How To Get Started With Football Betting Odds
Thanks to a dramatic change in the laws surrounding online sports betting in the US back in May, it may not be long until the Canadian people will be able to benefit from the same perks and be able to enjoy the thrills of single-game-sport-betting. This allows you to bet on single matches rather than on a group of matches known as a “parlay” bet, so you can place bets on specific teams and results. While for now it remains a grey area, Canadians in some regions, as well as residents in countless countries elsewhere, can already bet on football anyway they like.
As such, knowing how the numerous types of betting on football online work and the odds involved is very important. Even if you are still restricted to the parlay bet, knowing odds is important for you to ensure that one bet doesn’t screw the rest. This guide will give you an introduction to sports betting and odds.
Simple Online Sports Betting Odds
If you aren’t familiar with odds then it can be a bit confusing, but it really doesn’t take long to get your head around. In a nutshell, odds are the probability of something happening and the amount you receive if it happens is reflected in the numbers.
Odds will be displayed as a fraction or listed as a decimal, but they both pay-out the same and it’s all about preference. The simplest bets you will see will be listed as 5/1 and this basically means that if you place a bet and it comes in, you will receive 5x the amount you bet, as well as your bet back. And so, if you bet $1, you will get $5, simple as that.
This is a very basic knowledge about how odds work, and this gets more complicated when the numbers are reversed. So, if we use the opposite of the example mentioned above and the odds become 1/5, it means the probability is so high that the opposite would happen, so for the same bet of $1, you would only get 0.25 back. It may get more complicated as these numbers increase, but it is the same maths continuously.
This is the mere basics and there is much more to know than this. While this provides a good introduction to the worlds of odds, for more comprehensive knowledge visit Casino Pilot. Here you will learn about how they work more specifically, as well as converting odd in to decimals, which is another common method you will find at online casinos.