When it comes to Motor Sports betting, knowing how to read odds is essential.
Bookmakers are the middle men that present you with their opinion on the most probable outcome of an occurring result. With this data you are able to make a calculated decision on how much money you will win if you place a bet on a certain sports event.
Odds may seem difficult to understand. They are arguably one of the most difficult parts of betting to understand – they come in many different forms and have a myriad of different values. This is where bookmakers come in. They do all the calculating for you, making it all so much easier to understand.
Some of the best motorsport bookmakers rocking the global gambling industry include:
- 888 Holdings: Since they launched in 2008, they have successfully made a name for themselves in the virtual sports betting world.
- GVC: They are one of the largest contenders when it comes to gaming groups and sports betting companies.
- Kindred Group: Kindred broke financial records thanks to the rapid growth of their active-customer base and the 2018 Fifa World Cup, which led to higher active user ratings.
- William Hill: A bookmaker, William Hill, merged 3 businesses together and started William Hill US. Thanks to the business’ consistent growth on the market, they’ve achieved a market share of 30%.
- Bet365: Their wide range off betting options have resulted in them being known amongst some of the largest sport’s betting firms in the field today.
- Draft Kings: Draft Kings allows users to bet on fantasy contests that are sports related, which is why they are so popular. The bets are based on individual player, as well as team performance. This includes all five American Sports (NBA, PGA, NFL, NHL AND MLB)
How to read Motor Sports betting odds:
The values can be expressed in 2 different ways, decimal and fractional odds. These odds have no monetary difference – they simply express the values differently.
A simple example of fractional odds is 15/1 and 3/7. The most simple method of calculating how much you stand to win, is the ow much you win vs how much you stake’ method.
Basically if you have the odds of 15/1, you stand the chance to win $15 for every $1 you bet. When you bet 3/7, you receive $7 winnings and the $3 you risk.
They can also appear as 4/10, this is called dds-on selection’. What this means is that you will have to risk $10 for $4.
Many agree that decimal odds are much simpler to grasp than fractional odds.
It’s easier to see the difference between 3.20 and 3.25. You multiply your bet by the odds.Say you risk $10 at the odds of 5, you stand to win $50.
When it comes to decimal odds, your stake is added automatically to your winnings.
Being able to understand the mechanics of odds, is a great asset when you want to pick a team and calculate how much you will bet. Once you have it under control, betting will be a piece of cake.