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As you can imagine, these factors are likely to affect how a game plays out in most cases. Bookmakers deem themselves as experts in all things sports betting, so their opinion should count for something. They, therefore, also take into account their expert opinion as well as that of other MLB betting sites or NFL betting sites , depending on their area of interest to craft the best sportsbooks odds.

In a nutshell, the more data bookies have, the more accurate their number-crunching process and the more competitive their odds will be. Why do odds vary between bookmakers? So, how then do odds vary from one bookie and the next?

For one, coverage has a lot to do with it. For instance, the best betting sites for tennis will concentrate their coverage on the sport. Naturally, such bookies will offer better tennis odds than the best betting sites for MLB. Bookies are in it to make a profit. So, bookmaker odds factor in margins that ensure they make a profit irrespective of the outcome. And these profit margins vary among bookies, thereby affecting sportsbook betting odds.

Three distinct types of odds namely decimal, fraction, and American odds exist in the world of sports betting. And as standard practice, bookies display these odds clearly on their website for all to see using their respective formats. Bettors generally get used and stick to whichever format they started with.

As these are merely different ways of presenting the same thing, different odds formats hold no real difference regarding payouts. You can even convert one format into another and also show the figures as implied probability percentages. Decimal odds explained Decimal odds are also known as European odds or continental odds, depending on who you ask. These sports betting odds formats are popular in continental Europe, New Zealand, and Canada.

Because they are easier to understand and work with, decimal odds are also popular among sports betting fans who prefer simplicity. By merely looking at decimal odds on a site, most bettors can immediately differentiate the favorite teams from the underdogs. Fractional odds explained In sports betting, fractional odds are also referred to as British, UK, or traditional odds.

As these monikers imply, this odds format is widely preferred by British and Irish betting sites. Typical of how you write fractions, a slash or hyphen divides the two numbers with fractional odds. This is why they are the most preferred sports betting odds format by punters the world over. Simply put, fractional odds represent the ratio of the profit you win relative to your initial bet. American odds explained American odds, also known as moneyline sports betting odds, are naturally popular at betting sites based in the United States.

When displayed on betting sites, a positive or negative sign before a particular bookie-determined number accompanies the odds. However, in both instances, bettors will get their initial wager back in addition to the amount they win. As a general rule of thumb, the margins between the odds for favorites and underdogs widen as the probability of winning for the stronger team increases.

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