Tag Archives: sports

Sports Betting Odds Demystified

Sports BookBy Alex Larsen.

For those who are not experts in sports betting, all can agree to one thing: that reading, understanding and calculating game odds has never been easy. It takes some experience in the diverse gaming sector for someone to be fully conversant with the riddle of odds. The already amateur in this can agree that they were either taught or it took them quite some reasonable time for them to conveniently learn on their own. For that reason, blackjack has broken down the task for anyone who had the itching query about the entire concept of odds in games. So next time someone can bet confidently like a professional without experiencing goosebumps.

The three key aspects why you should understand gaming odds:

  • Betting odds help you to know what games are worth risking money on.
  • Odds can be used to calculate the probability of an outcome for a certain game.
  • Odds allow you to understand your expected pay out.

Betting odds help you to know what games are worth risking money on.

It is certainly true that everyone knows that gambling is a game of wins and losses. Nothing is ever guaranteed. Hence, by better understanding how odds work, you are in a better position to know where, when and how to place that bet with the least risk possible. The human psychology is often mounded in a manner that is geared towards winning and success.

To prove this fact, some people even engage in betting as an investment. To successfully do this, they engage in the sure bet formula to make sure that they have nothing to lose at all. It is very true that the math underlying the concept of odds can be an eye opener to whether the bet is worth it or not. One key factor to assess is whether or not the presented probability is higher or lower than the actual probability of the game. Hence, you have to put into consideration the bookmaker’s profit margin and the actual probability outcome of the game. However, you should not forget that probability is not reality.

Odds are used to calculate the probability of an outcome for a certain game.

Another expression for odds is chance or probability.1)Chance can be expressed either as a probability or as odds.  For more information, check the word odds in the Encyclopedia of Blackjack on this site. Odds can be better defined as a probability that something will occur or not. So, once the betting opportunity is identified and the probability assessed, the outcome should be higher than the probability implied. Hence, it is very vital to consider the estimates of the bookmaker. Furthermore, it is important to know that the odds that are always on display can never truly reflect accurate results. That is the probability of the results indicated occurring or not. One should also note that the payoff depends on the results of the odds reflected.

Getting to understand your expected payout.

The payout in sports always depends on types of odds being used. More importantly, payouts always include the amount of money that you put in. It is very simple to calculate the expected outcome of a game that you have placed a bet on. It is especially true when the odds are in decimal points. It is because you just have to multiply the number of odds by the amount you have placed for the bet. For other types of odds with either fractions or others, a bit of mathematics are needed for calculation. Still better enough, you can get betting tips for football and other games from sites like Bet365 games.

Different types of odds.

It is also very important for you to understand the different types of odds. A better understanding of the different types of odds enables you to know how you do calculations or your expected total payout. All odds come in different forms and styles. Hence as a serious gamer, you ought to know all these types of odds.  The common types of odds can be categorized into three. These are:

  • Fractional, also known as the British odds.
  • Decimal, also known as European odds.
  • Money line odds, also known as American odds.

European odds are the most conversant with most gamers. They are also the easiest when it comes to calculation based on total payout. 

Understanding more about the betting odds, how they are calculated and the risks involved in every betting game needs in-depth research. You also need to really be enthusiastic about sports and a very keen follower of Igames. Determining on which side of the match to place your bet is not always a walk into the park. It is always a double dilemma. There is the fear of losing and the excitement of winning. However, even with an in-depth comprehension of how the matches play, it is still not guaranteed that one is just prone to win. Placing a bet still remains to be a risk unless it is a sure bet. Sure bets have their own knowledge too.

Even podcasts that are run by some of the most experienced sports analysts, old football players, and retired coaches do fail at times. The work of these experts is to assist gamblers make the most informed decisions whenever it comes to betting tips and insights. These podcasts run by experts actually are very experienced experts.  They do a very critical analysis of matches based on past experiences and also the current state of the team. They use diversified data and facts to come to a convergent conclusion but winning is never guaranteed at all. Although at times the predictions hit right… at other times they do not.

Image Credit: Wikimedia Commons

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Footnotes

Footnotes
1Chance can be expressed either as a probability or as odds.  For more information, check the word odds in the Encyclopedia of Blackjack on this site.

