Odds are quotes created for a particular game and are intended to price an event, in the case of sports betting. These quotes represent a probability and indicate what value can be obtained by winning a bet. Determining the probability from an odd is quite simple:
Probability = 100/ odd
Example: odd 1.25 – Probability = 100/ 1.25 = 80%
Odds formats
Decimal
This is the most popular format. In this case, to find out the return on the bet, we multiply our stake/amount bet by the odd.
Example: odd 2 x $50 = $100 ($50 profit + $50 bet)
Fractional
Fractional odds are written by slashes (/). This is a widely used format in England.
Example: 4/ 1 (reads four to one) = $4 gain for every $1 invested.
American
As the name implies, the American odd comes from the United States, and in it the odd is based on the amount needed to win $100.
The odds are shown with a “+” and a “-“. If the odd is -150, you need to place a bet of $150 to win $100. If the odd is +150, you need to place a bet of $100 to win $150.
Variations
Variations in odds can happen in both the live and pre-match markets. In the pre-match market, this usually happens when there is a large amount of money coming in somewhere in the market or when we have news that completely changes the event’s history (an injury, for example).
In the live market, these variations occur as the game progresses. For example, if a favorite team can’t get the 0 off the scoreboard or concedes a goal, the odds for that team will start to go up over time. As the game progresses, the odds will inevitably change as the end draws closer and the outcome becomes more predictable.
Important!
At Betmotion you can choose the format of the odds you want. To do this, just be logged in to your player account, then access the Sports area and select the format you prefer, in the upper right corner, in ODDS FORMAT.
