How A Make A Winning Bet On Football?

Posted by mark taylor on November 16th, 2017

There are many sportsbooks available online, and if you want to place the winning bet, you have first to understand the concept of odds and how they work. When it comes to betting odds in sports, they are an indicator of how likely an event is about to happen. They also tell how much money you may win or lose. They might seem very complex at the start but if you are serious about betting you must learn about them. Once you have learned about it, you may read the Odds For Colts To Win The Super Bowl. So let’s see the basics first:

Probability

At the basic level, betting provides you with the know-how to predict the outcome of the event. If your predictions are correct, you may win the money. For any event that is given, there may be a certain number of outcomes. For instance, take the dice, for example, there may be six possible outcomes. When you roll a dice, there are six possible outcomes. So if you bet that the person rolls a ‘one,' there is 16.67 % chance that it will happen. Betting odds provide you with the information on how likely the event may happen. Sometimes they are also presented with decimals.

Making Use Of The Betting Odds

What are fractional odds? Whenever you see two numbers that are separated by a trailing slash like 10/1, it is called fractional odds. You can easily calculate how likely a given event will happen. Let’s see some calculations first:

•    9/1 can be calculated as 1/(9+1)=0.10- It means there is 10 percent chance that the event will happen

In the same way, 4/1 can be calculated as one/ (4+1) =0.20- it means that there is 20 percent chance that the event will happen.

And How Do You Calculate Winnings?

With the help of betting odds, you can easily calculate how much money you are going to win if you make a bet. Let’s understand it with the help of an example as under:

•    Fractional Odd is 9/1- It means that for every bet, you will win USD 9.

In Summary

Knowing the fractional odds is helpful in many ways. You can easily calculate how much have you may stand to win you bet on a particular amount. Just see the odds for colts to win super bowl and calculate how much you may win.