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<\/figure><\/div>\n\n\n\nEvery day, we ask random questions about the chance that something or an event will happen. For example, you make ask what\u2019s the likelihood that it will rain (so you can bring an umbrella) or the chance that you\u2019ll bump into your close friend. This is what be we call as probability and it also works in sports betting. At its core, sports betting allows you to predict the outcome of a certain event and when your prediction is correct, you can collect your win.<\/p>\n\n\n\n
For a given event or occurrence, there are a certain number of results or outcomes. For example, if you roll a dice, there are six possible outcomes. In short, when you bet that a \u2018three\u2019 will turn out, you have a 1 in 6 chance or 16.67% chance of getting it right. Or take the case of the flipping of a coin. There are two outcomes- heads or tails. If you bet that heads will turn up, you have a 1 in 2 chance of getting it right or 50% chance. In short, the betting odds simply give you an idea as to how likely a certain event will happen.<\/p>\n\n\n\n
There are different ways on how betting odds are presented. For example, for bookies based in the United Kingdom, the odds are presented as a fraction, say 1\/6. However, the majority of the sportsbooks that accept players from the Philippines present the odds in decimals.<\/p>\n\n\n\n
Use the Betting Odds to Check the Probability of an Event<\/h2>\n\n\n\n
When you sign up for a sportsbook, you\u2019ll find different numbers represented in different ways. For example, you\u2019ll find a 9\/1 or 4\/1. In online sports betting, we call these numbers as fractional betting odds. By checking out these number representations, you can easily analyze how likely an outcome or event is to happen.<\/p>\n\n\n\n
For ease of computation, we replace the first digit with A and the second with B so that a 9\/1 will become A\/B. To calculate for the probability of an event happening, use the following formula: B\/(A+B). Therefore, a fractional PBA betting odds of 9\/1 for San Miguel Beermen can be calculated as: 1\/(9+1)= 0.10.<\/p>\n\n\n\n
This means that the event of San Miguel will win in the game is 10 percent. But if the basketball lines indicate that the team is assigned a 1\/1, it means that it has a 50 percent chance of winning (or losing).<\/p>\n\n\n\n
Betting Odds - Calculate Your Winnings from the Fractional Odds<\/h2>\n\n\n\n
The betting odds presented by your sportsbook can offer you a wealth of information. When you bet on sports like PBA or NBA, you should check out how the betting odds are presented first before placing your wager.<\/p>\n\n\n\n
Let\u2019s go back to the example used above: 9\/1. Again, it will be translated into A\/B. This means that for every value of B, you end up winning A and the wager is returned to you. This means that if you bet $1 for a team rated at 9\/1, it only means that you win $9.<\/p>\n\n\n\n
What to Do With Decimals?<\/h3>\n\n\n\n
In other top sportsbooks, the NBA betting odds are presented as decimals. For many players and bettors, odds presented as decimals are easy to explain and compute. If you\u2019re faced with decimals for NBA betting odds or MPBL odds, you simply use this formula: your winnings= (odds x stake)- stake. If the sportsbook reflects decimal odds at 9.0, it means that with a stake of $10, you end up with a win worth $80.<\/p>\n\n\n\n
When you sign up for a real money account with many sportsbooks, there\u2019s a big chance that you\u2019ll encounter both types of odds. As you can see, each type comes with its own set of information and benefits for the player. However, if you\u2019re a beginner in all types of betting from PBA betting, UFC betting to NBA betting, you\u2019ll feel safe and confident with the decimal betting odds.<\/p>\n\n\n\n
The problem with fractional NBA betting odds is that these only represent your potential winnings and will not inform you about the returned stake. The decimal odds of top sportsbooks will provide you with that information thus giving you a more clear picture. Thanks to this benefit, several top-rated online sportsbooks that cover popular sports like football, basketball, and women\u2019s basketball use the betting odds in decimals.<\/p>\n\n\n\n
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