If you want to try betting, whether professionally or just for fun, there is one important aspect that you should know by heart and that is the betting odds. The numbers that you see beside the name of the football teams are actually odds. In order to be successful at sports betting, you need to be able to understand football betting odds and know how to use them to your best advantage. If you fail to understand odds then you are literally just throwing away your money. You may win a few bets here and there but you are bound to lose a lot of your bets if you do not understand odds.
To have a better understanding of odds, you need to know its various types. There are three types of football odds and the first one is the fractional odds. Football odds in fractional format are the ones used by bookmakers in the UK. Fractional odds are based on 1 unit of stake. When you are making your bet and look at the fractional type of football odds then you will be able to determine the amount of profit that you will earn by making 1 unit of stake. The fractional format does not state the total winnings for each unit of stake but just the profit from the bet.
The second type of odds is the decimal odds. Decimal format odds are widely used by bookmakers all over the world. This type of football betting odds is simple and easy to understand. By reading decimal football odds, you will be able to determine the total amount of money that you will gain from making a 1 unit bet. The unit of stake may differ and can signify either, ten or one hundred. To be sure about the unit of stake, it is best to ask the bookmaker first before making your bet. Commonly, decimal football odds are adjusted to two decimal places to make it more accurate.
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