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Horse Betting 101: Inside Tips from a Pro Handicapper - Off Duty

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Betting odds tell you how likely an event is to happen. They also tell you how much money you will win. However, at first, they may seem confusing and complex. Our comprehensive guide takes you step-by-step to explain them.

If you’re new to betting, one of the first things you should do is learn how betting odds work. It’s critically important because it allows you to understand how likely an event is to happen, and what your potential winnings will be.

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At first, it may appear confusing, however, read our guide and let us explain it to you. Decimal odds aka European odds, digital odds, or continental odds are popular in continental Europe, Australia, New Zealand, and Canada.

These are a bit easier to understand and work with. The favorites and underdogs can be spotted instantaneously by looking at the numbers. The decimal odds number represents the amount one wins for every 1 wagered. When you are considering what odds are right for you, there are three key factors to consider. One is what level of risk you would prefer. If you want to work out how betting odds work, the first thing to know is that odds are generally presented in three different ways. These are fractional, decimal and American.

As the name does suggest, American odds are largely dominant in the U.S. From there, you can turn yourself into a betting odds calculator. The easiest way to understand how to read fractional odds is that the first half represents how much you will win, while the second half represents how much you stake.

However, there are also odds-on selection, which appears the other way round. There are three different ways in which sports betting odds can be displayed. Despite all being presented differently, the above examples all translate to the same chance of winning all will yield 2 of profit for every 1 wagered successfully.

Decimal odds are most popular in Europe, Australia and Canada and many think they’re the easiest format to understand. Almost all online sportsbooks will offer the option of displaying odds in the decimal format, which is sometimes known as European odds in the UK.

With decimal odds, the figure quoted is the exact amount that will be paid out if the bet is a winner. Most sports betting sites use American style betting odds and a lot of people seem to have troubles understanding how to read the betting odds and how exactly they work. In this video I do my best to quickly explain how American style betting odds work. In the video I give an example using both negative odds and positive.

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This post explains what odds are, how they work in the betting world and how to use them to make money.

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Punters use decimal odds to work out which price is better value for their bet by multiplying their chosen stake by the decimal price 10 x 23. Calculated returns include the bet stake.

Decimal odds tell us two things Price allowing you to calculate exactly how much money you will win if your bet wins. Probability the likelihood of your chosen bet actually winning. But unlike fractional odds that show the potential returns without your stake, decimal odds represent the return from your bet including your stake. Although I focus on UK offers, the principles of matched betting work worldwide.

See how you can take advantage Down Under. Matched betting is available to everyone. You don’t even need to have placed a bet before! But before we get started, allow me to explain how betting odds work. Betting odds are numbers used by bookmakers to represent the probability of an outcome occurring.

Hopefully you will now have an understanding of how betting odds work and why we use decimal odds when placing our matched bets. If things are still a little unclear, don’t worry. Things should become clearer as you move on. Betting odds explained Odds are the payout of a winning bet, but also how likely an event is to happen. What do the formats Decimal and Fractional mean.

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Best article How Betting Odds Work Why Do You Need To Know? But, if you want to make some money from betting it’d be foolish to not understand the system. There’s only one way to make money in this world by getting the best price. If you don’t even understand how betting odds work, how can you assess the situation in hand? It’s not as complicated as you may think Check out the full article here Betting Odds Explanation How do they work. Bookmakers offer odds on a huge range of events but how do they work and how can that help punters be more successful at picking winners. S betting sites in Australia Top 9 out of 18 Odds comparisons Payout speed limits AUS bookmakers ONLY!

How do betting sites make money? The odds they offer are based on probability, on what the outcome will be. In the long term, the bookmaker will always win.

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This is why we recommend betting responsibly and in moderation. However, they have lots of expenses as well. They are a business at the end of the day. Betting odds tell you How likely a certain outcome is. Shorter odds tend to mean less winnings. For example, betting on an in-form striker in an anytime goalscorer market is unlikely to have a huge profit margin.

The chance of winning is high, so returns will be less. The flip side to this is that, even in the same football match, some markets can be greatly profitable. Generally speaking, the first goalscorer market has greater odds - as it’s tougher to predict.

Football Betting Explained - Fractional Odds. Fractions are one way that odds can be displayed. Whenever you see two numbers separated by a dash, e.g. 31 - you’ll know what you’re looking at.

