Predicting the Putt: Understanding Odds in Golf Betting
Before you can even think about wagering on a golf event, you need to know how odds work. Every wager available has its own odds. Knowing how to read the wagers tells you so much. You'll know what the sportsbook thinks is most likely to happen, and you'll know how much money you can win for your wager.
What Are the Odds?
The odds are how likely a sportsbook thinks a wager is to come true. The odds assigned to any potential wager influences how much money you'll win if you make a successful wager. Some possible wagers include the score a player gets on a particular hole, whether one golfer does better than another on a specific hold, or which golfer wins a golf event. There are many different possible wager options for you to choose from when betting on golf, giving you different choices to consider.
Understanding American Odds
American odds are some of the most confusing in all the different sporting events. When you look at a possible wager, you're thinking of making; you'll see odds displayed like +220 or -110. These numbers tell you how much you can win by placing a wager. When the value is positive, it means that's how much money you'll win when wagering $100. If the number is negative, it means you will win $100 when you wager the negative number value. In other words, a wager with +500 odds will pay you $500 for every $100 that you wager. -200 odds will reward you with $100 whenever you Wager $200. American odds are confusing, but when you learn them they are simple to use.
Understanding Decimal Odds
Decimal odds are simple to work with. To convert your wager value into what you will win, multiply your value by your decimal odds. If the odds are .17, you could win $17 on a $100 wager. If your odds are 5.0, you could win $500 on a $100 wager.
Learning How Fractional Odds Work
Fractional odds are nearly just as easy as decimal odds. When your wager odds are fractional, multiply your bet value by the top number in the fraction and divide it by the bottom number to learn what you could win with your current wager. Learn to calculate your winnings using odds and you'll know which wagers to take.
Don't Forget the Bookmakers Edge
Along with the actual odds of a wager, you should consider what bookmakers edge you're paying as well. Each sportsbook incorporates a bookmakers edge into the wagers. This edge pays the casino money as gamblers play. Most edges are slight and won't feel like they're taking much money as you play, but when you factor in all the many different gamblers paying in that slight edge, the sportsbook is earning serious money from its minor edge.
When you understand odds, you can quickly see when a wager is statistically a bad idea or when you have a good chance of getting a major win. Use this data to help you get more from your golf bets and hopefully help you win more regularly too.