Odds Explained In Betting

Did you know that many online sportsbooks also let you bet on political elections? That’s right, you can go to the sportsbook section of a wagering site for 2016 presidential election odds. If you have ever bet on sports, wagering on politics works much the same way. Each line is for a separate category, i.e. republican candidates, democratic candidates, who will be elected president, etc. Clicking on any particular candidate will bring up a wagering calculator, which lets you type in the amount of money you want put down, and it calculates the payout amount. This page will explain the various types of odds, how to read them, and what they mean. It will also tell you all about underdogs and favorites. Finally, this page will give you some recommendations for some top-quality online sportsbooks that let you bet on politics.

1. Odds Explained In Betting Sites

Betting odds represent the probability of an event to happen and therefore enable you to work out how much money you will win if your bet wins. As an example, with odds of 4/1, for every £1 you bet, you will win £4. There is a 20% chance of this happening, calculated by 1 / (4 + 1) = 0.20. Sports betting lines on FanDuel Sportsbook are presented in what is called the 'American odds' format, with odds for favorites getting 'minus' odds while underdogs get 'plus' odds (i.e.120 for a favorite and +120 for an underdog). For the favorites, that line reflects how much you would need to wager to win a $100 payout.

Different Types Of Odds

There are three types of odds that most sportsbooks use. The most common type is the moneyline. This is also known as American odds because it is the kind most commonly used by American players. It is an example of regular odds, as opposed to exotic odds. You will see American odds displayed as a name with a number next to it with either a plus or a minus. The minus corresponds to the favorite, and the plus represents the underdog. The favorite is most likely to win. The next type is fractional odds, which are more commonly used in Europe. A more rare type is decimal odds. They show you what your total payout will be. It takes a little bit of mathematical calculation to convert fractions into decimals. Both fractional and decimal odds fit into the category of exotic odds.

How Do I Read The Odds?

Americans who bet on politics most likely will be using the moneyline, or American odds. If you look at the numbers, the minus symbol means the candidate is the favorite, and will most likely win. The plus symbol means the candidate is the underdog. When you are looking at the favorite, say a candidate’s odds are -150. What this means is you will win $100 for every $150 you bet. For the underdog, if the odds are +150, it means for every $100 you bet, you will win $150. Fractional odds are also pretty easy to read. The first number is the amount you stand to win, and the second number is the stake. So if the odds are 6/1, it means you will win $600 if you bet $100, for a grand total of $700. Simple enough, right?

What Do The Odds Mean?

Betting on the favorite means you are more likely to win, but your payout will be smaller. Betting on the underdog produces a much higher payout, but your chances of winning are smaller. One thing to keep in mind is that the negative and the positive numbers correspond to the opposite of what you would think. The favorite has a negative number, and the underdog has a positive number. Also, the higher the number for the favorite, the more likely they are to win, and the lower the payout will be. For the underdog, the higher the number, the less likely they are to win and the higher the payout will be. If you aren’t completely sure about the exact ratios, you can always use the odds calculator provided by the site.

Underdog Versus Favorite

When betting on politics (or anything, for that matter), you have to understand the concept of underdogs and favorites. The oddsmaker spends days, weeks, months even, looking at the statistics and calculating the odds. If you are absolutely sure that the favorite will win, it makes sense to bet on them even if the payout is meager. However, the underdog might just surprise everyone and come out ahead. If this happens, you stand to win much more money. Like anything having to do with wagering, you just have to weigh your options and make a smart decision.

Bovada Sportsbook

Of all the online sportsbooks that let you bet on political races, Bovada is one of the best. Their sportsbook is very easy to use, with odds that are spot-on. Joining Bovada takes just a few minutes of your time, but if you want to take a tour of the site and see what it is like, you can. You can visit Bovada’s sportsbook to see the odds, or you can try out various wager combinations using their betting calculator. You just click on a particular candidate and type in some numbers. It’s that simple.

Once you’ve decided to sign up with Bovada, you can start betting. To get you started, Bovada offers a welcome bonus of 50 percent on all first deposits not exceeding $250. To get your bonus, send in the correct promotional code to the site. Also, you have to spend five times the amount of the bonus before you can use it. This is what’s known as a rollover requirement. All sportsbooks that offer bonuses have rollovers, but Bovada’s is less than most others. It may seem unnecessary, but if rollovers didn’t exist, too many people would use the bonus money and never wager at the site ever again. It’s just a way for Bovada to protect itself from swindlers. Join Bovada NOW!

5Dimes Sportsbook

5Dimes is an online betting site that lets you wager on all kinds of things, including politics. The upcoming presidential race is sure to be a heated one, with Democratic and Republican candidates working hard to win your vote. The great thing about betting on the presidential election is that the odds could change any second. There are many factors that go into predicting the winner, and 5Dimes’ odds-makers have spent months researching the candidates. Their picks are sure to bet accurate and on-target.

Odds Explained In Betting Sites

Betting on politics at 5Dimes is a lot fun. The site has gone out of their way to include some great special features that will make your wagering experience more enjoyable. For example, they have one of the best bonuses in the industry. It’s called reduced juice, and it saves you fifty percent on the interest of every bet you make. Reduced juice works on every wager you make, and you don’t have to worry about any annoying rollover requirements. All you have to do is send the reduced juice promo code to 5Dimes and you are ready to go. So don’t wait until it’s too late. Join 5Dimes now and get in the game! Join 5Dimes NOW!