Odds tips to help you bet
Well, as the name suggests, in a fixed odds bet, the bookmaker or bet exchange, presents the bettor with odds i.e. the chances of the particular outcome taking place, at the time of placing the wager. The payout that the bettor receives is also determined by the odds.
The odds may be expressed in a number of different forms, some of the common forms are -
1) Fractional odds
2) Moneyline odds
3) Decimal odds
Out of these, the most widely used and thus the most important, is the Fractional Odds.
Fractional odds are basically a measure of the amount which will be paid to the bettor, in case of a winning bet being made, based on the stake. Odds of 7/2 (read "seven-to-two" or less commonly "seven-to-two against") would imply that the bettor is going to make a $7 profit on a $2 stake. If the odds are 2/7 (read "two-to-seven", or "seven-to-two on"), the bettor will make $2 on a $7 stake. In either case, against or on, should he win, the bettor always receives his original wager amount back, so if the odds are 7/2 the bettor earns a total of $9 ($7 plus the original $2). Odds of 1/1 are known as evens or even money. For more information please visit Combo bet tips.
While many factors are considered while calculating the odds that are offered for a particular outcome, the thing that influences it the most is the likelihood of the outcome taking place. For example, the odds offered for a win by a team which is seen as the favourite (for any number of reasons such as recent form, better squad, greater public support, performance history against specific opponents etc) is usually low since victory is the most likely outcome. In the same scenario, the odds offered for victory by the underdogs i.e. the less favoured team, is generally high since the probability of the team actually winning is low. So, at first glance it might seem that to maximize one’s winnings one must wager money on the outcome that offers the highest odds but always keep in mind that there is a reason why the payout is so high. The greater the risk, the greater the reward in case of success. Similarly, the lesser the risk, the lesser the payout in case of success. But the probability of winning is higher with the outcome that has lesser odds.