Everyone likes to wager; the question is, how much should you really risk on any given bet? If you’re curious, you can use Sitemap Calculator to work out the theoretical odds of any given bet, as everything is provided on their website. You’ll simply need to enter the odds for each team/player/event and the stake to work out what level of risk you’re willing to take on any given wager.
The Overall Odds
Here’s where things can get a little tricky. You’ll notice that the overall odds for any given event are not always what you might expect. For example, the Superbowl has an overall betting odds of 5.0, which translates to 1 in 20, or 0.05 odds of winning the game. This is generally due to the fact that people are not always confident that their favorite team will win, so they want to hedge their bets by placing a few smaller wagers on other teams as well.
Similarly, a World Series bet has an overall betting odds of 12.0, which means you’re really betting that the Yankees will win the series 1.12 times. This is a pretty high number because as a general rule, people think the chances of their favorite team winning are pretty high, so they’ll try to avoid getting burned by placing larger wagers on those teams.
The point is that when you’re entering wagers one at a time, the overall odds will be displayed along with the team/player/event you’re selecting. However, if you were to enter a wager on the Superbowl and then a wager on the NCAA basketball tournament a few days later, the overall odds for the Superbowl would reset to just 1 in 20, which is what you’d expect since the NCAA tournament is a completely different game. This also means that if you had initially chosen the NCAA tournament, then you’d need to look for different odds for the Superbowl in order to get the bet settled at the original odds.
As mentioned above, one way people hedge their bets when placing wagers on the Superbowl is by placing smaller wagers on other teams as well. If you look at the list of available betting sites, you’ll notice that many of them offer various payment methods, including Visa, MasterCard, and PayPal, which many people are likely to have available in their accounts.
This makes it much easier for people to place wagers online, as they don’t have to worry about paying with a certain method as long as their credit card has enough credit available. If you’d like to learn more, you can contact customer service via live chat or email.
Working with odds is not an exact science, as you might expect, so it’s important to remember these few things if you’d like to place successful wagers: