May 19, 2020

Betting odds – the main one for everyone involved

Beginning to practice a certain type of game, it's really essential to get to know the main rules that the game will play. This is the intent used to the fullest extent of betting. Before the player in question sets a bet, he needs to be in the base of the site building, and such initial level is to have complete and clear information aboutbetting odds. Not having knowledge ofbetting odds, the participants will not know what the likely outcome of a sporting event would be and what their potential gains would be – certainly advice that could make it much more inventive and inventive.

Betting odds – Implicit model

By presenting the essence of betting odds, we always need to take into account the relative probability – this is one of the basic motives that will help make it from a potential ordinary contributor to a winning depositor. Implicit probability is the conversion of betting odds into a percentage representing the chance to match a certain end result. We will briefly introduce you how to think odds in probabilities.

Betting odds in their fractional model

Fractional betting odds are quite popular in the UK and show the net amount that the participant will have when making a winning bet. For example, if the player in question is willing to bet at £ 50 for fractional stakes of 10 to 1, he will have a specific value of £ 500 in the event of a win. The betting odds in question are likely to be called in a variant, also known as chances of Hong Kong. It also shows the returning net worth of the player, but the performance is decimal, rather than partial.

Check out Betting Odds 1 — Check out Betting Odds

Betting odds by fractional model – turn them into probabilities

For the transformation of the odd fractional bet into probability, the formula is such a denominator / numerator * 100. If we take a 7/3 fraction bet, the option will be:

3/7 =

3/10 =

0.33 * 100 = 33.33% assumed probability.

Betting odds – placing a bet on values

Considering that the current bettor has deep skills in betting odds, risk and chances, he could make a betting plan that would focus on finding wagering worth. Let's look at a case of betting on values.

In this situation, three players will place a bet on a certain event at the same bookmaker – Chelsea vs. Manchester United. He gives them the appropriate betting odds – to beat Chelsea – 2.33 or 42.92%, win Manchester United – 3.67 or a probability of 27.25%, and for a tie – 3 or 33.33%. In this context, each participant will act to earn a gross profit of £ 200.

Value betting plays a crucial role for any player who sees betting as an investment rather than as a gambling.

Trust the Betting Odds 2 — Trust the Betting Odds

Betting odds in an American model

American betting odds are slightly different from the decimal and partial betting odds because they could be seen as positive or positive numbers. It is of paramount importance for a potential player to know that American betting odds are practicing another way if the participant makes a bet to a favorite team or an opponent. The answer is easy – betting on your preferred team means that American betting odds represent the value you need to bet in order to be able to win 100 pounds.

Betting odds according to a decimal model – exactly how to recreate probabilities?

Transforming the decimal betting odds into probabilities, the player must use the exact formula:

1 / odd decimal odds * 100. For example, at 1.46 bets, the odd probability will be 1 / 1.46 or 68.49%.

See our Betting Odds 3 — See our Betting Odds

Betting odds according to the American model – their turning into optimal chances

In the transformation of American betting odds into an implicit probability, the participant in question must provide that the action is two types of negative and negative betting odds.

Betting odds – Decimal types of betting odds

Decimal betting odds are very common across Europe, Australia, New Zealand and Canada, but virtually every bookmaker has an option to provide them as a customer choice. Decimal betting odds are the payouts of the respective bet that is intended for the participant, including the starting bet. In practice, they express the decimal value of the specified betting odds plus 1.

Betting odds – Take care of Bettingmetrics!

Besides the appropriate method for calculating betting odds, you can find in Bettingmetrics also the ideal betting calculator, tracking betting tool, odds calculator and much more.

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