I am trying to learn new topics and concepts every single day. Now, don’t laugh, but I never got how odds worked in sports betting. I have always heard people say things like “hey, what’s the odds on that team winning” or “I will take the over on that play.”
I am not that embarrassed about not knowing what it is all about as we all have different hobbies, passions, and pursuits. I, for one, never genuinely pursued this activity in any form or fashion.
Indeed, have I been to horse races? Not a single one. Have I watched sports to make strong bets? No, I have not. But I do make bets every now and then on random aspects of life with people, from whether it will rain today or if one word means what someone thinks it means.
Yes, I take great pleasure in winning these bets because I usually know the answers, so it is heavily skewed in my favor. I also find myself with the outcome of political events, company outcomes, and other real-world activities.
But the fact is that I have always signed up in different situations to make simple bets, you know the type, If I’m right, I get $100, If I am wrong, you get $100.
But one day, I got sick and tired of not knowing about this simple
What did I have to do? I had to dig and learn more about this concept. Here is what I found in my web-based research.
The Art of Betting and The Odds
The art of betting consists of making wagers on different events anywhere and anytime. Sure, in most cases, it is taking place within a more professional setting.
You can find yourself betting via casino gambling, the sports domain, and other settings as well. As I have noted early on, you can notice that betting can even take place within the political realm as well. That may not be the most popular realm, but it is still a strong contender. The political arena might become more popular as it becomes more heated across the world.
But I digress.
If you think of yourself as a legitimate bettor, you must ensure that you comprehend the odds. Indeed, it would be malarkey to go about the gambling world without having knowledge about the essential component of odds.
One must know about the superficial aspects of betting odds and quickly know the type of bet one is making in a given setting.
If you agree that it is outrageous to think of yourself as a bettor and not know anything about the concept of odds, then you would agree that it is best to start learning.
Here is what you need to know about betting odds.
Three Segments In Betting Odds
The first segment of betting odds is the British odds. This is also known as fractional odds.
You will notice that the next odds segment is European odds. It is also known as decimal odds.
Finally, we have what is known as Moneyline odds. These are the American version of odds.
You must understand that these different segments are just various ways of showing one concept in slightly varied ways. You will see the same returns across the board.
The same odds can look slightly different.
We will start with with:
Decimal – 1.75
Fractional = ¾
You would merely subtract 1 from the decimal one, get .75, place 75/100 and get three out of four.
To get from decimal to Moneyline, you must take the decimal number, subtract one from it and then multiply that by one hundred.
This is just the most fundamental part of it, but it helps you learn one new small thing today regarding betting.