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This tool is useful if you want to know how your basketball over-under bet is looking or if you want to take advantage of the bets opportunities spreads.

The same applies to the super bowl and Stanley cup. Without game season per team and 30 teams, MLB is the ultimate sports action for sports gaming.

It is no secret that many people crush bet on MLB, as it has most of the experts. Many teams are even sponsored by bookmaking companies.

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Allsvenskan Norra 1. Serie A 4. Liga Placard 1. Segunda Division 6. HLA 2. Division 1 1. In this part of our betting odds explained guide, we will break that understanding down to two key points :.

On one hand , they are a reflection of probability according to the bookmaker. In other words, how likely they think an outcome is to happen — at least in theory.

Other factors can also play a part in this, such as promotions, market fluctuations, the overround, all of which we will cover later in this article.

Perhaps more accurate is that betting odds are a rough approximation of how likely they think an outcome is to happen. Ultimately though, the end result is what matters.

So perhaps we should look at it from a more bottom-line perspective. The second way of thinking about how betting odds work is that odds are a way of understanding how much you get if you win in relation to your stake.

Betting odds are both a reflection of implied probability and a way of understanding potential returns. Following on from our previous point on betting odds explained, always remember that how much money you can potentially win only matters in relation to the stake.

This is an extreme example, of course, but the important point is that the quality of the end result is all relative to how much you need to put down to see that return.

The odds are a reflection of how likely an event is to happen. They are also a way of understanding your potential return. Finding a good market, a smart market to bet on, is about finding one where you think the operator is wrong on both accounts.

Say you think that the odds are actually closer to evens. This would be a good market to bet on, because this difference of opinion means that the potential return, which these odds also represent, is very generous should your opinion be proven correct.

In order to help you with understanding betting points, we have broken down the three common types of odds format , with examples and explanations of how each of translates to both an implied probability, and cash return.

This is the crux of explaining betting odds. Do note that for fractional odds into implied probability, as well as into cash and into decimal and American odds, we will be using the same example for the sake of simplicity in helping you understand the core concepts like how do odds work together.

Rest assured these formulas are just as useful with any other example. Here are three really simple examples of how fractional odds can be converted into implied probability:.

In order to calculate fractional odds, we will utilise the last example. The second half — 1 in this instance — is represented by Y.

Or 1 divided by This comes out as This is an even simpler formula. All you do is say you win X for every Y that you bet. It really is as simple as that.

This allows you to both understand what the fractional odds represent both in terms of how likely an event is to happen according to the bookmaker, and how much you would win should this wager be successful.

If you think they have a much better chance that than that, then that would be a smart market to back because you are looking to get 9x your return.

That is one basic calculation for smarter betting. Here we are going to do the exact same thing but this time with decimal odds, so you are prepared no matter what odds are thrown at you.

The formula for working these out yourself is also very simple. That is your implied probability. Other examples can look more complicated than that, but the formulas are always the same.

Generally, decimal odds are easier to understand. Based on this, there has a movement to attract more people to horse racing by making it more accessible to the average punter.

Ten years ago, if you were going to Cheltenham, all the odds would be displayed as fractional odds. The second difference between the formats is that fractional odds only represent winnings, and do not include the returned stake compared to decimals which do include the stake.

The transition from fractional odds to decimals largely kicked off with the growing popularity of the betting exchanges such Betfair. Our odds converter tool will allow you see odds in whatever format you like.

Betting odds represent the probability of an event to happen and therefore enable you to work out how much money you will win if your bet wins.

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Ja, bei Betting Odds Sie nur eine. - Types of Live Betting

Betting odds which are displayed on the App are part of information and functions of the App.