From Novice to Pro: Expert Tips on Sports Betting Odds!

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From Novice to Pro: Expert Tips on Sports Betting Odds!

When starting out in sports betting, many people may encounter some difficulties in the process of choosing and calculating the betting odds. Understanding sports betting odds plays a crucial role in determining the outcome of a bet. While it may sound complex, calculating betting odds is actually relatively easy. Let's delve which bookmaker gives the best odds the issue through the following article!

Understanding Some Basics About Sports Betting Odds

Sports betting odds are specific numbers provided by bookmakers for players to choose from. To obtain these numbers, bookmakers must build related data about the match such as the lineup, the form of each team, and the weather.

Betting odds will inform players of the potential prize money after winning the bet. At the same time, it also reflects a part of the probability of winning a bet. The greater the gap between the teams in a match, the lower the betting odds, and vice versa.

Most Popular Sports Betting Odds Today

Currently, there are many types of sports betting odds, but the most common types are:

American Odds

American sports betting odds are very easy to understand and straightforward. You don't need to be good at calculations or have experience to choose this type of odds. American betting odds are usually expressed with a minus (-) or plus (+) sign. The minus sign usually indicates the team that will lose, and the plus sign indicates the winning team. The larger the amount of money wagered, the larger the prize money.

For example: The bookmaker program offers betting odds for Hoang Anh Gia Lai (HAGL) and Song Lam Nghe An (SLNA). The betting odds for SLNA winning are +200, and the betting odds for HAGL losing are -100.

If a player bets 1 million VND on SLNA and wins, the amount received will be 2 million VND. This includes the initial 1 million VND bet and the remaining 1 million VND as winning money.

If a player bets 1 million VND on HAGL and wins, the amount received will be 3 million VND. This includes the initial 1 million VND bet and an additional 2 million VND as winning money.

Decimal Odds (DEC)

Decimal odds, or decimal betting odds, are a decimal number. It is used to represent the total amount that the bookmaker has to pay when a player places a bet on that odds and wins. And the special thing about decimal odds is that the prize money will include the capital.

For example: If a player bets 1 VND on an Asian handicap and wins, the decimal odds will be 1.82.

Simply put, if the player wins, the bookmaker will have to pay back 1.84 VND. This amount includes the initial 1 VND bet. Thus, the player will receive 0.84 VND as profit. Conversely, if the player loses, the initial bet of 1 VND will be lost.

The formula for calculating profit when placing bets on this type of sports betting odds is: Total winnings (including capital) = Initial bet amount x Betting odds (DEC).

Looking at decimal odds, it is easy to distinguish which team has the advantage. Teams with lower odds usually have larger odds, and of course, the winning amount is also higher. Conversely, stronger teams will be assigned lower numbers, and the winnings will be much smaller.

Hong Kong Odds

As the name suggests, Hong Kong sports betting odds are even numbers provided by Hong Kong bookmakers. Based on this number, players can calculate the potential winnings after winning. With a relatively simple calculation method, Hong Kong odds are favored and chosen by many Vietnamese players.

Malay Odds

Malay odds (MY) represent the relationship between potential profit and the initial bet amount. This means it only represents the actual profit after subtracting the capital or the amount lost when the player places a bet.

These sports king betting site odds will be expressed in both negative and positive numbers. However, unlike American betting odds, negative numbers will be assigned to the stronger team, and positive numbers will be assigned to the weaker team.

Fractional Odds

Fractional odds are widely used in the past. Nowadays, this type of betting odds is still favored and chosen by many people in Europe. However, in Asian countries like Vietnam, it is not popular. The calculation method of fractional odds is also very simple and easy to understand.

For example, in a match between Song Lam Nghe An and Hoang Anh Gia Lai, if the betting odds for this match are 2/1, it means that the probability of winning in this bet is 50%. Of course, this also means that the player has to bear a 50% risk of losing the bet.

Conclusion

The above guide to betting summarizes the most popular sports betting odds today. Study each type of odds carefully to make the most reasonable choice! Finally, I wish you all the best in winning big when participating in sports betting.