Understanding how to read and interpret betting odds is very important when it comes to making a winning bet. Knowing how odds work will help you make an informed decision when making a bet. A betting odds comparison is a way to evaluate how likely or unlikely it is for a particular event to happen.
The more likely a result will happen, the less money you receive if it does. Similarly, if the outcome is not likely to happen, then betting on the less likely ones pays better.
Three of the most popular odd types that are used around the world are Fractional, Decimal, and American. Understanding all of them will give you a much wider range of betting sites to choose from and increase your chances of making winning bets. Here’s everything you need to know about reading different odd types.
American sports betting odds have a plus or minus sign next to a number. The negative numbers represent the favorite and the positive numbers are on the underdog.
The numbers on the betting odds show how much you would win if you bet $100.
Fractional odds are formatted with one number over another. Showing odds in fraction format is popular in the United Kingdom, which is why it’s seen most in football betting.
The number on the top of the fraction indicates how many times a bookie believes that the outcome will fail, and the top represents how many times it may succeed. If Germany’s odds of beating Portugal are ½, it means the bookie predicts Germany will beat them two times out of three.
Decimal odds are shown with a whole number followed by a decimal. They are usually used in global sporting events like the Olympics and the PGA tour.
The decimal shows how much profit will be paid for each dollar on a correct bet. The favorite team has a lower number, whereas the underdogs have a higher number.
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It is not only important to be able to understand odds but also bet on sites that provide you with the best ones. Good odds mean more accurate predictions and better potential winnings. If you’re looking for the best betting sites, Betting Sites Ranking provides a list of the world’s best sportsbooks and casinos, so you can choose the best ones and win big. Find out the best sites in your country to start betting today.