If you are new to sports betting, then you definitely need to learn where and how odds come from. Let’s say you’ve downloaded the 1Win app for the first time and don’t know what to do next. Knowing how odds work is critical, because this knowledge will allow you to understand how likely an event will be and how much you can win. At first you will find this all quite difficult, but we will try to tell you how odds work in the most accessible way possible.
What are Odds in Sports Betting?
Odds are the probability of a certain result taking into account the margin of the betting operator. It is used to determine the possible payout and net profit in case of a successful bet. In Uzbekistan, the European format of the odds is offered to all players. It is written as a decimal fraction with two digits after the dot.
For example, in a football match between Inter and Juventus, the betting site gives odds of 2.15 for a win for the home team, 3.55 for a draw and 3.45 for a win for the visitors. If you bet 1,000 UZS on Inter’s victory and your bet plays out, your net profit will be 1,115 UZS (1,000 * 2.15 – 1,000 = 1,115).
Types of Odds on Betting Sites
Not all coefficients are displayed in the form we are used to. In the UK, they are written as classical fractions. For example, 20/4. In the form we are used to, this would be a coefficient of 6.00. To translate the British format into the European format, use the formula Ke = Kb + 1. That is, in this case, you divide 20 by 4 and add one. The result is 6.00.
The United States has its own ratios. In this country they are written as a whole number with a minus or plus sign. A plus odds shows the potential net profit for a bet of 100 UZS. A minus odds shows how much money we need to bet for a potential net profit of 100 UZS.
For example, in a tennis match between Yannick Sinner and Novak Djokovic, the operator gives odds of -417 for the Italian to win and +320 for the Serbian. If you bet 417 UZS on Sinner you can get 100 UZS net profit. On the other hand, you just need to bet the same 100 UZS on the Serbian and in case of his success you will get 320 UZS net profit. The American plus coefficient can be converted to the European one by the formula: Ke = Ka/100 + 1. For the minus one there is another formula: Ke = 100 / (-Ka) + 1.
We have already written about the European odds, which are familiar to the local market. In Uzbekistan, all operators in Uzbekistan, without exception, use this format.
How do the Odds Differ Between Different Betting Apps?
The initial calculation of the betting odds is the result of the work of experienced analysts, who in their calculations apply both mathematical models and analytical analyses of situations based on external information about the state of a particular player. There are even separate companies specialising in the preparation of betting lines.
The analytical centres provide “pure” quotes, which are subsequently overlaid with a margin, a percentage for the betting operator’s services (in essence its net income). The higher the margin of a particular company, the lower the odds it will offer to its own clients. In this the real probability of the outcome of a particular event depends on what margin the betting platform will set. The line may change in the case of:
- Before the start of the event, there was a message that really affected the possibility of the outcome (e.g. a goalkeeper was injured, or a player broke up with his girlfriend before the event, or the opposing team had a strong forward in the line-up, etc.);
- The odds were overloaded due to a large number of bets. In the latter case, the possibility of changing the result will not be affected by the change of indicators.
Comparing odds allows you to track the real situation in the market. Use special services for this purpose, which:
- Gather a list of betting sites and include monitoring their lines;
- Get information about the set values in the lines;
- Automatically sort the odds and give the user the result “from higher to lower” in a comparison table.
The client in comparing the odds for a particular match can see where his bet will bring more profit in case of victory. He can place his own money where it is more profitable. The comparison of rates also allows you to find “forks”, play according to your own strategy, increase your income and so on.
Benefits of Using the 1Win App
Odds allow us to determine the probability of the desired event. They make it much easier to do this. However, they do not always objectively assess the state of affairs. Odds are the probability of a given event according to the betting site. But even operators are often wrong. If you have a good understanding of certain sports, you will be able to find underestimated events – this will bring you even more profit.
Lately, many players in Uzbekistan calculate odds and place bets not only from a computer, but also from a phone. Mobile applications have a lot of advantages, which ensures their popularity. Let’s consider it on the example of 1Win app:
- Quickly navigate to the app with a single click.
- All sections load quickly thanks to excellent optimisation.
- Allows you to receive alerts about sporting events, new promotional offers.
- You can place your bets anywhere you like – the main thing is a stable internet connection.
- The programme works well even on older phones/tablets.
So, if you still don’t have mobile betting software, you can download the 1Win apk file from this link. It is free of charge and will open the bettors’ entrance to the world of new possibilities.
