odds are very similar to this – they portray users with the likely probability of finishing a certain event. Becoming a specialized player requires a wide range of qualities and the main thing is to have a thorough understanding of the different betting odds.

Betting odds – Choose your bettingmetrics strategy!

In addition to the Betting Metrics Betting Method, you can also find ideal Betting Metrics, tracking betting tool, odds calculator, and other useful widgets.

bet tracker
track my bet
bet calculator
betting tips
tipster
betting site
bankroll
betting hitosry
betting spreadsheet