Using the power of the Internet and an unprecedented level of public knowledge about the inner machinations of sport, savvy individuals around the world are making millions daily with online sports betting. Online sports betting can be a fun way to earn real money from the comfort of your own home as well as add a level of interest to practically any event, and making your start in the world of sports betting starts with leading to read the various types common in the most trusted online sportsbooks.
As the name suggests, this style of odds listing was popularized with sportsbooks in the United States, and are shown differently for the favored party and the underdog. American Odds are also known as “Money Line Odds,” and the number indicates the amount of money a bettor must wager in order to win $100 with a winning result.
For example, if the posted odds are -130, bettors must wager $130 on the favorite to win a total of $230. Underdog money line odds work similarly, with a +230 listing showing that bettors can win that amount for every $100 wagered for a total base payout of $340. A third listing is rendered as “PK,” and means that a winner is chosen on “even money,” or a dollar-for-dollar bet.
This odds listing style is widely used throughout the UK, and is the traditional form used in horse racing due to the sport’s extensive history in the region. Fractional Odds are also known as British Odds and UK Odds, and show the net total payout relative to the original wager. For instance, odds of 5/1 indicate that bettors can win 5 dollars for every dollar wagered on a successful bet and 1/5 implies that a bettor can win 20 percent of the original wager in addition to the original wager amount.
Decimal odds wagers are paid upfront, and winnings are given directly back to bettors in the multiple listed. With decimal odds, there is little calculation involved save for the multiplication of the wager and the odds value, making it arguably the easiest sports betting system for novice bettors to quickly grasp. This is why many online sportsbooks opt to display odds on events using this listing method, and decimal odds are also popular in Australia and Canada as well as several countries in Europe.