Odds Betting And Read Them

Different types of betting odds and how to read them

The odds are one of the most integral factors that a gambler has to assess before placing bets. Betting platforms such as casinos and sportsbooks have different ways to present them but there are three major types available almost everywhere. Those three types are decimal, fractional, and moneyline. 

It is up to the gambler which type of odds they prefer. It can be based on what is familiar for veteran gamblers or which one is easier to get used to for beginners. Every bookmaker has an option that lets you change between them. Other betting sites may hide it under the settings page. In the case of Gamdom, you can find it on the menu on the right.

Changing the odds type won’t have any major impact on the bet rewards. They are only meant to help you decide which market suits your betting strategy best. Having the ability to read the odds and calculate the outcome lets you bet quickly at ideal odds before they change at any bitcoin casino. 

Decimal odds 

These are also known as European odds because it’s more popular for Europe-based online betting sites. The former is its more popular name because it displays the odds in a decimal format. It’s often referred to as the easiest type of odds to learn and work with compared to the other three so betting sites outside of Europe often have it as a default option.

How the decimal odds work is simple: you take your stake then multiply it to the decimal odd number of your bet, then the product is the total payout. For example, betting 100 mBTC or any supported Gamdom casino cryptocurrency to a bet with 1.50 odds will give you 150 mBTC back. For sports betting events, the higher decimal is the underdog while the lower one is the favourite. 

The decimal odds is the best format for beginners to start with given its relatively simple format. It involves a straightforward calculation that most people can do almost instantly at a glance, making it easy to settle decisions as soon as the markets are opened. 

Fractional odds

Decimal odds type is also known as ‘digital odds’ because it is a product of modern systems. Fractional odds, on the other hand, is sometimes called ‘traditional odds’ because it’s one of the first formats adopted for sports betting. It is also known as British or United Kingdom (UK) odds as per its origin and it is popular among British and Irish bookies. 

Fractional odds are often displayed with a slash (/) or a hyphen (-). In other cases, it can be shown as a colon (:) which is most often seen in live table games. These characters imply division between two numbers to display the odds of happening in a more oral conversation. For example, an odd written as 5/1 is read as ‘five to one’. This is a very common format in guides for casino games like roulette and blackjack.

Fractional can be more complex for beginners who are unfamiliar with traditional odds. Most are easy to follow as the denominator is often (/1). However, some can be written as 3/2 or 6/4 which are very precise for showing the actual payout but difficult to compare to other fractions. 

Having a higher numerator often means a higher payout but lower odds but many become confused when comparing 2:1 from 3:2. If laid down in decimal odds, 2:1 is 2.0 while 3:2 is 1.5, making the former the underdog. Fractional odds are best suited for consistent odds like in table games rather than options that change like Gamdom’s sports betting markets.

Moneyline odds

This type is popular in betting sites for gamblers from the United States (US) so it’s also called ‘American odds’. It’s a straightforward format that revolves around a bet or payout of 100. The format is designed for US dollars but the same calculations apply to any casino cryptocurrency.

Odds with a positive sign (+) indicate that this is how much you will earn for every 100 mBTC that you stake plus your stake back. If you bet 100 mBTC for a +200 bet, then you get 300 mBTC as the total payout. Meanwhile, odds with the negative symbol (-) tell you that this is how much you should bet to win 100 mBTC. That means you need to stake 200 for a -200 market to win back 100 mBTC. Betting only 100 mBTC on a -200 market will give you a 150 mBTC.

The + and – signs in moneyline makes it a lot easier to determine which one is the underdog or favourite of the match. That’s why it’s very popular for in-play betting on matches. It’s also great for quickly filtering the roster of teams in an outright bet or contestants in a race. All you have to do is focus your attention on positive odds if you are rooting for the underdogs or go for the negative ones if you want a safer bet. 

Bottom line

Understanding the basics of how to read and calculate one of the three odd types should be enough for playing at any bitcoin casino. If it’s your first time betting, then your decision is just a matter of preference. Gamdom can give you the best odds in terms of potential winnings compared to most sites so feel free to pick whichever you like. 

All three formats can be interchanged seamlessly across all markets so your betting experience can be similar in either way. Feel free to explore different types of strategies or patterns in any format right here at Gamdom, one of the best crypto gambling sites in the world.

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