To calculate and analyze sports betting odds, you need a strategy that will lead to long-term success. There is no single method that will work for everyone because everyone has a unique prediction style. However, by learning how to analyze data in an effective way while taking into account your own needs and predictions, you can boost your likelihood of winning bets.
How Do Sports Betting Odds Work?
Sports betting odds are usually written as a fraction or decimal but can also be expressed as American odds. An example of fractional odds would be 3/2.
Fractional odds are the easiest ones to understand. The value on top of the fraction is how much you’ll win, and the value on the bottom is how much you need to bet to win that amount. With decimal odds, this is simply reversed with what you’ll win being on the bottom and how much you need to bet on being on top.
Odds can be expressed as American odds as well, depending upon the sportsbook. This is often done if the book doesn’t offer fractional or decimal odds. The number behind the + sign is how much you’ll win, and the number in front of it is how much you’ll have to bet in order to win that amount.
Both of the above methods are expressed as positives, meaning that if there is a minus sign in front of the fraction or odds, then that means that this is not a winning bet. It’s important to know which number represents what so you can calculate your potential winnings.
“Sports betting odds can be very confusing at first to those who aren’t familiar with them or don’t know how to read them properly. It’s important to know what they mean and how to read them correctly so that you can take advantage of all the great opportunities available to sports bettors,” shares Mr. Ong of WS88, a reputable sportsbook singapore site.
How to Calculate Sports Betting Odds?
To calculate your potential winnings, you’ll take the amount that you’d like to bet and multiply it by the odds. This will give you how much you’ll win for every $1 that you bet. If the number behind the + sign is bigger than 1, then this means that this is a winning bet. If the number behind the + sign is smaller than 1, then this is a losing bet.
For potential loss or winnings, you’ll take how much you’d like to bet and divide it by the odds. This will give you how much you need to bet in order to win a certain amount of money. If the number in front of the – sign is bigger than 1, then this means that this is a losing bet. If the number in front of the – sign is smaller than 1, then this is a winning bet.
Here are some examples:
- If you think that Team A will beat Team B in a game of football, then you would place your bet by adding a point to the final score. So, if the final score of that game was Team A 20 and Team B 17, then your predicted score of that game is 27 for Team A. Therefore, you will win if Team A’s final score is 27 or higher.
- If you think that Team A and Team B will draw in a game of football, then you would place your bet by adding two points to the final score. So, if the final score of that game was Team A 20 and Team B 17, then your predicted score is 37 for the match. Therefore, you will win if the final score is 37 or higher.
- You can also place a bet for Team A to lose by subtracting a point from the final score. So, if the final score of that game was Team A 20 and Team B 17, then your predicted outcome is 19 because Team A’s final score has to be below 19 for you to win.
The important thing to remember when calculating your bet is that the final score is the only outcome on which your bet is determined. So, if there are overtime periods in a game or penalty kicks in a soccer match, then these do not count towards the final outcome of the match as far as your bet is concerned.
It is also important to remember that you need to have two predictions for each match in your list of bets when you are using the head-to-head method.
For example, if you think that Team A will beat Team B and draw with Team C in a round-robin tournament of football, then your prediction for the games between A and B and between A and C will both be “Team A will win.” You cannot bet on Team A to win one match and Team C to win the other.
Takeaway
Now you’re ready! But, always remember to check whether there are any special rules or regulations about betting before you start placing your bets on, say, sportsbook singapore site. It is also a good idea to study the history of each team in closely fought games so that you can predict what will happen in a tight encounter.