PRESS RELEASE: Bookmakers.eu launches its European comparison website!

BOOKMAKERS.EU – COMPARE THE BEST EUROPEAN BOOKMAKERS FOR ONLINE BETTING!

Bookmakers.eu is a brand new comparison website specially designed for the European online betting market. The new website launched in the summer of 2020. Players who are looking for a safe betting company can compare reliable bookmakers on the website, which mainly focus on Europe for placing online bets. The main goal of the website is to display safe online bookmakers on its comparison correctly and in a clear overview. Bookmakers.eu is founded by a team of enthusiastic gambling enthusiasts who have been betting themselves for more than +15 years.  This has gained them an incredible amount of experience over these years in online betting with bookmakers. It has all the ingredients to provide a fair and decent offer.

Only safe bookmakers with EU licenses

Noteworthy is that all betting offices shown on the website have an official license for the European market. The license offers protection for players, where various authorities in the EU guarantee a safe gambling offer with strict rules and conditions. Of course, things like user-friendliness also discussed, and betting options and customer-friendliness of the shown bookmakers play a heavy factor in the assessment of the various betting sites shown. The website is entirely independent and is founded FOR and BY enthusiasts of gambling and placing bets. Therefore they know exactly what a gambler is looking for when looking for a profitable bet with a bookmaker.

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From land-based to an entirely European bookmaker comparison

Initially, the people behind “Bookmakers” focused entirely on the Belgian gambling market, which was regulated in 2011 by the Belgian Gaming Commission. Via the comparison overview, the Belgian player could at a glance choose from the available legal Belgian range of betting offices for sports betting. This way, you knew for sure as a Belgian gambler that you always play with a licensed party and are protected as a consumer. A few years later, preparations made with “Bookmakers Nederland” for the upcoming regulated market for online gambling in the Netherlands, which will officially enter into force in the summer 2021 next year. The next logical step was an international Bookmakers comparison site and was therefore not delayed and further expanded with a reliable offer for Europe itself. With more land-based websites coming up soon, like the Spanish Bookmakers.es and Bookmakers.de focusing entirely on Germany, highly targeted comparisons can be made, with a full country focus for online betting and available bookmakers. It gives you as a player a clear and complete picture of the possibilities that bookmakers can give you in the specific country.

“Together we beat the bookmaker!”

As mentioned, Bookmakers Europe is a website that is run FOR and BY enthusiasts of predicting and placing sports bets. The ultimate goal is to beat the bookmakers together and to make it as difficult as possible for the bookmakers. We bet and strive to win! We share our tips on the website by useful tips, numerous information and sophisticated betting strategies in the Betting Guide. You will also find the latest news and essential updates in the daily updates under the news section. This way, you get off to a good start, and you never miss the latest developments in the online gambling world.

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Successful start with the Bookmakers.eu advertising campaign

To get off to a good start, Bookmakers.eu launched an advertising campaign during the opening of the website. With a catchy and cheerful introduction video, it explains all the benefits of comparing bookies at Bookmakers.eu in less than a minute. The advertising campaign was immediately a great success and within a few weeks, received thousands of views via various channels – such as YouTube. It was immediately a successful start and an excellent introduction to the new European adventure!

Let us recommend you the best available options

As a gambler, you know that you can never control everything when placing an online bet. For example, you prepare as well as possible for the bet to increase your chances of winning. But only you do not influence what happens during the course of your placed bet. Fortunately, there is one element over which you have complete control. And that is the choice for a bookmaker. You simply have to go to a bookmaker to be able to play online at sports and major events such as Eurovision Song Contest or political elections. There are significant differences, so you must make the right choice. Bookmakers.eu help you to find the perfect betting platform. We do this by posting honest and reliable reviews. We take all elements that may be important to you. The discussions, therefore, describe the most diverse matters, from bonuses and the betting offer to payment methods, limits, the user-friendliness of the (mobile) platform and of course the accessibility of customer service. Every bookmaker in the comparison overview has been tested by us, where we took several or many bets with actual real money. Of course, as mentioned before, you will only find online bookmakers with an official license. This way, you can be sure that you can bet safely and that the bookmaker has sufficient financial resources to pay out the winnings. Reliable bookmakers that meet high standards: that’s what Bookmakers.eu is all about!

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