How to Play with Betting Odds?

 

How to Play with Betting Odds?
Whether sports or casino betting, you must understand the odds in various marketplace. Placing a bet without knowledge of different odds and how odds work in soccer betting or casinos could lead to severe losses.

The three main types of betting odds include:

  • America odds
  • Decimal odds
  • Fractional odds
These three represent a simple way to present the same thing differently. There is no difference in terms of payouts. It also allows for easy conversion of odds.

Calculating fractional odds

Fractional odds are also known as British, traditional, or UK odds. They are pretty popular among the Irish and British bookies. When you see a hyphen (-) or slash (/), e.g., 6-1 or 6/1, pronounced as ‘six-to-one, it is a typical example of fractional odds.

They are used by some of the world’s largest bookmakers. It also makes them the most preferred odds across the globe.

For instance, a 5/1 (five to one) would mean you’ll win $5 against every $1 you will wager in addition to receiving your dollar back.

Therefore, the total (potential) return on stake can be stated as:

Total Payout = [Stake x (Numerator/Denominator)] + Stake

Where numerator/denominator is the fractional odd, e.g., 28/6.

Decimal odds explained

Continental, digital, European, and Decimal odds are popular among sports bookmarkers in Canada, New Zealand, Australia, Africa, and Europe. These are a bit easier to understand and work with. The underdogs and favorites can be spotted instantaneously by looking at the numbers.

The decimal odds numbers represent the amount one wins for every $1. The total (potential) return on a stake can be calculated as:

Total Payout = Stake x Decimal odd number

The American (Moneyline) Odds Explained

American odds are the most popular ones in the US. They are also known as the Moneyline odds or US odds. In this case, the odds for the favorites are accompanied by a minus (-) sign. It indicated the amount you need to stake to win $100. A positive (+) sign accompanies the odds for the underdogs. It indicates the amount won for every $100.

If you want to learn more about the betting odds in Ghana, you can contact Bet of Africa today!
Location: Ghana

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