A Beginner’s Guide to Fractional Odds in Sports Betting
With online and mobile sports betting in Canada, or anywhere else in the world, there are a lot of elements to consider. The more time spent at the high-quality sites for sports betting Canada has to offer, the more insight you’ll have into all of these. Factors that will help you bet and win big include your understanding of the sport you are betting on, the wagers you are placing, and the odds that you’re working with.
Since our aim is to ensure that when they are sports betting CA punters enjoy the best possible time, we try to bring you all the information that is necessary to make that happen. This includes explaining different games and bets, reviewing the best mobile sports betting sites and their online counterparts, and, of course, explaining the different ways that odds can be expressed. Fractional odds are one of the main ways of doing this in sports betting, so understanding how they work is critical.
Easy to Understand Odds
Fractional odds are very easy to understand, meaning you can devote your time sports betting to what they actually mean for a game’s outcome. In the same way that it is easier to read complicated literature and understand the concepts behind it if you are fluent in the language in which it is written, if you can take in the data that the odds are telling you quickly, you can spend more time analysing it and deciding what your next move should be.
The Way Fractional Odds Work
In sports betting, odds refer to the probability that an event, such as a specific team winning, will occur. Fractional odds are expressed in the following formula:
Probability (%) = B/(A+B)
Odds of 4/1, for example, mean that the probability of whatever event they are odds for is 1/(1+4), or 1 in 5. In other words, there is a 20% probability that the outcome will happen. A lot of people find it helpful to think of it as 1 chance that it will happen and 4 chances that it won’t, with a total of 5 possible results for the event.
Calculating Potential Payouts
You can also use the fractional odds that are given to you by the sports betting CA site of your choice to figure out how much you will win if your wager is successful. Following the fractional odds formula, for every B-value you will win whatever B is in coins, plus your original stake.
This means that if the odds are 4/1, you’ll win 4 coins for every coin you bet, plus your original wagered coin back. If you win, you’ll get paid out 5 coins for every 1 coin that you put down, in this example. Understanding what you might get paid out and what the likelihood of the event actually taking place is, helps you to evaluate whether the risk is worth the potential reward.
When you are considering this, of course, your knowledge of the competitors, the playing field, the conditions and any other information you can find, as well as the nature of the bet itself, should all be reviewed as carefully as possible. And if you happen to have any insider tips, they should be remembered too.
See Fractional Odds in Action for Yourself
Now that you’re a little more familiar with fractional odds, you can start applying what you’ve learnt! Try the sports betting sites that we recommend for the best service and payouts that you’ll find in Canada, first with smaller amounts and, as your knowledge and understanding grows, with larger sums for bigger windfalls.