The concept of odds is essential in sports betting. As the definition of a sports bet is intuitive, since it is a question of wagering on a sporting event to earn money, the odds definition, therefore, deserves more explanations.In this article we will help you understand why you should use the odds calculator !
WHY COMPARE ODDS?
The odds given for a sporting event directly affect your potential gain. In our example if you bet on the Netherlands and the events are right you then win 38 euros with bet365and 35 euros with William Hill. Following the match, the odds offered by sports betting sites will be more or less interesting.
Choosing the bookmaker where you bet is crucial, so it is important to compare and calculate the odds before each bet.
We at betting-odds.tv are pleased to help you open accounts with the best bookmakers. Make yourself a winner and open one today! Let us know what you need and we will help you open an account with a bookmaker that would meet your betting needs. Before placing a bet the player must compare the odds proposed to get the maximum gain!
WHY ARE THE BETTING ODDS DIFFERENT?
The odds offered by bookmakers are different for several reasons. First of all, the assessment of the probabilities is different according to the sports betting sites. Even if bookmakers use powerful statistical tools, it is of course impossible to predict the future. Then, the odds are adjusted according to the placed bets that are distributed differently according to the origin of the punters (the English for example tend to overestimate the chances of their football team). The payout or margin of the bookmaker will be different too. Finally, for commercial reasons, a sports betting site may decide to offer advantageous odds to recruit new players.
USE THE ODDS CALCULATOR
The odds of an event is a ratio offered by a betting site (bookmaker) allowing you to know precisely the potential gain of a bet. There are different types of odds, but the most used are the Decimal, Fractional, and American odds.
In the context of a sports bet, the event will be the result of a match, and its odds allow you to determine the amount of your win if your sports bet is a winner.
You can use the application to convert between decimal odds, fractional odds, and American odds. First, select the format you want to convert, enter the value you want to convert and click on the calculator button – the converted odds will appear. You can also use the calculator to calculate your potential earnings. Just enter the bet amount, choose the odds format and enter the odds value and press the calculator button – the potential gain will be calculated and displayed immediately.
We can even help you with an betting odds calculator that has been designed to help you keep track of your wagering records!
1. DECIMAL ODDS
Decimal odds are the most popular in Europe, Canada and Australia. They are also known as the European and Continental odds in the UK. They reflect the gains on a successful bet in decimal form and it’s easy to calculate.
2. FRACTIONAL ODDS
While decimal odds are the most popular, fractional odds are popular in the United Kingdom and Ireland. They are also known as British odds in the UK, or in this country – traditional odds. They are represented as fractions and indicate the net gain earned compared to the amount wagered. Unlike the decimal format, they show the possible profit (the stake is excluded).
3. AMERICAN ODDS
American odds are obviously the most popular among American bookmakers but are also offered by most online bookmakers. They are also known as “moneyline odds” and are different for favourites and outsiders.