- Do you struggle with understanding betting odds? Do you find it hard to work out fractions and decimal odds? We will explain how it all works.
- Today, I will be tackling yet another very important topic for you. That is eSports betting odds. Now, why is it that important of a topic you say? Betting odds are what separates between you.
- Betting Odds Explained 101
- Betting Odds Explained 10 11 Odds
- What Are 11/10 Odds
- Betting Odds Explained 10 11 15
The sports betting odds express how much money you can win for each dollar gambled. Understanding betting odds could keep you from losing money. NFL betting explained: NFL odds, point spreads, and more. Make a qualifying deposit (min $10), place bets to deposit value, once they are settled.
If you want to bet on sports, you better get used to the word ‘odds'.
You need to be able to read odds, compare them, and understand how much you can win for the amount of money you're risking.
They're that important.
But if you don't understand odds yet, that's okay, because we're going to cover them in detail below. We'll answer these specific questions:
- How do bookmakers set their odds?
- Why do odds change?
- Why are punters at a disadvantage?
- How do you read American, fraction and decimal odds?
Let's get started.
How do bookmakers set their odds?
Betting sites set odds based on two things:
- Probability of each outcome (using experience, trends, current stats, etc).
- His own margin.
Let's start with the probability of each outcome. We'll use a football game as an example.
England – 60%
Drawn – 20%
France – 20%
Total Probability – 100%
Pretty straightforward, eh? There are 3 outcomes, and these are the odds the bookmaker gives each one.
Next he adds his margin (aka profit).
Each bookmaker will have a default margin they use. It might be overall, or based on a specific sport, match or event. The margins could even be swayed by the public.
Typical margins hover around 105-107%. It just depends on where you place your bets.
Here's what the finished odds for that football might look like with the bookmaker's margin tacked on:
England (to win at odds of 1.54) – 65%
Drawn (to win at odds of 4.12) – 24%
France (to win at odds of 5.55) – 18%
Total Probability – 107%
Make sense?
It's for this reason that you're automatically at a disadvantage every time you bet. Since the bookie adds a commission the bet is no longer even money on a coin flip. You're not 50% to win/lose anymore, but more like 53-60% to lose – which is a hurdle you'll need to overcome to be a profitable bettor.
One other thing worth noting – if you find that the margin is around 107% online, know that with a bit of research you can find smaller margins elsewhere (at reputable books).
Why do odds change?
The simplest reason is because the bookmaker needs to action on both sides to be even in order to make a profit.
For example, say Team A has odds of -1.40. You'll wager 140 to win 100.
Team B's odds are +120. You'll wager 100 to win 120.
Say 2 people place a bet, one for 140 on Team A, the other 100 on Team B.
Now, let's assume Team B loses (they were the underdog after all). So the bookie collects 100 from him.
But he still has to pay out the guy who bet on Team A. He owes him 100 bucks. Ultimately, he breaks even on this game.
If the action was too heavy on Team B, the bookmaker could face a devastating loss. And it does happen.
But to discourage that from happening, if the bookmaker noticed too much action on Team B, he'll adjust the odds to encourage more action on Team A.
That way he doesn't find himself too deep in the hole (preferably not at all).
Of course, had the game gone the other way, the bookmaker would've collected 140 from Team A. Then he'd have to pay 100 to the guy who bet on Team B, which would've resulted in a +40 profit (to the bookie).
The bookies goal is to have more days where he collects a profit than breaks-even, or loses …just like you.
How do you read American, fraction and decimal odds?
Sportsbooks list odds in 3 different ways. Most books will let you pick how the odds are listed – which you'll choose based on what's easiest to read/understand.
Most people will say that the easiest to read/understand are decimal odds.
But you can look at all 3 (with examples) and determine that for yourself.
American Odds
These are written in whole numbers with a plus (+) or negative (-) sign in front of them.
For example:
Team A: +120
Team B: -140
The plus sign means the team is an underdog, and that you'll need to bet $100 to win the amount shown. In this example you'd bet $100 to win $120.
Negative signs mean the opposite. The team is an underdog, and you'll need to bet the amount shown to win $100. In this case you'd bet $140 to win $100.
Fractional Odds
These are used most in the UK. They're written as fractions.
