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Beginners Guide: Different Types Of Betting Odds Information
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Sports betting work on pre-assumptions over the results of any given match. These pre-assumptions are known as odds. These odds are probabilities for victory, draw or defeat for a team, as calculated by bookies or bookmakers. Bookies or bookmakers are the persons who offer odds, take bets and handle payouts after the result is declared to the sports investors. Bettors need not to figure out the odds, instead he/she only has to read out the odds and know how to place the bets. If the placed bets or posted odds are better than the predicted bets, then you may win the bets, otherwise if the placed bets are less than the predicted bets, then there are less chances that you win a sports betting.
Beginners or unsuccessful bettors may think that betting is all about picking up winners, but that can be considered as a small part of success. Before beginners bet for any event, they need to understand main types of betting odds that are generally used while placing bets. Also they need to understand that how betting odds work after placing bets. The working of betting odds needs to be understood by the punters before they place betting on any sport. There are three main types of betting odds that can be placed while betting on any sport. Those betting odds are-
Most popular odds offered by almost all the bookies/bookmakers in the betting world are Decimal odds. Decimal odds clearly states that how much money will be gained on betting of each unit. For getting better accuracy out of the odds, most of the decimal odds go out to 2 decimal places. It is depended on bookmaker that how he takes 1 unit stake, whether 1, 10 or 100.
Second most common type of odds is fractional odds. Fractional odds follow the same base as followed in decimal odds and are more commonly used by UK bookmarkers. Fractional odds let a punter to know how much profit will be returned from 1 unit stake as opposed to how much in total will return from each unit of stake.
Third most popular odds popular in the betting world are American odds. These odds are also known as money lines, and is little bit different from other types of betting odds. American odds are primarily based on 100 stakes and predicts about positive or negative outcome from the bets. If the outcome is positive, then American odds will inform you how much profit you will make on 100 stakes. On the other side if the outcome is negative, then American odds will inform you about how much stake would be further needed to make 100 stakes on a bet.
Alice Croxy is United States author. Explain Betting Odds shows you how Vegas betting odds work and explain the types of betting odds in detail. If you are looking for any information on Best How Betting Odds Work than please contact us.
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