Odds is a concept used to reflect the chance, the probability of the outcome of a certain match. For those who have been involved in betting for a long time, this term is probably no stranger to this term. However, “newbies” will still be quite surprised. So What is Odds? and how to see details and specifics? And 12Bet Find out in the article below!
What are Odds Odds?
Odds is the odds that the participant will receive when winning the bet in a match at the house. The house offers the Odds to attract the attention of the participants. At the same time, hit the doors of the available matches through predicting the results to make a profit. Along with that is the commission for the difference in European and Asian markets. Over/Under bets….
This rate is set by bookmakers in a variety of formats. From there, you will choose for yourself a type to bet and pay. However, participants need to understand and understand how to calculate money. That way you can make the best choice.
Basic Odds Types at 12bet
To get the maximum effect when participating Online football betting, you need to understand the types of Odds betting odds. Currently, 12bet supports 5 different types of odds:
1/ Hong Kong odds
Hong Kong odds, also known as Hong Kong odds. This type of bet is derived from European Odds. However, there are also some differences as follows:
- Hong Kong odds only with participant winnings
- Format with a value greater than 0.00
The amount the player wins is calculated by the formula:
=> Cash Out = Bet + (Bet x Hong Kong Odds)
+ Take an example for you to easily imagine. With Hong Kong odds of 0.90 and you bet 100,000 VND, when you win, you will receive the following specific amount:
=> Money collected = 100,000 + (100,000 x 0.90) = 190,000 VND.
+ Example 2: Hong Kong odds is 1.05 If you bet 100,000 VND. After winning, the amount you get will be:
Money collected = 100,000 + (100,000 x 1.05) = 205,000 VND.
2/ Indonesian Odds (Indonesian Odds)
One of the odds you need to pay attention to when participating in betting is Indonesian Odds. This is the odds converted from the Hong Kong odds. In case the Hong Kong odds are greater than 1.00, the Indonesian Odds will be placed the same as the Hong Kong Odds. Accordingly, the calculation method of each case will not be the same:
+ Where Odds Indonesia is a positive number
For the case where Indonesian Odds is a positive number when winning, the amount you get will be: Return = Bet + (Bet X Odds)
=> If you lose, all the money you bet on that game will be lost.
+ Where Odds Indonesia is a negative number
For the case of Indonesian Odds is negative, when winning the bet, the amount you receive will be calculated according to the formula:
=> Cash Out = Bet + (Bet / |Odds|)
For example: When Indonesian Odds is -1.25 and the amount you bet on that game is 200,000 VND. If you win, the amount you collect will be 200,000 + (200,000 / |-1.25|) = 360,000 VND.
In case of losing, you will lose the entire bet amount.
3/ American Odds (American Odds)
American odds, also known as American Odds, are also calculated based on Hong Kong odds. In case the Hong Kong odds are less than 1.00, American Odds will have the formula = -1 / Hong Kong Odds
Eg American Odds is 0.78 then the given formula will be: -1 / 0.78 = -1.28
4/ European Odds (Decimal Odds)
European Odds, also known as the familiar name, Decimal Odds. This is one of the types of Odds odds you will often see appearing in football betting because this type of odds will have some characteristics as follows:
- The display includes the bets and winnings of the participants at the house.
- The Decimal Odds ratio always has a large value of 1.00
- European Odds apply to 1×2 bets, parlay bets and even exact score bets, etc.
When you bet and win, the amount you receive will be calculated according to the specific formula as follows:
=> Cashback = bet x European Odds rate
+ Wallet example: You bet an amount of 100,000 VND and win with odds of 1.05. The formula for money is calculated as follows:
=> Money collected = 100,000 x 1.05 = 105,000 VND.
5/ Malay Odds (Malay Odds)
The Malay odds or Malay Odds displayed include both your bet and your winnings when participating in the game. Accordingly, the Odds format will have 2 cases when money is positive or money is negative.
+ Calculate money by positive number
For the case of positive calculation, if you win, the calculation formula is done as follows:
=> Cash Out = Bet + (Bet x Malay Odds)
+ For example: If the Malay Odds is 0.9 and you bet the amount is 100,000 VND. When winning the bet, your return will be: Return = 100,000 + (100,000 x 0.9) = VND190,000.
However, if you lose, you will lose all the money you have bet on that game.
+ Calculate money according to Negative Odds
The formula for calculating money if Odds is negative also has differences. In case you win, the winnings will be calculated as follows:
=> Cash Out = (Bet X Malay Odds) + (Bet X 1.00)
In case, you lose the bet, the amount will be refunded according to the formula: Loss = Bet + (Bet X Malay Odds)
For example: Malay Odds is -0.77, your bet is 100,000 VND. The refund is then calculated as follows:
=> Loss = 100,000 + (100,000 x (-0.77)) = 100,000 – 77,000 = 23,000 VND.
According to the above formula, it can be seen that if you bet 100,000 VND, when you lose your bet you only lose 77,000 VND.
Times of Odds
Odds There are also different stages. At the same time, each moment of the odds will have its own unique features. If you want to bet, you need to know to achieve the desired effect.
1/ Odds Open Odds
Open Odds is the first and opening stage of the odds. In the main tournaments, Odds will be opened a few weeks to a month in advance. For minor tournaments, this time will be from 1 to 3 days.
The house will be based on a number of different information such as: forces, performance, confrontation history, away team, weather factors, etc. From there they will give the most suitable odds.
=> See also: Betting experience
2/ Live Odds
Live Odds is the period when the odds table is announced. Usually about 1 day before the match. Moreover, this is the time when a lot of people participate in betting. The house’s task is to adjust the odds to the best fit as well as balance the bet amount.
3/ Running Odds
Running Odds odds, at this point, the amount of money that players participate in has entered a stable phase. Accordingly, the house will conduct Live Odds. At the same time, the odds will also be run continuously during 90 minutes of the ball rolling on the field.
Currently, most bookies offer players different types of bets. However, you need to choose a reputable address to participate. 12Bet is the bookie that you cannot ignore. Come to 12Bet to experience extremely interesting moments with the round ball!
The above article has provided you with some information about Odds as well as the most detailed view. Hope you guys choose the right odds and win the highest!
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=> Source: 12bet