Q. How do betting odds work?
Odds come in many different formats and it can daunting for new bettors due to the way they are presented. You can find odds in fractions and decimals are the primary formats, but they are also other ways to present odds which included Asian and North American ways of showcasing odds. On Easyodds, the standard format of viewing odds is in fractional formats, however you are able to change these to decimal if you prefer to see your odds in this manner. Regardless of the format of the odds, they work in the exact same way. The easiest way of understanding betting odds is to know that evens (1/1 or 2.0) is a 50% chance of an event occurring. Anything less than evens, e.g. 1/7 or 1.50, has a greater than 50% chance of happening. On the other hand, anything greater than evens, e.g. 5/, 15/4 or 3.70 has a less than 50% chance of happening. Understanding this will help you work out which teams, horses or players are the favourites in each event and which of these have value when betting on specific market.
Q. How do you read odds?
Depending on how you like to show odds (fractional or decimal) will depend on how you read odds. Decimal odds might not be the preferred format with many bookmakers, but they can be a lot easier to understand. If you take 2.00 as a 50% chance, anything below this number is more than 50% chance as happening. So, if you bet £10 on odds of 1.60, to understand how much money you would make from your stake, you just times 1.60 by 10. Therefore, in this bet you would see a £16 return including your stake. Fractional odds can be more difficult to work out if they are closer to evens. What is the difference between 6/5, 5/4, 13/10 etc? Well the answer is very little from a monetary value. When reading fractional odds, the best way to understand them is to understand how much you would win based on a stake. So, if you bet £4 on a selection at 5/4, you full return would be £5, so you would only many a profit of £1. However, if you put £1 on a selection valued at 8/1, then you will receive £8 return and £7 profit from your stake.
Q. Do odds works the same way across all sports?
Yes, odds don’t change format based on sport.
Q. Can I trust the bookmakers on Easyodds?
Yes, you can trust the bookmakers Easyodds showcases on the website. Easyodds only works with bookmakers that hold a UK Gambling License approved by the UK Government. Easyodds believes all the bookmakers are some of the best in the business and we handpick which brand we wish to work with. Therefore, we only promote brands which we believe bring value to a bettor and will be popular with our users.
Q. What does each way bet mean?
Each-way betting is popular among horse racing and golf bettors in particular as each ay betting creates a safety net for their bet. Each way bet means that if your selection doesn’t win the race or tournament, then you can still win some money if they place. Bookmakers set to place limits on each way bets which means if your horse finishes in the top 3 of a race, you will win your bet at 1/3 of the odds. This is a great way to bet if you are betting on a selection with big odds such as 15/1.
Q. What does SP mean in betting?
SP means starting price. This is the price the selection is valued at by the bookmakers when the event starts.
Q. What does draw no bet mean?
Draw no bet means exactly as you could imagine. If you bet on a team in this market, your bet is voided if it is a draw. Your stake will be returned as if you didn’t place a bet in the first place. However, if you win your bet, you will get smaller odds than if you went through the to win market. Draw no bet betting is perfect if you are unsure about the team winning the game and you wish to have a safety net in your bet.