Online bookmakers, bookies, punters and other gamers are always surrounded by only one and that's the bet. The ubiquitous world bets can be seen on booking coupons and online libraries. But what are these bookings and why are the books and punters concerned about them? Well, a strange book is a figure that tells you how much you can work on the item in question. Higher odd means less chance of winning. The online bookers are generally concerned about three types of betting odds. The bookmakers offer the odds of the market they are targeting and the odds can be tens, British or Americans. Most webmasters allow punters to choose their own chances and the profile.
Let us examine each of the three different types of bet odds one by one.
1.) Low probability: This is the most common and popular format. The probability of this form represents the number of units the bookkeeper is willing to pay for each unit that is running. This strange is presented in the format of 2 decimals or 3 decimals. The example below will explain things a little better:
You bet $ 200 on a match against Arsenal against Chelsea and the football match is 1.50. Then the payout will be $ 200 X 1.50 = $ 300. That way, you stand to earn $ 100 (300-200). Practically childhood games to figure out is not. This is the reason why this format is most popular.
2.) British probability: British bet figures represent the profits you can make if you win a bet. The UK bookmakers prefer to use this format because they find it very easy to convert into tens. The conversion from the British odds can be done by adding 1.
For example, you have put $ 200 on Liverpool against Manchester United and the odds are set at 4/5. Then the payout is $ 200 X (1 + 4/5) = $ 360. That's why you're earning $ 160.
3.) US odds: American bet differ greatly from the other two reasons that it is made up of two different types of similar viz. positive (200) and negative (-200). This odd is especially used in America and is not very popular in European bets.
Knowing the above three types of probes will help you understand the odds in a better way and you can put your bet in a sensible way.