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The answer to this question is incredibly important if you want to become a successful bettor, but it’s also only the start of a long journey.

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Read on to find out why all bettors need to know how odds work. There is a conversation that all seasoned bettors will have had numerous times with friends and relatives who want a casual bet on a major sporting event. Betting is about assessing the chance or probability of an event happening and bookmakers like Pinnacle use odds because it translates implied probability into a more usable form in order to offer betting.

Using implied probability in betting can also help you compare odds between bookmakers. However, if you consider betting to be just about odds, you’re missing the bigger picture. Betting odds are the basics of your betting adventure. Odds are a comparison between one team or player and the other, based on their previous games, current performance, possible injuries and what outcome the bookmakers expects. Lower odds indicate who is more likely to win the game or what is more likely to happen.

Let's take a look at the following basketball game - Los Angeles Clippers vs. Cleveland Cavaliers - moneyline and place a 10 bet on our favorite team. Los Angeles Clippers to win odds are 3, Cleveland Cavaliers to win odds are 1, This is why their odds are lower and that's how betting odds work. The lower the odds - the higher the chance of it happening. This should be the basics of betting. For instance, let's take a look at a soccer match. You certainly need to read about odds in detail to figure out what they are before you place a bet.

After reading this post, you will see that it is not as complicated as you thought. This is the most common odds format, which used to be common in Australia, Canada and Europe in the past. However, lately more and more bookmakers have adopted this format, as a result of which it has become the norm. An exception to this is some betting sites in the USA. Why Are there +- Figures on Sports Betting Odds?

The job of an oddsmaker is simple Get enough people to bet on one team and the opposing team to ensure that the bookmaker makes a profit. The way they do this is by offering competitive odds on both teams.

There is a favorite and an underdog. The favorite receives the least favorable odds because it is perceived to be most likely to win. To attract bets on the underdog, the bookmaker will offer competitive odds to entice you to place bets on these selections. NBA and NFL games typically feature point spreads. Simply put, this refers to the set.

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Betting Odds - Guide to the best tips on adapting sports betting odds for Indonesian, Hong Kong, and Malay odds. Convert odds easily at top sportsbooks. There are two types of odds the bookmakers’ odds and the true odds. China to win their World Cup qualifier may be to win at home at an online sportsbook but the true’ odds their chances could be as high as It’s your job as a punter to find the best prices.

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A gambler with a good working knowledge of the odds systems would look at these odds, or price’, and then see how likely it is for an event to occur.

With hundreds of sportsbooks at their disposal, they can shop around and find the best value. Comparing the best odds between different companies is crucial for the bettor. An explanation of how sports betting odds work, how bookies make money, as well as the different formats of odds fractional, decimal and moneyline. Odds are an important aspect of sports betting. Understanding them and how to use them is crucial if you want to become a successful sports bettor.

Odds are used to calculate how much money you get back from winning wagers, but that’s not all. What you may not have known is that there are several different ways of expressing odds, or that odds are closely linked to the probability of a wager winning. They also dictate whether or not any particular wager represents good value or not, and value is something that you should always consider when deciding what bets to place.

King Yao wrote a book called "Weighing the Odds in Sports Betting." While it focuses on sports betting odds only, it would do a good job of conveying the basics of odds betting on any level. Where might one increase the betting odds on sports? There are many ways to increase betting odds in sports many sites give a good knowledge to win and have a successful betting odd on sports so when we follow this we can surely win the betting. So keep checking and surfing in net to find the best way to win the betting odds of sports. A live sports betting odds feed, plus an explanation of how sports betting odds work for beginner sports bettors that are looking to learn the basics.

If you are new to sports betting and don’t understand how to read betting odds +, +, etc we will lay it all out for you and help you learn how the betting odds work.

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Understanding how to read odds is a crucial step to becoming a successful sports bettor. From determining how much money you want to wager to figuring out which bets offer the most value, it all starts with a solid understanding of the odds.

What Are American, Decimal, Fractional Odds? Odds are displayed in either American, Decimal, or Fractional formats, and serve two purposes They signal the implied probability of the outcome they are attached to. They indicate how much money you could win betting on that outcome. Betting Planet Sports betting sites in Australia Australian horse racing.

