- Tutorial - The types of odds
On Coteur, I had a duty to talk to you about odds since it's the foundation of the site.
The odds are numbers that represent what you are going to be able to win for a certain wager.
There are three types of ratings on Coteur, as on all bookmakers suggested here, the odds are offered by default in the European model, called "decimal odds". The odds in this format represent how many units it is possible to win for wagering one unit. These odds are generally presented with two decimals, which for example, pay out:
PSG - ISTRES
Odds on PSG winning: 1.65
Odds on a draw: 3.10
Odds on Istres winning: 4.50
So if you place €1 on PSG winning and PSG wins, you win €1.65. If you had placed €100, the winning would be €165.
In the same way for the draw, €1 nets €3.10 and for Istres winning, €1 placed nets €4.5. This system is really very simple to figure out.
Be careful just the same, to make the distinction between your winnings and your profit If you place €100 on a draw and you win, you will receive €310 (3.10 * 100), but you will have made a profit of €210 ((3.10 * 100)-100)
The UK format:
The UK format, unlike the European format, directly shows you the profit and not the winnings with your wager. For our previous example, with UK odds, that comes to:
PSG - ISTRES
Odds on PSG winning: 11/17
Odds on a draw: 19/9
Odds on Istres winning: 7/2
So the profit for a wager of €100 on Istres winning gives:
100 * 7/2 = €350
It is very easy to go from the UK format to the European format by simply adding 1 to the Uk odds:
E.g.:
Total winnings: 100 * (1 + 7/2) = €450
The American format:
Americans obviously can't do the same as the Europeans and thus invented a system that is a real headache for the rest of us. As it happens, there are more than two ratings; the odds can be positive or negative.
Still in our example: PSG ISTRES, in the US system the odds would therefore give:
Odds on PSG winning: -154.55
Odds on a draw: +210.00
Odds on Istres winning: +350.00
Positive odds show you the profit you can make for a wager of €100. If you wager €100, it's therefore very easy to calculate. Now, we don't only play with wagers of €100, so let's see how to calculate:
Total winnings: Wager * (1 + US odds /100)
Profit: Wager * (US odds /100)
So If I wager €50 on a draw, my profit in the case of a win will be:
50 * (210/100) = €105
Negative odds show you how much you must wager to obtain winnings of €100 (careful, not a €100 profit)
Total winnings = wager * (1 + 100/ US odds)
Profit = wager * (100/US odds)
So If I lay out €50 on PSG winning, that gives:
Total winnings = 50 * (1 + 100/154.55) = 82.35
Profit = 50 * (100/154.55) = 32.35
If you forget the sign, it's just used to show the types of odds to figure out.
In conclusion,, the European system seems to be a lot simpler to me; besides, it is in the process of making its mark with respect to the other systems.
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