Sports betting has long been a large part of the sports community in New Zealand, and now more and more punters and bookmakers are moving towards a digitized platform with society becoming increasingly fast-paced.
Those who want to get involved in the excitement of online and mobile sports betting should familiarize themselves with the use of betting applications, as well as an understanding of sports betting odds and their formats, from fractional and decimal betting odds to American and European. formats that can be found.
Bet odds essentially represent the prices that bookmakers will pay a bettor if the bet is successful, shown as a proportion of their total bet.
Decimal and Fractional Betting Bets
Before bettors create an account with what they determine is the best in terms of New Zealand sports betting and online betting sites, they will need to determine if they are concerned with dealing with fractional or decimal betting odds.
The decimal odds will represent the payout percentage on a player’s original bet, while the fractional odds will represent a player’s potential winnings as a fraction of their bet, which is also added to the bet on the actual payout.
American and European formats
There are different ways to present betting odds, namely American betting odds and European betting odds. American sportsbooks actually present odds differently and are known as money line odds, however there are some sportsbooks that present their odds in the same format when it comes to betting on American sports that are Found on soccer betting and sports betting sites in Mexico .
The money line odds present a negative number representing the amount a player will need to wager to win a particular win (usually $ 100) or a positive number representing the amount that will be won with a $ 100 bet.
1 × 2 and Asian handicap betting odds
In what is known as a match winning market, there will generally be one of the 3 outcomes, namely win, lose, or tie, and a 1 × 2 bet will allow players to bet on each with the odds shown as one of the formats listed above.
Asian Handicaps offer a similar option, except that it uses a odds calculation that eliminates the chance of winning in a draw, which means that bettors can only endorse a winner with a set margin.
When it comes to betting on soccer, for example, bookmakers will choose a goal handicap which they believe will get the probability of a victory as close to 50% as possible. Subsequently, the betting odds will be displayed as the decimal format explained above.
There are many punters in New Zealand who are concerned about what exactly their betting odds are like, and this is not a surprise to people who are dealing with their hard-earned money.
In essence, betting odds are determined by odds compilers who work to increase the price of the markets and ultimately create the odds seen at sports betting events.
Their job is to ensure that there are as many bets as possible, both for and against the results, and then to make sure they don’t lose too much when bettors claim their successful bets.