GUIDE TO UNDERSTANDING SPORTS BETTING ODDS:
Those who start in sports betting should become familiar with the handling of odds since they are the key to everything. Their definition, how they are interpreted, and how it is convenient to bet based on the odds. Their changes and the strategies that result from them.
Starting from a basic definition, betting odds show us the amount of money we can earn for each dollar wagered. If the quota is higher, the same will be the profit in case of being right. But you also have to see them this way: The odds reveal the probability that the bookmaker gave a certain play.
If we bet $20,000 on each of the options we have:
$20,000 x 1.88 = $37,600
$20,000 x 2.99 = $59,800
$20,000 x 4.48 = $89,600
The fee for the visiting victory is the one that pays the most. All odds work the same way, in any betting market we choose. It is often used among bettors to check this aspect to know how much money can be achieved.
What are the best odds?
Some maintain that they are those that start from 1.5 onwards. Or they raise the bar, leaving it at 1.6. Others go further back, standing at odds of 1.40, but with big bets. Such assessments are still assumptions because there is no golden rule here that says what the best odds are. It is the bettors, based on their experience and analysis, who finally decide which option to choose.
With a quota of 1.5, it means that we can win half of the value bet. A significant profit will be seen to the extent that the value of the bet is also significant. From here come ideas to make strategies.