Sep 08, 2020 High odds in betting means that the payout you might win from these bets will be very high, but the chances of winning the bet are quite low. Betting on high odds gives bettors a chance to potentially rake in massive amounts on a somewhat small bet. Feb 08, 2021 Betting Against The Odds When you bet for the underdog, it is called betting “against the odds.” For example, if odds are +300 for the Bears this Sunday, then it is three times more likely that they will lose than win. Odds of +300 indicate that if you bet $100, you will win $400, the original amount of your bet plus the profit. Top rules of successful betting by High odds predictions 1. Bet only if it is within your power! Many people bet with a whole bank in the attempt to generate profits for a short period of time.
Arguably, one of the most important things you need to understand in online betting is the value of odds. You can not underestimate the importance of knowing how to use odds correctly. We guide you through what odds are, what they mean and how to find and use the best odds.
Betting odds are there to tell you the likelihood of an event happening; they tell you how much you stand to win. They may seem confusing at first but once you get to know them, it will make your betting life much easier – and much more profitable. Here, at BettingOnline.co.uk we will go into some depth about how to best use betting odds to bring value to your bets.
How Does Probability Affect Betting Odds?
Betting, at the very basic level, is all about your ability to predict what is going to happen in a certain sporting event. If you can correctly predict the outcome, then you will win your money. Any sporting event has a number of possible outcomes. If you roll a die, then there are six outcomes possible. As such, if you bet on one specific number being rolled, then there is a 16.66% chance of winning (100 / 6). Betting odds are designed to represent the likelihood of the event happening. Generally, in the UK, they are represented as fractions, although you can access them as decimals.
Calculating Probability Using Betting Odds
When you see fractional odds, you can use these numbers to calculate the probability of an event happening according to the bookmaker. To explain the calculation, we’ll use the letters A and B for A/B. The probability is calculated with the following formula: Probability (%) = B/(A+B).
Examples:
8/1 works out to be 1/(8+1) = 0.11 – which means that there is an 11% chance that it will happen.
4/1 works out to be 1/(4+1) = 0.20 – which means that there is a 20% chance that it will happen.
1/1 works out to be 1/(1+1) = 0.50 – which means that there is a 50% chance that it will happen.
1/9 works out to be 9/(1+9) = 0.90 – which means that there is a 90% chance that it will happen.
However, the more you know the sports you are betting on, the more you will understand whether the odds offered by the bookmaker represent what you think the probability is.
Value Bets
If you think a football team has a 50% chance of winning but is given odds of 2/3, then the bookie is stating that they are paying out for the probability of 3/(2+3): 60%, which means it is not a value bet. However, if the bookie is offering odds of 2/3, then they are paying out for the probability of 2/(3+2): 40%, which makes it a value bet, that you should snap up.
Calculating Winnings Using Betting Odds Explained
Once you have established whether the odds on offer represent a value bet, you can then establish what you will win if you take up the bet. This really is very simple to work out and you don’t need to be a maths genius to work out your potential winnings. Let’s again use A/B to represent odds. The way to work it out is that for every B you bet, you stand to win A, as well as getting your original stake back.
Examples:
8/1 – every £1 you bet means you will get £8 plus your original stake
4/1 – every £1 you bet means you will get £4 plus your original stake
1/1 – every £1 you bet means you will get £1 plus your original stake.
1/4 – every £4 you bet means you will get £1 plus your original stake
How To Read Betting Odds Spread
Understanding Decimal Odds
If you want to bet on exchanges or more European betting sites, then you may find that the odds are generally represented by decimals. Some people prefer decimal odds, and as such, many sites give you the option to view all odds in decimals if that is your preference. Many people actually find these easier to work out than fractional. As such, they are also very important to understand. The calculation is as follows: winnings = (odds x stake) – stake. Here are some examples of how decimal odds work.
8.0 works out to be (8.0 x £10 stake) – £10 stake = £80 – £10 = £70
4.0 works out to be (4.0 x £10 stake) – £10 stake = £40 – £10 = £30
2.5 works out to be (2.5 x £10 stake) – £10 stake = £25 – £10 = £15
1.25 works out to be (1.25 x £10 stake) – £10 stake = £12.50 – £10 = £2.50
What Works Better, Decimal or Fractional Odds
What is better very much depends on what you are used to – and one really isn’t better than the other. Fractional odds are more traditional than decimal odds, but decimal odds are coming more into fashion. Fractional odds were originally used in the UK, most predominantly at the race tracks and in high street bookmakers. There are a couple of differences between them. Most beginners and people new to betting find decimal odds easier to understand. Because of this more UK high street bookies have made them more available to their punters to attract more punters. They are also widely available on online betting sites. When you go to any major horse racing event, including Cheltenham, in the past, you would only be able to access odds in fractions. Now, you can generally see them available in fractions.
Another difference is that fractional odds represent the winnings only, whereas decimal odds represent the winnings plus the stake you get on return. Because of these differences, we’re generally finding that more sites and bookies are transitioning to decimals. Decimals are generally used in betting exchanges also, which are becoming more popular with punters. Also, when odds decrease or increase slightly, this is easier to represent in decimals as fractional odds tend to have very high number fractions involved, which make calculations harder for the punter.
