As a New Zealand punter, it doesn’t matter if you are looking for hockey betting odds or the NBA betting odds, there can be at least 3 ways for those odds to be displayed.
It is essential to learn these different methods if you are planning on opening more than one betting account.
For the best sports betting experience online, learning the betting odds along with the terminology used by different countries is essential.
Using American Odds
American sports betting and odds use unique terminologies and ways of displaying odds. American odds are also known as moneyline odds and they have a unique way they different5uiate between a favourite and an underdog bet.
For the favourite bet, the American odds show you how much you need to wager in order to win a 100 payout. For the underdogs the odds display what you will win if you wager a 100 bet.
As an example, if the odds on the favourite show -150, it will mean that if you place a 150 wager, you will receive a 100 payout along with your original 150 staked.
If an underdog displays odds of +150, it means if you wager 100, you will be awarded a 150 payout along with your original 150 stake.
Making Sense of Fractional Odds
Fractional odds are also known as traditional odds because it is one of the oldest ways that betting odds are displayed. These odds are still popular in horse racing and with British betting sites.
Fractional odds see the numbers displayed as fractions. Looking at these odds will show team has odds of 1/2 or 1/5 or 5/1.
These odds show what a bettor will be paid out on top of his or her original stake. For example of you place a wager on a team with 4/1 odds, and your team wins, you will win 4x your original wager.
If the wager was on a team with ¼ odds, it means that you will get paid 25% of your original stake. Both cases do not include your original stake, which obviously also gets paid back to you if you win.
Decimal odds can be found all over Europe and of course in New Zealand. Slowly more and more professional sports betting sites are making use of decimal odds as they offer the simplest view of betting odds. Their biggest benefit is that they display your total payout. This means you can quickly calculate your winnings.
An example of decimal odds may look something like a 1.75 on a favourite, which means a 100 bet will pay out 175, while an underdog bet may be a 2.75 which means a 100 bet will net you 275 in total payout.
Finding the Best Odds
No matter how good your sports betting strategy, it won’t mean much if you don’t understand how the odds work so get familiar with these methods as soon as possible.
For the best value odds, always look at legal sports betting sites. It is best to stick with popular sports betting sites that have a reputation for paying out customers and resolving disputes fairly.