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Understanding Betting Odds at Best Online Bookies in India 2024

 Online betting odds

Betting odds represent the probability of an event and the potential payout you might receive if your prediction is correct. 

These odds are the backbone of informed decision-making in the betting arena. Consequently, understanding the odds allows you to assess the likelihood of an outcome and determine the potential return on your investment.

By the end of this guide, you will know how to improve betting decisions with odds, giving you an edge in the dynamic world of Indian sports betting.

Best Bookmakers in India’s Betting Odds: Fractional, Decimal, and Moneyline

There are three main types of odds – Fractional, Decimal, and Moneyline. Top gaming sites in India on KrakenBet.in use these formats because they are popular with gamers locally and overseas. 

Type of Odds

Representation

Reading Method

Example

Calculation

Fractional

5/1, 2/3, etc.

- Left number: Potential profit

5/1

₹1 stake = ₹5 potential profit

- Right number: Stake

- Add them: Total potential return

Decimal

2.00, 3.50, etc.

- Multiply stake by decimal odds

3.00

₹100 stake * 3.00 = ₹300

- Result includes both stake and profit

Moneyline

+150, -200, etc.

- Positive odds: Potential profit on ₹100 stake

+150

₹100 stake = ₹150 profit

- Negative odds: Stake needed to make ₹100 profit

-200

₹200 stake = ₹100 profit

A table providing a quick reference for understanding and interpreting Fractional, Decimal, and Moneyline odds.

Probability and Implied Probability: Connecting Odds to Likelihood

Probability measures the likelihood of an event happening, expressed as a number between 0 and 1. Whether it's fractional, decimal, or moneyline odds, they convey the bookmakers' perception of the likelihood of an event occurring.

If you see odds of 2/1, the bookmakers believe there's a one in three chance (probability of 1/ (2+1)) of that event happening. According to the bookies, if the odds are 2.00, it's a 50% chance. Even in moneyline odds, a positive odds of +200 indicates a 33.33% chance.

  • Odds of 2/1 (fractional) imply a 33.33% chance.
  • Odds of 2.00 (decimal) imply a 50% chance.
  • Odds of +200 (moneyline) imply a 33.33% chance.

Calculating Payouts at the Best Bet Site in India

Whether you're a seasoned bettor or just starting out, understanding how to calculate potential payouts is vital on your journey to sports betting wins.

Odds Format

Formula for Potential Payout

Example

Fractional

(Numerator/Denominator+1) ×Stake 

Odds: 5/1, Stake: ₹100

Potential Payout: ₹600

Decimal

Stake × Decimal Odds

Odds: 3.00, Stake: ₹100

Potential Payout: ₹300

Moneyline (+)

(Stake/100) × Moneyline Odds

Odds: +150, Stake: ₹100

Potential Payout: ₹150

Moneyline (-)

(100/Moneyline Odds) × Stake

Odds: -200, Stake: ₹100

Potential Payout: ₹50

Practical Tips for Bettors: Using Odds Knowledge to Make Informed Decisions

Start by knowing your odds – fractional, decimal, or moneyline. Familiarize yourself with what each number represents. Moreover, don't settle for the first set of odds you see. Different bookmakers may offer different odds for the same event.

Lastly, gambling should be an enjoyable pastime, not a stressful activity. Set limits, take breaks, and seek help if needed. The true victory is enjoying the thrill responsibly.

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