Multiply your bet by the top number, then divide the figure by the bottom number. As such, a $10 bet at 5/2 odds is (10×5) / 2, which pays out at $25. A $10 bet at ⅖ odds is (10×2), which pays out $4.
How can I get sure betting odds?
Fractional odds refer only to the profit you’ll make on your bet. Multiply your wager by the figures above and add the product on top of your original wager to get the final returns. Another is to multiply your stake by the first number, then divide it by the second number. This is more helpful for complicated numbers like 9/4.
How to get sure betting odds?
Dec 04, 2021 · The equation you have to use for calculating decimal odds is: (1/ decimal odds) * 100 = implied probability Let’s use an example to help get a better understanding. Player A has decimal odds of 4.50, fractional odds of 8/2, moneyline odds of …
How to read betting odds correctly?
Jan 29, 2022 · The odds for favorites are accompanied by a minus (-) sign and indicate the amount you need to stake to win $100. The odds for underdogs, on the other hand, are accompanied by a positive (+) sign…
How to calculate betting odds and payoffs?
You can easily substitute the $100 bet for a $10 bet by moving the decimal place over one spot, showing us that you would need to wager $14 in order to win $10 in profits. Examples: A listed odd with a + sign in front of it, such as the +120 in our example above, shows us how much money you would win on a $100 bet.
How Fractional Odds Work
Fractional odds (aka British odds, UK odds, or traditional odds) are popular among British and Irish bookies. These are typically written with a “slash (/)” or a “hyphen (-),” e.g. 6/1 or 6-1 and announced as “six-to-one.” Fractional odds are used by some of the world’s largest bookmakers, making them the most preferred odds across the globe.
How Decimal Odds Work
Decimal odds (aka European odds, digital odds, or continental odds) are popular in continental Europe, Australia, New Zealand, and Canada. These are a bit easier to understand and work with. The favorites and underdogs can be spotted instantaneously by looking at the numbers.
How American (Moneyline) Odds Work
American odds (aka moneyline odds or US odds) are popular in the United States. The odds for favorites are accompanied by a minus (-) sign, indicating the amount you need to stake to win $100.
The Bottom Line
If you are planning to enter the betting or the gambling world, it is important to be able to understand and interpret all types of odds well. Once you have mastered the three popular types of odds (fractional, decimal, and American), you can move towards a more detailed read on this topic and find out how the house always wins.
Sports Betting Odds Explained
Many people don’t know how to read or calculate sports betting odds, so below we have done our best on explaining how betting odds work. The most common type of sports betting odds used in North America are the American style odds which we explain below.
American Style Sports Betting Odds
Most online sportsbooks will list their odds in what is called “American Odds”. There are a couple different versions of sports betting odds, but these American Odds are the most common odds used. Reading and understanding sports betting odds can bet a little confusing to beginners, so we have provided an example below using two NFL football teams:
Decimal Style Sports Betting Odds
Decimal style odds are used mostly in Europe, and are pretty easy to understand. To calculate the decimal style odds all you will need to do is simply multiply the amount you wish to wager by the decimal odds shown and you will get your payout. For example it may look something like this:
Who compiles odds?
Many people associate odds compiling and the pricing up of events as practices carried out solely by bookmakers or the people bookmakers employ to do so – often known as ‘odds compilers’.#N#The bookmaker forms a market by compiling a set of odds and the punter comes along and places their bet.
Why compile our own odds?
If you’re serious about making a success of your punting efforts then compiling your own odds is something you really ought to be doing.
What do you need to price up?
It seems to be a fairly common misconception that compiling your own odds is a highly advanced process and can only be done by those who are blessed with a superior mathematical brain. This is simply not true.
How do you compile your own odds?
Firstly you need to note that all odds should be converted into percentages and then summed for all possible outcomes.
Pricing up a simple football market
Let’s use a simple win/draw/win football market example to put this into practice. We’ll imagine that top four chasing, Tottenham are travelling to face struggling, Newcastle. We’ll start by looking at the relative home and away form of each side.
Pricing up a horse race –
Pricing up a horse race can be a bit trickier than a simple win/draw/win football market. The main reason for this is that there are less tangible statistics in a horse race. You will need to have an expert knowledge of form and be able to consider all the different factors involved in analysing both races and a particular horses’ chance.
The benefits of compiling your own odds
As we can see from both the racing and football examples above, the reason punters would choose to price up events for themselves is that it helps to both identify and exploit value.
Converting Odds to Implied Probabilities
Although odds require seemingly complicated calculations, the concept is easier to understand once you fully grasp the three types of odds and how to convert the numbers into implied probabilities.
Why Does the House Always Win?
The odds on display never reflect the true probability or chance of an event occurring (or not occurring). There is always a profit margin added by the bookmaker in these odds, which means that the payout to the successful punter is always less than what they should have received if the odds had reflected the true chances.
The Bottom Line
A betting opportunity should be considered valuable if the probability assessed for an outcome is higher than the implied probability estimated by the bookmaker. Furthermore, the odds on display never reflect the true probability of an event occurring (or not occurring).
But the bookmakers make huge profits every year?
Yes, they certainly do. Before we can understand how to make money from a bookmaker, we need to understand how their business works and how they make money.
How to Make Money from Sports Betting? 5 Unique Methods
There are a number of different ways to make money from sports betting, each with varying degrees of profitability and difficulty.
Do you remember earlier when we discussed how bookmakers made money by building a profit margin into their odds (vigorish)?
Arbitrage betting, much like value betting is a strategy that involves taking advantage of opportunities that arise when the bookmakers make mistakes with their odds. It doesn’t require any promotions like matched betting does.
Value betting is quite similar to arbitrage betting in a number of ways.
Investing in a Sports Betting Fund
Mercurius Trader is a unique product with an ambitious goal – to turn sports betting into an asset class that anyone can invest in.
Sharp Value Betting
An alternative (or perhaps a complementary strategy) to investing in Mercurius Trader is to do value betting on the sharp bookmakers and betting exchanges, rather than on the soft bookmakers.