Home I All Guides I Sports Betting Guides I Strategy I Betting Odds, Margins, and Spreads
Odds are used in sports betting to express the likelihood of an event taking place. Due to the large amount of bookmakers, sportsbooks, and betting exchanges, there are plenty of different odds.
As a serious sports bettor you need to know with which odds you should bet and when to pass.
We will explain the basics of bookmakers odds and margins in this guide.
If you haven’t heard of the different odds types yet, please check the previous part of our beginners betting guide.
Bookmakers provide you with a huge range of betting odds to bet on. There are several different ways of expressing odds including European, UK, and US odds. However, despite being written in a different way, they all mean the same thing.
The number next to a certain event indicates the probability of it happening. If you have two possible events for a match, there should be a 100% combined probability. However, that is not exactly the case.
As you may expect, bookmakers also have to make some money in order to provide their services. They generate money by claiming a small part of all accepted bets. That’s why most bookmaker odds won’t add up to 100%, but a little bit less than that. Usually, bookmakers charge somewhat around 5% commission on your bets or winnings. That share allows the bookies to create new odds, run their site, set up promotions, and so on.
You can find out more about the commission each individual bookmaker is charging in our detailed sportsbook reviews. As you may expect, some bookies charge you less than others, so it’s definitely worth comparing the statistics.
Due to the fact that there are countless betting odds, you need to make sure that you are selecting the best ones. Therefore you will need to compare them.
We as your sportsbook affiliate are interested in providing you with the best options only. There are several bookies that have better odds than the others for different types of sports. Pinnacle, for example, is one of the best bookmakers if you want to bet on football. However, if you want to bet on basketball, you should check out the Betfair odds.
In order to compare betting odds more easily we have created our own odds comparison page. You can use it any time you want to compare odds. We provide an overview of all major and minor upcoming events there. Currently, there are odds for football, basketball, tennis, eSports, American football, volleyball, baseball, rugby, ice hockey, golf, horse racing, motor racing, greyhounds, boxing, UFC, and cricket.
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