In the gambling term, odds are defined as the ratio between playoff to stakes. The ‘odds’ term is not necessarily be used in reference of probability. In sports gambling, there are 3 types of odds:
- Decimal odds (European system)
- Fraction odds (British system)
- American odds ( US system)
In this article we discuss about the American Odds in Sports Gambling in brief.
American Odds in Sports Gambling
In American odds, there are two basic categories, the favorites and the underdogs. Each of the categories is represented with a symbol. Favorites are denoted by”-“sign with the absolute value to it. For the favorites, only the absolute value is seen. For example let’s say, a favorite has value of -200 and other favorite has a value of -100, then the probability of the favorite having the value -200 are more for a win. The sign attached to it is ignored.
For underdogs, they are represented with the “+” before the absolute value. In this case, greater the absolute value, greater is the underdog. So the chances of an underdog having the value +100 is greater than the value of underdog having the value +200. As we went through the basics of these odds, let’s see on how it works. If you want to see it in action check out QQ188asia.com the leading sportsbook online website and Asia top best bookies.
How does the odds work?
In the American odds in sports gambling system, the baseline is $100 that is you are eligible to gamble only when you bet from $100. In the case of favorites you risk your money to win $100 while in case underdogs, you risk $100 to win the gambled amount. Let’s take an example which will help in the better understanding of the odds.
If you have favorite with -135 value, you need to risk $135 to win $100 from the bookie. So it’s either you lose $135 or you win $100. In the case of underdogs, if you have an underdog who value is +450, then you need to bet $100 on the underdog to win $450. So it’s either you win $450 or lose $100.
The American betting system can easily be converted to the other systems through the calculators which can be found online. Yet another live example of the American odds system is that, During the ICC world cup 2015, Australia and New Zealand were the finalist and the bookies placed New Zealand on +200 and Australia on -200. Meaning, New Zealand were underdogs and the other team was favorites and New Zealand has fewer probability of winning.
If you have placed a bet of $100 on New Zealand and if they have win then you will end up winning $200. And if you have placed a bet of $200 on Australia and if they win, you will end up winning $400 from the bookie. The mathematics is input stake ($200) + the absolute value ($200) on the team.
This American odds in sports gambling might be confusing for the newbies but for the professional ones, this system is considered to be one of the best for gambling. On official betting sites these three formats are followed for gambling. This format as well has the personnel preference like the remaining two and the conversion of the format to others is also convenient and easy. One can always rely on this format to enter the world of gambling as a novice.