moneyline odds

How do Moneyline Odds work?

We have already explained how to understand the Fractional Odds system used by UK bookmakers, as well as the popular Decimal Odds system. For completeness, we thought we would also explain the ins and outs of Moneyline Odds. This system is popular in the USA, and as such we will use dollars in the examples below (but of course the same principles apply whatever the currency). To understand Moneyline Odds, first look at if the odds are positive or negative. Then, look at the odds. Moneyline Odds are expressed per $100 staked (although of course, you should be able to bet any amount, subject to minimums or maximums).

  • POSITIVE Moneyline Odds show how much profit you will get if your bet wins, for every $100 staked (if you win you will get back your original stake too).
  • NEGATIVE Moneyline Odds show how much you will have to stake, to get $100 profit if your bet wins (if you win you will get back your original stake too).

Let’s look at two actual examples:

  • +500: this means for every $100 bet, $500 profit will be paid if your bet wins (i.e. if your bet wins they will return you original stake of $100, and pay you another $500).
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What are Decimal Odds?

What are Decimal Odds?

Having understood the ins and outs of Fractional Odds (traditionally used by UK bookmakers), we think it will be a useful exercise for you to understand the Decimal Odds system as well. Decimal Odds show how many times your original stake (INCLUDING your original stake) you will get back if your bet wins. Obviously, this number should always be more than 1.0 as you should always get back your original stake if you win, plus some profit. Compare that to Fractional Odds which only show the potential profit you will get back if you win (of course regardless of the odds system, you will always get your original stake back if you win).

Let’s look at some Decimal Odds examples:
6.0 – for every £1 bet you will get £6 back, if your bet wins (i.e. you make £5 profit, per £1 staked). 5/1 (Fractional Odds), and 6.0 (Decimal Odds) are equivalent.
1.2 – for every £1 bet you will get £1.20 back, if your bet wins (i.e. you make £0.20 profit, per £1 staked). 1/5 (Fractional Odds), and 1.2 (Decimal Odds) are equivalent.

Fractional Odds are popular in the UK & Ireland. Decimal Odds are popular in Continental Europe, Australia, New Zealand, and Canada.… Read the rest

fractional odds explained

Fractional Odds explained in detail

Bookmakers in the United Kingdom (and Ireland) usually quote prices using fractional odds (i.e. 5/1, 1/2, etc). How much do you really know about Fractional odds? Fractional odds show how much the bettor can profit, relative to their stake, IF their bet wins. In this article ‘Fractional Odds explained in detail’ we explain everything you will need to know about fractional odds.

  • Fractional odds show the payoff:stake ratio. The left hand number of the fractional odds is the amount of profit you will make IF your bet wins (PAYOFF), and the right hand number is the amount you will have to gamble (STAKE). IF your bet loses, you forfeit the stake. If your bet wins, you get your stake back AND the payoff.
  • 5/1 odds mean that if you bet £1, you will make £5 profit if your bet wins (i.e. if your bet wins the bookmaker will return you original stake of £1 AND pay you £5 profit). Remember, the odds just show a ratio – you don’t have to bet exactly £1. If you bet £2, you make £10 profit if your bet wins. If you bet £60, you make £300 profit if your bet wins.
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starting price

Is it preferable to take the Starting Price?

When you place a bet on a horse race, instead of taking the fixed odds price on offer you might be able to place a bet at an unspecified Starting Price. Sometimes for future races, which haven’t been priced up by your selected bookmaker, you can only place a bet at the Starting Price (SP).

When you place a bet at the SP, you do not know in advance what odds you are getting! So, why on earth would you want to take this option? Odds on horses can fluctuate, in the build up to the race. When the race start time comes closer, it is clearer what the conditions will be like (e.g. is the ground heavy or soft, will it be raining or really hot at the time of the race), if any other horses have withdrawn, and if the horse has any issues etc. Odds can thus fluctuate for many reasons, including the amount being bet on a horse. So, with lots of money coming in, the price is likely to go down and vice-versa. In the UK, a panel decides the starting price (it should be the same regardless of which bookmaker you use), based on how they view the fluctuations of prices.… Read the rest

sports betting bankroll management

Why is Sports Betting Bankroll Management essential?

Diligent sports betting bankroll management can be the difference between winning sports bettors, and those who are destined to lose all their money.

