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Odds

It is the number that indicates the benefit that is obtained in case of winning the bet. It can be expressed in different ways, being the most usual decimal odds.

Today’s entry I want to dedicate it to those people who are starting in this of the bets, so that little by little they will have more knowledge about the many aspects of this sector. On this occasion I want to talk about something as important as odds, where I will highlight several aspects that I think are quite interesting.

Odds are the benefit that we will receive for each euro wagered in case we correct the bet. That is, if we have bet € 10 on the victory of a football team that has € 2.5 odds and this is the winner, in total we will charge € 25, of which € 15 will be our benefit.

Types of odds

Although in most cases you will find decimals, it is important that you know the different types of odds, which are:

Decimal: They are the usual odds in the European continent. They express the gross profit that would be obtained by the euro wagered. For example, 3.00 odds means that for every euro wagered we would get three (the euro bet and two net profit).
Fractional: it is the traditional format of the United Kingdom. They are expressed as a fraction in which the numerator indicates the net benefit and the denominator the amount to bet. For example, a fee of ¾ implies that to obtain a benefit of 3 euros it is necessary to bet 4 euros.
American: as its name indicates, it is typical of American countries, especially associated with American bookmakers. They have the base of 100 dollars as a reference. When the odds appear with a positive sign “+” it indicates the net profit that is obtained by betting 100 dollars. For example, +200 odds means that we will earn $ 200 for every 100 that is wagered. When the odds appear with a negative sign “-“, it refers to the amount that is necessary to bet to obtain 100 dollars. Odds of -200 mean that it is necessary to bet 200 dollars to win 100.

Why do odds vary?

Those and those who are beginning to bet will see how the bookmakers are changing their odds, but this is not because they want to. The more people who bet on the same team or the same result, the odds will be lower.

Knowing this, it is best to bet as soon as possible by the team that we believe will win the match. Once the bet is made, we will not have to worry if the odds go down or not, we will have the same as when we formalized the bet.

An alternative we have is to play against the trend of betting. For example, Atlético de Madrid face Sporting de Gijón. In this case, the most normal thing is that the odds give as a favorite the Madrid team, so many people will choose to bet “on insurance”.

In this match the highest odds will be for Sporting de Gijón because it is a technically inferior team. The risk of losing the bet is high if we decide to bet on the Asturians, but the benefits can be more than remarkable. Therefore, with more risk, we will have more profits.