How to Read Odds? | Beginners Guide in 2020
Reading odds and understanding them is vital for the bet on sports events. Because the odds will narrate you what will occur in that sports approximate results. You will also get the ideas of how much will be paid out if you win the bet. Sportsbooks display odds severally (depends on sports and the location – you are betting). So it absolute topic to know – How to read odds?
How to Read Odds? | Beginners Guide in 2020
Let’s go for the details.
WHAT ARE ODDS?
First, you need to have the basic knowledge about what are odds before how to read odds?
There are a lot of strange-looking numbers next to team names and player names at sportsbooks. These are the odds, and they come in a variety of forms (American odds, fractional odds, and decimals odds). What they do have in common is that they always indicate two things: the implied probability of the outcome they’re attached to (according to the sportsbook), and how much money you stand to win by betting on that same outcome.
|Hong Kong odds||1.2*|
Each of the odds above represents a 33.33% implied probability, just displayed in a different format.
No matter what type of odds you’re looking at, they all represent the same thing and make absolutely no difference in terms of your payout. Think about it like the imperial (American) measurement system versus the metric system.
HOW DO YOU READ ODDS?
Sports odds come in three formats. American odds are used stateside, while fractional and decimal odds are popular in Canada, the United Kingdom, and Continental Europe.
How to Read Decimal Odds?
Decimal odds are mainly popular in Europe, Australia, and Canada. That’s why it is also indicated as European odds in the UK. Decimal odds are used in almost all online sportsbooks.
Decimal odds are like 1.50, 2.00, 2.50, and so on. The odds show how much you would win for every $1 you bet.
A $100 bet on 2.00 odds would net you a $100 profit. The closer to 1.00 decimal odds is (1.00 would be 100%), the bigger the favorite.
How to Read Fractional Odds?
Fractional odds are also known as British odds, UK odds or Traditional odds. The odds are like 1/1, 2/1, 3/1. Fractional odds represent the ratio of the amount you stand to win (your profit) to your initial bet.
As with decimal odds, the closer to 1 the ratio is, the bigger the favorite, and the smaller the payout.
How to Read American Odds?
By the name, you can understand that the American odds are popular in the United States. These odds work severally for favorites and underdogs. American odds also is known as ‘Moneyline odds’.
Whenever you see three numbers with either a “+” or a “-‘ you know you are dealing with American odds. This number represents either how much you’d win if you placed a $100 bet (if the odds are +) or how much you’d have to bet to win $100 (if the odds are –).
- Underdog (odds that start with +): odds are the amount you would win if you bet 100
- Favourite (odds that start with -): odds are the amount you need to stake to win 100
- if you see +110 odds, that means that you’d win $110 on a $100 bet
- If you see -110 odds, that means you’d have to bet $110 to win $100,
Other conditions Like,
If you see a “+” sign in a two-team game,
- this signifies the underdog, which represents longer odds, a lower probability of winning, and consequently a larger payout.
- If you see a “-” it denotes the favorite.
In the case of two “-” numbers,
- the outcome with odds closer to 0 is the underdog.
How to Read Hong Kong Odds?
Hong Kong Odds are similar to the Decimal Odds. Only difference is the original stake is not included. So, a bet on a match at 2.00 with 100 units would return-
2.00 x 100 (profit of 200) + your 100 stake = 300 total return.
|Hong Kong Odds||Your Stake||Your Profit||Total Return|
How to Read Indonesian Odds?
The Indonesian odds clearly visualizes the inclusive quantity that has to be fixed to win a unit of 1.00. Meanwhile, Odds of 1.00 will notice you doubling the money of yours as you’d win 1 unit for each 1 unit you bet. On the other hand, for the other price, the outcome of the odds could be different. It could be positive or negative for you. There are absolutely no chances of a win-win situation. If the odd is positive, it will show what proportion you’ll win for each 1 unit installed. Hence, the other side that means negative odds show that what proportion you must need to bet in order to win 1 unit.
The simple formula for Indo odds is:
Positive: Stake x Odds = Profit
Negative: Stake / Odds = Profit
Here’s another way to look at it:
|Indonesian Odds||Your Stake||Your Profit||Total Return|
How to Read Malaysian Odds?
Malaysian Odds looks like the same odds with a base unit of 1.00 alternative of the 100.00 in American odds. A favorite backed odds-on at -107 in American odd would translate to 0.93 in Malaysian Odd. In Decimal Odds it would be displayed as 1.93, and 93/100 in Fractional Odds.
|Malaysian Odds||Your Stake||Your Profit||Total Return|
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- At first, you have to choose between the American Odds, Decimal Odds(european), or, Fractional Odds(UK-based).
- Suppose, you have chosen the American odds. Now, please put a number in the box of American odds. For instance, you’ve put +128 in the box of American odds. After that, you’ll see the other odds converts automatically.
- Now, place a stake. The amount you want to bet will be placed in the stake box. Suppose, you want to bet $200. So, place this amount on the stake box.
- After placing the bet amount in the “stake” box, click the “calculate” option right below.
- Then, you’ll find out the winning amount if you win the bet. Moreover, you’ll also see the total amount you’ll get which consists of winning amount and Payout.
- You can press the reset button to begin everything or change the data you input previously.
From the above, You can understand that it is so important to know how to read odds? It will help you to bet safely. Also, you can compare the odds before you bet on the various online sportsbooks.