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Australia has a champion horse currently racing. Winx has stolen the public’s imagination with 13 consecutive wins including many group If there is one thing Australians place above all else in their homeland it is sport, and amongst the upper echelon is the sport of kings horse racing.

Attracting an annual wagering amount of 15 billion via the traditional methods alone, it could be argued that horse racing is Australia’s national pastime. Not only is it bet upon more than any other sport in the cou.

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Matched betting works by using lay bets to cancel out any risk that a back bet poses. You back and lay against the same result in order to remove all risk.

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You cannot lose your bet because you have every outcome covered. This is how betting exchanges make their money, versus regular bookmakers who make their money by providing you unfair odds. Even with commission factored in, exchanges return more profit on your bets almost all of the time. Liability is the amount of money you stand to lose’ on a lay bet.

For example, if you placed a 25 bet with a bookmaker at odds of 21, you stand to win 50 in profit. The bookmaker’s liability in this scenario is therefore When laying bets, you become the bookmaker. Learn about betting odds, including how to work out your returns from fractional and decimal odds.

We also talk through working out probability from betting odds. With screens full of odds such as 52, 112 and 172, trying to work out your returns and the probability of your horse winning can seem impossible. Thankfully, once you know what you’re looking at, it gets much more simple! Read on for our guide to betting odds and how to use them effectively.

You can follow our horse racing tips daily, where hopefully the odds are in our favour! Odds are a set of numbers that are used to interpret the chance of something happening. The smaller the odds, the bigger the chance of that thing coming into fruition. In Australia, an online sports betting site will offer picks and odds that favour the team or player with a better track record.

However, setting these odds and updating them depends entirely on performance. Betting lines will constantly change before and during the game according to the probability of a win, bonus bets or a tie. These are verified multiple times for AU bettors before being posted on Aus sports betting sites. How do sports spread betting work?

A spread in sports gambling is a great way for AU bettors to hedge their bets by betting on both teams. Commonly referred to as a point spread, this option depends on the accuracy of your guess instead of a win or loss.

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Enhanced odds are a great opportunity for customers to take advantage of some of the best value bets to be found anywhere online. They’re available for new and existing customers, although new customers can also benefit from outrageous price increases as part of their sign up.

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There are tons of enhanced odds and price boost offers out there so you can choose a bet that represents great value from your favourite sports or markets. Find out exactly how you can find the very best football odds around and how to use the highest odds to drastically increase the amount you could win?

If you prefer to work in decimal prices, it’s even easier to find the best odds available. Quite simply, just choose the higher number on offer. For example, a price of would be better than a price of Getting the best football betting odds also gives you greater scope to absorb unsuccessful bets.

If you’ve just won an extra, you can therefore withstand extra losses of in the future. Ignoring the sites that offer lower odds is also something that will help every online gambler, as it should encourage the site in question to be more competitive with their prices in the future. A staking plan determines how much of your balance to bet on X now that you’ve chosen that selection.

If you’re selections are poor, no staking plan in the world will work for you. The best attribute a staking plan can have is one that prevents you from placing blow-out wagers in a desperate attempt to win back previous losses. In the simplest case, suppose every bet is made at odds of The first wager is w0 2 1 If it loses the second wager will be w1 + 2 1 The only way this strategy can work in the long run is if you have access to unlimited funds. Given that this is never possible, this strategy will always lead to ruin if employed for long enough.

For this reason, we do not recommend the martingale strategy. If you bet on sporting events, you must be able to read odds and understand what they mean. Furthermore, you need to quickly calculate the potential winnings for different bets, especially if the odds are changing while the event un.

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Q Is online betting legal in Australia? Yes, there are numerous sportsbooks that are licensed to operate in Australia. Laws vary between different states, with the main factors including the legal age to gamble 18+ and the operator obtaining reasonable proof of identify from its customers. Q How do betting sites make money? Bookmakers set odds for sporting events and use mathematical betting margins to try and make a profit on each market. Sometimes known as the overround’, this built-in percentage theoretically gives the bookie an edge’ on everything they price up.

Payout usually take around working days to process, although some e-Wallet transactions are completed much quicker. Q Are betting sites safe and secure.

