what does 2 1 betting odds mean

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Michigan is now a full-service sports betting state! Michiganders and visitors to the state can place sports bets on their mobile devices, their computers, and several different retail locations around both mdjsjeux bettingadvice. The online launch in January marked the endpoint of a process that began in December Governor Gretchen Whitmer signed into law two bills, S and Hwhich legalized sports betting both online and in casinos. Incidentally, the two bills also legalized internet poker, online casino games and online fantasy sports. In short, Michigan is quite the destination for placing a bet now.

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What does 2 1 betting odds mean

Fractional odds are also known as British odds, UK odds, [10] or, in that country, traditional odds. Odds with a denominator of 1 are often presented in listings as the numerator only. A variation of fractional odds is known as Hong Kong odds. Fractional and Hong Kong odds are actually exchangeable. The only difference is that the UK odds are presented as a fractional notation e.

Both exhibit the net return. The European odds also represent the potential winnings net returns , but in addition they factor in the stake e. Favoured in continental Europe , Australia , New Zealand , Canada , and Singapore , decimal odds quote the ratio of the payout amount, including the original stake, to the stake itself.

Therefore, the decimal odds of an outcome are equivalent to the decimal value of the fractional odds plus one. This is considered to be ideal for parlay betting, because the odds to be paid out are simply the product of the odds for each outcome wagered on. When looking at decimal odds in betting terms, the underdog has the higher of the two decimals, while the favorite has the lower of the two.

Decimal odds are favoured by betting exchanges because they are the easiest to work with for trading, as they reflect the inverse of the probability of an outcome. Decimal odds are also known as European odds , digital odds or continental odds. Moneyline odds are favoured by American bookmakers. The figure quoted is either positive or negative.

Moneyline odds are often referred to as American odds. A "moneyline" wager refers to odds on the straight-up outcome of a game with no consideration to a point spread. In most cases, the favorite will have negative moneyline odds less payoff for a safer bet and the underdog will have positive moneyline odds more payoff for a risky bet. However, if the teams are evenly matched, both teams can have a negative line at the same time e. In gambling, the odds on display do not represent the true chances as imagined by the bookmaker that the event will or will not occur, but are the amount that the bookmaker will pay out on a winning bet, together with the required stake.

In formulating the odds to display the bookmaker will have included a profit margin which effectively means that the payout to a successful bettor is less than that represented by the true chance of the event occurring. This profit is known as the 'over-round' on the 'book' the 'book' refers to the old-fashioned ledger in which wagers were recorded, and is the derivation of the term 'bookmaker' and relates to the sum of the 'odds' in the following way:.

The true odds against winning for each of the three horses are , and respectively. This represents the odds against each, which are , and , in order. This value of 30 represents the amount of profit for the bookmaker if he gets bets in good proportions on each of the horses. And the expected value of his profit is positive even if everybody bets on the same horse. The art of bookmaking is in setting the odds low enough so as to have a positive expected value of profit while keeping the odds high enough to attract customers, and at the same time attracting enough bets for each outcome to reduce his risk exposure.

A study on soccer betting found that the probability for the home team to win was generally about 3. It was about 3. Making a profit in gambling involves predicting the relationship of the true probabilities to the payout odds.

Sports information services are often used by professional and semi-professional sports bettors to help achieve this goal. The odds or amounts the bookmaker will pay are determined by the total amount that has been bet on all of the possible events. They reflect the balance of wagers on either side of the event, and include the deduction of a bookmaker's brokerage fee "vig" or vigorish. From Wikipedia, the free encyclopedia.

This article is about the gambling and statistical term. For the alternative rock band, see Odds band. For playing chess with odds, i. For the documentary film, see The Odds Against. Main article: Moneyline odds.

Main article: Mathematics of bookmaking. Retrieved 18 August Wolfram Research Inc. Retrieved 16 May CRC Press. Multi-State Lottery Association. Archived from the original on 19 October Wolfram Alpha. Retrieved 27 March World Bet Exchange. Archived from the original on 2 May Retrieved 10 December Archived from the original on 2 April Retrieved 26 November Expected Values and variance in bookmaker payouts: A Theoretical Approach towards setting limits on odds.

Journal of Prediction Markets. October Categories : Randomness Statistical ratios Wagering. Hidden categories: All articles with unsourced statements Articles with unsourced statements from May Use dmy dates from September Namespaces Article Talk. Views Read Edit View history. Help Learn to edit Community portal Recent changes Upload file. Now we want to see what those odds mean in terms of probability.

So there are the probability outcomes for the match. Because the bookmakers margins are worked into the percentage so that they can make their money. See below for more details. For this example lets use divided by 2. All sports betting comes down to chance.

