American, decimal and british odds (General Tipster)

Name: GoMarescaGo

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Product:	General Tipster
Date:	11/04/02 (207 review reads)
Rating:

Advantages: Fun, Money, Suspence

Disadvantages: you need to know how odds are displayed

Odds tell you how much you could win by placing a bet on your favourite team.

At the beginning of my Betting adventure I was a bit confused. Odds were displayed on various ways on different Sportbooks.

This opinion is a simple description of the three major odds types.

European/Decimal Odds
When using European odds (decimal odds) just multiply your stake with the given odds and you know what your total payout will be if you win the bet. If you want to know your net winnings just deduct your stake from the total payout.


British Odds
British odds (fractions) function as follows: multiply your stake with the odds and as a result you receive your net winnings. Add your stake and you know what your total payout will be if you win the bet.

American Odds
In the U.S. they view a bet from the 100,- USD perspective - either you have to place 100,- USD on your favourite team or you have to place a certain stake to win 100,- USD.
In American sports the second team named is the home team.

For example

Boston Celtics +180
Los Angeles Lakers -260

To win 10$ betting on Lakers we need to bet 26.
Betting 10$ on Celtics, we can win 28$ (18$ net winnings)

With this simple equation we can conver american odds into decimal ones

Lakers :100/260 + 1 = 1,39
Boston: 180/100 + 1 = 2,8


I hope this will help the few people are confused about odds types as I was some confused some months ago.

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