When entering the betting field, one of the things you need to learn first is the odds and relevant information such as the role, how to read the odds at VN88, and how to distinguish it. This is extremely important as it allows you to understand how the match or event you are watching could happen or what your odds of winning are. The following article of BET88 will give you the most basic concepts, definitions, and information about odds in the easiest way to understand.
Let's Get It Started!
What are the odds?
In the most basic sense, betting is the act of making a prediction about the outcome of an event and if your prediction is correct, you win the bet and receive money. With any given event, there will be a number of possible outcomes. The role of odds here is to show how the odds at VN88 of such an event may occur.
Odds of fractions, how to calculate:
Whenever you see two numbers separated by slashes like 10/1, this is called the fractional ratio. From there, you can calculate how certain events might happen with just one calculation. For ease of understanding, we will try to replace numbers with letters. For example, 4/1 would be A / B. So the probability formula (%) = B / (A + B)
9/1 can be calculated as 1 / (9 + 1) = 0.10 - There is a 10% chance that an event will happen.
4/1 can be calculated as 1 / (4 + 1) = 0.20 - There is a 20% chance of an event happening.
1/1 can be calculated as 1 / (1 + 1) = 0.50 - There is a 50% chance that the event will happen.
1/4 can be calculated as 4 / (4 + 1) = 0.80 - There is an 80% chance that an event will happen.
Do you find it simple and easy to understand? If given a fractional rate, we would be able to determine how likely the outcome we bet would be. In the following, we will try to find out what the winning amount will be using odds.
Use odds to calculate the bonus:
Odds allow you to calculate the amount you will win if you place a bet. Use the same examples as above, replacing numbers with letters, for example, 4/1 becomes A / B. Quite simply, for every B value you bet, you win A.
9/1 for the 100$ you bet, you will win 900$.
4/1 for the 100$ you deposit, you will win 400$.
1/1 of the 100$ you deposit, you will win 100$.
1/4 of the 100$ you deposit, you will win 250$.
2) Method of calculating the odds:
The first step in preparing odds and handicaps in sports betting prior to the market announcement is based on qualitative and quantitative information. The estimated odds are initially given based on quantitative information, then adjusted to the qualitative information obtained before the house is included in the margins and released to the market. When the bet is open (the odds are declared), the calculation of the bet will be based on the house amount of the house devoted to the match as well as on the odds of the bookmaker VN88 rated by BET88.
3) Types of Odds in today's football:
Currently, on the market we have many different types of soccer Odds that make players confused and difficult to choose, specifically, there are 5 types of Odds:
• Decimal Odds
• Odds Hong Kong (HK Odds)
• Malay Odds (MY Odds)
• Indo Odds (Indo Odds)
• US Odds
The odds represent the probability that an event can happen and thereby tell you how much money you can make if you win. Hopefully, this article has helped you to know more about odds to find yourself good bets, big wins. Looking forward to good news from you.