Sports Betting Types ABC
Sports betting types have existed for some time. We are diving deeper into Asia bets, single bets, and multiple bets.
In this article:
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Sports betting odds
What Sports Betting Odds are outa’there?
Betting in an odd format can be confusing, and most players have their accounts set to one of the major formats available. We are looking into fractional, decimal and American odds. In terms of winnings per bet placed, the outcome is mostly similar. However, knowing the most popular odds formats in sports betting is an advantage.
What is the decimal odds format for betting?
Decimal or European odds are the most popular and user-friendly because their conversion is easy to calculate. They include the total payout, making them easy to understand. Let’s look at examples of decimal odds.
Example A )
FC Chelsea is favourite to win against Reading FC. The odds are against Reading FC with Chealsea to win. A player is placing a bet slip with decimal odds 2.6 for Reading to win. A modest bet of $10 is quickly calculated to return $26, which means a profit of $16.
Example B )
FC Bayern Munich is the underdog against Real Madrid in a tight Game in the Eurpean Champions League. Madrid is expected to win. A player is placing a bet for FC Bayern to win with odds of 1.5. Placing a $10 bet slip, expecting a modest profit of $5. The total return for this decimal bet are $15
What is the American odds format?
How do you Calculate American Odds in Sports Betting? The answer is not quite as simple, and it is paramount to understand the calculations. Any American Odds in betting are centred around a $100 wager. This does not mean a player has to bet that amount. It only stands as a central amount to calculate the return. Here are two examples of how players should read and understand moneyline bets. Moneyline bets, or American odds, are calculated with positive and negative odds because it will determine whether you want to wager or how much you want to win.
Example A )
Player A wants to bet $100 with +200 odds. This would, in simple terms, reflect a 2.0 format. Betting $100 would make a total return of $200. To win a certain amount, positive odds should be chosen.
Example B )
If Player B chose odds -200 and wanted to win $100, player B would need to bet $200 for a total return of $300.
What is fractional odds format?
Fractional odds are popular within the horse racing community and are pretty easy to calculate alongside decimal odds. All a player has to do is to divide the fraction and multiply by its bet amount. Here are two examples of how to calculate Fractional odds.
Example A)
Player A has chosen odds of 11/2 to win in a race. The bet amount is €5.
11 / 2 is 5.5. So for each €1 he will receive €5.50. Player A would have a total of €27.50
Live Bets - What You need to know
Live Bets are the most popular, engaging the player directly with the live sports event. A bet is placed once the competition has started, and the bet is settled by the time the event is over. It is important to know that some bets include full-time and extra-time. In most cases, however, full-time is relevant and excludes any extra or added time. For football scores, penalty shooting is excluded, e.g., given.
What other sports bets are out there?
Single Bet—Outcome Bet on a team, event, match, or person participating in an event. The moneyline bet is the equivalent name commonly used in the NFL and NBL.
Accumulator bet—This bet is for more advanced players. All parts of the bet are built up to a total odds factor. Events can be picked from several competitions and events. Also known as doubles ( two sections ), trebles ( three sections) and so on.
How do I calculate a treble accumulator bet?
A player has bet $20 on three events: Soccer ( 1.5 odds ), Tennis ( 1.8 odds ), and Ice Hockey ( 2.5 odds ).
$20 Stake * (1.5+1.8+2.5 equals Total odds of 5.8
How does the player win this bet? He needs to wait for all three bets to be settled. All three bets must win in favour of the player.
Bet Builder – is similar to accumulator bets, but a player chooses outcomes from the same event here. All bets must be settled and won to claim the bet slip. Variances are known as Trixie (Betbuilder with four bets, with 2 out of 4 outcomes need to be won), Patent and Yankee are working the same way, but have more selections and options.
Handicap bets and point spread bets are set from the platform, and a player can choose to bet over, under, or even.
How do I calculate point spread bets?
Bayern Munich is Playing Real Madrid. Bayern is the favorite to win. The spread offered is Madrid +3.5 with odds 2.5
Munich -3.5 with odds 2.5. Player A chooses Madrid. Munich needs to win with four or more goals to win this bet. If Munich scores less than four or loses, the bet is lost.
Cash Out Bets
Cash-out allows a player to settle the bet slip before the competition is finished. It is necessary to know that not all live bets or bets offered include the option of cash-out. To cash out, the event must still be ongoing ( live event). However, the odds from your original are lower. Reasons for cashouts can be: Player injured during the game, possible favouring the opposite team, natural influences ( rain, snow, wind, darkness), Player exchanges, Red cards, penalties)
Betting on events, political events and Other Bet types
Future Bets, also known as outright bets, are bets on events including:
Sport – Who will win the Top Table, League, Season, Best Player Award, Top Scorer, and so on
Political events, Social events, Awards – Presidential Elections, Voting in Elections, Industry Award
Other types of betting are prop bets, side bets, IF, and reverse bets. Bets are available in large numbers, and players can choose from plenty of odds and betting platforms.