The digital world has created a plethora of opportunities for people to bet on their favourite sports games and events at the touch of a button. Luckily for us, long gone are the days where you needed to queue up at a local betting shop to place your bets at the counter as today you can access scores and odds online and place bets easily at quality sports betting sites.
However, if you’re new to the world of sports betting, understanding sports scores and odds can seem daunting at first. But, hear us out as once you have a basic understanding of how they work, it becomes much easier to make informed decisions when placing bets.
In this beginner’s guide, we’ll break down the basics of sports scores and odds so you can start betting with confidence.
Understanding sports scores
First of all, it’s important to understand what sports scores are and how they work. A sports score is a numerical representation of the outcome of a game or match. Simple, right? For example, in a basketball game, the final score might be 105-100, with the first number representing the score of one team and the second number representing the score of the other team.
So, what are they for exactly? Sports scores are used to determine the winner of a game or match. They are also used to calculate various statistics and outcomes. For example, in a football game, the final score can determine whether a bet on the underdog or favourite wins. It can also be used to figure out whether a bet on the total points scored in a game goes over or under a certain number.
Understanding sports scores really is important when it comes to betting as it is the basis on which bets are settled. By keeping track of scores and understanding their significance, you’ll be able to make more informed decisions when placing bets and increase your chances of winning.
Understanding betting odds
In addition to sports scores, sports betting odds are another crucial aspect of sports betting that is important to understand as it can help you determine the likelihood of an outcome.
As a definition, sports odds are numerical representations of the likelihood of a particular outcome of a game or match. This means that if a team is favoured to win a basketball game, they might have odds of -150. In this case, you would need to bet $150 to win $100. However, if a team is set to lose, they could have odds of +200, which means you would win $200 if you bet $100.
Sports odds can be written in different formats, including decimal and fractional. This sounds scary but we promise that once you understand the basics of sports odds, reading them will begin to come naturally to you with some practice.
Once you begin to understand these sports odds, you will feel confident making smarter betting decisions as you will have a deeper understanding of how odds work and what the likelihood of a particular outcome is. It’s all like rolling a dice in a game and predicting what the likelihood is of going up the ladder or down the snake, to put it in simple terms. Master this and your bets will start making you money.
How to calculate payouts
Now for the exciting but slightly math heavy part. Once you understand sports scores and odds, it’s important to know how to calculate payouts. The payout of a bet is determined by multiplying the amount wagered by the odds. As an example, if you bet $50 on a team with odds of +200, your potential payout would be $50 x 2 = $100. Similarly, if you bet $100 on a team with odds of -150, your potential payout would be $100 / 1.50 = $66.67.
Once you learn how to calculate payouts, you’ll be better able to make informed betting decisions that will directly affect your bank roll. By knowing how odds work and how to calculate payouts, you can make more strategic bets and maximise your chances of winning.
Overall, understanding sports scores and odds can seem daunting, especially when there are a lot of numbers involved. However, it is essential for beginners who are new to sports betting to learn the basics of scores and odds inside out before betting any large amounts of money or taking higher risks. The good news is that while you may need to put in the graft to begin with, once you understand how the system works, the rewards can be big.