For example: 1.5/1
This would read like this: You bet $1 to win $1.50.
Decimal Odds
These are simple to read. These are just probabilities turned into percentages. All you do is take 100% and divide that by the probability of an outcome.
For example, say the outcome is 50%. You'd do this: 100% (total) / 50% (this outcome) = 2.0
Let's look at one more example…
Say the probability to win is 65%. The math would look like this: 100/65 = 1.54
Every unit you bet will earn you 1.54 units (using the example above). If your unit is $1, then if your bet wins, you'll win $1.54.
Simple, eh?
Conclusion
Like I said, odds are everything in betting.
Just re-read this page if you still don't see it yet.
For example, now that you know why sportsbooks' odds shift (all the time), you should now understand the importance of trends, stats, research, etc., as well as the importance behind line shopping.
And since you know how to read odds, you should be able to line shop and choose odds that will lead to the most profit should your bet(s) win.
Betting Odds Explained 101
Right?
And it's all because you understand how sports odds work.
It's very common today for many gamblers to go for online betting methods. There is a great portion of gamblers that search and exchange advice in online sports gambling forums to gather peer or expert opinions regarding a specific game. If you are smart and proactive, you have the chance to stake for free without sparing a penny, just by using free bet codes, all valid and tested for 2020
What is really a 'free bet'?
Contents
- 3 Breakdown of the 4 main bookies
A free stake is essentially a bonus stake that an operator grants you upon registration. Prior getting this bonus bet, you must first place a deposit and play through your funds. In case your bet has been deemed as lost, the bookie will refund you the total lost value.
In many cases, the funds granted by the respective bookie are subject to rules and conditions and you can not directly cash out the amount from your account, just a few minutes after you get it.
Be cautious as there is a difference between a free bet and bonus upon your initial deposit.
A typical bonus is a specific amount of funds you'll receive upon your first deposit. This is equal to a percentage based on the amount added by the gambler like 50% or 100% depending on the current special. By getting a free bet, you can also regain partially or fully the value of the bet you've played and lost.
What kind of promotion is more lucrative in ?
This a pretty tough question as different gamblers have different needs. In any given offer, there are strengths and weaknesses. A free stake allows you to add a large amount of funds in a single bet selection because you are backed-up in case that bet is lost. But if your pick win, you can then get a large amount of money from one shot. Only the free bet bonus though can recover back the value of your lost bet.
The typical bonus amount is given during the first stake irrespective of the outcome. It's not possible to win a large amount of money with a single shot, but you'll have to add more cash to wager on sports gambling. A seasoned player will most likely go for such offer because the rollover happens naturally and progressively.
Just like the rest of the specials, free stakes have both strengths and weaknesses.
The strengths are as follows:
- Any new user can opt for a free stake or a 100% cash match bonus during your initial deposit.
- If we compared this to traditional bookies, the value of your funds is 2X
- The bonus will vary depending on how devoted player you are
- In case this is your first time betting online, the free stake bonus will prove useful. You can only spare a small amount of your money and then take advantage of the bonus and the types of free bets on offer.
The weak points of free bonus bets:
- Free Bets are given only in case you lose your first bet
- You have to make a stake in a certain range of odds (e.g min). In case you've lost your first bet, you should rollover your funds many times before cashing out.
- Some operators also demand that you add bets in at least 3-5 games.
Breakdown of the 4 main bookies
Ladbrokes: £30 free bet deal
During adding your first bet with Ladbrokes, you can also receive a bonus worth.
To claim this bonus, you should first follow some terms and conditions–which are also the drawbacks that come with it.
You can't add a bet at odds below the ½ range to be eligible for your free bet bonus. An extra drawback is that initiating a deposit via Neteller, Skrill, or Paysafecard does not count for this special
Check out our article about latest Ladbrokes promos.
Betting Odds Explained 10 11 Odds
William Hill: from £10 to £40
After creating a user account on William Hill and placing your first deposit and wager £10, you will get £40 in the form of free stakes (4 bets valued £10 each) when you play via mobile using the promo code N40.
