Online betting in UK is complex when you come across different kinds of unfamiliar odds. The various odds are available, but three are common in most online bookmakers.
In this article, we shall delve into the three betting odds.
When you want to place a stake and find that the odds are in decimals, you can easily calculate the possible winning amount. Multiply your wager by the odds and subtract the outcome from the stake you placed to get your net profit. Most betting websites use decimal odds format because it is easy to understand.
For instance, you can wager £40 on Arsenal to win against Liverpool at 1.5 odds. To know your potential cash reward, multiply £40 by 1.5. The payout will be £60. Subtract the £40 and get £20 remaining profit. The calculation applies to all other decimal odds on different games.
Another odds format is the fraction, which is commonly used by online bookmakers in the UK. It is quite simple with two numbers; the return value is on the left while the input is on the right side. For example, if Chelsea has 6/1 odds in the Champions League and you place a stake of £30, your potential payout is £210. Below is a simple calculation:
6/1 * £30 =£180 win + £30 (your bet amount returned).
At times, you may find inverted fractional odds, which occur when a particular betting option has a higher winning chance. For instance, if you wager £20 on a 6/10 odds, the payout will be £12 plus your initial stake of £20. You will get a total cash reward will be £32.
The basis of Vegas odds is striking a win of £100. It is also referred to as pay-line betting. Positive and negative numbers represent the odds or the pay-line; the negatives are preferred choices, while the positives characterize the underdogs. Games in online casinos use the same technique as Vegas odds.
You can bet using multiple currencies with pay-line odds. For instance, if you decide to place a stake on negative odds, the figure indicated on the odds is the wager amount you need to win a possible amount of £100.
Let us take an example of -800 odds. To win £100, you have to stake £800 and earn a total payout of £900. Your profit will be £100. However, if you stake on favourable odds such as + 400 with a £100 wager, the total payout will be £500, and you will get £400 net profit.