The difference between a novice bettor and a professional bettor is the knowledge of odds. If you don’t know how to read racing odds, you can say goodbye to making a profit from horse race betting.
The first thing you need to lean in betting is reading odds. It might look pretty difficult, but it is very easy. You can easily bet like a pro if you learn how to read odds.
In order to read odds, you need to know about the types of odds. Although people mostly use fractional odds, you need to know how to learn both types of odd.
The racing odds differ on the basis of regions and countries as well. In the UK, there are different types of odds. In the US, the type of odds differs. However, the purpose is the same, the form and type change.
The odds are displayed in different forms. The most common form is two numbers and a minus sign in between. It is the standard form of displaying odds.
There are decimal odds as well as fractional odds. We will show you how to read odds in different forms.
How to Read Odds?
Here are some of the examples of odds and how to read them.
This is the standard form of racing odds. All the odds are mostly displayed in this form. You have to say it like “six to three odds”. In simple words it means, when you wager $3 in a bet, you will get $6 in return if you win the bet. Here $6 is only the profit. Apart from that, you will get your stake of $3 back. Your actual payout will be more depending on your stake. For example, if you put $6 in stake, you will make a profit of $12 and get $6 stake back. So your total payout will be $18.
- 10 Odds:
This is another format of displaying odds. It is different from the standard form. You have to say it like “ten to one odds”. It means if you wager $1 in stake in a bet, you will make a profit of $10 if you win the bet. Apart from the profit, you will get the stake back as well. To calculate the payout let’s assume that you put $2 on stake, so now you will get $20 in profit and $2 back. Your total payout will be $22.
Important Terms in Reading Odds:
Here are the important terms which help you to read racing odds.
- The Morning Line: These are the initial odds which are put on the site before the betting starts. It keeps on changing as the event nears.
- Favourites: It is the favourite horse which has more chances of winning the race.
- Changing Odds: These odds change with time as more and more people place bets.
- Probability: Fractional odds are divided to get the probability of winning. Example, 3/2 will give you a probability of 40%.
This is how you can read racing odds and use it for placing your bets and deciding your stake amount.