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Betting Odds & why they are so important

Betting odds are the key to success. Only those who recognize good odds can become a good and successful bettor in the end. For this reason, it can be a great advantage to compare betting odds. Search for the best odds at different betting sites and place your bet where you find the best odds. We have compared the best betting sites!

  • Betting odds are the key to success
  • Betting odds vary from one bookie to another
  • Look for the best odds at different betting sites
Betting Billy
Overview
Betting Sites with best odds
96%
Rating
*******
Bonuscode
100% up to
R1,000
23
Sports
Mobile / App
21+ / T&C APPLIES
More Details
94%
Rating
*******
Bonuscode
100% up to
R3,000
21
Sports
Mobile / App
21+ / T&C APPLIES
More Details
90%
Rating
*******
Bonuscode
100% up to
R25
23
Sports
Mobile / App
21+ / T&C APPLIES
More Details
87%
Rating
*******
Bonuscode
R25
Sign Up Bet
21
Sports
Mobile / App
21+ / T&C APPLIES
More Details
82%
Rating
*******
Bonuscode
100% up to
R10,000
21
Sports
Mobile / App
21+ / T&C APPLIES
More Details
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Matthew Jones
Author:
Matthew Jones
Last Updated:
Apr 22, 2021
Approved
Author
This author was thoroughly tested and approved by the experts at BettingBilly.com before joining the editorial board to ensure a high content quality.
Author Bio:
 
Matthew is a former journalist and entrepreneur. Before he turned 18 he'd already started an online-shop, grew it to more than $1m in sales and sold it. Together with Richard he is now in charge of BettigBilly. His specialties are gambling mathematics and creating winning betting strategies.
Matthew is a former journalist and entrepreneur. Before he turned 18 he'd already started an online-shop, grew it to more than $1m in sales and sold it. Together with Richard he is now in charge of BettigBilly. His specialties are gambling mathematics and creating winning betting strategies.

Betting Odds 2021

You are a sports betting fan, but you are not sure how betting odds work? You are overwhelmed by the amount of betting options offered and you are not sure which options offer the best value for your money? If so, keep reading as you are in the right place. Further, we explain all you need to know about betting odds, how betting odds work and more that will help you take advantage of sports betting sites, build your bankroll and have a great time.

How Betting Odds Really Work

When discussing sports betting odds, we have to examine how odds really work, before we get to different odds formats offered and other important information. First of all, here is the simplest betting odds definition. In their essence, betting odds suggest how likely events are to happen. Moreover, odds placed on sports events you can wager on also tell you how much profit you can make.

To get to the point of truly understanding betting odds, sports bettors should do your homework and research, get to know different betting offers available, and examine their value before you invest your money.

There are three major types of betting odds offered by online sports betting sites including decimal or European, fractional of British and American or moneyline odds. These represent the same thing only written differently.

Each of them suggests a percentage probability or a chance of an event happening. In other words, a percentage probability is converted and presented in one of these three types of sports odds. For instance, if you bet on an event with betting odds of 4/1, you win $4 for every $1 you invest. The chance of this happening stands at 20%.

Different Odds Formats Explained

To have betting odds explained the right way, we have to examine those different betting types mentioned in the previous section. If you are a newcomer and you are planning to enjoy online sports betting activities, it is extremely important that you understand those different options available. In fact, it would be absurd to start betting without being familiar with the main types of betting options. Fortunately, further we examine how fractional, decimal and American odds work.

  • Fractional Odds (British Odds) are usually written with a hyphen or a slash, example 6-1 or 6/1
  • Decimal Odds (European Odds) are written with a decimal sign, example 3.00, or 13.00
  • American Odds (Moneyline) are written with a minus or a plus sign, example -790 or +595

Fractional or British odds are used by many of the most renowned online sports betting venues, especially by Irish and British bookies. As mentioned in the previous section, these odds are written with a hyphen (-) or a slash (/) sign. Used by many of the most renowned bookies, fractional odds are preferred around the world.

If you come across a listing of five to one or 5-1, this means that you win $5 against every $1 you bet or any other currency equivalent. Put differently, this fractional listing represents the ratio of the profit you win to your starting bet. In other words, you get your stake of $1 back plus $5 you won in profit which results in $6 you won in total. If you raise your stake to $10 at a fractional listing set at 5-1, you get in total $60, $10 of your money invested and $50 as your profit.

