What Are the Odds Worldwide

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Whether looking for a poker game, sports betting or casino games, A1 Betting Sites provides a place to determine where to play online.

Online sports betting is available at thousands of internet sports books all around the world. An individual can gamble on thousands of sports markets, from the NFL and AFL, the NBA to the English Premier League, the Olympics and everything in between. If a sporting event is happening somewhere in the world, there is ever chance there is an online sports book where an individual will be able to place a bet on the outcome.

Internet sports books will let an individual place bets on more than one sport at once, so sports gamblers will use an odds converter or odds calculator to stay on top of their bets. Perms, parlays or accumulators allow sports gamblers to mix and match several games and results onto a single betting slip. To be sure an individual is getting the right price before placing that bet, use an odds payout calculator to verify the figures. The wide difference between the odds-on markets at different gambling sites makes this a very important step.

All sports odds are influenced by what the Las Vegas bookies are saying about the odds for a game or sports event. The bookies of Las Vegas have more experience setting gambling odds than any other group, so most other bookies use Vegas betting odds as a benchmark, which results in there being less variation between gambling venues worldwide. While Vegas odds are built to generate a profit for “the house”, Vegas odds also created so it is possible for gamblers to win big when sports betting online.

Online gamblers from different locations around the world need to understand how the odds are displayed for the sport game at that specific location. Interestingly, those odds translate to the same thing and are always heavily influenced by the Las Vegas betting odds.

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Understanding Fractional Odds

Fractional Odds are popular in the United Kingdom but are also often used with horse racing. Fractional odds may also be referred to as British Odds, UK Odds or Traditional Odds. Fractional odds quote the net total which will be paid out to the bettor – should they win – relative to their stake.

Example: Bournemouth takes on Manchester United in the EPL

If backing Bournemouth, their odds are 5/1, so a stake is x5 
A £20 bet yields winnings of £100 (20 x 5 = 100)
You also get your £20 bet back
Total payout = £120

If backing Manchester United, their odds are 1/5
You will see a payout of just £1 for every £5 bet, meaning a total payout of £6 for someone betting £5.

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Understanding Decimal Odds

Decimal Odds are popular in Europe, Australia and Canada, and many think that they’re the easiest odds format to understand. Online sports books will offer the option of displaying their odds in the decimal format, sometimes known as European Odds in the UK.

With decimal odds, the figure quoted is the exact amount that will be paid out if the bet is a winner. Decimal odds are essentially equivalent to the decimal value of the fractional odds, plus one.

Example:

You bet on an Aussie Rules team with decimal odds of 2.00
A successful bet of $100 on the team results in a win of $100
Total payout is $200 (2.00 x your original bet of $100)

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Understanding American Odds

American Odds, sometimes known as Moneyline Odds, are popular with US sports books, and their betting odds work differently for favorites and underdogs.

American odds for betting on a favorite work by showing how much money you would have to risk in order to win $100.

Example:

The Miami Dolphins are -110 to win Sunday’s game
Placing a successful $110 bet on them yields $100 winnings
You also get you original $110 bet back
Total payout is $210

Things are a little different when betting on an underdog, with the positive number showing how much you can win if you risk $100. You may notice this is similar to ‘odds-on’ bets in UK markets.

Example:

The Buffalo Bills have odds of +240 this Sunday
Placing a successful $100 bet will yield $240 winnings
You also get your $100 bet back
Total payout is $340

If you see the letters PK alongside the odds offered on a game, it means that there is no favorite and you just “pick” the game winner without needing to worry about any point spread.

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The latest feature available from Internet sports books is Live betting. In-play betting means being able to bet on plays or factors in a specific game while the game is happening (in play). Making split second betting decisions can enhance the overall experience for some, making the games more exciting. Live betting lets the individual be involved in the game as it happens, not just place a bet on the game’s outcome.

Along with various play options, online betting on sports games and events has extensive and very specific rules of play, so be sure to take the time to carefully read this information which every site provides. Always remember, “All wagers are FINAL”. 

References

https://www.onlinegambling.com/sports/betting-odds-guide/