Everything we must know about ODDs in sports betting :)

Dainye_dyep

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Quote from: micher143 on March 02, 2019, 08:42:16 PM

Quote from: ricardobs on February 19, 2019, 02:37:34 AM

Like myself, I guess many gamblers here are getting confused on properly understanding about what is odds and what its significance in deciding profit levels. (I guess on the event of loss, there will be no need of odds as there will be only zero payments, right ?).

I just checked on wikipedia and found this:

Quote from: https://en.wikipedia.org/wiki/Odds#Gambling_odds_versus_probabilities

In gambling, the odds on display do not represent the true chances (as imagined by the bookmaker) that the event will or will not occur, but are the amount that the bookmaker will pay out on a winning bet, together with the required stake.

I am just a dice gambler (precisely, I am a gambler only after adopting cryptos) and now want to extend my gambling into sports betting too. I have tried few dart and cricket betting and made profits too as per my friend's guidelines and honestly at those times I never bothered about what was odds. But, now I want to be independent sports better hence want to learn about odds.

By simply skipping the part of "odds", will we able to make profits in sports betting like capability of predicting the winning team is alone enough ?

It will be easy to predict on who will be the winning team in sports betting if you do really know every team in the sports you designate to bet on. It will be risky if you will just believe on hearsays by other people because you will be the one who must know on how the performance of the playing team goes on based on their past game performance that is why you need to be a great fan of sports so you can totally know not just the team statistics but as well the capability of every players on the team to fight back against the opponent team to better have a good conclusion on who will win the game not just barely based on prediction but also because you do know where you have entrusted your bets on. That is what I have known about sports betting but have not yet tried into playing because I am just contented playint into an online casino which is a lot more convenient for me, and also I can enjoy variety of games they have plus the bonus reward for doing my first deposit on it.

That's right. There is no trick on winning in sports bet because you just have to know better the playing teams in the court or in the field and you must be knowledgeable with the rules as well so that while waiting for the results to come out, you will enjoy yourself watching for the both teams playing especially to the team where you have placed your bet in which you are analyzing their performance for the next game to come. Well, it is fun to watch sports on a live event but it is sometimes tiring and I guess that online casino you were saying is a lot more convenient to play those variety of games you were up to, interesting.

Muzika

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Quote from: ricardobs on February 19, 2019, 02:37:34 AM

Like myself, I guess many gamblers here are getting confused on properly understanding about what is odds and what its significance in deciding profit levels. (I guess on the event of loss, there will be no need of odds as there will be only zero payments, right ?).

I just checked on wikipedia and found this:

Quote from: https://en.wikipedia.org/wiki/Odds#Gambling_odds_versus_probabilities

In gambling, the odds on display do not represent the true chances (as imagined by the bookmaker) that the event will or will not occur, but are the amount that the bookmaker will pay out on a winning bet, together with the required stake.

I am just a dice gambler (precisely, I am a gambler only after adopting cryptos) and now want to extend my gambling into sports betting too. I have tried few dart and cricket betting and made profits too as per my friend's guidelines and honestly at those times I never bothered about what was odds. But, now I want to be independent sports better hence want to learn about odds.

By simply skipping the part of "odds", will we able to make profits in sports betting like capability of predicting the winning team is alone enough ?

if people will just predict it is a 50-50 gambling chance but if people will look some information regarding the teams then the advantage is on its side, unless the competitors are battling using an advantage like home court advantage in basketball, when it comes to other sports betting like tennis it is anybody's game also on the soccer sports betting no one can predict it nicely even underdog has a high chance of winning in that kind of game.

micher143

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Quote from: ricardobs on February 19, 2019, 02:37:34 AM

Like myself, I guess many gamblers here are getting confused on properly understanding about what is odds and what its significance in deciding profit levels. (I guess on the event of loss, there will be no need of odds as there will be only zero payments, right ?).

I just checked on wikipedia and found this:

Quote from: https://en.wikipedia.org/wiki/Odds#Gambling_odds_versus_probabilities

In gambling, the odds on display do not represent the true chances (as imagined by the bookmaker) that the event will or will not occur, but are the amount that the bookmaker will pay out on a winning bet, together with the required stake.

I am just a dice gambler (precisely, I am a gambler only after adopting cryptos) and now want to extend my gambling into sports betting too. I have tried few dart and cricket betting and made profits too as per my friend's guidelines and honestly at those times I never bothered about what was odds. But, now I want to be independent sports better hence want to learn about odds.

