When it comes to online sports betting, it is always recommended to get well-versed with all the common but important relevant terminologies. To become a professional punter, it should not be considered merely a form of online gambling that offers great fun, but pay attention to all things associated with sports betting.
Before you struggle to become a successful sports punter, it is essential to understand what is odd and how to get them in your favor while placing a wager at reputable betting sites such as Betway, 10Cric, etc. This is what you cannot overlook to ensure improved winning potential.
What Do You Mean By The Term Odd?
Odds simply refers to the possibility or likelihood of occurrence of a particular outcome. In sports betting, it is defined as the probability that a specific team or a player will win. Besides the winning possibility, odds also help in finding the payout for each bet. For example, if you are placing a bet on your favorite cricket team, then determine cricket betting odds for both teams participating in a specific match.
How To Read The Odds?
There are 3 main sports betting odds format –
- Decimal – It shows the potential return of a bet.
- Fractional – It shows the profit amount you’ll get for a winning bet.
- American – This format is represented in either a positive (+) or negative number (-). A positive number means how much you might receive as a profit based on a $100 bet. A negative number or symbol shows how much you must place in a bet to receive a profit of $100.
Please note that online bookmakers give odds as an estimation of how common people will place the wager. They are not the true reflection of your winning potential. So, don’t depend on them totally even do thorough research, analyze stats, and make bets while considering all proven strategies and tips.