If you’re a fan of sports betting, you’ll know that most places will only take bets on evens. This can make the whole process seem like a bit of a guessing game as to what the actual outcome will be. But what exactly is going on behind the scenes that creates these odd betting ratios? And more importantly, can you actually make money from them? Let’s have a look, starting with the basics of evens and odds, and how they work together to create the odd betting ratios that you’ll often see around the sports books.
The Basics Of Evens And Odds
While most bookies will only offer bets on the evens, this doesn’t mean that there isn’t value in taking a punt on the odd. After all, as a general rule, if the bookie thinks that the odds are in your favor, you’ll inevitably end up winning some money. But just how much can you actually make betting on the odd? Let’s have a look.
Evens Vs. Odds
In a nutshell, odds are the potential for something to happen, and evens are the actual occurrences of something happening. For example, if you’re betting on whether or not a certain sports team will score more than the opposing team, the odds will be represented by the team scoring more goals than the other side, and evens will be the number of goals that were actually scored. This is usually the case when there is an even number of teams competing.
So, if you’re on the right track, odds are always going to be less than evens. The reverse is also true, so if you’re playing the underdog, you’ll usually end up with winning odds. Let’s have a look at how this plays out in practice.
As mentioned above, most places will only take bets on evens, which can make the whole process seem like a bit of a lottery as to what the actual outcome will be. This is because the bookie doesn’t want to give away any value, thinking that the chances of you winning are so slim that he doesn’t want to tempt fate by offering you positive odds. But this is where you come in, the savvy sports bettor. If you’re playing the favorite, it’s always a good idea to try and find a bookie that is willing to take your bet. Alternatively, you can look for odd ratios that are available, which will make the whole process a bit more scientific. The idea is to find something that you can bet on, but that is so unlikely to happen that the bookie will feel comfortable offering you positive odds on it.
The above point goes double for foreign exchange rates. For example, if you’re on the right track, you’ll see that the odds of the U.S. dollar falling against the Japanese yen are incredibly short-priced, while the odds of the dollar rising are heavily favored. In other words, the financial markets perceive there is a lot of uncertainty surrounding the U.S. dollar and the yen, making the dollar extremely vulnerable to a sharp drop in value. This makes the Japanese dollar highly sought-after as a safe haven for those looking to store large amounts of cash. Similarly, if you’re playing the under dogs in a sporting event, you’re almost certainly going to encounter some tricky odds. But if this is what you want to gamble on, then the best thing for you is the chance to win big!
Now, you might be wondering how all of this relates to collecting winnings or betting with cash. Well, in most cases it won’t! Remember, the whole point of this article is to introduce you to the glorious world of odd betting and its incredible odds that you might not encounter when betting with cash. So, we hope that this article was informative enough for you to consider trying out odd betting, even if it’s just for fun. If you do happen to collect on your winnings, however, be sure to do so responsibly!