People have been playing games over money and wares for a long time. The Romans and the Greeks did it. It is a feature of the human mind to find patterns and try to predict things.The idea of organized betting was born in 1858. Two people in the US placed a bet, 100 dollars each, on whether a player in the National Football League (NFL) would make a home run or not. From here, the phenomenon spread to Europe and other continents like a wildfire. Today, organized betting on sports are a common feature online, engaging millions of people in the world, and growing.
The Internet revolution the last 20 years have changed the face of how we bet; earlier almost all organized betting was on sports odds and match results, now there are a bunch of alternatives ways to bet; first goal scorer in a game, winner of a league or tournament, number of corners in a football game, politics, entertainment and music competitions and so on. The sky is the limit.
Odds can be a puzzling and frustrating before you learn how they work. Basically, odds tell you how likely a gambling site think it is that an event will happen and how much money you win if you place a bet on that event. Take a minute to learn how odds works by reading the below text.
Odds comes in two kinds: fractions and decimals:
Lets take a look at fractions first:
a) If you place a bet on an event that has the odds 9/1 there is a ten percent chance of it happening (total 9+1 = 10. 1/10 = 0,1 = 10%).
b) If you place a bet on an event that has the odds 4/1 there is a twenty percent chance of it happening (total 4+1 = 5. 1/5 = 0,2 = 20%).
In a) you will get £9 back for every £1 spent. In b) you will get $4 back for every $1 spent. Simple as that.
a) If you place a bet on an event that has the odds of 9,0 you will get £80 winnings from a £10 stake (9 times the money – stake: (10 * 9)-10 )
b) If you place a bet on an event that has the odds of 4,0 you will get $30 winnings on a $10 wager (4 times the money – stake: (10 * 4) – 10 )
Simple as that! When you have familiarized yourself with odds, don’t forget to check out our surebet calculator!