How the actual odds are generated is another matter in the case of Bet a lot of their competitors use the Bet Genius group for Odds Data e.g. Sportingbet, Paddy Power, Sky Bet. They will probably then make small adjustments to this based on their typical clients betting preferences e.g. What type of action they take and biases. Plug the ratings generated by your least squares work in and you have a set of percentages against a given spread. I believe that this can also be applied to a lot of other sports e.g Australian Rules Football.

Find out more about how betting odds work and how you can find the best possible returns from your bets on various sports. In this short guide, we’re going to look at how odds work, and why they are so important. Calculating Probability with Betting Odds. Odds help us to understand how likely certain scenarios are when it comes to different events.

For example, we can read betting odds to determine whether or not a football team playing at home can expect to win their next match. Digging a little deeper, there will even be odds to show us how likely it is that they will score a certain amount. Bookmakers set different odds based on their own expertise and a betting exchange.

We’ll give you the low-down on parlay gambling so you can become a sharp bettor, whether you’re wagering on the NFL, or other sports. A parlay is a wager that combines multiple bets on one ticket. Usually, you would pool straight-up bets with spreads and totals. However, you can have multiple versions of the same bet as long as it’s on different games. If even one bet in your parlay is a loss, your entire parlay loses.

You can make NFL parlays or combine different bets from various sports. For example, you could make a straight-up bet on a baseball game, coupled with a basketball point spread.

Odds in cricket betting are statistical numbers derived from team rankings, recent forms, player ratings, and teams’ comparison, which are used to predict the probability of the outcome of the result. A high odd signifies a low probability of occurrence while the reverse applies. For instance, if a game has odds and the gamer stakes 20, the total winnings will be Betting odds are like salaries for a job done. If the work rate is the same, then the worker chooses the job that gives the highest pay.

In the same breathe, a higher odd means a higher pay if the odds are successful. Which types of Cricket bets are available? Markets are betting scenarios where odds are placed for staking.

System Bets System bets work similarly to combination bets. One of the main differences, however, is that you have to type 3 of 4 games correctly, for example, and then multiply their odds first with each other and then with the stake. Live betting These bets can only be placed if an event has already started. This is certainly one of the most exciting forms of betting. Here the odds change constantly until the end of the game or the race.

With some bookmakers you can get out of a bet early. The buyout gives you a worse odds than you originally bet, but you can still secure a profit if unfores.

How does matched betting work? Firstly, you don't need to know all the betting terminology if you follow the steps below, but it's important that you know two types of bet which allow matched betting to work A 'back' bet. Betting for a certain outcome to come true. Matched betting works by cancelling out the risk on the 'back' bet at the online bookies by betting against yourself at the same odds know as 'laying' a bet which you can do at a betting exchange.

In other words, you are 'matching' your bet. Following your first or 'qualifying' real money bet, you will then be awarded the free bet by the bookmaker.

Best betting sites for Australians in linfographik.com is the top independently-owned guide for sports betting tips, bonus offers, news and reviews down under. Our staff punt at the same betting sites they write about and are passionate about working in this industry and intent on giving something back to our readers.

If they don’t like a bookie, or we have received oil that a betting site is doing the dodgy we won’t hesitate to inform and steer you clear of them. How do you verify a betting site account? If you are in Australia, verifying your betting account is a straight-forward, usually automatic process where you validate your identity.

Note that the gambler who bets at "odds on" and wins will still be in profit, as his stake will be returned. For example, on a 2 bet, the gambler will be given 1 plus the returned stake of 2, yielding a 1 profit. These are worked out for some simple odds odds ratio.

The use of odds in gambling facilitates betting on events where the relative probabilities of outcomes varied. For example, on a coin toss or a match race between two evenly matched horses, it is reasonable for two people to wager level stakes. However, in more variable situations, such as a multi-runner horse race or a football match between two unequally matched sides, betting "at odds" provides a perspective on the relative likelihoods of the possible outcomes.

If everyone knows this secret then it’s not really a secret anymore, since the betting odds will shift accordingly to erode this advantage we currently enjoy or exploit, lol. The biggest secret is this to quote from you since you’re the master betting on draws is the only long-term sustainable way to profit consistently in soccer betting.

Diego Can you give our readers a breakdown of an average month of betting how do you make that 3,? Thomas In simple terms, our strategy is a staking method developed using mathematical calculations on bankroll management designed to ensure profits in the long run. I have a degree in math and work in a math-related field.

