most of the new beginners to online betting
mostly ask the question on what betting odds mean.when i first stated online betting, i also asked the same question because lots of punters using either nairabet, merrybet, bet365 or any other betting website does lay emphasis on the odds of any match that is available for the day.when two or more punters are discussing about online betting and the games that are available for the day, you will notice that when one of them have a sure banker game and also made it known to his fellow punter, the next question that the fellow punters would ask is what is the odds.you can see that betting odds is very important when it comes to online betting.betting odds is simply a fraction that represent the value of returns a punter would earn from when they inventually won a game.the odds serve as a yardstick at which one will use to decide if they should place bet on a possible chances that Mr A with low odds would win or Mr B with high odds would win, so depending on your decission.still don't understand, then i will explain what betting odds means in a laymans language
what is betting odds
betting odds is a fraction put in place by sportmaker (bookies) to serve as a yardstick that determines the amount a punter would get as returns when they place bet on their favorite team be it soccer, casino, horse race, bingo, tennis etc.
with the odds on a game, you will decide whether placing bet on that game is worth the amount you want to stake because it determine the returns you will make if the game ends in your favour.
you must have come across betting odds either from online betting site like nairabet, merrybet, betnaija, nairastake, bet365, planetofbet etc showing either in decimal or other format e.g 1.50 , 10/5, +120, -120 etc and keep wondering how come these different types of odds.
regardless of the type of odds you see on any betting website, you will still get the same profit when converting them from one format to the other because they sportmaker (bookmarker) have already done the calculation to reflect the result on any odds type you choose.the most common odds type used by most online betting website is the decimal odds ( 1.5 or any ).
the other types include the european odds ( 10/1 or any ), Unite State Odds ( +120 0r -120 or any ).
i am going to talk more on the decimal odds type because that is what most punters makes use of.
when you visit any sport betting website and have seen a game you wish to place bet on, you will see a decimal odds like 1.50 given to home team and 5.0 given to away team, it may be the other way round but which ever is the case, any team you choose, the odds attached to that team will determine your return/profit.
most people will go for the home team which has an odds of 1.50 because the odd is smaller than the away team which will give you a return/profit base on the amount you stake.
if for instance you want to stake 100 bucks on the home team with 1.50 odds, your profit will be 100 X odds 1.50 = 150
that means your profit will be 50 buck if you stake 100 bucks but if you were to stake your bet on the away team with higher odds of 5.0, then 100 X 5.0 = 500.your profit/returns will be 500, so when you deduct your stake of 100 bucks, it will then be 400 which is your pure profit.
so you can see that the odds determine your profit and also gives you a yard stick of which team or bet type you should pick.
most punters mostly pick teams with the smaller odds because the chance of them winning the other team with higher odds is high.but this is not always true at times.
online betting is a game of luck, favour because most at times the team with the higher odds ends up winning the team with smaller odds.
online betting is unpredictable but there is need to reduce the risk attached.
you may see a prediction online but at times the prediction may not favour you, that is how online betting, gambling works.
in a situation where you have picked over five team want to place bet on accumulation, then you will have to multiply the odds with the rest of the other odds,then multiply it with yur stake.
for example lets say you picked five team with 1.50 odds each, then you will have to calculate your odds like this 1.50X1.50X1.50X1.50X1.50 = 7.59375.
you will then multiply the total odds with the amount you wish to stake to determine your profit/returns.
if you wish to stake 100 bucks, then it will be 7.59375 X 100 = 759.375
.759.375 - your 100 bucks = 659.375 , which is your pure profit
please do not calculate multiple odds for accumulation bet type base on the number, for instance, if you have picked five games with 1.50 odds, you should not calculate it like 1.50 X 5.
it will give you false odds and profit, the best practical way to calculate it is to multiply all the odds one by one to get your total odds.hope this post is helpful
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Thanks for the explanationReplyDelete