When you decide to engage in online sports betting, you are sure to find out that the notion of odds can be tricky. Firstly, because there are three kinds of those. Let’s get to know more about this classification of common odds among different bookmakers.
Looking at this type of odds, it’s rather easy to count how much you can win if your bet is correct. Your payout will be equal to the sum of your stake multiplied by the odds. This way you’ll find the potential sum of money you can receive. However, you’ll have to subtract the stake for net profit. Let’s take an example to understand the term better:
You wish to bet $20 on Manchester United to beat Chelsea at 1.5. So, all you need to do is to multiply 20 by 1.5 (the decimal odds). If your prediction comes to life, you’ll get $30. Subtract the stake, and you’ll see that your profit is $10.
This kind of odds is even simpler and very widespread in the UK. When you look at it, the left number is the return, while the right one is the input. Let’s imagine another situation as an example. The odds are 3/1 that Liverpool will keep a clean sheet in the UEFA Super Cup. If you bet $10 and the prediction is correct, you get $40. Subtract the initial stake of $10, and you’ll get $30 of profit.
This kind of odds may also be inverted. It happens when the bet is very likely to win. For instance, when it’s 3/10 and you bet the same amount of $10, you’ll get $13, i.e. $3 of pure profit.
This kind of odds is also called money-line betting. The main peculiarity is that the odds are based on winning precisely $100. When you look at these odds, you’ll see positive numbers that represent favorites or negative numbers for the underdogs.
You can observe a similar technique in the online casino games odds.
Let’s take a look at the following example to understand this notion better:
If the odds are -400, you’ll need to stake $400 to win $500.
In case the odds are +400, you can bet $100 and get a total of $500.