New to sports betting: In all honesty, the first time you see sportsbook odds, it might not make much sense to you. But don’t fret, this guide will walk you through it step by step. With a bit of practice and patience you will be reading odds like a pro in no time. Betting on sportsbooks is made simple and easy with PinoyCas and so let us talk about what sportsbook odds really are.
What Are Sportsbook Odds?
Sportsbook odds are basically numbers that indicate the likelihood of an event occurring and how much money you could win if you bet on it. The three main formats in which they are displayed are decimal, fractional and American. Although they’re visually distinct, they all deliver identical information.
Why Are Odds Important?
Odds are important because they inform you where to put your money. They reveal how much you stand to win and give an indication of the likelihood of an outcome. From football to basketball to tennis, understanding how to interpret odds is the secret to placing smart bets.
Types of Sportsbook Odds
Decimal Odds
The decimal odds are the easiest to read. They represent the total payback per dollar wagered, not realizing that your original bet is included. So for example if there was an Odds of 2.00 and you place 10$, your total payout would be 20$ ($10 x 2.00).
Fractional Odds
The most common type in the UK is fractional odds. They indicate how much money you can win in relation to how much you bet. For example; If the odds are 5/1 the return will be $5 for every $1 you wagered, in addition to your bankroll.
American Odds
Using American odds — a style that’s common in the US — these can be either positive or negative. Positive odds (+200) indicate the profit you will make on a $100 wager. Negative odds (-150) indicate how much you have to bet to win $100.
How to Calculate Winnings
Example 1: Decimal Odds
If the odds are 3.50 and you wager $20:
Payout total = $20 x 3.50 = $70
Profit = $70 – $20 = $50
Example 2: Fractional Odds
Other bets have some variation like 4/1, meaning that if you bet $10:
Profit = $10 x 4 = $40
Overall payout = $40 + $10 = $50
Example 3: American Odds
If you bet $30 at +250:
Profit = $30 x 2.5 = $75
Aggregate payout = $75 + $30 = $105
If the odds are -200, and you bet $50:
Profit = $50 / 2 = $25
Payout total = $25 + $50 = $75
Keys to Understanding Odds
Do Your Research
Do your homework on the teams, players or events on which you’re wagering. The more you know, the better decisions you make.
Compare Odds
Odds can vary from book to book. Some platforms like PinoyCas have competitive odds as well, so be sure to shop around for the best deal.
Start Small
For beginners, start with small bets. This allows you to learn without losing too much money.
How Odds Are Set
Bookmakers set odds based on a variety of factors, including team performance, player injuries, and public opinion. They’re trying to even out the money on either side so they make money no matter what.
What do Over/Under Odds Mean?
Over/under bets are on the total score in a game. If, say, the line was set at 50 points:
Betting “over” you believe that the combined score will exceed 50.
Wagering “under” means you believe the total points will be lower.
Moneyline Bets
Moneyline bets are the most basic type of bets. You are simply choosing the winner. For example:
Team A: -150
Team B: +200
For example, if you stake $100 on Team B and they’re victorious, you’ll win a $200 profit.
Spread Betting
Sports spread betting is designed to even the odds between teams. For example:
Team A: -7
Team B: +7
So if you placed a bet on Team A, they must win by over 7. If you bet on Team B, they must lose by less than 7 points or win outright to win.
Live Betting
Live betting allows you to bet on a game within the match. It’s thrilling to see a way to fine tune your game plan depending on what is occurring in live time. Even sites with features like live betting, such as PinoyCas, often have options for the game to be thrilling as well.
Responsible Betting
Set a Budget
Bet only what you can afford to lose Lay Ground Rules to Keep From Overspending
Know When to Stop
If you’re on a negative streak, take a rest. So, chasing losses can lead to bigger ones.
Use Trusted Sites
Such platforms can cause you to miss out on a safe betting experience that places can offer, like PinoyCas.
Conclusion
If you want to make smart bets and get the most out of your betting experience, you need to know how sportsbook odds work. However, by mastering the fundamental principles and practicing responsible wagering, it can be an enjoyable experience with the potential of a good payout. No matter if you have a team that you are rooting for or want to know something new, knowledge is your best friend when it comes to betting. So, start, get to know the platforms, for example, PinoyCas, and have fun with the sportsbook odds!
