To begin with, understanding odds is, with not a slightest exaggeration, the primary aspect of getting cash from the events like cheltenham racing festival or any other racing contest.
And learning the principles of odds calculation often turns to be a matter of winning and losing. Thus, if don’t yet know how the odds are being read, you need to carefully study the following article.
One of the most commonly met types of odds is fractional. As derived from the name, it represents a fraction such as 4/1, 7/2, 5/3 etc. Although these odds might seem rather simple at first glance, there are often misunderstandings tracked among the bettors (especially the new ones) as to how they are read. The best way to explain that is by viewing the example.
Let’s say we have odds 4/1 (four-to-one). To know what the winning chances are we need to first sum up the two digits of the fraction (4+1 = 5). After that, we divide the right-hand side by the number we’ve acquired (1/5 = 0.2). This way we’ve found out that the winning chances are 0.2 or 20%. Thus for every $1 stacked you can receive $5 back ($4 as winning, plus $1 you placed as a wager).
Decimal odds are less frequently met on bookmaker sites, yet quite a lot of betting services refer to those. These odds are usually represented as 5.00 (equivalent to 4/1 in fractional odds) and offer much higher convenience for a punter to calculate his/her winning sum. To know the payout one just needs to multiply the stack he’s going to make by this number. This way you’ll know that per each $1 stacked you’ll get back $5 (again, $4 as a winning, plus your own $1 stack). Understanding both fractional and decimal systems will allow you to bet on a number of sites simultaneously or choose the one offering better odds.
In what refers to horse racing, there’s also such a notion as favourites. This means each race has a favourite horse, the one that’s got all chances to win. A horse like that is usually marked by F alongside the odds that are, in fact, represented the other way round – 1/4 (unlike 4/1 for example). This means stacking on that horse will grant you with the lowest winning sum, as quite a lot of people are going to place their wagers on it. Thus, keep it in mind and consider this aspect when developing your own betting strategy.