How to Read Boxing Betting Odds
The industry of online betting is undoubtedly a prevailing and overly-popular industry globally. In the online gambling industry, enthusiastic gamblers look for the most reputable online casinos, like SkyCity Casino, where they can play various online casino games. Similarly, passionate bettors look for top-rated sports betting sites where they can place bets on their favorite sports.
We’ll dedicate this text to boxing betting and give you an outline of all you need to know about how boxing betting odds work and how you can read them. Reading betting odds is the first step to successful betting, and you shouldn’t dive into this pastime before learning how they work. Betting odds help you calculate the likeliness of your bet to become a winning one, which can significantly help you in developing betting tactics and betting strategies.
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Let’s explore in greater detail how reading boxing betting odds works. There are three primary ways to calculate your chances of winning.
How to read betting odds presented in decimals?
When you dive into finding the best boxing betting odds online, you’ll come across various platforms where these betting odds can come in percentages, fractions, or decimals. Let’s first go over how reading betting odds in the form of decimals works. You’ll undoubtedly need to learn how to read all three types of betting odds presentations, as some top-rated websites may only offer betting odds in just one kind of presentation.
In short, reading betting odds in the form of decimals is relatively easy and goes by the following simple equation – betting odd x (times) stake – (minus) take = your potential winnings. Below, we’ll list a couple of examples to understand better the equation we’ve just presented.
- If your stake is $10, and the betting odds are 9.0, you have a chance to win $80.
- If your stake is $10 and the betting odds are 4.0, you have a chance to win $30.
- If your stake is $10 and the betting odds are 2.5, you have a chance to win $15.
- If your stake is $10 and the betting odds are 1/25, you have a chance to win $2.50.
How to read betting odds presented in fractions?
The primary purpose of betting odds is to help you calculate your potential winning on a bet you want to place. In other words, betting odds can show you the precise amount of cash you can win if your bet turns out to be a winning one. For this reason, learning how to read these betting odds is essential for all bettors.
This section will cover how reading betting odds presented in fractions works. Before we give you examples, just focus on the following trick on reading fractions – replace both numbers in the fraction with letters. For example, you can replace them with A and B, or with X and Y, if you prefer it that way. The calculation goes as follows: each value of the letter B (or Y), which is the value that you bet, can win you the value of the letter A (or X) plus the value of the stake return.
- If you place a bet worth $4 and the betting odds are 1/4, you can win $1.
- If you place a bet worth $1 and the betting odds are 1/1, you can win $1.
- If you place a bet worth $1 and the betting odds are 4/1, you can win $4.
- If you place a bet worth $1 and the betting odds are 9/1, you can win $9.
How to calculate the probability of winning a bet in percentages from betting odds?
If the betting odds are presented in the form of fractions, you can use them to calculate the percentage of potential winnings, or in other words, how likely your winning is to happen. Like in the examples we’ve mentioned above, you can replace each number in the fraction with letters, A and B or X and Y. The equation will go as follows: % (the percentage of probability for you to win a bet) = Y / (X+Y).
- If the betting odds are 1/4, your chances to win are 80%.
- If the betting odds are 1/1, your chances to win are 50%.
- If the betting odds are 4/1, your chances to win are 20%.
- If the betting odds are 9/1, your chances to win are 10%.