Introduction:
Online sports betting requires understanding odds and betting lines to make informed decisions and maximize your winning potential. Whenever you visit an online sportsbook, you will encounter several different symbols and numbers associated with various betting options in Singapore and Malaysia. Numbers such as these represent the odds and bet lines, providing valuable information about a sporting event's possible outcomes and the associated payouts. Here, we will explain how to decode the numbers commonly found in sportsbooks, helping you confidently navigate the world of sports betting.
Decimal Odds:
Online sportsbooks use decimal odds as the most straightforward format, as they represent the total amount you will receive if you win your wager, including the original stake. As an example, if you see odds of 2.50, it means that in return for every unit you wager, you will receive 2.50 units if your bet succeeds. This includes your original stake, so you would have a profit of 1.50 units.
Here is the formula you can use to calculate the potential payout based on decimal odds:
Potential Payout = (Decimal Odds x Wager) + Wager
Fractional Odds:
There is a common practice in the United Kingdom and Ireland of using fractional odds. Usually expressed as a fraction, such as 2/1 or 5/2, they indicate the potential profit based on the stake you are placing. A fraction is made up of two numbers, the first representing potential profits and the second representing the stake amount.
For example, if you placed a $100 bet at odds of 5/2, you could win $250 (profit) and your original $100 bet for a total payout of $350.
This formula can be used to determine the potential profit when using fractional odds:
Potential Profit = (Fractional Odds x Wager) / Denominator
American Odds:
Generally, American odds, also referred to as Moneyline odds, are used in the United States. Depending on the situation, either a positive (+) or a negative (-) sign can be used to identify the underdog or favourite.
When you see positive American odds (for example, +200), you should anticipate winning a profit of $200 plus your original $100 stake. Therefore, if you place a $100 wager on the underdog, you would potentially win $300 plus $200 in profit.
The negative American odds (e.g., -150) indicate the amount you are required to wager in order to receive $100. For example, if you bet $150 on the favourite and win $100, you will also receive $150 in profit, resulting in a $250 payout.
Note that American odds are not expressed in a specific unit and represent the payout based on a $100 wager.
Calculating Implied Probability:
Based on the odds provided, the implied probability is used to estimate the likelihood of an outcome. It represents the likely outcome of a bet if a wager is placed based on the odds provided.
It is possible to calculate the implied probability of decimal odds using the following formula:
Implied probability = 1 / Decimal Odds
Here is a formula you can use to calculate the implied probability of fractional odds:
Implied Probability = Denominator / (Denominator + Numerator)
To calculate the implied probability of American odds, you can use the following formulas:
For positive odds: Implied Probability = 100 / (American Odds + 100) For negative odds: Implied Probability = (-American Odds) / (-American Odds + 100)
Conclusion:
We at 126Asia believe that understanding odds and betting lines is an essential part of successfully betting on sports in Singapore and Malaysia. It does not matter if your odds are decimal, fractional, or American; you now have the ability to decode them and estimate payouts and implied probabilities. Before placing your wagers, you should conduct thorough research, analyze the odds, and approach sports betting responsibly. Making informed decisions is easier when you have a solid understanding of odds and practice.