Making the Most of Odds Comparison
When you understand odds, you need to make sure that you get the best odds available for your particular bet. The odds offered at different bookies represent what is going on in their market for that event. As such, these can vary from bookie to bookie. If there are too many people making a bet on one outcome, then bookmakers will change odds to lure punters to bet on a different outcome. As such, this could lead to a skew of good value and bad value odds. Therefore, you can either look through all different online bookmakers to check out where the best odds lie, or you can use our odds comparison site to help you. Taking time to compare odds yourself can be very time consuming, so getting a helping hand makes it much easier. You can find the best tips and the best odds for your bets here on our site.
To Sum It Up
Betting odds are the most important thing you need to understand when it comes to online betting so you can understand values and winnings. As soon as you get the hang of the odds, you can understand the likelihood of an event happening – and how much you stand to win if it does happen. Getting good value odds and the best odds is a major part of successful betting.
The advantage of having the best online betting apps on your phone cannot be overstated. You can quickly open the app, wager on your favourites matches even mid-game wherever you are.
Getting home in time to watch the match or catch the team selection doesn’t have to bother you since the best apps will bring you the news to your palms and you will place the bet you want.
The idea is simple; wherever you are and whatever sport you want, an internet connection is all you require. And this is where twinbets.com comes in to tell you about the best sportsbooks and apps to use to wager conveniently.
The bookmakers try to offer their clients the best betting apps to make the transition from the website to the app smooth. Consequently, the team at twinbets.com brings you a lowdown on how to pick the best apps, betting sites, and platforms to get the advantage you need.
The advantage of using a betting app over a website is in its customisation to fit your specific requirements. A great sports app is functional first. Be it a high performing flagship phone to a budget phone, or a slow connection, the best online betting apps performance is optimised to always deliver a fluid experience to the user. However, all of this of no importance if they can’t bring your favourite sports to you.
Instead of filling up your phone with many apps, just finding a couple or more that you can always count on makes more sense. At twinbets.com, you will learn whether a betting operator is licenced to operate. We also rate the best betting apps for their user experience, live streaming options, cross-platform compatibility, and other perks you may get from downloading the app.
The best betting apps allow you to place a bet as if in real-time on the website. This begins by first choosing the best betting site and hoping the experience trickles down to their applications. Good betting sites offer many markets of sports and allow you to drill into the matches you like quickly.
Whether you are placing a single bet or an accumulator bet, it doesn’t matter, the best betting apps for android and iOS deliver all that you love about the betting sites. To bring you onto the best online bookmakers, we regularly try and test the best apps on offer and their subsequent updates. We go beyond marketing material and deliver an objective review of the relevant aspects of the best betting apps. Read on to find out more about twinbets.com review process.
Most punters dream of winning a life-changing amount. This is the reason many people place very long odds on accumulators every day. However, not many people ever actualise this dream. Did you know the odds for winning the biggest win from a small wager was 1,600,000/1? Yes, in 2001 Mick Gibbs won £500,000 on a 30p stake!
Almost all marketing material for most betting sites mention a form of reward or bonus. Mostly these rewards are tied to some form of wagering requirement, deposit bonus, etc. Sometimes these terms are untenable, and we cover all the qualification attributes for these bonuses so that what you are told is what you get.
Sponsorships and promotions have always been a part of sports and sports betting. When looking for the best sites with the best odds, bonuses should also feature in that decision. All elite bookmakers and the best betting apps offer some form of reward or promotion for signing up or being loyal to their platforms. In the constant need for sites to attract clients, these betting bonus benefits flow to customers.
Did you know that once you earn a bonus you can use it to explode your bankroll? When used well, bonuses are a risk-free bet with which the windfall is money in your pockets. Unlike a free bet where the free amount is deducted from the winnings, a bonus is the opposite and the amount is included in your winnings instead. Despite the rollover or wagering requirements, you can take advantage of them to increase your bankroll strategically.
Twinbets.com is a simple way to gain an added advantage when betting online. Learn about the best online betting apps, sportsbook promotions, and the latest news here. We endeavour to make online sports betting fun, safe, and secure by giving you the information needed to make an informed bet. Objective reviews and news are the beating heart of our operations. This is all in the spirit of removing guesswork and blind luck from the process of choosing an ideal betting site.
Our reviewers have spent time betting and testing all the platforms we recommend, so you don’t have to. We trust their opinion to be professional and based on thorough research. Our reviewers make it easy to choose the best betting sites at a glance. Find tips and strategies for choosing the best betting apps, sites and promotions for all betting fans.
Sports betting has been there since historic times and only the ways people bet have changed.
Betting On High Odds College Football
It is commonly acknowledged that online gambling originated in Antigua and Barbuda. From then, online gambling grew into what it is today. Early developers of online gambling games like Microgaming emerged and in 1996 Intertops became the first online sports betting site regulated by the newly formed Kahnawake Gaming Commission.