How Betting Odds Work? Explained

When you want to gain consistent profits from matched betting, accounting for the risk involved and mitigating it completely, you have to dig a bit deeper. You should be aware of all the possible numbers primarily, associated to the activity. This would certainly expand your knowledge about various aspects of the bets you have placed.

For example, you need to understand the finer elements of betting odds and how the numbers are relevant to the profits you can earn, and even increase in near future. With relevant information and practice, you would be able to establish yourself as a top-matched bettor.

What betting odds actually do?

There is a certain purpose for the number of betting odds. One of the main functions of betting odds is to know about the exact probability of a specific outcome. Moreover, you get a clear idea about the total amount of profits you are going to win when the best you have placed wins.

A simple mathematical explanation

Understanding the dynamics of betting odds with the help of simple mathematical demonstration would be immensely helpful as a guideline.

Suppose there are two outcomes of an event – A and B. When you see the odds to be A/B, you have to calculate the percentage of the outcome of any of the events.

It goes like this –

When the odds of an event occurring is A/B, the simple formula calculate the percentage is B / (A+B).

Place A = 3, and B = 2. The percentage becomes 40% when you apply the formula.

Related Guide: What Does Match Odds Mean?

Understanding betting odds with a wager

What if you want to know your win when you do the scrutiny of the same betting odds with a wager? In this case, we take the above example.

When you see that the betting odds are A/B, for betting every £1, there are chances winning an amount of £A…

Two types of betting odds

Broadly speaking, there are two main varieties of betting odds that the bookmakers usually promote to punters. One of them is fractional in nature and the other variety is in decimal form. The decimal form betting odds are displayed more on sites.

Are you wondering how you can calculate your winning from the betting odds in decimal style nature?

Winnings = (decimal odds X stake value) – stake value

A concrete example would make this clearer for you:

Odds of 8.0 with £20 stake: (8.0 x £20) - £20 = £140 profit earnings

Conversion of fractional odds into corresponding decimal odds

When you see fractional betting odds and want to convert those into decimal odds, you can apply a simple expression to perform the task fast.

Suppose the fractional betting odds you have = A/B

From this, you can easily calculate the decimal betting odds as = (A/B) + 1

For example; Fractional odds of 4/1 is 5.0 in decimals (4 ÷ 1 = 4) +1 = 5.0

Another example, 7/2 would be 4.50 (7 ÷ 2 = 3.5) + 1 = 4.50

After knowing these odds, it becomes more convenient for you to strategize for matched betting.

Related Guide: How to Convert Betting Odds?

What’s next?

You can always seek Free Matched Betting Service from Profit Squirrel in this domain in order to gather further information about the working of betting odds. New to Matched Betting? Try Profit Squirrel for FREE

Beginner's Guide: How to Start Matched Betting?

In need of more insights? Check out our YouTube Channel with over 131 FREE videos for even more guidance. 

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Jargon Glossary

Back bet = betting on something to happen

Lay bet = betting on something to not happen

Betting Exchange = somewhere you can place lay bets

Profit Squirrel = the home of matched betting

Matched Betting = continue reading below 😁

Fractional odds = odds as a fraction (e.g. 4/1)

Decimal odds = odds as a decimal (e.g. 5.0)

What Is Matched Betting?

Matched betting is one of the best ways to make money online. It’s a simple technique that allows individuals to earn a guaranteed profit from bookmaker free bets and promotions.

How does matched betting work? It involves betting on all outcomes of an event, removing the element of chance, whilst at the same time receiving free bets and other amazing promotions from the bookmakers. These free bets can then be converted to cash profit. The reason it is called ‘matched’ betting is because you are matching your bookmaker bet with an opposite bet on a betting exchange.

Matched betting has been around since the first betting exchange in 1999. Previously this technique was reserved for betting traders only, but thanks to Profit Squirrel and our simple to follow, step-by-step guides, we have made it easy for absolutely anyone to make money. Over 70 per cent of our members had never placed a bet in their lives before starting matched betting. We guide you through and support you every step of the way, starting with as little as £10 and making up to £1,000 from the bookmakers sign-up / welcome offers alone!

  • Do I need betting experience or sports knowledge?

    Nope! You don't need any knowledge of sports or betting to make money from matched betting. We have step-by-step, written and video instructions on all of the offers – you’re guaranteed to make money. The outcome of the event is irrelevant, so any prior knowledge or experience with sports is not needed.

    As previously mentioned, over 70 percent of our members had never placed a bet before starting with Profit Squirrel.

  • Is Matched Betting Legal?

    Sounds too good to be true, right? Matched betting is 100% legal. Profit Squirrel has been enjoyed by over 100,000 people in the UK and has national coverage in The Guardian & The Telegraph. We're simply taking advantage of bookmaker's generous free bet promotions.

    So long as bookmakers offer sign-up bonuses and ongoing free bets you will always make guaranteed profits with matched betting.

  • Does It Involve Gambling?

    Matched betting is not gambling. Despite having the word 'betting' in the name, as well as using betting platforms in our execution of the technique, there’s no gambling involved.

    Profit Squirrel teaches you exactly how to cover all outcomes so that no matter the result, you can profit from the free bets.

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A Brief History..
Frequently Asked Questions
  • Is Matched Betting available outside of the UK?

    Profit Squirrel is the best matched betting site focused on both United Kingdom and Republic of Ireland residents. It could well be that bookmaker's offer profitable free bet promotions in your country of residence, but they will likely vary from those listed on Profit Squirrel. The same principles still apply wherever you are in the world, but you will need to find the offers yourself.

  • Will it affect my credit rating and/or mortgage application?

    Using bookmakers will not affect your credit rating. Bookmakers only carry out a 'soft search' in order to verify that your registration details are correct. This will never impact your credit rating. Which makes sense as you are not applying for any kind of credit.

  • What if I already have some bookmaker accounts?

    Even if you have a handful of bookmaker accounts already, we have over 70 welcome offers alone, so there will still be plenty of profit on the table.

    We also show you how to make money from your existing accounts too. Sign up and start making money, today!

What is Profit Squirrel?

Profit Squirrel is the home of matched betting. We specialise in helping newbies learn & earn with matched betting, so that they can start profiting from Day 1.

We provide free video guides, software, and calculators. Making money online has never been easier. Profit Squirrel provide many support options, including, live chat (on the website), WhatsApp messenger, email support and a private Facebook community with over 30,000 fellow members.

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