Post by tarik on May 6, 2019 16:01:27 GMT
Great article, it is really worth your attention! ESSENTIAL READING!
UNDERSTANDING THE BETTING ODDS
The world of betting can be a scary place. Odds, fractions, decimals, handicaps and the rest, punters need to be familiar with what they are staking their cash on. Odds, however, are arguably the most vital ingredient to understand when you are cooking up your recipe for success.
WHAT ARE THE BETTING ODDS
The odds are crucial in betting. They represent how likely, or unlikely, an event is to happen, and therefore, what your potential winnings are. Whether it’s worth your while to place money on a particular bet is entirely dependent on the odds and what value they represent.
Let's consider the probability of an event happening. A 6-sided dice is rolled: rolling a one, two, three, four, five or six are all the same probability – 16.67%: a one in six chance of correctly guessing the number the dice will fall on.
Bookmakers offer this probability on events based on how likely they are to happen. By using a fraction or a decimal, these odds represent the value of the bet; it’s then down to the punter to decide whether or not to stake money on that bet.
When it comes to sport, odds can be interpreted in many different ways. It isn’t like a dice having six outcomes - all just as likely as one another – but more a prediction from the bookmaker of how likely that event is to happen. It’s not always easy to predict the unknown and a skilled job that requires a lot of homework for that particular market; however, if you think you know better, it allows you make money betting on an event to happen which you think is more likely than the bookmakers do.
gamblescope.com/betting/sports-betting-knowledge-base/understanding-the-betting-odds.html
UNDERSTANDING THE BETTING ODDS
The world of betting can be a scary place. Odds, fractions, decimals, handicaps and the rest, punters need to be familiar with what they are staking their cash on. Odds, however, are arguably the most vital ingredient to understand when you are cooking up your recipe for success.
WHAT ARE THE BETTING ODDS
The odds are crucial in betting. They represent how likely, or unlikely, an event is to happen, and therefore, what your potential winnings are. Whether it’s worth your while to place money on a particular bet is entirely dependent on the odds and what value they represent.
Let's consider the probability of an event happening. A 6-sided dice is rolled: rolling a one, two, three, four, five or six are all the same probability – 16.67%: a one in six chance of correctly guessing the number the dice will fall on.
Bookmakers offer this probability on events based on how likely they are to happen. By using a fraction or a decimal, these odds represent the value of the bet; it’s then down to the punter to decide whether or not to stake money on that bet.
When it comes to sport, odds can be interpreted in many different ways. It isn’t like a dice having six outcomes - all just as likely as one another – but more a prediction from the bookmaker of how likely that event is to happen. It’s not always easy to predict the unknown and a skilled job that requires a lot of homework for that particular market; however, if you think you know better, it allows you make money betting on an event to happen which you think is more likely than the bookmakers do.
gamblescope.com/betting/sports-betting-knowledge-base/understanding-the-betting-odds.html