Betting Odds : What Does It Mean
.guess you are hearing of betting odds whether nairabet odds, merrybet odds, bet365 odds, 1960bet odds
or any other home and foreign online betting site but don't know what it means or how to calculate it.so many punters will say the bigger the betting odds the more your profit from your stake.yes, they are right.the beginners punters usually get confused as to what betting odds means and why punters lay too much emphasis on it.you too will get to that stage where you will start looking for the biggest odds to stake your bet on.so today, i am going to explain what betting odds means and how to calculate it
What is betting odds
is the total point attached to a particular game which serve as your point profit.this means that the odds have a relationship with your stake which determines the profit you will make if your bet end up a winner.
Every stake you make on a given game have an odds that is attached to the game which when calculated, your profit will be determined.
Lets say a manchester united and leads united have a match and manchester is given 1.50 odds to win while leads united is given 3.5 odds to win.
From the above odds, you will noticed that manchester is given smaller odds which is 1.5 while leads is given higher odds which is 3.5 .
This is because the sport betting site feels that manchester is stronger than leads which is why they were given smaller odds because they assume they have more chances of winning the game.
So any one who selected manchester to win and is the punter stake like 500 on it.
The calculation will 500X1.50 which will give you a result of 750.
750 will be the amount you will get as returns if manchester wins while on the other hand, if you selected lead united to win with an odds of 3.50 and you stake 500
the calculation will be 500X3.50 which will give you a result of 1750
if leads united wins the game, your returns will be 1750.
You can see, the returns from leads united is higher than that of manchester united because they believe leads united does not have more chances of winning.
So therefore, the betting odds serve as a yard stick provided by online betting bookies to determine the returns to be made on any games.
It also serves as yard stick for punters to make analysis since smaller odds will assume the team that is given such may have more chances of winning than the team that is given higher odds.
Note that, odds is not only attached to team to win, they are attached to different type of bet types like home win, draw, away win, handicap, under/over, corner kick, first team to score, double chance etc.
So you will have to make your choice with the selections.
Since many punters know that smaller odds may not yield them a fortune in the short run, they tend to accumulate games with smaller odds and stake their bet.
So the more the accumulation, the more your odds increase and the more your chances of winning reduces since all games must end up a winner.
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