Here’s an example:

  • Let’s say that you have £1,000 to gamble with in total in your sports betting account with a bookmaker, but cannot replenish this money if you lose.
  • Let’s say you were betting on an event with only two possible outcomes, and the bookmaker was offering 6/5 on outcome 1, and 1/2 on outcome 2 (this is a made up example).
  • Let’s say according to your value bet calculations, you thought the true odds of each outcome was 1/1 – i.e. there is a 50% chance of outcome 1, and a 50% chance of outcome 2.
  • Of course you would want to bet on outcome 1, as you are getting better odds than required. You would never bet on outcome 2, as you are getting worse odds than required.
  • If you bet £1,000 on outcome 1, there’s nothing intrinsically wrong with the bet in terms of value. After all, you will be making £1,200 profit if outcome 1 happens!
  • However, what if outcome 2 happens? 50% of the time it will, and you will lose your stake of £1,000.
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forecasts tricasts reverse forecasts reverse tricasts

What are Forecasts, Tricasts, Reverse Forecasts, and Reverse Tricasts?

Forecasts, Tricasts, Reverse Forecasts, Reverse Tricasts – these bets involve picking horses that will finish in the top two or three positions, in a single horse race. These bets can be useful if the favourite (the horse usually most likely to finish 1st) has a low price. The winnings are usually worked out using the starting prices of the horses, using computer software.

  • Forecasts (Straight)
    • In horse racing betting, if you would like to predict which horse will win, and which will will be the runner-up (i.e. finish second), you can place a Forecast (known as Exacta or Perfecta in the USA).
    • If you place a Forecast, if you get the winner right your profit AND original stake is used as the new stake for the runner-up. If you get the runner-up right as well, you will get a return.
  • Tricasts (Straight)
    • If you would like to predict which horses will finish 1st, 2nd, and 3rd (naming the horses that will finish in each position), you can place a Tricast ((known as Trifecta in the USA).
    • Again, the winnings on the 1st horse (including stake), is used as the new stake on the 2nd horse, and the winnings on the 2nd horse (including stake) is used as the new stake on the 3rd horse.
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full cover bets

What are Full Cover Bets? Learn how to cover multiple permutations!

Full Cover Bets in horse racing betting, are bets consisting of all possible doubles, trebles, and fourfold and above accumulators (if appropriate) across a given number of selections. As long as at least two of your horses win, you will get something back (although this does not necessarily mean you will profit overall).

  • Trixie – Choose three horses you think will win (from three different horse races). Your bet consists of four separate bets (three doubles, and one treble). If you wish to include the 3 singles too (Trixie, plus 3 singles), the bet is called a Patent.
  • Yankee – This time you pick four horses to win, from four different races. Your bet consists of six doubles, four trebles, and one fourfold accumulator. That’s 11 separate bets. If you wish to include the 4 singles too (Yankee, plus 4 singles), the bet is called a Lucky 15 (as 15 separate bets are placed).
  • Canadian – Make five selections from five different races to win. 26 separate bets are placed (10 doubles, 10 trebles, 5 fourfold accumulators, and one fivefold accumulator). If you wish to include the 5 singles too (Canadian, plus 5 singles), the bet is called a Lucky 31.
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mitigating accumulator overround disaster

Mitigating accumulator overround disaster

Accumulators allow you to combine multiple bets, and potentially win big when all your selections win. Accumulators may seem great news to casual gut instinct bettors. After all, they offer the chance to win a lot of money for a small amount gambled. However, for the value bettor who is looking to potentially make a long term profit from betting, accumulators pose a great problem! We have already discussed the notion of overround – bookmakers will want to build in a profit margin on the markets they offer. However, when overrounds are multiplied it can be a big problem for the bettor! Hence, we are posting this Mitigating accumulator overround disaster article.

Let’s say you place a double (2 selection accumulator), with both bets having an overround of 12%. To calculate the combined overround:

[(1.12 x 1.12) multiplied by 100] minus 100 = 25.44% overround

Bookmakers would love you to place this accumulator, rather than 2 single bets. As an accumulator the total overround is more than double the individual overrounds.

Let’s say you place a 4 selection accumulator, and all four bets have a 12% overround. To calculate the combined overround:

[(1.12 x 1.12 x 1.12 x 1.12) multiplied by 100] minus 100 = 57.35% overround

As an accumulator the total overround is a lot more than quadruple the individual overrounds.… Read the rest