Do you like to bet on sports?
If yes, you need to learn how to read the betting odds first.
The most important aspect of sports betting is betting odds. Without betting odds, you will not be able to place bets.
Bookmakers consider various factors like the team’s past performance, current analysis of the team, and present conditions to come up with betting odds.
Odds are nothing but rates. Each team gets different rates from the bookmaker. You need to check the rates and then place the bet. However, there are different types of odds in sports betting.
So you need to understand the types of odds before you place the bets. If you are new to the betting world and don’t know much about odds, we can help you. Follow our guide to learn how to read sports betting odds.
Types of Sports Betting Odds and How to Read It?
There are three main types of odds in betting, i.e. American odds, fractional odds and decimal odds. Each type of odds is different from another. You need to check the odd and read it to place bets carefully.
- American Odds: It is the most popular type of odd in sports betting. It is also known as Moneyline odds. Most of the bookmakers in the United States follow this type of odds. It is quite different from fractional and decimal odds. Most of the football, baseball and basketball odds are in this form. There are two teams, i.e. favourites and underdogs. There is a number given below each team, along with the + and – sign. The – sign is for the underdog team, and the + is for the favourites. The + number shows how much money you need to bet to win Rs.100. However, the – number shows how much money you will win if you bet on the team with Rs.100.
- Decimal Odds: This is the most common and simplest type of odds. It is also known as European odds. As the name goes, the odds are in decimal form. There is no concept of favourites or underdogs. This type of odds is quite popular in Canada, Europe and the UK. A decimal number is given below each team. The Stake money is multiplied by the odds to give you pay out of you win the bet. For example, MI has odds of 1.2. So if you bet Rs.100 on MI and win, you will get 100 X 1.2 = Rs.120.
- Fractional Odds: This type of odds is in the form of a fraction. It is also known as UK odds or traditional odds. It is very common is horse race betting. It shows how much money you need to put at stake to win a specific amount. For example, if MI has odds 1/5, you will win Rs.1 if you put Rs.5 at stake. Similarly, if the odds are 5/1, you will win Rs.5 if you put Rs.1 at stake.
These are different types of odds in sports betting. You need to understand each odd and read it carefully before you place the be