Guide to Betting Odds

Online bookmakers can be a quick and convenient way of placing a range of bets. However, many people have little or no understanding of how betting odds work and of the terminology used by bookies. Once the jargon is mastered though, along with a basic grasp of how bets work, using online bookmakers can be both fun and profitable.

For instance, the term ‘odds’ refers to the likelihood of a win (whether this is a horse race, football game etc.) and the amount of money bet on a game or race can usually depend on the odds. Odds are worked out in Europe on a decimal basis (though in America, fractional odds are calculated) so, for example, if a horse was classified as being 3.10 to win, for a £10 stake, a successful better could win £10 x 3.10 which would result in winnings of £31.

The amount of money placed for a bet is called a ‘stake’ and the minimum amount which a stake can be, depends on the game or race or the particular online bookmakers. The term ‘evens’ refers to a team or horse which has a 50/50 chance of winning. When a punter bets on an even game or race and wins, they generally win double the stake they originally betted. Bets can become more complicated and can include terms such as long odds and odds against. Here at GetFreeBets.co.uk we can provide the links to a range of online bookmakers which allow a player to place a range of bets on various sports and games.