everything you need to know about betting odds
Although it is important to become an expert in sports markets, this is not your only concern.
You can forget about long-term profitability if you don’t understand betting odds.
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regardless of your level of research on an event, not knowing the correct probabilities will result in failure.
While the edge enjoyed by sports betting sites that accept Monero varies depending on the market you bet on, you can expect it to range from at least 3% to over 30%.
Your ultimate goal is to uncover odds “mistakes” that are occasionally made by sports betting websites.
what are value bets?
value betting experts forensically examine each market to uncover that elusive edge.
for example, suppose you believe the percentage chance that man united will beat arsenal is 30%.
does that represent value odds if xmr sports betting site offers 2.50 decimal odds for a united win?
not! 100/2.50 means that the sportsbook believes there is a 40% chance of an overall win.
Your quest for success should involve extensive research of a market to learn the true probability of any outcome.
once you finish the investigation, the reward is a “stakeskin”, a tool that puts you in the role of a bookie.
what is a betting fabric? it is a method to create your own quotas.
Of course, you can’t even begin this process until you learn more about the different sports betting odds formats.
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Many people don’t know how to calculate betting odds, so we’ve created a quick guide to the three most common types.
American odds
if you live in the us. uu. and you sign up to any monero sports betting site, they are likely to offer American odds, which feature a number preceded by a plus or minus sign.
this sign indicates whether your win will be more or less than the amount of xmr you wagered.
if the sign is minus (-), it means the odds are below even, so your win will be less than your bet if you win.
a (+) sign means a lay bet, so your possible win is greater than your original bet.
Below, we’ve compiled some examples of American odds, with information on how much you can win with bets of different sizes.
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+110: wagering $100 and winning at these odds means a total return of $210
+150 – When betting at these odds, a win will generate a profit of $150
+300 – Back any outcome at these odds with a $100 bet, and your total winnings will be $400 if successful
-110: If you bet at this price, your total win with a win is $90.91
-150: Bet $100 on these odds and win, and you’ll benefit from a return of $166.67
-300: If you bet $100 and your selection is successful, you benefit from a return of $133.33
decimal odds
European players are more familiar with decimal odds, which is the easiest format to calculate and understand.
To calculate your possible winnings, multiply your monero bet size by the odds.
Suppose you want to bet on England to beat Sweden and receive odds of 1.6; multiply your $200 bet by the odds of 1.6 to get a return of 320.
an English win means you enjoy a win of $120 as 320 – 200 = 120.
Calculating the probability of your selection winning as a percentage involves dividing the decimal odds by 100.
in the match between england and sweden, the sports betting site that accepts xmr believes that the probability of victory of the former is 62.5% because 100/1.6 = 62.5.
fractional installments
Generally speaking, fractional installments are popular in the UK and Ireland.
This odds format features a slash between two numbers.
for example, 6/1 means six to one, meaning you get a $6 profit for every $1 you risk if the bet wins.
so, if you bet $10 worth of monero at odds of 6/1, you would win $70 if successful, for a profit of $60.
The number on the left indicates the amount of winnings you will get if you bet a sum of money equal to the number on the right.
let’s say you back the tennessee titans to defeat the tampa bay buccaneers at odds of 11/4; this means your profit is $11 for every $4 you wager in case the titans win.
of course, you must include the monero you wagered to determine the total payout.
Most xmr betting websites will allow you to change the format of the odds, so experiment to see which you like best.
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