Decimal, Fractional And US Odds
Sports betting requires little knowledge about mathematics, but if you have an impressive cache of equations, statistics, or everything math at ready—you may gain a huge advantage from the get go. One lesson we always tell you through our NBA betting guide is to always beat the odds, and the best way to do it is to understand the representation of Decimal, Fractional and US odds.
PROFIT VS. PAYOUT
The bettor’s profit depends on the Decimal, Fractional and US odds presented by the sportsbook. But, the first thing you need to understand is how money comes in and out of your Bitcoin wallet and how to compute the returns you get from each bet you make. The odds, stake, profit, and payout all have roles in NBA betting, so let’s begin with the difference between profit and payout.
Contrary to popular belief, profit is completely different from payout. When placing a bet, it automatically represents the your stage. If you win the bet, the sportsbook gives you your stake back including the additional funds you get as a reward—that, as a whole, is the payout. Therefore, the equation to calculate the entire money you can win in each bet goes like this: stake + profit = payout.
LOOKING AT THE ODDS
Now, aside from the stake and profit, the odds also play an important role in your payout. These are the numerical representations of the chances you and your selected team have. Sportsbooks often express them in Decimal, Fractional, and US odds to make the bettors more comfortable in reading the lines before making any decisions. With that, you must understand the differences between the three:
Decimal odds – These are more popular in betting sites catering to Europe, Australia, New Zealand, and Canada markets. The reason many bettors and sportsbooks prefer to use decimal odds is that they are easier to read, understand, and compute. The decimal odds already represent the payout for every unit you stake.
Fractional odds – Sportsbooks from the United Kingdom and Ireland commonly employ Fractional odds. In contrast, you can still encounter these representations on other sportsbooks as some still prefer it over the aforementioned. Fractional odds are expressed in two numbers, the numerator and the denominator. The numerator or the first number shows the amount you will win. Simultaneously, the denominator shows the amount you need to stake in order to win the initial amount presented.
US odds – US odds or American odds are, of course, widely-used in the United States. US Odds are represented as negative (-) or positive (+) numbers for the favored team and the underdog. The negative number attached to the favored team shows the amount of bet you need to stake in order to win 100 mBTC. Meanwhile, the positive number attached to the underdog is the total amount you will win for every 100 mBTC bet you place.