A huge number of individuals don’t know how to establish odds in sports wagering. Due to this, we have curated a detailed guide to explain all about wagering odds.
Whether you are wagering in Nigeria with bet2win.com.ng or any part of the world, it is vital to acquire the skill to determine odds.
1. American Style Odds
This is how most bookies determine their odds. Although there are unlike sort of odds in sports wagering, these are very famous. Studying and comprehending sports wagering odds can be very confusing for starters. Check the instance provided below:
- Eagles: +120
- Parrots: -140
The indicated digit is the odds. Such chances come in two components which are a negative or positive symbol and a digit that follows.
The sign before a number shows if wagering on the result will pay out a less or high amount than your stake. If there is a negative (-) sign, it demonstrates that there is a high possibility of a win, and wagering on that can mean less pay. A positive (+) odds are a sign that a win is unlikely so the payment can exceed the stake.
You should then find out exactly what a bet will win. This is where you look at the digits.
The given odd with the not great (-) sign like -140 in the case above, demonstrates the amount of cash you require to bet to get $100. In this case, a player needs to have a $140 wager to get a $100 gain. Punters can simply replace their stake with a lower amount. For example, betting $14 can give you a $10 profit.
The given odd with the impressive (+) symbol like +120 in the case above demonstrates the cash a player will be victorious if they wager $100. In this case, a player would get rewarded $120 if they stake $100.
The most amazing thing about online wagering is that the bookmakers do the math for their customers before they confirm their bets. You just need to make your selections and enter the stake you want to wager and the website will calculate the possible win.
2. The decimal style odds
These types of wagers are very popular in Europe and other parts of the world. Getting acquainted with how to wager using these odds is quite uncomplicated. To know the cash you will win when you bet utilizing the decimal odds you only need to multiply your stake with the odds. Check the example given below:
- Croatia: 2.40
- France: 1.55
If a punter wanted to stake $100 on Croatia at 2.40 odds, they will just multiply the stake and the odds (100 x 2.40) to gain the total win which is $240. Note that the win includes the staked cash so you have to subtract the money you spent to obtain the profit (240 – 100) which is $140.
If you think France will win, wagering $100 would get a reward of $155 which results in a $55 profit.
The decimal style odds are simple to grasp even for beginners but sportsbooks in North America don’t normally use them. However, some sites allow their customers to select the way they want their odds displayed but the American style might be the default style.
If you want to alter the odds with going to a bookmakers site, you can use an odds converter tool like this one here.