How Betting Odds Works in Rugby!
Betting or game of chances has existed for many and many years. Evidence is suggesting that even in ancient times, people would place a wager on various events. Some would win, some lose, but the house always wins, right? Well, anyway, sports betting has evolved into a big established industry with laws, principles, and many things.
Have you watched Peaky Blinders? Do you remember how the Shelby’s earned their money through bookmaking, i.e., keeping tracks of bets on their books? Then how the ever-cunning Thomas Shelby took over Billy Kimber and his race tracks. Sports like horse racing are mostly if not entirely based on betting. In association sports like football or rugby, there are other factors of income like sponsorship, merchandise, ticket selling, and so on.
Still, in these sports, too, betting is involved heavily. Betting is legal in many places within some terms; however, the sheer amount of betting and power of bettors has grown so much that other scandals and illegal events have risen from it. The likes of point-shaving (Carmine of Sopranos claimed to invent it, not the truth though), spot-fixing, match-fixing have come into motion because of betting. So, how does this betting works in rugby, mostly?
Guide to the Odds
We are going to give you a brief overview of understanding sports betting odds, and you will get to be smart on investing your money. There are many online betting sites like Bethard, which can be the right choice for you to start from.
Odds simply means the chance of a particular event happening, or a specific team winning versus another particular one. In sports, the odds are calculated using past data mostly. Data on previous results of teams, individual players, even weather, the field of play, etc. are taken into account.
There are different types of bets that go on around the world, and you can literally make a new type of betting on your own if you find another person betting against you with the same terms. However, legally, with the bookmakers, typically, you will discover fractional odds and odds-on in Action.
Fractional Odds works how
There is a different system of odds like decimal odds, money line odds, and fractional odds. Among these, fractional-odds is the one used by rugby bookmakers the most. You will see terms like 3/10, 1/5, 5/11, etc. The odds are different for the favor of the different teams. For example, let’s say Ulster is playing against Leinster.
Here, maybe the odds for Ulster will be 10/7. For Leinster, it might be 3/7. Of the odds, the right-side number indicates the money one will have to give up, and the left number is the profit if one’s betting team wins. So, let’s say you bet on Ulster, meaning you have given $7, and then if Ulster wins against Leinster, you will get $7+$10= $17.
Odds on vs. Odds against
This terminology merely means which team has the higher chance of winning a match. In the example of Ulster vs. Leinster, the chances of Leinster winning are pretty high, and it is rated as odds on. On the other hand, Ulster having a bad momentum and history against the Leinster, has the odds against it.
The Smart Way of Betting
So, now you can understand the fraction and odds of odds against terminology. You are ready to take baby steps in the betting world. For any amateur, it is better to start with the mere Moneyline bet. That is just selecting a team that you think might win and choosing a bookmaker offering the best fraction for you.
However, in this way, the chance of earning any significant money is low. So, after you understand the rhythm, tap into the handicap market. You will see lines like Leinster 18/20 to win with a 10-points handicap. This means if you bet along with this, Leinster will need to win the difference of 10 points at least, and you will earn $38 by investing 20. Start doing your research on each team, and you are ready to make a fortune.
