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Betting Odds
By Joe, BettingExpert
Within betting you basically talk about three types of betting odds. In this article we at BettingExpert will look at three different kind of sport betting odds: UK Odds, Asian Odds, and European Odds. We hope you will find it useful! The only major difference between online betting and land-base betting is that with the latter, you have to be physically in the location to place your bet while on online, you can place your bet virtually on the Internet anywhere you are.
Both type of betting have the same basic principle that is putting your stake against an odd with the intention that it will yield a profit in return. There are different kinds of betting odds and to be successful in your betting, you first need to understand and learn different types of odds available online. Below are some of the different kinds of betting odds format use by online betting odds bookmakers. Here, we are going to use the football game between England vs.Ukraine to explain each odd system that are available on BettingExpert, how it works, how the calculation of your winning is done and how each odds is different for from each others. In the example the number 1 is for home, x is for draw and the number 2 is for away. Although the examples focus on football betting odds, the facts in this article are applicable to all sorts of online betting odds.
European Betting Odds
The European format uses a decimal system of odds. Decimal odds is most favored around Europe, Canada and Australia and it is most common format use on online betting because of its simplicity and it is straight forward. Your payout can be calculated by just simply multiplying the amount of your stake to the odds and this will be your winning. Your total winning includes the stake you have waged. Example: England v Ukraine
| 1 | x | 2 | ||
| 1.36 | 4.50 | 9.00 |
If your stake is £10 on England winning: £10 x 1.36 = 13.60
If your stake is £10 for both teams ending in a draw: £10 x 4.50 = 45.00
If your stake is £10 on Ukraine winning: £10 x 9.00 = 90.00
UK Betting Odds
UK odds is also known as traditional, British or best known as fraction odds. This type of odds uses fractional system and most favored by UK bookmakers. In this case given below for the home team winning odds is 4/11. Reading this would be 11 to 4, where for every £11 you wage, you get £4. Example: England v Ukraine
| 1 | x | 2 | ||
| 4/11 | 7/2 | 8/1 |
If your stake is £11 on England to win, you will win £4 and in return, you will get a total amount of £15. £11 + 4 = 15
If your stake is £2 on both teams finishing in draw, you win £7 and in return, you will get a total of £9. £2 + 7 = 9
If your stake is £1 for Ukraine winning, you will get £8 and in return, you will get a total of £9. £1 + 8 = 9
Asian Betting Odds
Asian odd is best known as Asian Handicap. This type of betting odds is most favoured in the Far East and Asian countries. The basic concept system odd is awarding the underdog or the handicap of the game a head start point/s or goal/s before the game starts. In doing so, this will give both teams an equal chance to win. With this type of odds, the punter eliminates any chance of losing out due to a tie. Asian Handicap is also betting system allows you to win on a losing team and lose on a winning team. This will be explained how:
Example: England v Ukraine
| Asian Handicap | 1 | 2 | ||
| 0:1 | 2.00 | 1.90 |
In this example, Ukraine is the handicap team or the underdog and it is given a 1 point head start before the game. Therefore, before the game the score is already England 0-1 Ukraine.
Betting on England to win with a £10 wage:
If at the end of the game, the score is England 1-0 Ukraine. Since Ukraine is already awarded a handicap of 1 goal head start before the game, the actual score will be 1-1. Therefore, the result of the game for this odds system is a draw. You neither won nor lost, so your wage of £10 will be given back to you.
If at the end of the game on the score is England 2-0 Ukraine. Since Ukraine is already awarded a handicap of 1 goal head start before the game, the actual score will be will be 2-1. The result for this odds system is that England won. Therefore, you won and you will get £20 in return (£10 x 2.0).
If at the end of the game the score is draw England 0-0 Ukraine. Since Ukraine is already awarded a handicap of 1 goal head start before the game, the actual score will be will be 0-1. The result for this odds system is that England lost. Therefore you lost.
Betting on Ukraine to win with a £10 wage £10:
If at the end of the game the score is England 1-0 Ukraine. Since Ukraine is given a handicap of 1 before the game, the actual score will be 1-1. Therefore the result of the game for this odds system is a draw. You neither win nor lost so your wage of £10 will be given back to you.
If at the end of the game the score is England 2-0 Ukraine. Since Ukraine is given a handicap of 1 before the game, the actual score will be 2-1. The result for this odds system is that Ukraine lost. Therefore you lost.
If at the end of the game the score is England 0-0 Ukraine, Since Ukraine is given a handicap of 1 before the game started, the actual score will be 0:1. The result for this odds system is that Ukraine won. Therefore you won and you will get £19 (£10 x 1.9).
If you like to know more about odds we recommend that you check out wikipedias page on odds.
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