By simply skipping the part of "odds", will we able to make profits in sports betting like capability of predicting the winning team is alone enough ?

It will be easy to predict on who will be the winning team in sports betting if you do really know every team in the sports you designate to bet on. It will be risky if you will just believe on hearsays by other people because you will be the one who must know on how the performance of the playing team goes on based on their past game performance that is why you need to be a great fan of sports so you can totally know not just the team statistics but as well the capability of every players on the team to fight back against the opponent team to better have a good conclusion on who will win the game not just barely based on prediction but also because you do know where you have entrusted your bets on. That is what I have known about sports betting but have not yet tried into playing because I am just contented playint into an online casino which is a lot more convenient for me, and also I can enjoy variety of games they have plus the bonus reward for doing my first deposit on it.

Oceat

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Quote from: shield132 on February 25, 2019, 06:45:38 PM

High/small adds have link between team's win/loss possibility when top team plays against weak opponent. But at the same time odds are very misleading when there is math between top teams.
On another hand casinos lie on odds of teams/matches which 99% of people don't know and haven't heared. Once I caught three 10x odd in one ticket, yeah it's 1000x and had 1$ bet. I had no idea on that teams and only was looking for some teams that had 10x odd.

That's what you called a strategy or manipulating the result but if you are a professional gambler you should way up ahead of them and they can't fool you no matter what they do. As long as you have the information needed nothing can beat you except yourself.

Idrisu

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Thank you op for explaining this to us because I was thinking that odd to Mean the probability of winning against lossing! However, after go through this thread I now have a new ideas about what an odd is. I really appreciate that.

prtty2gal2

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Quote from: MakeMoneyBtc on February 20, 2019, 11:47:27 PM

Quote from: ricardobs on February 19, 2019, 02:37:34 AM

By simply skipping the part of "odds", will we able to make profits in sports betting like capability of predicting the winning team is alone enough ?

Even though when you bet on sports you have hundreds of different combinations to play like goals, corners, fouls, players and a lot of other bets, I think you can still make profit only from betting on the winning team. But you have a big disadvantage here and that because you cannot bet on every match since there will be times when you will find matches like Atletico-Juventus last night and here the right bet would have been on goals or corners, while many people have probably bet on Juventus. But still, if you are careful enough and choose the right matches and know how to analyze them you can make profit.

With the increasing trend of online gambling there are a lot of gambling sites available who care provide you opportunities to play gambling on so many match at a time. For example today if there are 3 international matches, while two league match, so you have the facility to play bet on any match you want. You can even plat multi bets on different matches. Even in a single match you have hundreds of opportunities to place your bet on different events.

imstillthebest

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Quote from: goaldigger on February 25, 2019, 05:41:12 PM

Yes we can determine the odds of every game but i guess it dorsnt affect the mindset of the gambler. Even thats a million odds vs. A hundred, still people wanted to bet in it.

the reason why gamblers determine the odds of a certain game is because they wont risk thier cash playing it if they found out that the odds were too high enough for that game . odds really affect the mindset of a gambler . in my case i love to play games with a lower odds .

Quote from: goaldigger on February 25, 2019, 05:41:12 PM

Greater odds sometimes have many better mostly. If you are lucky enough, even those who are seems impossible wil be possible to you.

this is true . greater odds like lottery do have many bettors than compare to lower odd type of games and whats more better is that the prize pool for higher odd games are also huge but the only problem is that winning them might be nearly impossible . you are more likely to harm your self than winning on these kind of games .

shield132

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High/small adds have link between team's win/loss possibility when top team plays against weak opponent. But at the same time odds are very misleading when there is math between top teams.
On another hand casinos lie on odds of teams/matches which 99% of people don't know and haven't heared. Once I caught three 10x odd in one ticket, yeah it's 1000x and had 1$ bet. I had no idea on that teams and only was looking for some teams that had 10x odd.

goaldigger

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Yes we can determine the odds of every game but i guess it dorsnt affect the mindset of the gambler. Even thats a million odds vs. A hundred, still people wanted to bet in it. Greater odds sometimes have many better mostly. If you are lucky enough, even those who are seems impossible wil be possible to you.

