Different Kinds of Odds in Online Gambling

Sometimes odds can seem fairly straightforward. If a coin is flipped, it has a 1:1 chance or even odds of landing on either side. Other odds can have individuals confused as to how they were possibly calculated. Because odds are such an important part of online gambling, it's vital that players know what sort of odds they are dealing with.

Why Odds are Important

Casinos have to explain what the potential winnings are for each and every game. If a player puts $10 on the line, they want to know how much they will get back if they win the game. Most online casinos will display these on the same page as the game, allowing players to make the most educated decisions about how much they are willing to risk. Other online casinos will have a single page defining the odds for all of their games. Players should always consult the odds tables before putting any money on the line.

Different Odds Intervention Systems

Casinos usually use a singular way of defining and displaying the odds of their games. They can choose to express them in fractions or decimals. If a game has odds of 1/5, $10 can potentially win the player $50, plus the original $10 that he or she wagered. If the odds are expressed as 4/5, the player can win $8 on every $10, so the player walks away with $18. Decimal odds systems simplify by expressing the 1/5 odds as 6. Players then merely have to multiply their bet by the odds and that's how much they walk away with.

Understanding the kinds of odds in online gambling can take a bit of practice. Players should be careful, then, to make sure they are getting what they pay for.