Betting on sports isn’t always about luck. Whether you’re a beginner or not, if you want to increase your chances of winning, understanding how the odds work is the way to go. It will help you make a more informed betting decision and have a better grasp of the likelihood of the event occurring.
But if you’re still in the dark when it comes to sports betting, you don’t have to look further because this guide will walk you through everything you need to know. You can now start betting on SolarbetSG with confidence and make betting more exciting and calculated!
Sports Betting Odds Explained
While at first glance, sports betting might seem like a random number included in your wager, they actually indicate an important thing in your bet slip. It shows you how likely an outcome is to occur and how much money you could win if your bet is successful.
In simple terms, odds are the numbers that represent the chances of a particular outcome in a game or event. They also help calculate how much you stand to win based on your bet amount. Whether you’re betting on a football match, a horse race, or a tennis game, the odds are there to guide your betting decisions.
Types of Sports Betting Odds in Singapore
If you’re a regular bettor at Sportsbook Singapore, you may have probably noticed that odds can be shown in different formats. And while they both indicate the probability of an event and how much you can win, they all vary from each other. Let’s break them down into three most common types of odds that you can encounter:
American Odds
Also known as moneyline odds, these odds are represented by either positive or negative numbers. A positive number shows how much profit you’ll make from a bet. While a negative number tells you how much you need to bet in order to win. For instance, if the odds are -150, you’d need to bet $150 to earn a $100 profit.
Example:
To better understand, assume that you wager between Manchester United and Liverpool, and the odds are represented like this:
- Manchester United: + 180
- Liverpool: – 140
Manchester United +180: The plus sign means they’re the underdog. If you bet $100 on Man United and they win, you’ll earn $180 in profit, plus your original $100 back—so a total return of $280.
Liverpool -140: The minus sign means they’re the favorite. You would need to bet $140 just to win $100. If Liverpool wins, you get back $240—that’s your $140 stake plus the $100 profit.
Decimal Odds
Another betting odds is the decimal odds. It is easy to understand representing the amount of bet you can earn for every $1 wagered. This format is beginner-friendly and widely used because it makes calculating potential winnings fast and simple. For example, if the odds are 2.50 and you bet $10, you’ll get $25 in total if you win ($10 x 2.50).
Example:
If you’re a basketball fan, let’s use the leading teams in basketball as an example: Los Angeles Lakers and Golden State Warriors.
- Los Angeles Lakers: 1.80
- Golden State Warriors: 2.10
Assuming that you have $100 on the Lakers at 1.80 odds, you’ll get a total return of $180 if they win. That includes $80 profit and your original $100 stake.
On the other hand, if you bet $100 on the Warriors at 2.10 odds, you’ll get $210 back if they win—$110 profit plus your $100 stake.
All that to say, the higher the decimal number is, the higher the potential payout and vice versa. The lower the decimal, the lower the potential payout.
Fractional Odds
As the name implies, this odds is represented in a fraction form. The number on the right side represents the bet you needed in order to win the number on the left. While fractional odds can seem confusing at first, once you get the hang of it, you’ll see they’re just another way of showing risk versus reward. For example, 5/1 means you’ll win $5 for every $1 you bet—plus your $1 stake back. If you see 3/2, it means you win $3 for every $2 you bet.
Example:
Suppose you bet on a horse match in a Singapore online sportsbook, and the odds are presented as 4/1. If so, it means the following:
For every $1 you bet, you’ll win $4 in profit if the horse wins—plus you’ll get your original $1 stake back. So, a $10 bet at 4/1 odds would return $50 in total: that’s $40 in winnings plus your $10 stake.
Frequently Asked Questions
How to get the best odds in sports betting?
Considering that odds may vary from one another if you’re looking for the best one in the market, choosing the right bookmaker is the way to go. You must choose a sportsbook offering competitive odds to give you a better shot of winning like Solarbet.
Which sport has the best betting odds?
Among all the sports you can bet on Singapore, football is not only the easiest sport you can bet on, it also has the best odds. Not to mention that they have never-ending matches all year round from both local and international tournaments.
Can I bet on sports matches live?
Similar to live casino online Singapore which allows you to bet on the classic casino game live, you can also do the same when it comes to sports betting. So don’t miss the opportunity to bet on your much-awaited sports tournaments, be it football, basketball, horse racing, or even sports. Because now, with just a few taps on your screen, you can jump into the fun of betting most thrillingly and authentically possible.
@solarcs