Understanding Sports Betting Odds & Tips for Betting on Sports
12playOnline Sports Betting refers to predict and place bets on the outcome of a sport event through the Internet. Sport bettors are able to place their bets at any moment in time from any place.
Popular Sports to Bet on in Singapore
Online Casino Singapore offers wide range of sports to choose from. Below are the popular sports to bet on in Online Casino Singapore:
Soccer
Soccer Betting, more commonly known as football betting, is the most popular sports betting in Singapore. The number of people betting on soccer are higher than any other sports. Due to the popularity of soccer, sport bettors can make a lot of profit if they place bets on it. Sport bettors in Singapore usually choose to bet on FIFA World Cup, UEFA Champions League, Premier League and La Liga.
Tennis
Apart from soccer, tennis has grown to become the second most popular sports betting in Singapore. Beginners who want to place their first bets can start with the popular tennis tournament such as Wimbledon, Australian Open, French Open and the US Open. Tennis players like Rafael Nadal, Novak Djokovic and Roger Federer have been popular choices for winning money on tennis betting in recent years.
Basketball
Behind soccer betting and tennis betting on the popularity list comes basketball betting. National Basketball Association (NBA) is the most popular basketball tournament in the world. NBA has a lot of well-known teams (like Chicago Bulls, LA Lakers & Golden State Warriors) and professional players (like Michael Jordan, LeBron James & Stephen Curry). The majority of basketball bets come from NBA.
Other than these sports, Singaporeans also like to place bets on motor racing, horse racing, hockey, baseball, volleyball, snooker and cricket.
Types of Sports Betting Odds
Different online sportsbooks show different odds depending on the sport and location you bet on. If you want to make money betting on sports, you need to understand how to read and compare different types of betting odds.
American Odds
American odds (also referred to as “moneyline odds” or “US odds”) are popular in the United States but are rarely used in sports betting Singapore. These types of odds can be displayed as either positive (+) or negative (-) sign. These signs indicate:
- Positive Odds (+) = how much you would win if you placed a stake of $100
- Negative Odds (-) = how much you would have to stake to win $100
Fractional Odds
Fractional odds (also known as “UK odds”, “British odds”, or “Traditional odds”) are popular in United Kingdom and Ireland. Fractional odds are used regularly in horse racing. These odds are calculated in the form of a fraction so they will display as 10/1, 9/2, and so on. The number on the left (numerator) is how much you will win, while the number on the right (denominator) is how much you stake. For example, if you stake $5 at 2/1 you will win $10 ($5*2) and get your $5 stake back. Fractional odds are easy to calculate.
Decimal Odds
Decimal odds (also referred to as “European odds”) are popular in Europe, Canada and Australia. They are often used in sports betting Singapore. Decimal odds are the easiest format to understand. They can be calculated quickly and easily. You can calculate it with this simple formula:
Potential Payout = Stake x Decimal Odds
The breakeven for decimal odds is 2.0. Therefore if:
- Decimal odds below 2.0 = Potential return will be less than the amount staked
- Decimal odds higher than 2.0 = Potential payout will be greater than your stake
Tips for Betting on Sports
Here are some great sports betting tips that will help you make a more effective decision on sport betting.
Learn the Basics of Sports Betting
It’s so easy to get started with sport betting, but if you don't know anything about it, you are going to put your money at risk. Learning the basics before you start betting can help you make more informed betting decisions. If you’re new to the world of sport betting, learning the terms often used in sport betting can help you better understand the industry.
Research before Betting
Before betting on a sport player or team, it's important to do some research to make sure you have more chances to win money. These researches include the sports knowledge, team’s performances, recent sport news articles, betting strategies and others. Taking the time to do some research can give you an insight into the most probable result before you make your final decision.
Ignore Bias
People are always going to be subject to biases so they usually choose to place their bets on their favourite sport player or team. However, placing bets on biases without objective analysis can lead people away from the most accurate outcome predictions. So, try to think rationally and separate your bias from sport betting if you want to have better of chance of winning money.
Set a Budget
The problem with betting is that it can lead to financial loss of control. A good way to control money is to set a budget for how much you can lose before betting on a sport. This can give you a clear view of your finances so that you know when to stop.
Track Your Betting
You can track your betting by record keeping. Record keeping gives you a clear picture of your sport betting history. With recorded data, you are able to quickly view and analyse which bets you've won and lost in the past. This can help you to determine and improve your sports betting strategies in the future.
After reading this article, you know that Sports betting is the easiest way for every bettor in Singapore to get involved. Choose your favourite sport and place bets on 12play right now!