Sports betting odds are important part at the gambling. However, many beginners still don’t get why it is so important. Actually, betting isn’t possible without the odds. If you are new on gambling, it will be better for you to understand first why we need to know the sports betting odds. Here are some tips given by QQ188asia.com Best Online Sports Bookie Website & Asia Top Free Bets Bookmaker bettors. Check out the following list.
Why We Need to Know the Sports Betting Odds
- Odds Tell You How Likely an Event Will Happen
In here, we are talking about the probability of an even. Odds allow you to predict in calculation how likely an event is going to happen. Like when rolling a dice, if you bet for the roller for “five”, you have 16.67% probability to win. It works the same thing with sports betting odds. It tells you exactly the percentage of probability your bet will win. Of course, bigger percentage shows bigger opportunities to win. In sports betting, the odds are often expressed in fractional and decimal. Let’s take an example.
1/4 is a fractional odd. It shows pretty good chance of winning. How so? You need to calculate it. 1/4 odd is calculated: 4/(4+1) = 0.80. It means you have 80% chance of the bet to actually happen and you win. The same principal happens for 9/1 odd. It is calculated as: 1/(9+1) = 0.10. It means you have 10% chance of winning the bet. Of course, comparing to the previous adds, this odd isn’t really appealing and bettor won’t likely to bet on this odd if they have better options. In sum, betting odds show you how much chance of probability your bet will happen in percentage.
- Odds Tell You How Much Money You Can Win
The same format of odd will also tell you on how much money you actually can win if you place the bet. Let us use the same example to show how it works and how to calculate the winning. The system is simple. Let’s call the first number in the odd as A, and the second number in the odd as B. In 1/4 odd, the A is 1 and the B is 4. For every B value you bet, you can win A. Now, let’s translate it into numbers. In 1/4 odd, every $4 you bet, you will $1. Consistent to the previous explanation, this isn’t a very appealing odd.
Let’s try other numbers.
1/1 odd means for each $1 you bet you can win $1
4/1 odd means for each $1 you bet you can win $4
9/1 odd means for each $1 you bet you can win $9
Beside fractional odd, there is decimal odd as well. The calculation principle is rather different but it shows you the same thing. The principal is:
- Winning = (odds x stake) – stake
- With this principle, the winning for $10 stake can be:
(1.25 x $10) – $10 = $2.5 winnings
(2.5 x $10) – $10 = $15 winnings
(4.0 x $10) – $10 = $30 winnings
(9.0 x $10) – $10 = $80 winnings
In sum, it is important to use the odds and to understand the odds. Odds tell you how likely your bet event will happen and how much you can win. Now that you understand why we need to know the sports betting odds, you should familiarize yourself with the calculation.