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Sports betting odds are one of the key elements of a successful sports betting strategy. Understanding how to read and analyze these numbers is a skill that will pay off over time, even if you’re new to the game.
How to Read and Analyze Odds
Sportsbooks often display odds with plus or minus signs in front of the number. This format is referred to as American odds, and it’s what you’ll see most often in the United States.
Decimal Odds
The UK sports betting market deals mainly in decimal odds, which are essentially payout multipliers. They’re easy to understand and can be easily converted into an implied probability.
Fractional Odds
Across the pond, fractional odds are more common in soccer and horse racing betting in the Singapore best online sports betting site. They’re also favored by the UK and Irish bookmakers, and they display with one number over another.
*Odds can be manipulated by sportsbooks to increase the value of bets on a certain outcome. It’s important to know how to convert the odds into an implied probability, which will give you a better idea of the sportsbook’s actual view of the matchup.
How to Convert American, Decimal, and Fractional Odds into an Implied Probability
The more likely the outcome is, the less you can win by betting on that outcome. By reading and analyzing betting odds, you can find bets that offer the best value, boosting your profit potential. You can also use this knowledge to pick the games with the highest point production, thereby increasing your profit margins.