American Odds or European Odds: Which Are Better?
By Space Coast Daily // May 3, 2022
If you are starting on sports betting or casino gambling, it is important to understand the odds and how to use them. Smartly placing a bet is important as it increases your chances of winning the stakes.
With the increase in betting sites, people are looking for ways to understand the odds and use them to increase their chances of winning the bets. There are different odds available that every bettor needs to understand how they work for you to place bets and win successfully.
Read through this article and understand the difference between the American odds and European odds. The article will also guide you to determine which odds are better between the American and the European odds.
How American Odds Work
American odds are also referred to as Moneyline odds. They are mostly used in the US and Canada by the sports bettor who considers them very effective. The American odds use either a plus or minus symbol to express the formula used to place a stake. The Moneyline odds use an expected value of $100 for every bet placed. It uses the favorites and the underdogs to describe the value of the stake.
For the favorite, you risk your stake to win $100, while with underdogs, you risk the $100 to win the stake. To easily understand the American odds, they are always converted into other odds like fractions or decimals, and it gives you the freedom to choose your preferred format when placing the bet.
The Moneyline odds are a bit complex as you need to look out for the other plus and minus symbols that are always attached to odd. The favorites always have a minus symbol, while the underdogs have a plus symbol.
How European Odds Works
The European odds are also referred to as decimal odds, and they are mostly used by betting lovers in Europe, Australia, and Canada. They are easy and simple to understand and use, making the betting fans use them more often to place the bets.
The decimal odds are easy and fast to calculate as you only need to take your stake and multiply by the odds, giving you the total of your payouts. You can use the odd decimal formula, your stake x odds, as a sports bettor to get your payout.
The decimal odds numbers represent the amount you will win for every $1 you stake. The decimal odds represent the total payout after winning the bet, meaning that it has the stake included, making it easy for you to calculate your total payout.
Why Are the European Odds Better?
Now that you understand how both the American and the European odds work, you might wonder which one is the best to use for placing your bets, especially if you are just starting to use the odds platforms. Although sports betting data feeds have got this covered by providing both, the European odds are popularly used by the sports bettor worldwide, and most of them agree that it is better than the American odds due to their simple-to-use nature. There are many reasons why the decimal odds are considered way better than the American odds.
They include:
■ Easy to understand
■ More betting options
■ Very easy to work out the returns
■ Simple to use and calculate your stake
■ Understand the Odds Before Placing the Bet
If you consider becoming a sports bettor, you need to understand and interpret the different types of odds with ease. To get the best results, you need to familiarize yourself with conversions between the different formats of odds and the conversion of odds that apply probabilities.
Understanding the difference between the American odds and the European odds will place you in a better place to place a well-calculated bet and increase your chances of winning the stakes.
