A sport betting odds is essentially a method that is used to indicate a bet’s chance of winning. For a long time the sports betting odds of any game is displayed in one of two formats; fractional or decimal. In recent times a new form of betting odds has emerged; the American odds. Today there are three major types of different betting odds known internationally; the factional betting odds that are most popular in the UK, the decimal betting odds that are most popular in Europe and the American betting odds.
Factorial Betting Odds
The factorial betting odds are most popular in the UK and are frequently used in horse racing. The factorial odds is often referred to as the traditional odds and quotes the net total shows a side by side comparison of the net total that each bettor would win according to the amount of money they bet.
If a bettor was to bet on any sporting game between two opposing teams and the odds of the team they bet on winning the opposing team was 5/1. If the bettor was to bet £10.00 on the winning team with the 5/1, then that person would win 5 times their original betting price of the money that they put up in addition to their original stake; providing the bettor with a total of £60.00.
Decimal Betting Odds
The decimal betting odds are most popular among regions such as Europe, Canada, and Australia. With decimal betting odds the figure quoted is the precise amount that the winning better would receive.
Therefore if a better was to place a bet on a team in a game that had betting odds of 1 to 1, which would be displayed as 1/1 in factorial betting odds, the decimal display would be 1.00+1.00; where the first 1.00 would represent the even-money bet and the +1.00 would represent the bettors original stake, providing a total decimal odds of 2.00. So if a better was to bet $50.00 on that game would receive a total of $100.00 in winnings, which is a multiplication of the betting odds that is 2.00 and the bettor’s stake that is $50.00.
American Betting Odds
The American betting odds is unique to and very popular in the United States of America. The American betting odds are sometimes referred to as moneyline odds, what is so unique about the American betting odds is that it works differently for teams that are considered as favorites and those that are considered as underdogs.
The American betting odds operates in such a way that it shows how much money a better would need to bet on a favorite team in a sporting game in order to wine $100. Therefore if a better were to use the American betting odds and receives and odds of -120 for a particular team in a sporting game, then this would mean that the bettor would need to bet 70 dollars in order to win the total of $100.00.