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Tackling Gambling Math With NFL Betting Odds
by Dave Doggett Business Development ManagerOnline sports betting is the most popular form of gambling today. With the convenience of betting at the comfort of your own home and cryptocurrency betting, you can now predict NFL odds, increase your NFL betting odds, and win Bitcoins without breaking a sweat. However, you still need to understand how betting odds work and their importance to your overall betting experience.
What Are Betting Odds?
Betting odds are the numbers dedicated for each team in every match. They determine the chances or probability of the teams winning the game and the possible payout you can get if you win the game. Betting odds are used to calculate the probability to win an event and your winnings.
What is Betting Probability?
Probability is a basic betting element that provides you the ability to predict the outcome of a certain event. In general, probability is the number of ways an event may happen over the total number of possible outcomes. If your prediction is correct and you picked the right outcome, then you win the money. NFL betting probability and odds work together to determine the possible outcomes of every match.
What Are The Types of Betting Odds?
Decimal odds - these type of odds are the most popular NFL betting odds format used by bookmakers. All leading betting sites and betting exchange sites give you the option to view betting odds in this format and some event give it as a default. It’s easier to work out and calculate. Decimal odds, basically, shows you the winnings and your stake by just multiplying the given odds to your preferred stake.
Fractional Odds - also known as UK odds. It is most often used in Ireland and the United Kingdom and was originally used in horse racing. Fractional odds are one of the oldest types of odds and they are easy to calculate. In here, the odds are, of course, given in fraction form. The numerator or the first number is the amount that your wager will yield, while the denominator or the second number is the amount of money you need to stake.
American Odds - these are primarily used for NFL betting probability and odds computation in the United States, and is mostly used for moneyline betting. American odds have different odds for the underdog and the favored team. It represents how much a bettor will have to wager to win $100 (or the currency’s equivalent to Bitcoin). The favored team comes with a negative odds, while the underdog gets the positive odds.
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About Dave Doggett 
Business Development Manager
6 connections, 0 recommendations, 21 honor points.Joined APSense since, September 25th, 2017, From Cleveland, United States.
Created on Dec 9th 2018 21:21. Viewed 327 times.
