Bet And Win On A Wide Range Of Sports At 888 Sport India – Knowing how to understand and calculate odds is something that anyone who is betting should take the time to learn. The odds reflect the likelihood of your selection winning in the eyes of the bookies and how much money you stand to win if your bet is successful.
Although betting odds can be confusing at first, our comprehensive guide will ensure you understand how they work and can make more choices in online gambling.
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Odds are compiled by bookmakers as a way of representing the probability of an event or events occurring.
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These odds are represented as fractions (2/1) or decimals (3.0), which are used in the UK and Europe. There is also Moneyline or American mode, which means that a number has a plus or minus in front of it (+200).
Betting fees apply to every event on which bets are placed, from horse racing and football to TV specials and politics.
The probability is that something will happen. If the bookmaker has an outcome of an event with high probability, it is more likely not to happen. If the event is thought to have a low probability, then it is more than likely to occur.
Bookmakers in the UK usually display the odds as a fraction, which would be two numbers separated by a hyphen (eg 1/2).
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A very simple explanation of probability would be a coin toss, in which the two possible outcomes are heads or tails. The probability of getting heads is one in two, and the probability can be represented as 1/1, which means that the outcome has a 50% chance of winning. In this way, bettors can use betting odds to decide how likely bettors think an outcome is to occur.
Now that you know that probabilities are two numbers separated by a slash, you can use them to analyze the probability of an event occurring.
How to calculate the probability (in percentage) from the coefficients is most easily explained by taking the two numbers that appear in the coefficient and replacing them with letters. So for example 2/1 becomes A/B. The calculation is: Probability (%) = B/(A+B).
Now that you know how to determine the probability of an event, you can use betting odds to determine the potential returns if you place bets.
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Fractional odds show you the potential winnings for the bet you place on the bet. For example, if you bet £1 on West Ham to beat Tottenham at 4/1, it will pay out £5 if successful (£4 profit plus your £1 stake). See below for more examples of reading betting odds.
Any probability that the first number is greater than the second is against any probability that the first number is less than the second. Events with odds are considered more likely by bookmakers, and vice versa for events with odds.
When converted to decimal numbers, the potential winnings include the bet, so you simply multiply the bet by the odds. Betting exchanges such as Betfair often use decimal odds because the user controls the odds instead of the bookmaker. Here are some examples of how to read decimal betting odds.
Although fractional odds and decimal odds are the most common way for a bookie to display their prices on an event, it is still useful to know how the money line or American version works.
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Let’s go back to the coin toss example, where the odds of heads and tails are even before either 1/1 (fractions) or 2.0 (decimals), meaning that a £1 stake will return £2 (£1 plus £1 profit ). 1 participation).
Heads and tails results in American or money odds would be expressed as -100 or +100. And 100 is the key number, which we will illustrate with another example. This time it’s an American football game and the American odds/moneyline are:
If you think the Miami Dolphins will win, +130 means you will win £230 for every £100 you put on them (£130 plus your £100 stake). A £10 bet means you will win £23: your £10 stake and £13 profit (calculated as £10 / £100 x 130).
A minus on the New England Patriots odds means they are the favorite and the calculation is different. -145 means you will win £100 for every £145 you bet. So if you bet £10 it would return you £16.90 – your £10 stake plus the £6.90 profit (calculated as £10 / £145 x 100).
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This is our complete overview of how betting options work, so now you know how to read the odds, how likely you are to win bets based on the odds and what your potential winnings are.
Now you are ready to start betting and if you want to open an account with a bookmaker, you should take advantage of the incredible customer offers available on the free betting site.
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Bettingexpert is committed to responsible betting. Juvenile gambling is a crime. Please play responsibly and only bet what you can afford. For help, advice and support for someone with a gambling problem, contact the National Gambling Helpline on 0808 8020 133 or via NetLine. This service offers advice to people struggling with the game in different languages. If you are concerned about your or a friend’s game, please visit BeGambleAware.org Getting inside a player’s head is dangerous. Especially with James P. Adducci, the 39-year-old Wisconsin man who bet $85,000 on Tiger Woods to win the 2019 Masters at 14-1 odds and won $1.19 million — golf’s biggest payout on a futures bet. William Hill in sportsbook history. How could anyone, let alone a guy who doesn’t have his own house and knows what it’s like to work for little pay, give that kind of money to a golfer who hadn’t earned a degree in 11 years?
What’s even more remarkable about Adducci is that he decided an impossible salary wasn’t enough. On the Tuesday before PGA Championship week, he flew to Las Vegas to make another big bet: $100,000 on Woods to win the three remaining 2019 Grand Slams at 100-1 odds. Adducci withdrew the money from the same bank and kept $32 in the same Walmart backpack he used for the Masters bet. William Hill USA’s confirmed bet would be $10 million, the largest in the company’s history.
If that sounds like the logic of a seasoned bettor, consider that Adducci says the Masters bet was his first sports bet. The weightlifting enthusiast once bet $3,500 on Arnold Schwarzenegger to win the 2003 California gubernatorial election and doubled his money. That bet, Adducci says, was based on one of his favorite Schwarzenegger movies, the 1977 documentary “Pumping Iron,” in which the actor predicts future political conquests.
How could a guy with a taste for heavy action wait so long to make his first foray into the sport? And then, of all things, make golf betting so incredibly awful?
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I visited Adducci, where he lives, in a small two-story house in the town where he grew up with his father, La Crosse, Wisconsin. The bright green carpets and pink tiled bathrooms have never been updated. During the final round of the 2019 Masters, the 5-foot-10, 280-pound Adducci watched his assets unfold as he sat in a wooden rocking chair in his mini car. He yelled and screamed at a 25 inch TV. Next to him, on his armless back, the 82-year-old sick father rested and fell asleep.
“I think it was a bad bet,” laughed Adducci’s father, James C., a week later. Recently he has had health problems and has trouble walking. However, the elder Adducci recalled stories from his time with the University of Illinois golf teams in the late 1950s, when he lettered for three years. His face lit up when he talked about caddying at Chicago’s Olympia Fields Country Club and playing in the PGA Championship there in 1961.
“There’s a shot overlooking the 18th green, and if you look closely, you’ll see a guy lying down. This is me.”
In 2014, Adducci moved in with his parents to help care for his ailing mother (Nancy died in 2016) and is now doing the same with his father. Part of the reason for the bet, the son explained, was to see him play with his father. That’s nice, but many golfers enjoy watching the Masters with their singles without the million-dollar payout.
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The day after William Hill’s US press conference