There’s no doubt about it; the COVID-19 pandemic has caused the online gambling industry to soar. Stuck at home, people are finally realizing the many benefits of online gambling, and the introduction of bitcoin into the system means that more young people than ever are getting involved.
Because of this, people are going to need to learn how to read gambling odds. This article will teach you how to gamble on sports and how to gamble online, so you can win big in this brave new world of digital casinos.
Understanding Odds
Odds represent the likelihood of an outcome. They’re similar to statistics. In a sportsbook, every team is assigned odds, which will affect people betting on them.
The team more likely to win is considered the favorite, and the team considered unlikely to win is the underdog. If the favorite is considered twice as likely to win as the underdog, the odds are two to one. An even match is one to one.
American Odds
In American odds, you’ll see numbers attributed to each team, with plus and minus signs near them. A plus means said team is the underdog, and a minus means said team is the favorite.
American odds are based on the number 100. If you bet on a team with -125 odds, you have to bet 125 dollars to win back 100 dollars. The reverse is true for the underdog.
You can extrapolate this to see how much you could win if you’re betting more or less than 100 dollars.
Over/Under
Anyone joining the world of gambling would be remiss not to learn about over/under. In over/under betting, you’re not betting on which team is going to win, but how many points are going to be scored. It’s betting that’s less focused on passion and favoritism and more on statistics; if you’re more analytical, this could be right for you.
In over/under betting, you can bet on whether or not the score between both teams will be over or under the projected total.
Coming Equipped
If you want to bet online, you’re going to need to make sure you stick to reliable sources. Take a look at some of the most reliable casinos online to make sure you’re not getting ripped off of any money.
Betting — especially in the case of large bets — has a lot to do with math. When you go down the rabbit hole of statistics, you really start seeing how complex it gets. Thankfully, we found this great profit accumulator, so you can figure it all out much easier.
Learn How to Read Gambling Odds
If you want to take advantage of the online gambling boom, you’re going to have to learn how to read gambling odds. Thankfully, there are many resources online, which will show you how to go from beginner to expert in the world of betting.
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