When it comes to decimal or European odds, they are mostly used in Canada, New Zealand, Australia and continental Europe. With these online betting odds, you instantly recognize the underdogs and favorites by examining the numbers which determine the amount you win for every $1 or any other currency equivalent invested. In other words, decimal odds show you the total payout you can expect rather than showing the profit which means the numbers have your stake included.

Lastly, American or moneyline odds are popular in the USA. The favorites odds always have a minus sign while the underdogs odds have a plus sign. The favorites odds indicate the amount you need to wager to get $100 while the underdogs odds indicate the amount you win for every $100 or any other currency equivalent invested. The bottom line, these three types of betting odds are just different ways of representing the same thing used by different bookies.

How to Find the Best Betting Odds

Whether you prefer mobile betting, in-play betting or any other kind, finding the best odds out there makes a difference between winning and losing in the long run. As you know by now, odds offered by your chosen online sports betting site determine the amount your bet will deliver if your chosen selection happens. Naturally, you want to register with a bookie that offers competitive odds.

Odds offered vary from one site to another, so it is extremely important that you know how to recognize the best offers. One of the most important things to keep in mind when looking for the best odds is to be able to read all three major types as listed above. Some sites provide odds in all three formats, while others provide odds in one format. Make sure you know how different formats work to understand their hidden value.

Another tip when looking for the best odds out there is to opt for sports events with greatly matched competitors as in these cases bookies cannot adjust their posted odds in a way to give them an advantage. When looking for the best odds, considering betting on sports events where draw or tie outcomes are possible as these generally have some of the most competitive odds. Check some other valuable tips.

  • Bet on sports that you are familiar with
  • Consider all different factors
  • Stick to your budget
  • Never ignore favorites
  • Check different betting sites
  • Create accurate assessments of probabilities

Boosted Odds and Other Odds Promotions

One of the biggest advantages of joining reputable, renowned and safe online betting sites is being offered great sports betting bonus. The vast majority of such sites offer generous welcome bonuses that are naturally reserved for newcomers. In many cases, these bonuses are match deposit bonuses while some venues also offer lucrative free bets which basically give you the ability to place a wager without investing anything.

Some sites require that you make a deposit to be granted your free bets bonus, while others just require that you register. Besides these offers, match deposit bonuses also deliver great value despite common rollover requirements. In addition to sign-up or welcome bonuses that usually come in the form of match deposit bonuses and free bets, online bookies also offer no deposit bonuses, free play bonuses, reload bonuses, cashback bonuses and special boosted odds offers.

With boosted odds bonuses, you can get greater payouts that in some cases are even ten times higher than the standard odds offered. These offers are usually presented to newcomers that just registered which means they are another mean of attracting new customers besides generous welcome bonuses, free bets and other offers listed above.

Find the Best Betting Odds

Finding the best betting odds offered is doubtlessly the best way to make greater profits from your online sports betting activities. Finding the best betting odds is also the best way to make profits on a regular basis. Since you always want to bet for value, you need to do your homework which includes getting to know different odds formats, and understanding their value. Once here, you have instantly improved your chances of making profits in the long run.

96%
Rating
*******
Bonuscode
100% up to
R1,000
23
Sports
Mobile / App
21+ / T&C APPLIES
94%
Rating
*******
Bonuscode
100% up to
R3,000
21
Sports
Mobile / App
21+ / T&C APPLIES
90%
Rating
*******
Bonuscode
100% up to
R25
23
Sports
Mobile / App
21+ / T&C APPLIES
87%
Rating
*******
Bonuscode
R25
Sign Up Bet
21
Sports
Mobile / App
21+ / T&C APPLIES
82%
Rating
*******
Bonuscode
100% up to
R10,000
21
Sports
Mobile / App
21+ / T&C APPLIES
Show me more Billy!

Betting Odds FAQ

Boost Your Winning Odds
Before you enter the world of online sports betting, it is extremely important that you understand how betting odds work. Moreover, you have to be able to interpret all different types of betting odds the right way so that you can determine which betting odds give the best value. Keep in mind that all betting odds including those three major types represent the same thing, just written differently. Since implied probability is one of the most important aspects of the industry, knowing the odds makes a difference between winning and losing.
Find the best Sportsbook now!