Even though it's important to know how your moneyline betting odds work in Skyexchange Id, it's also important to know the difference between the three ways odds can be shown. Your Skyexchange Id may let you switch between the three. They all show the same odds, but in different ways that can be hard to understand if you're not used to them.
Most people in the United States use Indian and American odds in Skyexchange Id. These are shown as a plus or minus number, usually in the hundreds, thousands, or even tens of thousands for a big underdog.
A good thing to keep in mind when reading Indian odds is that they tell you how much you could win if you bet $100 on the underdog or how much you need to bet on the favorite to win $100.
If you want to place a moneyline bet on the NFL, for example, you might see:
The Buccaneers lost 105 to 105.
+130 for the Kansas City Chiefs
The team with the negative number is the favorite, and the team with the positive number is the underdog. So, if you bet $100 on the Chiefs, you would win $130, but if you bet $100 on the Buccaneers, you would need to bet $105 to win $100.
These odds are pretty low because these two teams are pretty evenly matched, but if you saw something like -300/+650, you would think that the Buccaneers are heavily favored and the Chiefs have a small chance of winning.
Over the past few decades, decimal odds have become popular in Europe, and they are still very common in the United States, even though American odds are used. Your decimal odds number is the amount you get back for every dollar you bet, so it's pretty easy to understand.
If you are doing the math in your head and want to find out how much you will win quickly, multiply the amount you are betting by the odds.
Fractional odds aren't as popular in the US as they are in European countries like the UK, but they are still an option and should be mentioned. Odds are shown as fractions, and you need to multiply the amount you bet by the top of the fraction and divide that number by the bottom.
So, if we bet $10 on the Chiefs with the same moneyline odds as above, their odds would be 13/10, so we'd multiply 1013 then 13010 = $13, plus your initial $10 bet, for a total payout of $23.
Tip: If you bet the same amount as the denominator (the bottom number), you will win the numerator (the top number) plus your initial stake.
The Implied Probability is a great way to figure out how to bet on the moneyline. This number will tell you how much the oddsmakers put on each team. Even though American odds are still fairly new, you would need to change them to decimal for this calculation.
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