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How is an odds determined?
An odds are determined based on the probability that something specific will occur. Thus, how much chance there is of e.g. Djurgården wins against Östersund or how likely is a match to end with a certain number of goals? To find out the probability of these questions, the gaming companies use different types of statistics and analyzes. When the gaming companies have produced definitive data, an odds are presented on what the probability is that eg. Djurgården wins against Östersund. The different betting companies’ odds are usually not very different from each other, as most of them use the same strategy, but it is always possible to find odds that are better than others.
Tips from us at Bettingstugan is that you visit a website that offers odds comparison. That way you can find the very best odds for your bet.
An easy way to understand how odds work is to use a dice. A dice has 6 different numbers, the chance that the dice lands on any of these 6 numbers is exactly the same, 16.66%. You can calculate this by dividing 100% by 6 = 16.66%.
What are the odds used for?
When you are betting on how a specific football game ends, you will be able to choose from three outcomes;
1. Home victory
2. Away victory
Each outcome will have a specific odds. These odds have been determined based on the probability that the outcome of the event will occur. Your odds will be multiplied by your bet.
High / low odds
The size of an odds is vital when you bet, as it determines how big / small your winnings will be. If an odds are high, it generally means that there is a small chance that this outcome will occur. The lower the odds, the more likely the game is. Your task as a player is to find the right type of odds, ie. an odds that give you enough bet value.
Different types of odds
To be able to play and be successful with betting, you need to understand what odds mean. Depending on where in the world you are in or on which gaming company you visit, odds can be presented in different ways. Below you can find information on the most popular odds formats.
Decimal odds (European odds)
The betting companies in Sweden present their odds as decimal bets. Decimal odds can also be called European odds, as the majority of European countries present their odds in decimal form. To understand how decimal odds work, see below;
You bet $ 100 on a match to odds 1.66. This means that if you win, you will get back 166 SEK.
(100 x 1.66 = $ 166)
You bet $ 100 on a match to the odds of 2.00. This means that if you win, you will receive back 200 SEK. (100 x 2.00 = 200 kr)
You bet $ 100 on a match to the odds of 5.00. This means that if you win, you get back 380 SEK. (100 x 5.00 = 500 kr)
American odds or Moneyline as it is also called, are either negative or positive. Whether the American odds are negative or positive is determined by whether the odds in decimal form are lower or higher than 2.0.
A negative American odds always show how much you have to bet to win 100, the odds are 1.50 in decimal form, the American odds are -200, you have to bet 200 to win 100.
Is the decimal odds instead higher than 2.0, 4.0 eg. the US odds will be positive, +300, this shows how much your net profit will be when you bet 100. Note that if the odds are 2.0, the US odds can be either -100 or +100.
If you want to convert a positive American odds into a decimal bet, follow these steps:
(200/100) +1 = 3.00
If you want to convert a negative American odds into a decimal bet, follow these steps:
(100/200) + 1 = 1.50
English Odds (Fractional Odds)
English odds or fractional odds as it is also called is another way of writing odds. This type of odds are written in fractions, ie. 11/4, 1/2, 6/1, etc. To easily understand how English odds work, you may think that the first number is the part you win and the second number is the part you have to bet to win. For the odds 1/2 you must then bet 2 to win 1, these odds will be in decimal form 1.50. (1/2) + 1 = 1.50.
About Betting Games
When you play an odds game online, you should anticipate the outcome of a specific match or contest. The different betting companies today offer lots of different variants that you can bet on, it can be anything from you guessing the winner of a match to choosing which team gets the most corners. Your odds and your bet will determine how big your potential profit will be. The higher the bet and odds you have, the more money you will win.
Create an account – Online betting
In order for you to be able to play odds, you are required to be 18 and have an account with one of the various betting companies. Creating an account is fast and easy. The majority of gaming companies welcome new players with a betting bonus that allows you to play risk-free