Reading the Odds
How to Read Odds
The best way to optimize your chances of winning is to understand how to read odds. Being efficient with reading odds to the point youre able to estimate winning odds without making any mistakes in odds judgement is critical. Picking up on the concept of odds is also very important if you want to wager better odds before they change. The primary reason for learning how to read odds is because odds primarily follow a numerical sequence that represents the bookmakers information in a restricted space so that the “wager” can see how the wagers are being calculated.
Generally odds are set to illustrate the different types of bets, the classification which can be either fractional, decimal and money line. Obviously odds will vary depending on the sport. But as you learn to read odds you understand more about the probabilities of specific events which occur during a game. Additionally you are able to study past success rates to the present odds in order to help you make a better wager decision based on the information provided via the betting boards. Of course in time you should have the aptitude to place wagers by reading the odds and evaluating if the odds are in your favour at what edge the house will have on that bet.
There are traditional fractional odds used particularly in the UK however. Conversion of a 20% odd would equate to fractional odds of 4/1. Generally this type of fractional odd means that for every 1 time you win there are 4 times youre expected to lose. In the UK the odds are multiplied with your wager to equal your winnings. In this case the odds will show how many times you win verses how many bets wagered.
Of course, if you wager on American sports then youll need to comprehend American betting odds. Basically, American odds are referred to as lines or money line odds. The US odds usually are followed by a plus sign then the amount you could possibly win for a $100 bet. If theres a minus sign following the odds then this indicates how much youll need to bet in order to win $100.
Basically the odds conversions vary by country. In this case many European bookmakers use percentages rather than decimal odds, which are common in Europe. Heres an easy way to convert odds into decimal odds. Simply that the odds in % and divide it by 100. For example a 20% chance would equate to 100/20 or .5 odds of winning.
When betting online some sites will permit gamblers to use the check odds option to format the odds in their favor. This means depending on what version of odds are more comfortable for you, you can view them accordingly (fractional or decimals)
Most often the version of odds used for a specific game can help you to determine if those odds are best for you to wager on. If you want to rack up some quick money you might want to consider a wager on low odd event or even parlay the wagers if you feel it will increase your returns.
Last but not least never ever try to gamble and use strategies when intoxicated. Alcohol and gambling simply do not mix and is a very bad idea. While online casinos are meant for entertainment they can cause serious complications if not played responsibly.