What You Need To Know About Sports Betting Odds

For newcomers in sports betting, there may be some things on betting sites that they may be unfamiliar with. One of the most important things that bettors must understand is how Singapore Pools live odds work and what they mean.

Sportsbooks determine betting odds through a number of calculations that are factored in based on the probability of an outcome in a sports event. 

Why Do Betting Odds Matter in Sports Betting?

Betting Odds are significant in sports betting because they tell bettors how much they can potentially win with a successful wager. Learning how to read Singapore Pools live score and odds can help in calculating what the exact return would be if a bettor wins.

Different Types of Betting Odds

One type of betting odds is the American odds, which is displayed with a plus or minus sign followed by a number. Negative numbers indicate the favourite on the betting line. Meanwhile, the positive number indicates the underdog, and the number refers to the amount of money that a bettor can win if they place a $100 bet.

Fractional odds are another betting odds. This type of betting odds are displayed as fractions. Calculating the profit that a bettor can get involves multiplying a bet amount by the fraction. For example, placing a wager of $10 with 3-1 odds can give a $30 profit plus the $10 stake back.

On the other hand, decimal odds are betting odds that are shown as one whole number followed by a decimal. These odds are often used on international or global events, like the PGA tour, tennis tournaments, and the Olympics. 

Decimal odds indicate the amount a winning bet would collect on a $1 bet. If the betting odds are listed as 6, a winning bet would get a $5 profit and the original $1 bet.