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If you are new to sports betting, the first thing you have to know is how betting odds work. But in case you have more doubts, in this article, you will find a list of the most asked questions for sports betting. Know everything before you start betting on your favorite sport!
1. What are the Odds?
The odds show you the possible profit you can have on each bet. For instance, if you bet 100 euros at odds of 2.2, you can make a profit of 120 euros on a winning bet.
100 x 2.2 – 100 = 120
In addition, the odds of a particular event also indicate the probability of it actually happening.
2. How odds are calculated?
The odds are calculated by dividing 100% by the implied probability you give to an event. The lower the probability is, the higher the odds:
100% / 20% = 5.00
On the other hand, the lower the odds, the more probabilities that the event happens:
100% / 80% = 1.25
3. How many types of betting odds are there?
There are 3 main types of betting odds: decimal (European) odds, fractional (British) odds and American (moneyline) odds. These are simply different ways of presenting the same thing, and hold no difference in terms of payouts. They are expressed this way:
4. Can the odds vary?
Yes, odds for a particular event may change due to unexpected events. But bear in mind that once you have placed your bet, you cannot change them, regardless of what subsequently happens.
5. Which sports can I bet on?
You can practically bet on any existing sport, but this will depend on the bookmaker you choose. All bookmakers offer numerous bets on football, basketball, tennis, rugby, and American sports. However, if you are a fan of other no-standard sports, you can find a betting house that will allow you to bet on your favorite sports.
MAKE THE MOST OF YOUR SPORTS PREDICTIONS
6. Is it possible to bet during a match?
Yes, is possible to bet during a match, with the live bets. In this case, the odds fluctuate very quickly according to the action and the score of the match. This option is very exciting.
7. What if the match is abandoned before the end?
If a match is abandoned, bets on the final result are normally canceled, unless a competent authority issues a decision on the final result of the match. But this rule does not apply if the outcome of a bet was already known when the match was abandoned. For instance, a bet on the result at the end of the first half is fully valid if the match was abandoned in the 60th minute.
8. When betting on the play-offs stage, does the result have to be predicted before or after extra time?
This is one of the most asked questions about sports betting. You will have to bet on the result of the match BEFORE the extra time unless the bookmaker states otherwise in the description of the bet.
9. How is the payment procedure when I win or lose a bet?
In order to bet you have had to open an account with the bookmaker, and for any payouts, the bookmaker simply credits or debits into your account. This is normally done within an hour of the results of the event. Once the amount has been received, you will be able to transfer your winnings from your betting account to your bank account.
10. How can I make as much money as possible betting on sports?
A bettor can win big by having a good strategy, but the most important is to know whether or not the odds the bookmaker offers are a genuine reflection of the probability of the event happening.
👀💥🔥 Useful tips for sports betting 🔥💥👀
🔸 Know well the sport you are going to bet on 🔸 Follow the predictions of sports experts 🔸 Study well the odds of the event 🔸Know the markets well 🔸 Keep a betting record 🔸 Stay impartial, don’t bet emotionally 🔸 Have a budget and stick to it 🔸 Consider also the small wins.
We hope we have answered all your questions about sports betting. However, if there is anyone missing, please do not hesitate to contact us!
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