For one to have a clear understanding of sports betting, they need to understand how sports betting systems operate to come up with sports betting odds. Normally, the betting system uses previous data from a previous sport/game to come up with odds which are used to determine whether or not it’s worth it placing a certain sports bet.

The possibility of a win and the amount of payout on the bet is determined by the odd. The systems put into consideration the different factors that affect the outcome. These factors could include psychological, statistical, situational or motivational angles. Any of the above factors can be used to show why one outcome has a better winning selection over another.

Different Types of Odds

Odds play two major roles: First, they are used to reflect the possibility of a particular outcome and second, they are used to calculate how much you’ll win. The higher the bet, the higher the amount to be won and also, the higher the bet, the less likelihood of the outcome happening.

Odds can be expressed in different formats. Let us have a look at the different ways in which odds can be expressed:

Moneyline Odds

These are also referred to as American odds and are the most commonly used format especially in the US. Moneyline odds can either be displayed as a positive or as a negative number. A +ve odd represents how much the right bet of $100 would win while a ve odd represents the amount that one would have to stake in order for them to win $100.

For example, if the odds are +150, it means that placing a bet of $100 could win you $150 in addition to the $100. If the odds are 150, it means that one would have to stake $150 in order for the winnings to get back the $100 plus the initial $150.

Decimal Odds

These types of odds are common in Europe, Canada, and Australia. The odds are expressed as a single number, to two decimal places.

They have been standardized to be the most largely used on most of the online betting websites. The rise in their popularity can be attributed to their straightforward ease of use. For example, if the odd is 1.5, this means that the total return would be $1.50 for every $1.

Fractional Odds

### These types of odds are common in the UK. The challenge experienced with these odds is that calculating the total payout can be a bit tricky. For example, a 3/1 (three to one) odd means that you can win three units for every unit staked; however, the math involved is not always that simple.

### With these odds, you have to add your original stake in order to get the total potential payout.

# Different Types of Bets

If you’re new to the world of sports betting, you need to familiarize yourself with the different types of bets. In the beginning, you should stick to the simple bets and later on you can move on to the more complicated bets.

Lets us look at the different types of bets:

Win Bets and Moneyline Bets

These two terms can be used interchangeably because they literally mean the same thing. These bets are the most straightforward among other bets and are used in almost all forms of sports betting.

Here’s how it works; you place your bet on the team that you think is going to win. It’s that simple!

Total Bets and Over/Under Bets

These terms also mean the same thing. The idea here is to predict whether or not a specified total will be higher or lower than the set number. For example, if the set points are 43, you're expected to bet on whether the specified total will be higher or lower than 43.

Point Spread and Handicap Bets

These types of bets are popularly used for football matched but they may also be used for several other sports too. Here, theoretical adjustments are made in the number of points or goals scored, purely for the purposes of a bet.

Outright Bets

These bets are also referred to as futures. These are the types of bets placed on the ultimate winner of a league, tournament, or any other kind of competition such as the super bowl.

Preposition Bets and specials

These bets refer to bets on a much wide range of outcomes related to the sporting game. Basically, these bets do not have a specific winner and one can win these specials without picking a definite winner.

An example of such a bet is which player will score first or when the first goal will be scored.

## Comments