Understand The 3 Special Types OF Online Betting Odds

 Online bookies, punters, and other gamblers can always be found surrounded only by one thing: the betting odds. You can see the ubiquitous odds in the betting world on both the booking coupons as well as on the online booking websites. What are booking odds? And why should punters be concerned about them? A booking odd is simply a number that indicates how much you can win for a given stake. A lower odds of winning means that you have a better chance of winning. Online bookmakers are usually concerned with three types betting odds. The odds offered by the bookmakers vary depending on which market they are targeting. They can offer odds that are decimal, British, or American. Online bookmakers let punters choose the odds and format. VaoFun88

Let's take a closer look at each type of betting odds.

1.) Decimal odds are the most popular and common format. This format shows the amount of units the bookmaker is willing to pay for each unit staked. This odd can be presented as either 2 decimals or 3. This example will help you understand things better:

The odds of winning a football match between Arsenal and Chelsea are 1.50. You place a $200 bet. The payout is $200 x 1.50 = $300. You can make $100 profit (300-200). It's almost a child's game to calculate, isn't? This is why this format is so popular.

2.) British odds: These are the odds that you will make if you place a bet. This format is preferred by UK bookmakers as it is easy to convert to decimal odds. Simply add 1.

You have placed $200 on Liverpool vs Manchester United. The odds are at 4/5. The payout is $200 X (1+4/5) = $360. You make a profit $160.

3.) American odds: American betting odds are very different from the other formats. It is composed of two types of odds, viz. Positive (200) or Negative (-200). This odd is only used in America, and it is not very common in European Soccer betting.

Understanding the three types of odds above will allow you to better understand the odds and help you place your bets in a more prudent way.