If you are new to sports betting, tricky sportsbook odds can appear to be a foreign language. But don’t get stressed, this will guide you step by step. After some practice and a little patience you’ll be able to read odds like a pro in no time. PinoyDay and similar platforms offer a quick and fun way to bet, so let us look at what sportsbook odds are.
What Are Sportsbook Odds?
Sportsbook odds are simply numbers that indicate the likelihood of an event’s occurrence and how much you will receive if you bet on it. There are three main styles of odds: decimal, fractional, and American. Although they appear different, each offers the same information.
Why Are Odds Important?
Odds are important because they tell you which way deciding where to place your bets. They tell you how much you could win and show the probability of an outcome. Be it betting on football, basketball, or tennis, knowing how to decipher odds helps make smart bets.
Types of Sportsbook Odds
Decimal Odds
Decimal odds are the simplest. They represent your total payout per dollar wagered, which includes your original bet. Most common betting odds formats are decimal odds, which means how much you win, in total, for every dollar you bet; for example, for 2.00 odds, you would win $ 10 for every $ 10 wagered ($ 10 x 2.00).
Fractional Odds
In the UK, they use fractional odds. They reflect your possible profit in comparison with your bet. For example, 5/1 odds means you’ll win $5 for every $1 you wager, in addition to your original stake.
American Odds
American odds are embraced by Americans, and they can be negative or positive. Positive odds (+200) indicate your profit on a $100 wager. Negative odds (-150) explain how much you must wager to make a profit of $100.
How to Calculate Winnings
Example 1: Decimal Odds
For example, you bet $20 at 3.50 odds:
Full payout = $20 x 3.50 = $70
Profit = $70 – $20 = $50
2nd Example: Fractional Odds
If it is 4/1 odds and you wager $10:
Profit = $10 x 4 = $40
Total payout = $30 + $10 = $40
Example 3: American Odds
If the odds are +250 and you wagered $30:
Profit = $30 x 2.5 = $75
Total Payout = $75 + $30 = $105
Example 1: If you place a bet at -200 and you put down $50:
Profit = $50 / 2 = $25
Total payout = 25 +50 = 75
Learning How to Understand Odds
Do Your Research
Study up on the teams, players or events you’re betting on. The more you know, the better your decisions will be.
Compare Odds
Note: Odds may vary from different sportsbooks. With platforms like PinoyDay, you can take advantage of competitive odds so be sure to shop around.
Start Small
If you are new, bet small. This allows you to learn without losing big amounts of money.
How Odds Are Set
Sportsbooks take into account a variety of factors in making their lines, including overall team performance, player injuries and public sentiment. They try to even out the bets on both sides so that they make a profit no matter what happens.
What Are Over/Under Odds?
Over/under bets are on a game’s total score. For example, if the line is at 50 points:
An “over” bet means you believe the total score will exceed 50.
Betting “under” means you expect a lower score.
Moneyline Bets
Moneyline : Moneyline bets are the most basic type of bet. You’re only picking the winner. For example:
Team A: -150
Team B: +200
If you wager $100 on Team B and it wins, you’ll profit $200.
Spread Betting
Spread betting evens the game between teams. For example:
Team A: -7
Team B: +7
You need team A to win by greater than 7 if you are betting on team A. So, if you are betting on Team B, they either have to win outright or lose by 7 points or less for you to win.
Live Betting
Live betting allows you to wager during a game. The ability to respond to what is happening in real time is an exciting way to tweak your strategy. During the game, platforms such as PinoyDay usually come with live betting solutions to adding up the excitement.
Responsible Betting
Set a Budget
Never bet more than you can afford to lose. Establish boundaries so you won’t overindulge.
Know When to Stop
If you’re on a losing streak, walk away. So chasing losses can be a greater issue.
Use Trusted Sites
Use only reputable platforms such as PinoyDay for a safe betting experience.
Conclusion
Learning sportsbook odds is vital for betting smart and most importantly having fun when you bet. With a bit of understanding and some common sense, you can enjoy yourself and make yourself a few dollars. Be it bet on your beloved team or experience new sports, knowledge is your best friend. So, start now, browse PinoyDay and enjoy sportsbook odds!
