New and existing punters from Canada in quest of the best odds for sports betting markets may feel overwhelmed by the numerous numerical values and the terms attached to those values, which flood the majority of online sports betting screens.
Canadian punters just starting out with sports betting may be wondering how one locates the best possible odds on a certain market or bet type using the Internet. With various terms such as American odds, Fractional odds and Decimal odds appearing throughout sports betting sites, making sense of these terms are more straightforward than you may have thought.
In order to source the best odds you need to understand each odds offering and how that offering directly affects your payout ratio against the amount you actually wager. Understanding these principles is basic and all it takes is a little practice with an applied formula.
Master The Value In Betting
Valuable betting is no secret or seasoned affair. Punters from Canada seeking the best odds on sports betting markets need to contemplate the value of the bet. The value of the bet is highly important in all sports betting as this allows punters to lay wagers on better odds at a better chance of winning with those odds, making for potentially lucrative payouts.
Valuable betting comes through extensive research and undivided attention to a particular sporting market. For example a Canadian with a keen interest in ice hockey may know all there is to know on ice hockey. The teams, coaches, players, injuries affecting teams, next game bans and all other information that directly affects the result of an upcoming game.
The bookmaker may provide odds on team A versus team B. With better knowledge of the game itself one may find that the bookmaker has under priced or undervalued one of the teams providing you with a surer bet on the game that allows you to make a better call, resulting in more valuable odds on the game.
Now if the same punter seeks out soccer betting markets with little to no knowledge of that particular market, the value of the bet is said to be low as the punter can not make a holistic call with knowledgeable facts as to the outcome of the event.
The Basic Route Of Odds
No matter which type of odds an online sports betting website displays, they all have one common feature. All odds represent the amount you stand to win versus the amount you actually wager on the event, like your favourite team odds for Saturday AFL betting.
Punters from Canada need to understand each odds set before locating the best possible version of that set. Making use of helpful tools on the Internet can help you source the best odds offering but understanding that offering allows for the most valuable type of wager
Odds As Decimals
A decimal place number represents decimal odds. For example 2.0 decimal odds at a $1 wager will provide you with a $2 profit. Similarly decimal odds at 7.0 will provide you with a profit of $7 if you wagered $1 and your bet wins.
Odds As Fractions
Fractional odds are represented by fractions; this means that fractional odds have two distinct numbers, a denominator and numerator.
The denominator or number to the right i.e. the second number is the amount to bet. The numerator, or first number on the left represents your potential profit.
For example fractional odds of 10/15: For every $150 wagered, potential net profit would be $100. Should your bet win, your original stake of $150 will be returned to you along with your profit.
Understanding American Odds
American odds are represented with positive and negative icons. Negative icons tell you how much you need to stake in order to make a $100 profit and positive icons tell you what you could potentially win from a $100 bet.
For example; American odds at –500 tells you that you need to wager $500 in order to make a $100 profit.