If you are reading this, it is probably because you are taking your first steps as far as sports betting is concerned, and you are a bit lost on how to start betting with your free bets. If so, do not worry, we are here to help you.
If you continue reading, you will discover everything that concerns one of the most basic and important concepts of this world:
What Are The Odds Of Betting
In order to fully understand this concept, we must first understand the term that supports it.
We refer to the probability, which in the field of sports betting shows us, expressed as percentages, the frequency with which a given selection is given.
Let’s exemplify it in the simplest way possible:
- Suppose we have a currency.
- When thrown into the air, the coin will present the same chances that it will be expensive as if it were a cross.
- In this case, translated as a percentage, each side of the coin will have a 50% chance of appearing when it falls on the ground.
- And how is that percentage calculated? Well, very easy, you have to divide 100% among the possible results that, in this case, are two.
- Once we have reached this point, it will be very easy for us to understand what a quota is since this is nothing more than the method chosen by the bookmakers to represent that probability.
However, the problem arises when we realize that there are several ways to express that probability (decimals, fractional, and American).
Let’s take a quick look at each of them to clear any possible doubt:
Also known as European; These fees are the most common and hardly need explanation.
They are always equal to or greater than one and, depending on the bookmaker that uses them, can present 2 to 3 decimals.
This type of quota is very common in the United Kingdom, and with the fraction, the amount wagered and the net gain it implies.
For example, if we have a fee of 7/2, it means that we will win 7 dollars for every 2 wagered.
If you do not have the possibility of opting for the decimal fee, which is much easier to understand, you can always do a manual conversion if you do the division that presents the fraction and subtract one from the result (in the case of a fee of 7 / 2 would be: (7/2) – 1 = 2.5).