enjoy betting on sports

Description

These days’ people enjoy betting on sports and other activities. In
every betting system, winning a bet is based on probability of the event
or the odds of the situation. While betting it is of utmost importance
that you understand the system of odds. Odds are essentially the
probability of a certain situation in terms of sports or other betting
events such as elections etc. Fixed betting odds are usually given by
the bookies and Betbubbles website.

Booking odd is a number that
indicates the chances of winning a stake, higher the number less are the
chances to win. One can easily compute the best odds and can
successfully wager on that event. This ensures that there is a maximum
possibility of booking profits while betting.



The bookmakers are concerned with mainly three types of odds.

• Decimal odds

• Fractional odds

• Moneyline odds

Decimal odds

One
of the most popular formats, they are also known as European odds as
they are used in most of the European countries. Calculating with
decimal odds is fairly simple which makes it one of the most preferred
types of odds calculating system. The odds in this format are
represented in for of 2-3 decimals. The underlying example will give a
clearer view.

When the betting odds are 2.50 on a match and you
bet $200 then on winning you stand to make $200 X 2.50 = $500. That is
$300 in profit of what you had bet in the first place.

Fractional odds

The
fractional odds are also known as British odds as they are often still
used in the UK as the traditional fractional odds. The British odds
represent the profit that can be made while betting in the form of
fractions. By simply adding 1 to the fraction, it is converted to the
decimal odds and can be further used to calculate the winning amount.

To
make things a little less complicated, betting $200 on a match with
odds placed at 9/10 will result in $200 X (1 + 9/10) = 380 i.e. the
bettor stands to make a profit of $180 each time he wins a $200 bet.

Moneyline odds

Moneyline
odds are primarily used in America and thus also known as American
odds. These odds are completely different from the above-mentioned odds
as they have positive and negative figures.

When a positive sign
precedes the odds (+), that indicates the amount you stand to win for
each $100 bet. While a negative sign (-) indicates the amount you need
to bet in order to make $100. They are two very different types of odds
in themselves.

It is always advisable that you should be fully
equipped with all the knowledge about rules and regulations of betting
before you jump on the gun. In doing so, you stand to win more often
than lose as in any case the house edge always lies with the bookmakers.
However, being informed about the nuances and odds system is the first
step towards successful betting.