I guess I have always been a statistics junkie I mean I like analyzing data and shit like that.

Fixed odds betting terminals - or FOBTs - were introduced to the UK in, and are a growing source of income for bookmakers. Between October and September, they generated more than half of the in-store profit made by the industry - bn. Last month, the government rejected a call from 93 councils in England and Wales for the highest stake to be cut to 2 from.

linfographik.com connects punters with the best odds on offer. Whether you’re into sport or racing, we compare the bookies odds so you can maximise your returns. Compare odds on all sports A-Z.

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This page is dedicated to explaining how sports betting odds work. This is great for beginner sports bettors that are looking to learn the basics. It’s essential to understand that odds are a determination of how a specific event may play out. They are not saying that the event will end in the manner predicted. They predict the likelihood of an outcome. Those wagering on the favored team usually do so at a disadvantage, while those wagering on the underdog are given an edge.

Sportsbooks do this in an attempt to even out the bets so that there’s an equal amount of cash placed on each team. When wagering, you’ll find that there are three basic ways that odds are listed Odds Converter - Convert Betting Odds. Enter the odds in any format an.

Odds means the probability of an event to occur. Be it football or tennis odds, we need to understand the probability. Check out our complete guide on odds! Being able to calculate probabilities and compare those to the betting odds available on a particular event will help you to get what is the holy of holies in the betting world value.

Just because you fancy a certain horse or a certain football team does not mean you should automatically go and back them. Betting on bad value selections is a sure fire way to lose money in the long run and learning about odds and probability will help you to stop that from happening.

Understanding Betting Odds - How do betting odds work.

Are you a little confused about how betting odds work? Perhaps you can’t quite get your head round the subtle differences between fractional and decimal odds. Maybe tote betting odds leave you out in the cold. And whatever is meant by money line odds, do I really need to know? Decimal odds have traditionally been used in continental Europe, Canada, Australia and New Zealand, however online betting has made them popular in the UK too.

Many online bookmakers allow you to choose between decimal and fractional betting odds. A few years ago they were trialled at actual race meetings in the UK, but they proved unpopular with the punters. The fundamental difference with decimal odds is that they already account for your stake being returned.

After learning how betting odds work, bettors need to find now the best betting odds available. While some may opt to make odds comparison by opening multiple online sportsbooks at once, there is a more straightforward way to comparison betting odds on sports. The best way is to check out our odds tables here at Canada Sports Betting. We compare betting odds from many of the top-rated online sportsbooks available in Canada, to help Canadians find the best odds on the biggest games and sporting events.

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American odds for betting on a favorite work by showing how much money you would have to risk in order to win Sports Betting Odds Quiz How Well Do You Know Your Odds? As the name suggests, American Odds are mostly popular with sportsbooks here in the United States. A live sports betting odds feed, plus an explanation of how sports betting odds work for beginner sports bettors that are looking to learn the basics.

Odds Comparison Compare the best racing sport betting odds from Australian UK bookmakers with market movers, fixed odds, betting fluctuations more. Compare Australia New Zealand Horse Racing Betting Odds.

How does a Betting Exchange work? The big difference with exchanges compared to bookmakers is they allow lay betting. This means backing a selection to lose rather than win. Every bet placed on a betting exchange involves two bets really - one bet backing the selection to win, and a second bet backing the same selection to lose.

Black and Ed Wray, who worked in finance at JP Morgan, met by chance, and happened to start talking about the lack of value on horse racing markets. Black's interest in combining the stock market and sports betting came up, and the two began looking for backers for the exchange idea. Betfair was launched on June 9, - the first Oaks of the new millenium.

Australian Sports Betting Apps For iOS, Android Mobile. Bet Easy may seem like a new name in the market but they are actually just a rebranding caused by a merger of other companies. Formerly known as Crownbet, Bet Easy have also purchased William Hill’s Australian arm. How does tax on gambling work? In Australia, the tax is applied to the bookmaker rather than the customer. The bookmakers pay a levy to the government on their takings and incorporate this into their costs.

Winning a bet is considered a windfall so it is not classed as an income for regular players. This differs from fixed odds betting where the returns are at a set price regardless of how many people bet on it.