Consider this your tutorial guide to betting. At first glance, the information may seem confusing, but we’ll explain it to you in a simplified manner.
So get to work! Start with our Beginner’s Guide to Betting and when you feel more confident, the articles below will guide you through intermediate and advanced betting theories.
Which is the better option, betting on favourites or underdogs? That will depend on your betting strategy. The important thing is to make the decision based on logical reasoning, having in mind who you really believe will win the match, or on how much it is worth the risk of betting on an underdog.
Some sports have more than two outcome options. In football for example, there are three possibilities: home win, away win, draw. Therefore, the value of the odds is usually higher. There are also other betting options: number of rounds in the UFC, goal scorer in football, shorter touchdown in the NFL, etc. Each modality offers options with varying odds. It is up to you to decide where it is worth investing, and you can use the tips here at as a guide.
Variation in odds
The odds for the same event can also change from one day to another. If a lot of people are investing on the same result, the bookmaker understands that they made some inaccuracy when calculating the odds. It corrects this problem by adjusting the values according to the interest of the bettors. In other words, it lowers the odds on one side of the bet and increases them on the other. The aim of this adjustment is to keep both sides equally attractive to punters.
There can also be disparities in the value offered between two different bookmakers. It is therefore important to always keep an eye on the odds and check different websites to find the best odds.
Other odds formats
If the bookmaker is showing fractional odds (e.g. 13/5) or American odds (e.g. +260), we recommend that you adjust the settings to display decimal odds as in the example above. Decimal odds are more practical for the public. To find out how much you will receive, just multiply the amount bet by the number of odds.
If even knowing this you still want to know more about the other formats, we have prepared a guide to understand the various odds formats.
How does the bookmaker make money?
When you enter a betting site and click on your favourite sport, you will not find odds of 2 against 2, as in the example of the coin. The sites always drop a few cents from each option. In a well-balanced UFC fight, you can find odds of approximately 1.90 for each side. In practice, the bookmaker keeps 5% to 10% of all the money that comes in, in order to keep the site online. This commission is called margin or juice. A very low commission, especially if we compare it to the 54.7% charged when you place a bet in the Lottery.