Odds in the betting

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Betting on sports is a way in which a person gets the chance of utilizing his/her knowledge for the game to convert into the cash. It can be done by combining their game knowledge and skills with that of the gambling and make money on betting sites.

In a typical manner, the bookies put up some odds which are than being betted by the gambler or betters. The bookies usually put odds on each type of outcome so that after the results they are out of the risk as people would be there who would have bet on the final result as well. Bookies earn their profit by collecting a fixed percentage on each type of bet that is being put and in gambling world this percentage is termed as ‘juice’. In the betting sites, sporting betting odds are put up in various ways. Some of them being American odds, point spreads, over under, fractional odds, and decimal odds. Let us know what an American odd is.

In the American odd representation, the book makers or bookies place either a plus or minus sign before the numbers. When you see a minus sign preceding the numbers it means that how much more money is needed by a particular person to earn on a team to be able to win hundred dollars. The minus sign precedence indicates the movement of winning team or is the favorite of people. When you see a plus sign proceeding the numbers understand that the total amount of money shall be won by the bookie or gambler if someone bets hundred dollars on that particular team. In either case, the gambler who wins will be winning the prize amount and also the amount that was placed on the bet. Like if someone had batted around one hundred and fifteen dollars while a team had minus one hundred and fifteen dollars to it than the on winning the game by the team the gambler gets a total of two hundred and fifteen dollars as the prize amount and bet amount.

Then, comes the decimal odds. This odd is most commonly practiced in the European countries. The amount which is bet is included in the offered odds while the odds are being expressed in the form of decimal numbers. Like if a book maker has offered an odd of two point five on the winning team than the amount that is being bet will be multiplied by this and the winning amount will be the multiplied amount.