Sports betting has become one of the most popular hobbies. With a struggling economy, more people are staying home and watching sports on television than ever before. This has led many into thinking they can make a few extra bucks betting on the games.
Betting can be a great hobby. แทงอีสปอร์ต Many people have become so good at it they do it weekly to supplement their income or completely replace their job. However, many people have lost hundreds of dollars, if not thousands, betting on games. Each person’s story is different but a majority of people are losing bets for the same reasons.
The most common reason is they lack patience. They want to make money quickly and therefore, they bet on too many games. Successful bettors will tell you never to bet on more than 20% of the games during a particular season. This 20% is actually a little high, but if you are betting on more than 20%, you will surely lose in the long run.
Another common mistake is people bet with their heart instead of their brain. It doesn’t matter how much research you do if you are going to bet with bias and subjectivity. That is why people lose so much money betting on their favorite team. They can’t bet against their team, even if they think they are going to lose. They even bet for their team to win in games they think their team will probably lose. You might win a bet here and there with this betting style but you will never be a winner in the long run betting this haphazardly.
Bookmakers usually use any of the 3 major odds formats for the purpose of betting. These 3 forms are fractional, decimal and money line odd systems. The preference of using a particular odds system is based on the country of operation and the bookmaker’s personal choice. The reason is not variation in profits but ease in calculation for the bookmaker.
The fractional odds system – This system expresses odds in the form of fractions like 1/4, 1/10 and so on. They show the payment you will earn which is relative to the amount you have wagered. For example, of you bet $20 on Team A winning a game at an odds of 1/4, it means you will get 1/4×20= 5. Your earnings from this will amount to$ 25. You earn the amount wagered and the payout.
The decimal odds system – The odds are reflected in the decimal format in this system. The decimal odds of an event happening is the decimal value of the fraction odd with one added to it. Therefore the fractional value of 5/1 is 6 and that of 1/5 is 1. 20. As the decimal odds system is very easy to understand and work with it is also preferred by many betting exchanges for conducting their betting activities. An example of this odds system is Team B winning at odds of 2 on a $10 bet. The payout here will be 2×10 = $20. This system has the payout factored into the decimals.
The money line odds system – Also known as American odds these have their figure quotes as either positive or negative without any point spread consideration. For example a fractional odd of 5/1 is quoted as +500 and that of 1/5 as – 500. Even odds are quoted as 100 with the “- “sign not being displayed at times. The positive figure states the profit you will make and the negative the amount you will have to wager to make an amount on the bet.
It is important for you to be well versed in all the betting systems as different bookmakers may use any of these systems. Knowing how to calculate using all the systems will not only increase your betting opportunities but also the chances of making profits.
Odds are constantly changed by bookmakers depending on the progress of the event or at times to tip things in the favor of another team. Odds against implies getting more than twice the amount bet. Evens are winning an amount equal to your bet. Example is taking home $2 if you bet $1 and win $1. Odds on is when you win less than double the amount you have bet. Short odds are chances of a high event occurrence and long odds are the chances that an event will occur are low.
An odds intervention method in live markets is a unique offering of some advanced betting exchanges and they give the bettor the opportunity to take better decisions while placing bets and a higher chance to win bets. For example if the odds and stakes grow to a certain percentage the betting exchange will intervene and fix them to an acceptable level. This information will be displayed on the exchanges homepage for everyone to see.