A classic private bet between two parties usually consists of a bet. You are betting on a fixed amount of money, on who will do the dishes next week, or simply "for your honor." Bookmakers can make it easier for themselves the task of Betika online betting. You accept a bet for a certain amount. And either they pay it to the player if his prediction is correct. Or they take the money if the outcome of the proposed bet does not come. In sports betting, this is a little more detailed. Here players also place bets. The counter offer of the bookmaker in this case is the odds of the rates shown. So, how likely is it that the bookmaker will keep the correct outcome of this sports bet. And that is precisely the appeal of betting.

Betting odds, probability and risk

Players enter literal competition with the bookmakers by placing a bet. Your goal is primarily two things: to achieve the highest possible estimate, but also to be correct in your estimate. This is a great art. And mastering them is not so easy. Because, of course, the temptation to bet on them is very high. On the other hand, of course, the higher the odds are, the less likely it is that the outcome of a game, competition, or other event will actually happen. Of course, it's easy to argue “for your honor” with a friend that the Faroe Islands footballers will play a draw with the German national team. With bookmakers, such a bet will surely provide high odds. But, of course, it’s another matter when your own money suddenly comes into play. Then each player will definitely think twice, or even better, whether he really wants to bet on such an outcome.

Therefore, when it comes to betting, every gambler should remember that bookmakers also want to make money and calculate their odds. Of course, sometimes the player can get lucky with risky advice - no question. However, he may also be unlucky with a supposedly "correct" prompt with a low coefficient. Therefore, before placing a bet, it is important to carefully analyze the matches and events and their odds. We'll look at this in more detail later. Now that the basic ideas of odds for sports betting have been explained, a few words about how odds are presented by the bookmakers are overlooked.

Betting odds presentation

Basically, an event, whether in football or another sport, is represented as follows:

Hamburger SV - Werder Bremen: 1 1.50 - 3.45 2 6.30
We're talking about a 3-way bet. Decimal numbers such as 1.50 represent odds. The comma is often replaced by a period in the form of 1.50. The numbers "1" and "2" are abbreviations for the outcome of this game. “1” means home win, in this case HSV success. “2” for an away win, which means Werder Bremen won. "X" - you guessed it - means a draw. In many cases bookmakers use the number "0" instead of "X". Both mean a draw.

Of course, there are also sports that don't have a tie. For example, tennis. Then this outcome ("X" or "0") is simply absent and they speak of a two-way bet. However, this should not be confused with a sport in which a decision is made with certainty, whether overtime, in the event of a sudden death in hockey, or on penalties. Because, as a rule, that is, with a classic bet of 3 outcomes, bets are made on the outcome after the main playing time. So, about the result before extra time and penalty shootout. So a tie is always an option. Other betting options such as "1" on Hamburg after renewal, if offered, are formulated differently by the bookmakers.

Exotic forms of betting

The display of odds for sports betting as decimal numbers, whether semicolon or full stop, has become especially popular in non-UK European countries. Ultimately, they are the most detailed, so bookmakers can sometimes put very "crooked" odds into the race, for example 1.43. In the UK, home of modern sports betting, odds are still set as mathematical fractions. If UK bookmakers have odds greater than 1/2, the odds will be around 1.50. “Translated,” and in common parlance, this means: you get your contribution and half of it. A factor of 2.00 will be 1/1 - often the same as EVS is indicated - is presented. Thus, your stake will be paid out again. Your profit has doubled. The 2.50 odds are 3/2 as a fraction. You receive your bet and three halves are paid.

In the US, odds are again shown differently, namely in the hundreds. Assuming the rate is $ 100, the positive amounts indicate how much net profit (net profit) is added to the rate paid. Accordingly, the coefficient 2.00 is displayed as +100. This means nothing more than that the player gets his $ 100 bet plus $ 100 of profit. With a factor of 3.00, the US representation will be +200. Mathematically, things get a little more complicated when the odds show a negative amount. This then means how many USD must be wagered to make a net profit of USD 100. So -200 means a probability of 1.50. In other words, if you bet $ 200 at this rate,

Another representation of quotas has appeared in the Asian region, which, in principle, corresponds to the European one. However, only the profit is displayed here, not the rate. Accordingly, a rate of 0.50 is equivalent to a rate of 1.50. Or a rate of 1.00 means a European rate of 2.00. There are also several other forms of representation in Asia, which, however, are out of scope at this stage and which European players are unlikely to face anyway. In short, they are a mixture of the one presented here and the American version.

Conclusion: summarized all the information about the odds of the rates.

In continental Europe, odds are displayed as a decimal number.

“1”, “2” and “0” mean home win, away win and draw.

"0" is sometimes replaced with "X".