Of all the things you could spend any extra money you have on, betting is by far the most entertaining. It’s also one of the very few that can give you the chance to win your money back, and then some! There’s a reason why people get addicted to gambling and enjoy it so much, and it’s not just the cash, though that does play a factor. But it’s the rush and excitement that comes with winning that really makes a difference and make it such a thrilling ride. While some people enjoy card games or the slots, it is sports betting that really takes the cake in terms of enjoyment. You not only get to make money quite often, but you also get to watch your favorite teams playing. But what exactly are the odds with you winning in sports betting?
What are sports odds?
As the name implies, sports odds are the chances of you winning, or losing, your bet on a particular team/athlete in a certain sport. While the world of sports betting and odds is huge, there are some basics you need to understand so you could form an idea of what your chances of winning are. For starters, fractional odds are the most common form used, and they basically represents how much your stand is to win versus how much you bet.
To understand that a bit more, let’s say you bet on a certain horse to win, and you wagered $20. When the odds are 5/2, for example, this would tell you how much you stand to win, which is, in this case, $50. The math is pretty simple; you take your bet and divide by the lower number, so it’s is 20/2= $10. Then, you take that and multiply by the upper number, so 10x5= $50, and that is your profit. To make things a bit clearer, let’s say the odds were reversed, so they were 2/5. If you placed the same wager of $20, through the same calculations, 20/5= $4 x 2 = $8, and that is the final profit.
The bookie’s edge
While the math might seem too good to be true, bookies definitely aren’t in it for charity reasons. They always have an edge, and they never lose, even when you win. This is why sports betting is a bit different compared to your average slot online betting system where you simply wager and get the money if you win, without the need for such complex calculations and fractional odds –– there are other forms of odds used in different countries like decimals, for example. So, it’s extremely important to understand odds in sports betting and how they work, so you could find good odds to bet on.
The key to winning here is knowing what you’re betting on, or in other words the sport itself. So, if you’re a football fan, it’d be a good idea to bet on that. Trying your luck with a game you know little of won’t end well, because unlike regular gambling, sports betting requires intimate knowledge of the games and players.
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Amardanan
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