Tag Archives: odds
Online betting
Online betting has been rapidly gaining ground over the years. The reason why it is so popular is simply because it is convenient. You can sit at home in front of the PC, have a cup of coffee and start betting. Setting up an account is very easy and you can place the betting odds anytime you want and from anywhere you want. Sports betting is real fun. Usually people bet for the teams they are supporting and against the teams they are not. But like everything else, online betting is also a game of chance. You can win if you place the right bet or even lose in case you dont. So there is a possibility of losing that you have to always consider. Hence, it is important to do your lessons on sports betting before you place the bet.
To get a hang of how online sports betting works, it is essential to know about the basic concept of sports betting. The concept is really not that difficult to understand. Once you get a hang of it, you can become quite an expert and win some really good bets. All you have to do is predict which teams or animals, in case of sports involving use of animals like horse racing, is most likely to win at the game. Then you need to wager a fixed amount of money on that team or animal. Other people will too place their own wagers on the team they think will win. These wagers might be the same as the one you have placed or they might be placed on other teams. In the case of your team winning the game, you will win all the money that the others had wrongly wagered or vice versa.
Sports betting has become very popular and widespread these days. In fact, it has given rise to another popular business and that is, bookmaking. Bookmaking helps in bringing the risks involved in betting to a minimum without which betting would become very risky as the betting odds are placed against events which nobody has any control over.
The Internet has come into picture in sports betting and this has led to the increase in popularity of online betting. Online betting combines sports betting with bookmaking and technology available over the Internet that makes it possible for people all over the world to take part in events that may be happening in other parts of the world.
Due to the introduction of bookmaking, online betting is less risky. Here the odds of a player, animal or team of winning the game or event are worked out and then priced appropriately. This way you place the betting odds on a particular team or against a team. Any which way you end up winning at least some amount even for a wrong bet.
The betting odds are decided upon by considering factors like weather conditions, location, quality of the teams, injuries, motivation to win etc. Depending on these factors, the bookmakers form a betting number. They chose a number whereby they will encourage the people betting to bet on the side which is weaker. The betting odds are also calculated depending upon the every day information of the game. These factors are worked upon with the help of formulas in order to arrive at power rankings. One look at the power rankings will tell you which way the game is heading. So make sure you check them before you place your bet.
Calculating Your Odds
Determining pot odds is a crucial part of any poker players game. Many players find it difficult to calculate the odds during the intense moments of battle, but calculating your odds comes down to once simple question; How much money will it cost to keep playing this hand and how much money am I likely to make if I catch the cards I need? Knowing the answers to these questions will save you from just giving away your chips at the poker table. A bit of basic math is required here, but if its your first time, I promise to be gentle.
Okay, to properly explain this we will need a set up hand. You (lets call you Johnny) have just been dealt 10 J and the flop is 2 8 9. The pot is currently 1000 (dollars or chips) and your opponent has just bet 300. With this basic information we must first figure out how many outs you have left. Outs are cards that can help you make a winning hand between whats already in your hand and the flop. You have 2 over cards (10 J), or cards higher than the flop, in your hand, and the deck has three more 10s and three more Jacks, beginning your total outs at 6.
With the flop you now have an open-ended straight (8 9 10 J), meaning that you need either a 7 or a Queen to make your straight. Since we know that there are four 7s and 4 Qs in the deck. That gives us an additional 8 outs for a total of 14 outs.
With a total of 14 outs, we can now calculate your odds by dividing them by the number of cards in the deck, 52. 52/14=3.3, giving you 3-to-1 odds on your hand. This is far less confusing than it sounds. All these numbers mean is that for every 3 times these five cards (10 J 2 8 9) are dealt, you should get one of your outs one time, but whether or not you win the hand depends on how you bet.
Now, lets discuss the bet. Your opponent bet 300 chips so you know have the second part of this equation in order to make a winning bet. You have to call your opponent because he only bet 30% of the pot which means that as long as you have at least 30% of the pot available to call, pot odds are in your favor. But, if your stack is less than 30% of the pot, you should fold and you live to die in another hand. So, to answer the above question; in this example it would cost you 300 chips to call and you could win a 1300 pot. In this instance pot odds are definitely in your favor.