There is the dilemma and how much would you be prepared to risk in either scenario? Bookmakers have banks of traders and analysts figuring out the probability of outcomes and then they set the odds from there. Anything on the odds-on side of that and you are increasing probability percentages. Anything longer than Even Money is decreasing the probability percentage of an outcome happening. There is a thing called bookmaker margins.

This is where a bookmaker makes their profit and you can see it in action. In a football match where there are three outcomes, you can add up the odds to just how the bookmaker makes their money. On an event with two outcomes, say a tennis match, one player is trading at 1. So it is


All sports betting comes down to chance. There is the dilemma and how much would you be prepared to risk in either scenario? Bookmakers have banks of traders and analysts figuring out the probability of outcomes and then they set the odds from there. Anything on the odds-on side of that and you are increasing probability percentages.

Anything longer than Even Money is decreasing the probability percentage of an outcome happening. There is a thing called bookmaker margins. This is where a bookmaker makes their profit and you can see it in action. In a football match where there are three outcomes, you can add up the odds to just how the bookmaker makes their money. On an event with two outcomes, say a tennis match, one player is trading at 1.

So it is If the punter won five times out of ten, the bookmaker would be even at the end of the day, with no profit. Now and again you may come across US odds or a Moneyline which may look a bit confusing. Out of interest if you want to convert US odds to decimal odds, when it is a negative figure in this example , divide by the quote and then add one. Sports betting explained. How to choose a bookmaker. Generally, decimal odds are easier to understand. Based on this, there has a movement to attract more people to horse racing by making it more accessible to the average punter.

Ten years ago, if you were going to Cheltenham, all the odds would be displayed as fractional odds. The second difference between the formats is that fractional odds only represent winnings, and do not include the returned stake compared to decimals which do include the stake. The transition from fractional odds to decimals largely kicked off with the growing popularity of the betting exchanges such Betfair. These are hard to compute for the punter and are not a great way of showing betting odds explained.

You may find that your favourite online betting site presents the odds exactly how you likely them to be. But sometimes you might need to convert them to understand. Our odds converter tool will allow you see odds in whatever format you like. Betting odds represent the probability of an event to happen and therefore enable you to work out how much money you will win if your bet wins. Hopefully, that is betting odds explained.

You should now have the knowledge to read betting odds, understand how likely it is to happen, and how much you stand to win. To know more about our writers and our ranking method you can learn more about MyBettingSites. We have a Privacy Policy and Cookie Policy. By continuing to use this site, you are providing consent to it.

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There is nothing in the bible about purgatory. It has been a way for the Catholic church to make money by threatening people that if they didn't pay money to the church, their loved ones would remain in purgatory. Back during the potatoe famine in Ireland when children were starving to death, the churches would badger the people for money - sacrificing money for their children in order to build elaborate church buildings.

The thing about priests not marrying was to save the church money so that they wouldn't have to support a wife and children along with the priest. There are many beautiful and wonderful things about the Catholic church. But it is full of false doctrine and worst of all, priests who do not demonstrate love and caring of others at all. They are typically pompous, self-centered, pampered men who have no idea what it's like to live in the real world yet think they can give advice to their parishioners.

It's betting shorthand that explains the probabiliites surrounding a betting choice. Ron, Henry, Bob, and their staff of programmers used around 24 months beta-testing Zcodes before also launching it stay and it surely shows. For example, betting columns or dozens in roulette pays , so if you bet 1 unit, you win 2 if it hits.

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NBA team won't play national anthem before games. Why more thieves want your car's catalytic converter. Spears says she's taking time to 'be a normal person'. Answer Save. Divide By Zero Lv 7. Favorite Answer. I hope that I could help. You can use the following formula to calculate potential returns with decimal odds:. Whichever format odds are written in, they all have an equivalent in another format.

Not only will this help you understand your potential return, but it also makes it easier to compare betting odds across sportsbooks. As the US sports betting industry continues to grow, so does the selection betting options, or betting markets, at each site. Odds will vary between these markets, and even between the same markets at different sports betting sites. Not quite sure what every US sports betting market means? These are the most popular:.

A straight bet is a single bet on the outcome of a game or sporting event that is determined by a money line or point spread. A futures wager is a bet placed on the outcome of an event in the future. A parlay wager is a single bet that is linked with two or more wagers.

In order to win a parlay bet, a bettor must win every wager in the parlay. If a bettor loses one wager in the parlay then they will lose the entire parlay bet. Parlay bets tend to have much higher odds than other bet types. Teaser bets are usually available for basketball and football events.

A teaser allows bettors to combine their bets on two different games and adjust the point spreads for the two games. However, the better will see a lower return in the event that their teams win. A round robin is essentially a series of parlay bets. For instance, a round robin made up of three teams will consist of three two-team parlay bets.

While gambling odds can vary between US sports betting sites, you should now be equipped with the knowledge and know how to start betting and find the best odds on the US sports betting market. Not sure where to bet?

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