Guide to reading Sports Betting Odds: Betting Market Explained

 


A betting market is one of the specific categories or types of the bet with the odds related to each. If you are new to the world of sports betting, you’ll need to understand the betting market first. It would help if you familiarized yourself with the different betting odds as quickly as possible before you start to place bets. One reason you need to understand the sports betting market is to avoid losses.

The sports market can be pretty intimidating to first-time bettors, and you may ask, ‘how do betting odds work?’

Bookmakers offer a large amount of betting options across different kinds of competitions, tournaments, or events.

Meaning of betting odds

A betting odd indicates the probability of an event and the return you could accumulate if you wager the outcomes.

Different odds and their conversion

Irrespective of the platform you are on, the sports bookmarkers use to display betting odds. There are three different formats to display the odds:

Decimal odds

The decimal odds means the following equation:

(numerator/denominator) + 1 = decimal odds

(11/4) + 1 = 3.75

American odds

Convert fraction to decimal x 100 = American odds

(11/4) x 100 = 2.75 x 100 = 275

Fractional to America:

Fractional

(demical odds-1) and round to the nearest integer = fractional odds

 (3.75 – 1 = 2.75) = 2.75 / 1 or 11/4

American

(decimal – 1) x 100 = American odds

(3.75 – 1) x 100 = 275

However, different formats do not mean different odds; it is just a way to represent the odds in the market.

Football betting markets

The primary football betting market is the match’s outcome with the betting odds on the draw or win. Other football market odds are handicap, goal scorers, total goals scores, correct score, winning margins, and halftime score.

Also, bookmakers sometimes offer particular betting markets for high-profile matches. You may also find odds on who to win the league at the start of a season.

Using betting markets

The best way to use betting markets is to decide how you think the match will go and identify the betting market. You can check if there is a value in the market and select the available odds.

You may select the sport you prefer to bet on and choose from the competition lists or tournaments.

While gambling odds vary between sports betting sites, you must know about the betting market, how to start betting and find the best odds.

You can contact Bet of Africa for more betting tips.
Location: Ghana

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