Often, people who participate in sports betting for the first time may not know that there are 3 different kinds of odds. Those who are experienced however are aware of this.
Before you place your bet in the UFA, you must understand the difference between these 3 main types of odds and also must learn how to use them in a proper manner. Otherwise, it may end up as spending your money passively only to pass your time, when there may be many other entertaining and inexpensive methods to do so.
The following are the three different categories of odds used in most sports betting.
- Decimal odds
This is the most popular category, used in Europe. It is also offered by any serious bookmakers worldwide. The odds will represent how much money that you can win by betting 1 unit.
Often a few bookmakers may offer odds in 2 decimals for greater accuracy. As an example, if the odd is 2.15, if you win then you will get 2.15 times your bet money.
- Fractional odds
This category is used mainly in a country like the UK. Fractional odds will show the player about his gain after he bets any unit. For example, the 2.15 the equivalent value for the odds will be 23/20. This will mean that if you try to make a bet of 20 euro, then you will earn a profit of the amount of 23 euro.
- American odds
Here, if your odds are positive, then it will show a net profit that is based on your bet of 100 euros/dollars. When the odds will be negative, then it will show how much you should bet for winning 100 euros.
For example, if it is -110, that means to win 110, it is necessary to bet 100, and your total return then will be 110+100=210 euros/dollars.