William Hill grants this bet special to new clients, regardless if that bet wins or loses. The only terms are either to add your first bet on choices with single or progressive odds of more than ½ and rollover bonus funds sometimes prior requesting a cash-out. This can be a bit of trouble as you'll have to repeatedly search for events at odds ½ or more.
Check out our latest article on William Hill promos.
Unibet: up to £40 money back bonus
New clients residing in the U.K are entitled to getting a £40 valued bonus as money back. Once you create and validate your account, you will then have to place a deposit and add your first bet.
Unibet has less strict and binding rules and conditions compared to other operators. Of course you'll have to consider some rules and you can get your bonus bet amount back if your bet was lost.
Wagering requirements being 3x at minimum odds of 2 / 5 or higher for the sportsbook. For Casino bet wagering is 25x bonus amount and only one bonus can be used at a time.
What Are 11/10 Odds
Check our article about Unibet promos.
Betting Odds Explained 10 11 15
Betfred: up to £60
If you don't currently own an account at Betfred, you can now create one and grab a £60 free stake bonus. This only applies to U.K and Northern Island residents.
Team B's odds are +120. You'll wager 100 to win 120.
Say 2 people place a bet, one for 140 on Team A, the other 100 on Team B.
Now, let's assume Team B loses (they were the underdog after all). So the bookie collects 100 from him.
But he still has to pay out the guy who bet on Team A. He owes him 100 bucks. Ultimately, he breaks even on this game.
If the action was too heavy on Team B, the bookmaker could face a devastating loss. And it does happen.
But to discourage that from happening, if the bookmaker noticed too much action on Team B, he'll adjust the odds to encourage more action on Team A.
That way he doesn't find himself too deep in the hole (preferably not at all).
Of course, had the game gone the other way, the bookmaker would've collected 140 from Team A. Then he'd have to pay 100 to the guy who bet on Team B, which would've resulted in a +40 profit (to the bookie).
The bookies goal is to have more days where he collects a profit than breaks-even, or loses …just like you.
How do you read American, fraction and decimal odds?
Sportsbooks list odds in 3 different ways. Most books will let you pick how the odds are listed – which you'll choose based on what's easiest to read/understand.
Most people will say that the easiest to read/understand are decimal odds.
But you can look at all 3 (with examples) and determine that for yourself.
American Odds
These are written in whole numbers with a plus (+) or negative (-) sign in front of them.
For example:
Team A: +120
Team B: -140
The plus sign means the team is an underdog, and that you'll need to bet $100 to win the amount shown. In this example you'd bet $100 to win $120.
Negative signs mean the opposite. The team is an underdog, and you'll need to bet the amount shown to win $100. In this case you'd bet $140 to win $100.
Fractional Odds
These are used most in the UK. They're written as fractions.
For example: 1.5/1
This would read like this: You bet $1 to win $1.50.
Decimal Odds
These are simple to read. These are just probabilities turned into percentages. All you do is take 100% and divide that by the probability of an outcome.
For example, say the outcome is 50%. You'd do this: 100% (total) / 50% (this outcome) = 2.0
Let's look at one more example…
Say the probability to win is 65%. The math would look like this: 100/65 = 1.54
Every unit you bet will earn you 1.54 units (using the example above). If your unit is $1, then if your bet wins, you'll win $1.54.
Simple, eh?
Conclusion
Like I said, odds are everything in betting.
Just re-read this page if you still don't see it yet.
For example, now that you know why sportsbooks' odds shift (all the time), you should now understand the importance of trends, stats, research, etc., as well as the importance behind line shopping.
And since you know how to read odds, you should be able to line shop and choose odds that will lead to the most profit should your bet(s) win.
Betting Odds Explained 101
Right?
And it's all because you understand how sports odds work.
It's very common today for many gamblers to go for online betting methods. There is a great portion of gamblers that search and exchange advice in online sports gambling forums to gather peer or expert opinions regarding a specific game. If you are smart and proactive, you have the chance to stake for free without sparing a penny, just by using free bet codes, all valid and tested for 2020
What is really a 'free bet'?
Contents
- 3 Breakdown of the 4 main bookies
A free stake is essentially a bonus stake that an operator grants you upon registration. Prior getting this bonus bet, you must first place a deposit and play through your funds. In case your bet has been deemed as lost, the bookie will refund you the total lost value.
