But if you want to save time and make the same amount of money minus the hassle of finding offers, matched betting websites can do all of this for you using more advanced techniques. Just leave it at that and move on with your life. So, what are you waiting for? But, this would be an excellent opportunity to practice to learn the nuances first. Take a look at Bet for example.

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Simply multiply the amount you wish to bet by the decimal odds offered. The positive number shows the underdog and the negative shows the favourite. To gain a thorough understanding of how betting odds, it is important to consider probability. Betting odds are designed to show the probability of a certain event happening in sports.

The higher the betting odds, the less likely an event is deemed to happen. If the odds are low — which is sometimes also referred to as a short price — then the event is more likely to happen. According to the bookmakers, Spurs are the outsiders for the match, which is at Old Trafford.

There is more to it than that, of course, as betting sites also factor in what is called a betting margin. Usually, between three and seven per cent, a betting margin is how betting sites ensure they can turn a profit. This is why even when there are only two potential outcomes in any one particular betting market, the odds will not add up to a total probability of exactly per cent. Using Betting Odds To Calculate Probability Now we understand how probability works, we can use betting odds to work out the probability.

The key thing to remember here is that betting odds will only ever show implied probability. This is due to various factors, including the betting margin we mentioned earlier in this guide. Betting odds are also fluid and can be changed by betting sites if one option is proving popular. So is in fact 1. We can do the same with which is divided by 30 which is 3. When it is the other way around, it is Called "odds on" The Decimal Odds Betting System You may have gone onto a betting site and seen odds of 3.

Many people think this or they become confused by this betting terminology. In , more and more online betting sites are switching to decimal odds. In many ways, they are a much simpler way of seeing the odds. No more do you need to divide one figure by the other like with some of the more complex fractional odds.

Decimal odds will be shown like 3. There is only one thing to remember with decimal odds and it is this. The figure shown is the sum total of what you will return. This is different to what the actual odds are, let us explain. All winning bets return stake and it is the same with decimal odds.

So if you see odds of say 3. So now we can see that odds of in fractional odds and 3. Putting it all to Work Here are a few examples to highlight what we have been talking about. Decimal odds show what you win but in both cases, you still return your stake. What Type of Bets Can you Make? There are numerous different bet types in horse racing. For example, there is no rule that says that you can't bet on more than one horse. In fact, if you wanted to then you could back every single horse in the race although why would you want to?

In short, then there are three main bets that you can place in horse racing although the variables within these three types are wide. A win bet is simply as the name implies, this is a bet on a horse to win. Professionals tend to only make win bets and place bets. If you back a horse to win and it comes second by a nose then unlucky, you lose!

If you think that your horse may get into contention but that there are other good horses in the race then you can make an each way bet. This is where you place two bets. One bet is for your horse to win and the second bet is for your horse to come second or third.

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