JohnBitCo

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Quote from: playboy654 on February 24, 2019, 02:36:41 PM

Quote from: Ucy on February 22, 2019, 06:10:17 AM

Quote from: leonair on February 19, 2019, 08:31:38 AM

I prefer gambling in sports more than dice though because besides it's entertaining, you use to analyze real events that will also make you think rather than just rolling random numbers. If you are so hooked into a specific sports then it would really help you a lot as passion will kick in.

I play parlay most of the time and chooses teams win high percentage of winning rate even though it has less multiplier.

This is a reasonable explanation!
I sometimes wonder why sports betting is seen as gambling. There really could be skilful people who could make accurate sports predictions. If this is the case then it doesn't qualify as gambling in my opinion. Betting is more appropriate word. .

yes gambling is different from betting in something because we have some knowledge about something while we are getting is called as not gambling the perfect word will definitely be betting and we can use our skills and that but in gambling we not use the skills but only being supported by the luck.

Betting is a one kind of gambling. Whenever there is a speculation in anything, it comes under gambling. You predict something for risk and reward and it is called betting. People use gambling and betting interchangeably and there is no harm in it.

arco-yabamba

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Quote from: Natalim on February 21, 2019, 12:29:34 AM

Welcome mate, if you love sports I'm sure you will appreciate sports betting.
Thanks for sharing anyway but that is just a basic terms and even gambler who are into sports needs to understand that.
I would like to add some Sports Betting Terms: A Glossary For Sports Bettors.

Nice link, especially for US betting.

This is also useful, more UK based including betting exchange terminology:
https://betting.exchange/glossary/

pixie85

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Quote from: Ucy on February 22, 2019, 06:10:17 AM

Quote from: leonair on February 19, 2019, 08:31:38 AM

I prefer gambling in sports more than dice though because besides it's entertaining, you use to analyze real events that will also make you think rather than just rolling random numbers. If you are so hooked into a specific sports then it would really help you a lot as passion will kick in.

I play parlay most of the time and chooses teams win high percentage of winning rate even though it has less multiplier.

This is a reasonable explanation!
I sometimes wonder why sports betting is seen as gambling. There really could be skilful people who could make accurate sports predictions. If this is the case then it doesn't qualify as gambling in my opinion. Betting is more appropriate word. .

Are you for real? Sports betting is gambling because you can lose all your money if like the OP has quoted the event does not occur.What's the difference between betting on heads or tails in a coin toss and betting on 3 goals for one team in a football match? It can happen or it can not happen and if it doesn't your money is gone. Isn't that the definition of gambling?

playboy654

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Quote from: Ucy on February 22, 2019, 06:10:17 AM

Quote from: leonair on February 19, 2019, 08:31:38 AM

I prefer gambling in sports more than dice though because besides it's entertaining, you use to analyze real events that will also make you think rather than just rolling random numbers. If you are so hooked into a specific sports then it would really help you a lot as passion will kick in.

I play parlay most of the time and chooses teams win high percentage of winning rate even though it has less multiplier.

This is a reasonable explanation!
I sometimes wonder why sports betting is seen as gambling. There really could be skilful people who could make accurate sports predictions. If this is the case then it doesn't qualify as gambling in my opinion. Betting is more appropriate word. .

yes gambling is different from betting in something because we have some knowledge about something while we are getting is called as not gambling the perfect word will definitely be betting and we can use our skills and that but in gambling we not use the skills but only being supported by the luck.

kryptqnick

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Quote from: ricardobs on February 19, 2019, 02:37:34 AM

Quote from: https://en.wikipedia.org/wiki/Odds#Gambling_odds_versus_probabilities

In gambling, the odds on display do not represent the true chances (as imagined by the bookmaker) that the event will or will not occur, but are the amount that the bookmaker will pay out on a winning bet, together with the required stake.

now I want to be independent sports better hence want to learn about odds.

By simply skipping the part of "odds", will we able to make profits in sports betting like capability of predicting the winning team is alone enough ?

While in dice or roulette there are exact mathematical odds of winning, especially if you play online and thus don't have to take into account how perfect the dice are or whether the table it not slightly leaning towards one side. When it comes to sports betting, the odds are calculated approximately by experts taking into account various factors like the strength of the teams as well as on what people are likely to bet:

Quote from: https://www.goal.com/en/news/3049/ask-the-bookie/2010/04/24/1892417/ask-the-bookie-how-are-betting-odds-created

There are a team of people employed by any bookmaker, usually referred to as Traders, Risk Analysts or Odds Compilers. Their job is to produce odds that closely represent the chance of an occurrence.

