How do betting odds work?

Betting trends

It is worth starting with the fact that betting is now one of the most popular activities. People from different countries are fond of this activity because today it has become even easier to place bets on sporting events. In the last decade, betting sites from all the world’s favorite betting brands began to appear.

Moreover, a new trend is being introduced among bookmakers – to develop mobile betting applications. This solution contributes to the greater popularity of betting, as well as greater user comfort.

However, to become a lucky bettor, it is not enough to choose the correct platform. You also should have some package of knowledge about betting: types of it ( moneyline, parlay bet and others), chief markets, odds, and so on. Betting odds are one of the most important options on this list, that’s why we prepared this article about their peculiarities.

Are betting odds important?

Are betting odds important?

As we have noted, odds betting are of the greatest importance. The reason for this is that they influence your winnings in case of a lucky bet.

First of all, let’s get familiar with the betting odds meaning. Odds betting are values that indicate which events are more likely to occur and which are less likely to occur. They also symbolize how much money you’ll make if this or that happens.

There are several kinds of odds in betting. If you want to become a professional bettor, you have to understand them and how to read each of these types. By understanding betting odds, you will be able to earn a lot after placing a bet.

TypeCharacteristic
Fractional (British) oddsDisplay the wins as a percentage of the bet
Moneyline (American) oddsShow the amount of money needed to win 100 units or the amount one may win for every 100 money units gambled, depending on whether the sign is favorable or unfavorable
Decimal (European) oddsReveal the amount won for each unit wagered

Below, in this article, you will know how betting odds work, how to read them and get acquainted with the sites with ideal sports betting odds.

How do betting odds work?

So, how do betting odds work? This question is number one while getting familiar with this topic. As our first paragraphs of this article about betting odds explained, these are the numbers, which show the likelihood of this or that outcome of the event. At the same time, odds also influence your profits from successful bets.

Thus, after choosing a particular sporting event to bet on as well as a type of wager, you will have to click on the odds you are satisfied with. They can be demonstrated in various ways according to the diverse types of them written above. Most often, bookies provide decimal odds, which are easy to understand.

How to read betting odds?

When you have realized how betting odds work, it is time to learn how to read betting odds. We have already noted that it depends on the type of odds you choose. That’s why, below, you may see the detailed difference between reading three main kinds of odds.

  • Decimal odds: the percentage possibility of a certain event is divided by 100 to get decimal chances (100/percent chance = decimal odds);
  • Fractional odds: the odds are expressed as a fraction. If we take 3/1, this suggests that for every 4 occurrences (3+1), a terrible outcome will occur three times, while a happy outcome will only occur once. Another way to look at it is to glance at the ratio of losses to triumphs. Calculate your profit by dividing the numbers by your original stake;
  • Moneyline odds: (+) or (-) is the standard notation. A plus sign (+) indicates how much money a 100-unit bet will earn. The amount of money required to earn 100 units is indicated by a negative sign (-).

Bookies with excellent odds

Bookies with excellent odds

Sometimes it is too difficult to find beneficial odds. Understanding betting odds as well as benefiting from them is vital to betting without losses. We have compiled a list of bookies with amazing odds for you. You will see their descriptions below. But if you want to find such a bookie with great odds by yourself, you should keep the next point in mind:

  • Examine and comprehend the differences between various odds. It will enable you to make the best option possible when selecting a lucrative one for a certain occasion. 
  • Examine the odds offered by several bookies. They rank the same occurrences differently, which is why they are higher in some places and lower in others. 
  • Choose a sport about which you are knowledgeable. Thus, you’ll know what the odds are here without different rates of bookies.

Now let’s glance at the bookies we have chosen for you.

Parimatch

There is no more popular bookie than Parimatch. The thing is that the company was developed in the previous century. Thus, it had enough time to become one of the world giants in the sphere of sports betting. For the same reason, you can find so many sporting events in its line. There is soccer, cricket, hockey, racing, MMA, and whatnot!

The company has a live version of betting, which will be interesting both for beginners and experienced bettors. But for newbies, it will be even more useful because, in this mode, it is easy to win: you watch the match and can predict its outcome with your bet at any moment until its end.

We chose this platform because of its high odds. On average, they are 2.0 and more. But, of course, there are some events, on which the odds are 1.5 or even less. However, the average odds show that this brand provides profitable conditions.

Melbet

Melbet is another company with a world-known name. It also has tons of diverse sports for betting starting with classic soccer and ending with unusual kabaddi. Here a user will also have a chance to try live wagering.

The company offers an innovative betting market known as esports. People may watch their adorable games like Dota 2, League of Legends, and so on, and bet on them.

What about the odds? How does betting odds work in Melbet? Here you will get quite beneficial odds, they are presented in their classic decimal form, however, you may switch it to another type. On average, they are from 1.2 to 1.8.

Bet365

This company is famous in the Asian region most of all. People from these places trust it and consider it an excellent bookie platform. It is designed magnificently: with green and white colors as the main ones. This attracts new bettors, so the company is used by thousands of them every day.

Here you will be able to place a bet on horse racing, basketball, UFC, volleyball, and whatever you wish.

The odds here are from 1.4 to 19.0. It means that the brand’s rates are very profitable.

4rabet

4rabet is the very brand, which offers all popular worldwide events. Here you will be able to place a bet not only on some world championships but also on some local competitions in your country, especially if you are from an Asian country.

The company has both line and live wagering. Everyone may choose the one type he or she likes the most. Furthermore, the brand provides lots of promos with diverse prizes (money, gadgets, cars). You can become a lucky user and receive something expensive.

The company’s odds are pretty beneficial, that’s why we have included it in this article, respectively. So, most of the sports betting odds here are 1.5 – this average is enough to be called profitable. Also, some events are a lot higher evaluated as well as some are lower.

1xbet

Visiting 1xbet at first, you will become a loyal user. This is because the company’s conditions are so cool that you won’t be able to leave it. In addition, here sports betting and casino gaming is equally popular. Usually, bettors play some casino games to diversify their sports betting routine. Both for gaming and betting, a live mode is available.

The brand offers amazing odds. Lots of them reach 10.0 and some of the events are even higher.

Conclusion

Summing up all the information provided in this article, we do believe that we answered your question “How does betting odds work?” and this review of betting odds explained to you how to read them and where to find the excellent ones. After reading this review, you should have realized a betting odds meaning. Read other our articles about betting in Gambling guide. Now choose any betting site from our article and start wagering with beneficial odds right now! Break a leg!