Online Sports Betting
Before you start online sports betting, such as horse race betting, football betting or any other form of sport, you need to know what chances you have to win and if the odds are good or bad. It sounds more complicated than it actually is. If you toss a coin there is 50 percent chance that it lands on heads and a 50 percent chance that it lands on tails.
In contrast to that, if you roll a standard dice that has six sides, then there is the chance of 16.66% that one side comes up. So consequently, betting odds are simply a reflection of the chance of a certain result in an event. Online betting odds are just an easy interpretation to illustrate and reflect those chances.
If you want to try online sports betting you will find certain options you can use. Most online bookmakers will give you the choice of odds you want to apply for your bets. Rather than percentages most online betting providers use decimal odds. They are commonly used everywhere. To find out what your chances to win are you just need to divide it into 100. If you have a 20% chance of winning it will be expressed as decimal 5 (100/20 = 5).
If you bet on a match or a race that has decimal odds of 5 you will receive $5 for every dollar you stake. If you wager $10 you will get $50 in return. A more common way to express the chances are fractional odds. You find it as 4:1. That means that for every time you win you will four times lose which is the same as saying that your chances to win are 20 percent and your chances to lose are 80 percent.
There are a few terms you need to know if you are planning to try online sports betting. In the following I give you an overview of the most important terms you need to know.
Fixed Odds Betting
You bet a certain fixed amount of money against the house and predict the outcome of a game or a race or any other sports competition. The bookmakers odds will tell you how much you can expect in return if you win the bet.
The stake is the sum of money that you risk or gambling on an outcome of an event.
This expression is used when the bet has been taken. If the bookmaking system agrees to your bet, the bookmaker risks their money to lay, or to promise you to pay the winnings if your bet is going to be successful.
This describes a bet for which you are going to get a return that is more than double of your stake.
This term is used when the return will be exactly double your stake so the profit is going to be the same as the amount you staked.
Shorts odds are an indicator that there is a good chance of winning. Usually the amount you get in return for your stake will not be so much.
Longs odds indicate that the chances of winning are rather poor but the amount of amount you would receive in return are quite goods.