Decoding the Different Odds Formats Used by Betting Sites

Betting can be an exciting and profitable hobby, but it is important to understand how the different odds formats used by betting sites work. We will take a closer look at some of the most common formats and explain how you can use them to your advantage. With this knowledge, you’ll be able to make informed decisions about which bets are likely to yield higher returns and decide where your money should go. Betika login in Kenya provides online users with a range of betting alternatives, like casino slots and habitual wagering on athletic activities.  So let’s get started!

 

What Are Odds?

Odds are essentially a numerical representation of the likelihood or probability of an event occurring. They are used to determine the payout for successful bets, as well as to show which side is more likely to win. Odds come in different formats depending on which type of bet you’re making, such as point spread bets, moneyline bets, and futures bet. We will now take a look at each format and how they differ from each other.

 

Decimal Odds (also known as European style)

Decimal odds (sometimes referred to as European style) are one of the most common types of odds format used by online bookmakers around the world. They represent the total amount you would win if you were successful in your bet. For example, if a team had decimal odds of 2.00 then you would win double what you wagered on that team if they were successful in their match-up.

 

To calculate your total return with decimal odds you simply multiply your stake with the given decimal number:

(Stake x Decimal Odds) = Total Return

For example: If you placed a £10 bet at 2.00 (decimal odds), then your total return would be £20 ((£10 x 2) = £20).

  

Fractional Odds (also known as UK or British style) 

Fractional odds (sometimes referred to as UK or British style) are another popular type of odd format used by bookmakers around the world – especially those based in Britain and Ireland – and are also commonly found on race tracks throughout Europe. Unlike decimal odds, fractional odds tell us how much we would win relative to our original stake rather than giving us our total return figure directly like decimal odds do. For example, if a team had fractional odd of 5/1 then it means that for every Pound that we wager we will receive 5 Pounds plus our original stake back should our selected team win their match-up. This can be calculated using the following equation: 

 

((Odds / 1) x Stake) + Stake = Total Return 

 

For example: If you placed a £10 bet at 5/1 (fractional odds), then your total return would be £60 (((5/1 / 1 ) x 10 ) + 10 = 60). 

 

American Odds  

 

American Odds are sometimes also called Moneyline or US styleodds and unlike both fractional and decimal odd formats which use whole numbers only; American Odds employ both positive and negative numbers to represent various probabilities or outcomes associated with matches.. Positive numbers indicate how much a successful bettor will earn based upon their initial stake while negative numbers indicate how much must be staked in order get a Payback figure of £100 regardless whether their chosen outcome wins or loses.. Negative American Odd values typically start with either 200 or 100 depending on where they came from while positive values usually end with 00/50 respectively.. For example; if Team A has an American Moneyline value set at -200 then it means that for every Pound staked one receive two pounds back plus his initial stake should Team A go onto win its match-up whereas if Team B had an American Moneyline value set at +200 then it means one needs to stake two pounds in order receive back three pounds plus his initial stake regardless whether his chosen outcome wins or loses.. The equation below shows how one can calculate his potential returns using an American Moneyline Value: 

 

((Stake x (Odds / 100)) + Stake = Total Return 

 

For example: If you placed a £10 bet at -200 (American Moneyline), then your total return would be £30 (((10 x (-200 / 100)) + 10 = 30).  

          

Understanding The Different Types Of Odd Format Is Key To Making Successful Sports Bets 

 

Knowing which type of odd format is being used before placing any bets is essential when getting into sports betting as all three have different ways calculating payouts from successful wagers which could make all difference between winning big or losing miserably.. Understanding these forms correctly could give any punter an advantage when deciding on what teams to place their money on so make sure take time familiarise yourself with all three forms before committing any cash into gambling activities..