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Sports Betting Odds

Understanding betting odds is the first step in placing a successful bet online. Odds are essentially the chance of something happening expressed in numerical form, and odds for reflect the possibility of an occurrence, while odds against reflect the likelihood that that occurrence won’t take place.

The best mobile sports betting sites offer competitive odds for a variety of different markets, but this doesn’t mean much if you don’t know how to read the odds and quickly convert from one type to the other.

If you are just starting out, the first step on the road to becoming a successful punter is knowing and understanding the 3 main types of betting odds.

American Odds

Depending on the type of sport and where the match is taking place, online sports betting sites will display the odds in one of 3 ways. The first type of odds is called American odds. These are usually displayed with a plus or minus sign followed by a number such as +110 or -115. You will find these odd with American football, baseball, basketball and ice hockey.

The easiest way to understand these types of mobile sports betting odds is to look at the sign. If there is plus sign, you can win more than you bet. If there is a minus sign, you have to bet more than you can win. In the above example, a +110 bet means for every $100 bet, you can win $110. On the other hand, a -115 bet means you have to bet $115 to win $100.

Fractional Odds

The second type of betting odds you will come across is fractional betting. Sports betting CA sites often use fractional odds with major sports like tennis, cricket or rugby. Fractional odds are also popular in the UK with horse racing. These types of odds are expressed as two numbers with a divisional sign such as 4/1 (four to one). To understand the implications and payout of the odds, we simply look at how the number relate.

In this example, you can win 4x your original stake. So, your stake was $20 you can win 4 x $20 = $100 plus your original stake of $20 for a total payout of $120.Another example of fractional odds is 1/5. In this instance, you can win 1 fifth of your total stake. If your stake is $20 you can win $20/5 = $4. You total payout is then $24.

Decimal Odds

Online sports betting in Canada gives punters the opportunity to bet on both local and international sports. Decimal odds are most widely used in Australia, New Zealand, and Europe, and in some parts of Canada. In some ways, decimal odds are the easiest to understand in that the payout information is already provided in the numbers themselves. Decimal odds are usually displayed as a number with a decimal such as 2.00 or 4.20.

The easiest way to calculate your potential earnings is to place a monetary value in front of the odds themselves. So, 2.00 becomes $2 and 4.20 becomes $4.20. In online sports betting terms, this simply means that for every $1 you bet, you can win $2 or $4.20. The higher the number, the more you can win. If you want to calculate your total payout, multiply your stake by the number. For example, a $20 stake on 4.20 odds equals $20 x 4.20 = $84.

Now you know how to calculate odds, you can start betting at the best mobile sports betting sites Canada has to offer!