how sports betting works odds

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Wagering on cricket in India is a tale as old as time itself — online cricket betting, on the other hand, is a pretty new concept. Have you had any luck betting on Big Bash this year? Ok, so we absolutely love cricket. Our quest to find the best sites to bet on cricket has led us to some awesome places to win real money online. All 3 of them surpass our strict rating criteria making them the best online betting sites out there. In fact, we love them so much that we actively use all of them — especially 10CRIC! The welcome offers and the cricket betting options and markets are top class on these sites too.

How sports betting works odds online sports betting in canada

How sports betting works odds

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Odds just tells you how much you can win with a particular wager or how much you need to bet to win the desired amount. As usual, the favorites are displayed with the minus sign attached to the number, while the underdog has the plus sign attached to its number.

As a newbie, you might find the money lines market a little confusing, but it gets easier once you get the hang of it. The Baltimore Ravens are clearly the favorites with the minus sign. With Pittsburgh Steelers being the underdogs, they have a much larger payout than the Ravens.

If you believe the total score would be more than But if you strongly believe that the total score would be less than While the previous example shows lines for the total points scored by both teams, this example shows lines of the number of points scored by the Ravens in a match against the Steelers.

But the bookies who determine these betting lines are really smart, and as you go further, you come to realize how much more challenging these lines can be. When it comes to where to place bets, there are two main places to place your bets. The physical or land-based sports bookies and the online sports betting websites.

While on the online sports betting websites, all you have to do is create an account, fund it and start placing bets on your favorite sports. Placing wagers might just have started from the first civilization. They come in different formats , and sometimes seem to work counter-intuitively. You can trust our team of experts. We have put together all the key information about how odds work and how to read their different formats. We know that finding the best sports betting sites is not enough.

Without proper guides explaining betting odds, many bettors may face frustration or confusion. We want you to have the best time and be the most strategic bettor possible. We will also lay out some of the basics you should keep in mind when reading odds.

Together, this is a complete guide to reading and understanding odds for sports betting. We all have had to have the odds formats explained to us at some point. They can be a bit confusing at first, but you will get the hang of it quickly. There are three main ways of representing odds , and it is important to explain them well. They are equivalents, and can be directly translated. They are just different ways of representing the same value. And they all represent the chance that something will happen.

Or rather, the chance the betting market thinks something will happen. In direct relation to the probability that something will happen, odds also tell you how much money you stand to gain and how much you could lose exposure. The American odds format are most common , of course, in the United States. It may be counterintuitive at first, but it is important to know that favorites are marked with a negative sign -.

In other words, the lower the number, the more likely they are to win, and the less money you win. These numbers will always be lower than A similar logic works for the underdogs. Decimal odds are also known as continental, digital, or European odds. Decimal odds are very simple and are the easiest for calculating payout.

In decimal odds, your stake is already calculated in your total payout. No need to add it back in to calculate your total payout. In order to spot the underdog and favorite, just keep in mind that the lower the number, the more favored. In this case, the St.

Louis Cardinals are the favorites. Assuming they win. Because, remember, and decimal fractions, the stake is included in the payout. Fractional odds are also known as British, Ratio, or Traditional odds.

You can spot them because they are represented with a hyphen - or a colon : between two numbers. The first part of the fraction, the denominator, represents how much profit you earn if you bet the the second part of the fraction, the nominator. Maybe an example will help you see how these odds work. You will also get your original stake back. Another way to calculate this is to multiply your stake by the first number, then divide it by the second number. Always remember to add your stake back in.

The lower the first number compared to the second number means they are more favored to win.