Online bookmakers, Bookies, punters and other gamblers are always surrounded by only one thing and it is the betting odds. The ubiquitous odds of the betting world can be seen on the booking coupons and on the online booking sites. But what are these booking odds and why are the bookies and the punters worried about them? Well, a booking odd is a number that tells one how much one can win on the given stake. A higher odd means a lesser chance of winning. The online bookers are generally concerned with three types of betting odds. The bookmakers offer the odds depending on the market they are targeting and the odds can be decimal, British or American. Most of the online bookmakers allow the punters to choose their own odds as well as the format.
Let us take a look at each of the three different types of betting odds one by one.
1.) Decimal odds: This is the most common and popular format. The odds in this format represent the number of units that the bookmaker is ready to pay out on each unit staked. This odd is presented in the format of 2 decimals or 3 decimals. The example given below will explain things a little more clearly:
You put a bet of $200 on match with Arsenal against Chelsea and the football betting odds are 1.50. So, the payout will be $200 X 1.50 = $300. So you stand to make a profit of $100 (300-200). Almost a child’s play to calculate isn’t it. This is the reason why this format is the most popular.
2.) British odds: The British betting odds represent the profit that you can make if you win a particular bet. The bookmakers of UK prefer to use this format because they find it very easy to convert into decimal odds. The conversion from the British odds to decimal odds is done by adding 1.
For instance, you have put $200 on a match of Liverpool against Manchester United and the odds are placed at 4/5. Then the payout is $200 X (1 + 4/5) = $360. Therefore, you make a profit of $160.
3.) American odds: The American betting odds greatly differ from the other two formats because it is made up of two different types of odds viz. positive (200) and negative (-200). This odd is specifically used in America and is not very popular in European Soccer bets. สมัคร 918kiss
Knowing about the above three types of odds will help you in understanding the odds in a better way and you can put your bets in a prudent manner.
If someone was to tell you that they knew how to make money from betting on the Internet, you would (hopefully) be a little sceptical about what they were next going to tell you. Many people claim of having secret systems that can earn them hundreds of pounds every day, and these systems are often being sold or even given away for free. Hopefully the fact that they are given away for free should tell you something about their system – it doesn’t work.
If someone was making a few hundred pounds a day from some kind of gambling system then why would they be willing to give it away for free? Why would they even sell the system for a few pounds when it is apparently earning them thousands of pounds a week? Obviously their so called system will not work when you try it. Either the system owner is making money by selling the system to you, or they are making money as an affiliate of the casino/gambling website that they are connected with.
There are many similar gambling systems that are currently going around on the Internet, and they are being advertised on a regular basis which must mean that people are falling for the systems, otherwise the system owner wouldn’t be able to afford to pay the advertising fees constantly.
One of the most popular and worst gambling systems is the Martingale system, which many people seem to dress up and sell on as some legitimate money making system. The Martingale system is used at the Roulette tables. It involves placing a small bet on an even with two outcomes – such as the black/red colour on the Roulette table, and then doubling this bet every time it loses. For example, you bet £1 on red, you lose, you then bet £2 on red, you lose again, you then bet £4 on red. The idea is that eventually you will win, and when you do win you will cover any of your losses. This all sounds very good, but in reality you will have unlucky streaks and will quickly end up hitting the maximum table bet possible, and so you won’t be able to gamble enough money to make up for all your losses. It only takes around 10 bad results in a row and you will find yourself having to gamble hundreds simply to cover your losses, and it really is not worth attempting.