Would you be trying your luck by betting odds for the playoff game? Well, you would be aware of how to read it? If yes and still you are unable then it means that you have paid no more attention to mathematics in your school. First of all odds means the chances of something happening, it is very important in placing the bet especially online because it is possible to get the best odds online at ease. Its importance lies in the fact that you would make more money in direct proportion to the better odds you have. No bookmarkers would give away all their odds for the same race/match on the same day as it would make a huge difference in your payouts. Even if you are unaware of how to bet on NFL odds then you aren’t making the most of betting tips.
How does it work?
There are three types of betting odds as mentioned below:
American Odds or lines:
It is so called because it is used exclusively in America; this form takes a plus sign or minus sign in front of a number. If there is a minus sign in front of a number then it indicates how much you have to wager to win and the plus sign itself indicates how much you won.
Fractional Odds:
It is one of the easiest to read and understand. For instance 2/1 would be read as two to one, in which first number indicates how much the sports book would pay for every second number wagered.
Decimal Odds or European Odds:
In some parts of the world it is referred to as coefficient where it is considered as the easiest way to work with. For instance, if you bet $10 on 2.5 odd then you would receive 25$, $10 wager + $15 winnings.
Terms of Odds:
Long Odds:
In the league of betting 13/2 is considered as the longest and the best odds. There are several betting sites from where you could shop around, but most of the time in any single event the least likely winner is considered as the longest odds.
Short Odds:
For instance in a football match if a single team wins the most and is quite popular then they have shorter odds. It is an opposite of long odds, i.e. either it would be something likely to happen or it would be a popular choice.
Evens:
It means that the money you win would be double than the stake money. It is written as 1/1 in fraction or 2.0 in decimal.
Odds on or Against:
Odds on means the number of the left of “/” is smaller than the number on the right and in odds against the left one would be greater than the right one.
Finally, you are aware of all the basic to play your best odds in horse racing, NFL and other online betting games.