Wednesday, June 1, 2011

Betting Tutorial: Odds

Odds for different outcomes in single bet are presented either in European format (decimal odds), UK format (fractional odds), or American format (moneyline odds). European format (decimal odds) are favored in continental Europe, Canada, and Australia. They are the ratio of the full payout to the stake, in a decimal format. Decimal odds of 2.00 are an even bet. UK format (fractional odds) are favored by British bookmakers. They are the ratio of the amount won to the stake. Fractional odds of 1/1 are an even bet. US format odds are favored in the United States. They are the amount won on a 100 stake when positive and the stake needed to win 100 when negative. US odds of 100 are an even bet.

For example, if we get decimal odds (the kind I use on this blog) of 1.5, and we bet $10, we can expect to win $15. In UK odds, that would be 1/2; the moneyline would be -200.

Laying is different, and I won't be posting lays on this blog. If you are interested, you can read more at Betfair.

Monday, May 30, 2011

Betting Tutorial

Seeing as some of my readers are not very familiar with betting, I'll try to explain some of the basics.

This is the most commom type of bet. Here you simply bet for a certain result/score/outcome. Typically, its in the form of:1 X 2 (1 being usually the player/team that has the home field advantage, X being a draw/tie, 2 the other player/team)

1 X 2 type bet

Other sports, such as tennis have only 2 possible outcomes: 1 (or) 2 (there is no tie/draw).

1 (or) 2 type bet

Yet another very popular type of bet is the so called Asian Handicap, which removes the possiblity of draws/ties by giving one of the teams/players a certain advantage. In the first example, a bookie might give Peñarol a 1.5 goals advantage, thus making a tie impossible.

Everytime you lay a bet, you are essentially betting against a certain result/score/outcome.

Back and Lay odds

For example, if we lay Peñarol to win, we'll get payed if Velez wins or if the match ends in a draw.
There are several other special types of bets, such as betting half-time scores, number of goals, number of sets in the match, etc. It's impossible to cover all, but most are fairly intuitive.

Thats enough for this post, next I'll explain the different types of odds, stakes and bankroll.
Be sure to check out my current betting balance @ google docs

Sunday, May 29, 2011

French Open

Falla v Chela
Over 37.5 Games
1.96 @ Betfair
Stake 7/10

Simon - Soderling 
Simon +5.5 games
1.83 @ Betfair
Stake 7/10

Saturday, May 28, 2011

French Open

Montañes v Fognini
Montañes to win
1.6 @ Betfair
Stake 8/10

Ferrer v Monfils
Monfils +5.5 Games
2.4 @ Betfair
Stake 6/10

Gasquet v Djokovic
Dojokovic to win 3-0
1.54 @ Betfair
Stake 8/10

Wawrinka v Federer
Federer to win 3-0
1.7 @ Betfair
Stake 7/10

Champions League Final: Barça Wins!

Goals from Pedro, Lionel Messi and David Villa - after Wayne Rooney had equalised for United - gave the Catalans their fourth Champions League cup today at Wembley.
Barcelona controlled the majority of the match, and United failed to produce a real threat over the last 20 minutes as the Spanish champions sealed their win over the English champions with a 3-1 final tally.

Congratulations Barça!

This week has seen some very narrow upsets in my picks (namely Del Potro and Soderling), but I'm confident it will turn around soon. Keep following for more great picks!