Any skill-based game has to do with only approximate odds, but at the same time it's this proximity that leaves space for regular winnings.

swogerino

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Gambling in sport betting is surely more fun than in dice. The problem is , here no ones mention the impact the referee can have on the game. Since we are talking about sports betting in specific people must be aware of the fact that no matter how much you analyze the facts , we still lose sometime to odds of 1.15 and the referee has impacted the game.

futile-resistance

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Quote from: Natalim on February 21, 2019, 12:29:34 AM

Quote from: ricardobs on February 19, 2019, 02:37:34 AM

~snip

Welcome mate, if you love sports I'm sure you will appreciate sports betting.
Thanks for sharing anyway but that is just a basic terms and even gambler who are into sports needs to understand that.
I would like to add some Sports Betting Terms: A Glossary For Sports Bettors.

Very nice you have mentioned valuable information about sports betting no doubt. I think that a person can really get too much valuable information from this link. I think that in very beginning when a person join a online gambling site, he need to be too much careful. He should start betting with extremely low amount of money. It will surely give him opportunity to learn about the rules and regulation of an online gambling site. Slowly when he get experience, he can increase his betting amount.

Ucy

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Quote from: leonair on February 19, 2019, 08:31:38 AM

I prefer gambling in sports more than dice though because besides it's entertaining, you use to analyze real events that will also make you think rather than just rolling random numbers. If you are so hooked into a specific sports then it would really help you a lot as passion will kick in.

I play parlay most of the time and chooses teams win high percentage of winning rate even though it has less multiplier.

This is a reasonable explanation!
I sometimes wonder why sports betting is seen as gambling. There really could be skilful people who could make accurate sports predictions. If this is the case then it doesn't qualify as gambling in my opinion. Betting is more appropriate word. .

Natalim

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Quote from: ricardobs on February 19, 2019, 02:37:34 AM

~snip

Welcome mate, if you love sports I'm sure you will appreciate sports betting.
Thanks for sharing anyway but that is just a basic terms and even gambler who are into sports needs to understand that.
I would like to add some Sports Betting Terms: A Glossary For Sports Bettors.

MakeMoneyBtc

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Quote from: ricardobs on February 19, 2019, 02:37:34 AM

By simply skipping the part of "odds", will we able to make profits in sports betting like capability of predicting the winning team is alone enough ?

Even though when you bet on sports you have hundreds of different combinations to play like goals, corners, fouls, players and a lot of other bets, I think you can still make profit only from betting on the winning team. But you have a big disadvantage here and that because you cannot bet on every match since there will be times when you will find matches like Atletico-Juventus last night and here the right bet would have been on goals or corners, while many people have probably bet on Juventus. But still, if you are careful enough and choose the right matches and know how to analyze them you can make profit.

n0ne

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Quote from: ricardobs on February 19, 2019, 02:37:34 AM

Like myself, I guess many gamblers here are getting confused on properly understanding about what is odds and what its significance in deciding profit levels. (I guess on the event of loss, there will be no need of odds as there will be only zero payments, right ?).

I just checked on wikipedia and found this:

Quote from: https://en.wikipedia.org/wiki/Odds#Gambling_odds_versus_probabilities

In gambling, the odds on display do not represent the true chances (as imagined by the bookmaker) that the event will or will not occur, but are the amount that the bookmaker will pay out on a winning bet, together with the required stake.

I am just a dice gambler (precisely, I am a gambler only after adopting cryptos) and now want to extend my gambling into sports betting too. I have tried few dart and cricket betting and made profits too as per my friend's guidelines and honestly at those times I never bothered about what was odds. But, now I want to be independent sports better hence want to learn about odds.

By simply skipping the part of "odds", will we able to make profits in sports betting like capability of predicting the winning team is alone enough ?

Initially while getting into sports betting don't complicate yourself too much. We have got lot of much simple platform accepting cryptocurrency to do sports betting. The odds is the probability of the outcome. This varies according to the teams engaged in the game. If both the teams were equal you'll get equal probability, upon which you can find the multiplier providing almost similar winning.

If one is big and the opponent is not that strong to win, the odds can be seen. In the multiplier getting varied with the strongest having small percentage of multiplier on the betting value and the small team gets big multiplier. This too varies while we are in live betting.

Topic: Everything we must know about ODDs in sports betting :) (Read 423 times)