If you are new to sports gambling, the first time you log into an online gambling website, you might see different types of ways to show odds. This method of offering odds will be different from one country to another. However, in American sportsbooks, the standard way to show the odds is by using the plus (+) and minus (-) signs. Maybe the first time you encounter them, they are a little bit strange, but for professional gamblers, these signs reveal lots of information. This article will tell you all about sport betting odds, and then we will help you increase your winning chances in sportsbooks.
How many ways can we show the odds?
We have three main ways to show the odds in sportsbooks; Fractional odds, Decimal odds, and American odds. We use a slash or a Hyphen to show the fractional odds, such as 4/1 or even 4-1. But how do Fractional Odds work? Fractional or British odds were one of the oldest ways to show the tips and first was used by Irish people. Since most bookmakers use this method, it is considered the most used odds in the world. Consider a bookmaker will give the odds of 4/1 for a Sunday soccer match; if the gambler accepts the offer and places his bet on the game, he has to deposit $1. In case the game finishes in favor of the wagerer, he will win $4 plus $1, which is his initial money. This calculation indicates that if the gambler bet $10 at the end of the match, if he wins his wager, he will have $50 (this includes his own initial money too.)
The second way to show the odds is by using decimal numbers; in this way, gamblers have to calculate the exact amount of their winning by themselves; how? Let me show you. Decimal Odds, or as it is called European odds, digital odds, or continental odds, are very popular in Europe. Wagers can determine the underdog and favorite by the first look; in this bet, the favorite will have a higher number, and instead, the underdog would have a lower number.
The decimal odds number shows how much the wager wins for each one dollar they bet. In this betting, the indicated number shows the total payout of the house combined with the initial bet. In this odds, if a gambler bets $100 on 4,98 odds in case he wins the bet, he will have the total amount of $498.
American odds or Moneyline
Over the past few years, the most famous method to show the betting odds in the USA is using plus and minus signs, which we call American odds or, in some states, Moneyline. In this method, in order to show the underdog, we use the plus (+) while the odds for the favorite will be shown by a minus (-). But what are really these two signs? To explain this critical point, we are going to use an example; when we enter into a sportsbook, we see there is a game between La. Lakers and Miami Heats, the last three games was dominated by the Lakers, so they are the favorite to win the game. The sportsbooks bet odds are as follow;
La. Lakers -170
Miami Hears +170
Here the bookmaker has tipped +170 for Miami, which means that the bookie believes the chance of winning for Miami is much lower than Lakers. So if the wagers bet $100 on Miami, in case they win the game, the house should pay $100 (the initial bet) plus $170 (the winning odd for the game) to the gambler.
The case for those who bet on La Lakers is pretty much different; La Lakers is considered the favorite, which means, according to the bookmaker, the La Lakers have a higher chance of winning the match. If the gambler wants to win $100, he has to pay $170. In case the Lakers beat Miami, the house will pay $170 ( the initial money) plus $100 (the profit won.)
The Bottom Line
Now that you know the signs of odds, it is time to learn how to put this knowledge into action. With American odds, you can bet on more than just Moneybet, but since Moneybet is the most famous one, people think this is their only possible option. We recommend that our followers pick up a good sportsbooks website and start betting on their desired sport.