Basketball Betting Odds Explained by W88indi Sportsbook Experts. Know all the types of odds & get 3 bonus strategies. Learn how Decimal Odds work with example.
Basketball is an entertaining sport that you can not only enjoy viewing but also betting on. To start betting on basketball matches, it is important to understand the different aspects of the sportsbooks, which includes the betting odds. In this article, we will explore the basketball betting odds explained by our experts with examples from the W88 Sportsbook and 3 bonus strategies to win.
Basketball Betting Odds explained for Beginners
To understand basketball betting odds, it is important for you to first understand what are betting odds in general. Betting odds in sportsbooks are provided as predictions by bookies to see which team is more likely to win than the other. There are different forms of betting odds like decimal, fractional, etc. which we will be looking into below.
Basketball betting odds is also the same wherein you get to wager on odds that provide you with an idea of which team is more likely to win in the sportsbook. That being said, betting odds also help in seeing the potential payout returns on your winning bet as the payout returns are directly influenced by the betting stake amount and the betting odds of the bet options. By the end of this basketball betting odds explained article, you will get real match examples and a betting understanding of how betting odds predicts potential match winners and also provide payout returns.
3 Types of Betting Odds formats you should know
In the next section of this basketball odds explained article, let us take a look at the 3 different kinds of odds format that are common in the betting world online. In sportsbooks, you can use any of these betting odds if they are available to wager with, and so understanding how they work is extremely important as part of the basketball betting odds explained guide.
Decimal Betting Odds: The first and most famous betting odds is the decimal betting odds format wherein odds are given in simple decimals. These are common in Sportsbooks and used by many beginners as well as pros thanks to its simple formula which is odds x stakes = payout.
Moneyline Odds: Moneyline odds is the second common formula for betting odds wherein odds are given in the decimal format but marked with a negative or positive sign. These signs indicate how much you need to wager to gain certain payouts. For instance, if the odds are -10 in the sportsbook, then you must wager ₹10 to earn back double including the stake amount as part of the payout return.
Fractional Betting Odds: As the name suggests, fractional odds are basically betting odds given in the fractional format wherein you know how much you must wager to gain certain amounts. For example, if the odds are 5/10, then this means that you must wager ₹5 to earn back ₹10 as payout on winning bets.
Note:Although there are different betting odds, the decimal betting odds is extremely popular since it is extremely easy to read and understand thanks to its formula. The decimal format also helps you understand which team is more likely to win in the sportsbook easily making this even more appealing to bettors across the globe.
Decimal Basketball Odds explained with W88 Sportsbook examples
Let us now introduce you to the real match example in this basketball odds explained guide. Here, we have take W88 sportsbook example of a real basketball match between KCC egis and Goyang Sono Skygunners.
The betting odds are given in the decimal format for both teams, and the table below shows how the decimal betting odds formula is applied to seek the potential payout returns of the betting options.
Wagered on Team 1
Wagered on Team 2
Formula: Betting Odds x Betting Stake = Total Payout Returns on Winning Bets
Betting Odds: 1.47
Betting Odds: 2.65
Betting Stake: ₹100
Betting Stake: ₹100
Total Payout Return: ₹147.00
Total Payout Return: ₹265.00
In the table above, you can see how the formula is applied so that the potential payout returns are provided. You will also notice that because of the formula higher odds pay more than the lower odds in the sportsbook. This is because teams that have lower chances of winning are given higher odds since the risk of wagering on them is high.
Whereas, lower odds means that there are fewer odds to defy, and so the teams that are more likely to win are given lower odds. That being said, it is important to note that odds change depending on the real match outcomes during in-play betting, so you should follow strategies to ensure the odds are always in your favour.
3 Strategies to turn Basketball Odds in your Favour
In the final section of our basketball betting odds explained article, we will leave you with three bonus strategies that can help you win with a guaranteed 9&% boosted winning rate. These strategies are curated for beginners from our experts, so be sure to make good use of them in your basketball betting journey online.
Observe at least one set of basketball match: The first thing you should do as a strategy to win is observe at least one set of basketball match and place in-play bets so that you get an idea of how the odds are changing based on the set one outcomes to place more accurate bets.
Make use of statistical data charts in the sportsbook: Secondly, it is best to always make use of statistical data charts that come with previous match scores in the sportsbooks in an ordered form that can easily help you understand which team is more likely to win in the sportsbooks.
Go for lower betting odds than higher odds: As shown in the previous section, lower odds provide fewer payout returns because there are fewer odds to defy. This means that the betting options with lower odds are more likely to win, and so as a strategy, you should always observe and wager more on lower odds.
Conclusion
This was all about Basketball Betting Odds Explained with W88 Sportsbook example. Learning how betting odds work is the first step to placing accurate bets to win big payout returns in sportsbooks. So, join the W99 website today and play basketball betting on updated odds in popular leagues. To learn how to place bets on basketball matches and also how to win by betting accurately almost every time via strategies from experts, keep visiting the W88indi website.
