Sports betting is a form of ‘gambling’ where the individual bettor places bets on sports events. One of the attractions of sports betting – a sports bettor can, with work, better predict the outcome of an event – than other games of chance. This article will explore UFC betting and explain how to interpret the different types of UFC betting odds work. Read on if you are interested in becoming a UFC sports bettor pro!
UFC Betting: An Introduction To The UFC
Before we can give any explanation of how UFC betting and UFC betting odds work, we must first look at what the UFC is. Let’s do just this. To begin, the ‘Ultimate Fighter Championship’ is, according to Wikipedia, a mixed martial art ‘promotions company’ based in Las Vegas, Nevada. Furthermore, according to Wikipedia, the UFC boasts 12 weight divisions and is the largest mixed martial arts event promoter in the world.
UFC Sports Betting (Online)
To better understand how to bet on UFC fights it is not only imperative to know where to find the appropriate sports books – but how UFC sports betting works. Let us begin with the latter. Like many other types of sports betting, sports books for the UFC can utilize different types of betting odds. Let us take a look at them now, starting with –
American Betting Odds (UFC)
FIGHTER 1 ODD1/ODD2 FIGHTER 2
When it comes to American UFC betting odds, your appropriate sports book will list each fighter next to their opponent. Following this, you will see ‘odd1’ and ‘odd2’. What is important to note is that any odds represented with a positive value show you how much you will win if you bet $100 on the underdog. onversely, any odds that are in the negative show you how much you must bet to win $100.
In this example, you would have to bet $220 on the favored fighter to win $100, and $100 would win you $120 when bet on the underdog. A lot simpler than it looked at first – I’m sure. Let us now take a look at the next type of UFC betting odds. At this point it is important to note a simple calculation to convert these American odds to decimal odds can be found on Online Sports Betting.
Decimal Betting Odds
With decimal betting odds we consider two main factors – your stake and the odds the current book places on the fighter according to Online Sports Betting – here is a good formula to calculate and understand Decimal Betting Odds:
“Decimal odds are your odds multiplied by your stake, then subtract your stake.”
7.0 odds would be calculated as (7.0 * $10) – $10 = $60 in winnings
1.25 would be (1.25 * $10) = $10 =$12.25-$10= $2.50
Furthermore, to arrive at an estimation for the chances of winning you simply invert your decimal odds. So, for example:
7.0=1/7=14%(0.14) chance of winning.
Fractional UFC Betting Odds
The last type of UFC betting odds we will discuss in this post is: ‘Fractional Betting Odds.’ According to Online Sports Betting – fractional betting odds are quite simple to calculate and understand. Below is a general formula for them:
“B/(A+B) = c%” – where c% is the fighter’s percentage chance to win the fight, according to the given ‘Fractional odds’.”
What is worth noting here – is that if a fighter has an 8/1 fractional odds of winning – it does not mean that the fighter is favored, indeed – what this means is we derive this equation from above: 1[B]/(8[A]+1[B])=1/9=11%. So per these odds, the fighter has an 11% chance of winning. If the odds were the opposite way around the fighter would have an 89% chance of winning – 1/8 fractional odds that is.
Well, that’s all for today’s post. I hope it has been helpful. Please read the following post – Sports Betting Taxes Guide: An Explanation Of Sports Betting Gambling Taxes In The US