In many cases, the funds granted by the respective bookie are subject to rules and conditions and you can not directly cash out the amount from your account, just a few minutes after you get it.
Be cautious as there is a difference between a free bet and bonus upon your initial deposit.
A typical bonus is a specific amount of funds you'll receive upon your first deposit. This is equal to a percentage based on the amount added by the gambler like 50% or 100% depending on the current special. By getting a free bet, you can also regain partially or fully the value of the bet you've played and lost.
What kind of promotion is more lucrative in ?
This a pretty tough question as different gamblers have different needs. In any given offer, there are strengths and weaknesses. A free stake allows you to add a large amount of funds in a single bet selection because you are backed-up in case that bet is lost. But if your pick win, you can then get a large amount of money from one shot. Only the free bet bonus though can recover back the value of your lost bet.
The typical bonus amount is given during the first stake irrespective of the outcome. It's not possible to win a large amount of money with a single shot, but you'll have to add more cash to wager on sports gambling. A seasoned player will most likely go for such offer because the rollover happens naturally and progressively.
Just like the rest of the specials, free stakes have both strengths and weaknesses.
The strengths are as follows:
- Any new user can opt for a free stake or a 100% cash match bonus during your initial deposit.
- If we compared this to traditional bookies, the value of your funds is 2X
- The bonus will vary depending on how devoted player you are
- In case this is your first time betting online, the free stake bonus will prove useful. You can only spare a small amount of your money and then take advantage of the bonus and the types of free bets on offer.
The weak points of free bonus bets:
- Free Bets are given only in case you lose your first bet
- You have to make a stake in a certain range of odds (e.g min). In case you've lost your first bet, you should rollover your funds many times before cashing out.
- Some operators also demand that you add bets in at least 3-5 games.
Breakdown of the 4 main bookies
Ladbrokes: £30 free bet deal
During adding your first bet with Ladbrokes, you can also receive a bonus worth.
To claim this bonus, you should first follow some terms and conditions–which are also the drawbacks that come with it.
You can't add a bet at odds below the ½ range to be eligible for your free bet bonus. An extra drawback is that initiating a deposit via Neteller, Skrill, or Paysafecard does not count for this special
Check out our article about latest Ladbrokes promos.
Betting Odds Explained 10 11 Odds
William Hill: from £10 to £40
After creating a user account on William Hill and placing your first deposit and wager £10, you will get £40 in the form of free stakes (4 bets valued £10 each) when you play via mobile using the promo code N40.
William Hill grants this bet special to new clients, regardless if that bet wins or loses. The only terms are either to add your first bet on choices with single or progressive odds of more than ½ and rollover bonus funds sometimes prior requesting a cash-out. This can be a bit of trouble as you'll have to repeatedly search for events at odds ½ or more.
Check out our latest article on William Hill promos.
Unibet: up to £40 money back bonus
New clients residing in the U.K are entitled to getting a £40 valued bonus as money back. Once you create and validate your account, you will then have to place a deposit and add your first bet.
Unibet has less strict and binding rules and conditions compared to other operators. Of course you'll have to consider some rules and you can get your bonus bet amount back if your bet was lost.
Wagering requirements being 3x at minimum odds of 2 / 5 or higher for the sportsbook. For Casino bet wagering is 25x bonus amount and only one bonus can be used at a time.
What Are 11/10 Odds
Check our article about Unibet promos.
Betting Odds Explained 10 11 15
Betfred: up to £60
If you don't currently own an account at Betfred, you can now create one and grab a £60 free stake bonus. This only applies to U.K and Northern Island residents.
Your first stake must be at least £10 in single or progressive odds at a 2.0 level or higher. In case your bet is lower or you don't follow the single/progressive odds, you bet will be deemed lost and returned. Also, if you add a deposit with Neteller, Skrill, UKash or Paysafe, you won't be entitled to claim the bonus.
Free stakes are a great catch for newbies but some may not give out direct profits. Even if you get something for free, there is always a hidden rule or cost behind it.
Check out our article about late Betfred promos.
Check out also Paddy Power for free bet bonus…
Last piece of advice: check out live betting sites as they have awesome value specials that are more generous there including free bet bonuses.
