The world of betting is a pretty interesting one. Have you been there?
If not, let me take you!
Betting and Gambling has been with us ever since the inception of modern civilization. Our interest in sports and betting has only increased with time. The dopamine release that we feel while betting or gambling keeps us asking for more. Some say it is bad for us, I say it is good. But (and this is a big But), it can turn a bit intimidating if one does not have control over oneself. If you do it thoughtfully, betting and gambling is a great way to spend some exciting time and win a great fortune. It is not just based on luck, it is a carefully strategized technique which only pros know how to execute.
In the content that follows, I will tell you one of the most important aspects of online betting and make you understand the game of live betting odds at Livebid.
But first, why online betting?
The greatest revolution of the 21st century is undoubtedly the internet revolution. With the people more connected to each other than ever before and the internet speed faster than ever before, the world is slowly shifting to the World Wide Web. Everything is not making an online existence and the internet is making everything accessible to everyone. The betting industry has also seen a major online development. Online betting and sportsbooks are a major thing now, which is accessible to anyone anywhere in the world.
Many mainstream companies saw the potential and have stepped into the field of online betting and gambling. The competition has raised a lot due to this and so has the technologies behind the platforms. The online sportsbook designs are better than ever before, and companies now offer smooth user experience with unparalleled customer service. Surely a lot of things have changed, but one thing that still remains the same is the basic principle of betting.
Betting involves 3 basic things, Betting parties, the Game and the probability of winning/losing. There are usually 2 or more betting parties involved in a game. The betting parties can either bet against each other on with each other and against a bookmaker. A bookmaker is a person or a platform that acts as an exchange medium between the betting parties. The game can be any competitive activity that ends with a person or a team winning/losing. The probability of winning/losing is called the betting odds. The parties place bets on the probability of winning/losing against the bookmaker and the bookmaker rewards the party that bets on the obtained outcome of the game.
Traditionally, a bookmaker used to be a person (bookie) or a firm consisting of a group of bookies (bookie firm), but as betting has now shifted online, the online bookie firms or live betting websites are called as sportsbooks. Online sports betting is majorly conducted by online sportsbooks and a lot of such kind of sportsbooks are there in the market as of now. One of the best sportsbooks in the present time is Livebid. It is an online betting platform that allows you to bet on some of the most popular sports, casino games and QT games in the world. Created and managed by some of the best people in the business, Livebid sportsbook has brought up a revolution in the online betting industry. It presents a clear picture of everything related to betting and has compiled it all up in a smooth and crisp user interface. But what makes it the best online sportsbook is its perfect programming for all the 3 basic aspects of betting.
Betting odds are everything in betting. They decide which player will bet on what and what outcome will come at the end. Odds are simple the probability of winning/losing or more specifically the probability of the happening of an event. Parties place bets against the bookmaker for the probabilistic outcome of an event, and the actual outcome decides the winning party.
Betting odds follow some general representations. They can be represented as American odds (represented as whole numbers with a +ive or -ive sign in front of them), fractional odds (represented as fractions of probability) and decimal odds (represented as percentage probabilities in decimal notations). Out of the above 3, decimal odds are the best-accepted representation for online bookmakers and Livebid also used the decimal odds for all its games.
Decimal odds is the simplest representation of betting odds and this is the reason it is used everywhere in online bookmakers. To understand decimal odds, consider an example.
Suppose the probability of winning of a team in football is 50%. Then the betting odds of the winning in decimal representation would be:
Decimal odds = Total %/Probability %
So the decimal odds of this example would be 100%/50% = 2.0
This means that for every 1 dollar you bet on this odd, you will win 2 dollars.
Similarly, it the probability of losing of a team in cricket is 75%, then the betting odds of this team losing in decimal odds would be 100/75 = 1.34
So, if you bet 100 rupees on this odd, you will win 134 rupees if the team loses.
Simple, Isn’t it.
Yes! Betting is this simple on Livebid.
One question might arise into your mind, that how does the website know what is the probability of winning or losing of a team and who decides the betting odds of a particular event? Let me tell you about this also.
Betting odds are directly decided by the bookmaker and indirectly derived from the conditions of the game. The bookmaker has to make money amidst the exchange of bets. So he needs to change the odds to winning or losing so that he can make sure that his commission is always saved. And the bookmaker changes the odds according to the situation of the game. Suppose a football team is leading 2-0 at the half time whistle, its odds of game winning would be greater, and the odds of the other team winning would be very less. The bookmaker will adjust the odds such that when the outcome finally arrives, he does not have to pay everything to its betters.
This might be a bit intimidating for you. But trust me, you will be able to understand everything when you will experience everything by yourself.
Livebid sportsbook being one of the best online platforms for sports and casino betting is the perfect website to start from. It offers a number of sports to bet on including Soccer, Cricket, Tennis and Horse Racing. It also offers you to bet on a wide range of casino and QTgames including Live Baccarat, Live Teen Patti, Dragon Tiger, Andar- bahar, Poker, 7Up-7Down, Bubble Bubble, Panda Magic, 20 Teen Patti, 1Day Teen Patti, slot games and many more.
Livebid sportsbook also offers a smooth and safe payment experience. It accepts all the most popular, accessible and safe modes of payment including bank options like Visa card, Master card, NEFT and IMPS, UPI transactions like Google Pay, PhonePe and BHIM UPI, online wallets like Paytm, Skrill and Neteller and even cryptocurrencies like Bitcoin etc. It also offers 24x7 customer service and instant chat support for any time when you face any kind of issue with your experience.
Now that you know everything about betting odds at Livebid sportsbook, you will be able to step your feet into the world of online betting without any confusions. Just sign up on Livebid, put in the details and start betting.
Lastly, I just want to add that online betting and gambling can be addictive if not limited properly. It is highly recommended to seek proper guidance and know your limits before starting to bet online. If played with proper care, online betting can make you really sharp and win a lot of money. Sign Up Today for Live Betting Odds.