Kenyan Betting Odds Explained
Betting odds are the most important element of sports betting but they are also the part that is the most misunderstood, especially when faced with a number of different sites in Kenya that present their odds in different ways!
We’re here to guide you through everything you need to know about sports betting odds, including how odds are calculated, what the different types of odds are and of course the betting sites with the best odds in Kenya!
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How are Betting Odds Calculated?
Knowing how betting sites come up with odds and why betting odds change is an important part of gambling because it’s the first step in working out what you want to bet on.
Bookmakers base their odds primarily on the probability of a particular outcome happening in a sporting event, helped by as many sporting statistics as they can get their hands on! However, the bookies also want to create prices that are good enough to tempt people to bet on them while at the same time taking into account the prices their competitors are offering.
Different Types of Betting Odds
There are three main ways that betting sites present their odds and depending on which site you visit, the default format may be different. For example, sites such as 1xBet & dafabet present their odds in decimal format, while William Hill & Unibet prefer fractions.
We’ll take you through all of the different types of betting odds below, but the important thing to remember is that with almost every betting site nowadays you can choose the way in which you want to see your odds by clicking on “odds format” directly on the home page or through the settings page.
So let’s take a quick look at each of the three main types in turn.
Fractional
Fractional odds are usually presented as two numbers with / in the middle, such as 2/1, 1/4 and 17/2. When it comes to working out your returns, if the price is 4/1, 5/1, 10/1, 20/1 etc it’s a simple case of multiplying your stake by whatever the left-hand number is.
For example, if you bet £1 at odds of 5/1 and it’s a winner, you will have £5 profit because that is 1 multiplied by 5. Or if you bet £10 at 10/1 the profit will be £100 because that’s 10 multiplied by 10.
If the right-hand number is larger than one, or the left-hand number is larger than the right-hand one then things get a bit more complicated, but don’t worry because every betting site will calculate your potential winnings for you on your bet slip.
And for more complicated bets we’d recommend using an odds calculator such as the one at William Hill to do the hard work for you!
You also need to remember that if you win a bet your original stake will also be returned to you, so going back to our previous £1 bet at 5/1, the total amount you get back will be £6 – £5 profit plus your £5 stake.
Decimal
Decimal odds are much easier to calculate than fractional ones and another significant advantage is that you can immediately see which prices are higher and lower, which is not always the case when you’re faced with comparing fractional prices such as 4/7 and 8/13!
Calculating your winnings is also far easier as you simply need to multiply your stake by the number which has been given to work out your winnings. If the odds are 1.50 for example, and you’re betting £20, you will get £30 back (20 x 1.5). And if the odds are 2.50 and you’re betting £10, your return will be £25 (10 x 2.5).
American
American odds are written with a minus or plus symbol, followed by a number. Favourites are given a minus (e.g. -100), and underdogs are given a plus (e.g. +100).
For a favourite, the number you’re shown is the amount you must wager to win $100 (or whichever currency you’re betting with). With a -250 favourite, for example, you must bet $250 to make a $100 profit. For an underdog, you’re shown the amount you’d win by staking $100. At +400, for example, you’d make a $400 profit from a $100 stake.
Compared to fractional, American odds give you a quicker idea of underdogs, favourites, and the extent to which the bookie does or doesn’t like them. However, when it comes to actually calculating profits they are slightly trickier to use than decimal odds, so once again we’d recommend an odds calculator.
Understanding Betting Odds
Knowing how to calculate betting odds is really important when you’re betting online, and the key information you want to work out is how likely the bookmakers think a certain outcome is.
When it comes to fractional odds, if the right-hand number is larger than the left-hand one, such as 1/5, then the bet is considered to be “odds-on”, meaning that the bookies think this particular outcome is the most likely one. However, if the left-hand number is larger, such as 2/1, then the team, individual or horse are considered to have less chance of winning.
With decimal odds, it’s far easier as the higher the number, the less chance the bookies give the outcome of happening, but the higher the profits. And when it comes to American odds, the favourites will have a – before the number while the underdogs will have a +.
Betting Strategies
Now you understand sports betting odds, it’s important to talk about certain tactics you can use to try and beat the bookies!
Some people are big fans of small odds betting, which is consistently backing odds-on shots because they have a greater chance of winning. To make a good profit you have to put more money on it because of the small odds, but you have a greater chance of success because the outcome is considered to be the most likely one.
However, on the opposite side of the coin, you have the people who just love backing the underdog because the larger prices mean that you only have to wager a small amount of money to make some nice profits.
As long as you understand betting odds those tactics are fine, but it’s also crucial to come to your own conclusions about what you think will happen and use all the information available to you to make “value bets”.
For instance, if you’re betting on football, there are a number of sites with all the statistics you could possibly need to make a value bet, which is basically betting on an outcome at a price you think the bookies have set too high. This could be a favourite that you think should be a lower price or an underdog priced far too generously!
Don’t be afraid to trust your own judgement if you think a price is too low or high because it’s absolutely fine to disagree with the odds that have been set by the bookmakers, as long as you have a good reason to.
Where to Find the Best Sports Betting Odds
When deciding which bookie to sign up with, the quality of each brand’s betting odds should be a major factor. If the prices you’re being offered are unfairly low, then there will always be a cap on your potential profits. Below, you can find out exactly where to find the best sports betting odds on all the biggest markets in Kenya.
Basketball Betting Odds
The popularity of basketball has grown enormously in Kenya over the past few years, whether it’s watching stars such as LeBron James and Giannis Antetokounmpo on TV or just playing with friends.
Of the many leagues around the world, the NBA is the undisputed champ when it comes to both entertainment and betting options, and 888sport always provide some excellent basketball betting odds, as well as some generous basketball-specific promotions for existing customers.
Tennis Betting Odds
With tour events throughout the year for both men and women, plus the excitement of Wimbledon, the US Open, French Open and Australian Open, tennis is a great sport to bet on. And for the best tennis betting odds, we reckon Unibet is the place to go.
Betting Odds Explained – Final Thoughts
Understanding betting odds is not only one of the most important ways to make money over the long term, but it is key to making sure you enjoy having a bet, which is a part of gambling that should never be forgotten!
After reading this article explaining sports betting odds you should have a good idea of how betting odds work and where you can find the best ones. Picking one of our recommended brands also ensures you get highly competitive prices on your favourite sports at an online bookmaker you know you can trust.
Good luck!
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FAQ
How do betting odds work?
They are calculated using a combination of factors. Sheer probability is the main one, but driving betting action and competitors’ odds are also important.
Why do betting odds change?
Sometimes, bookies will change their odds if they differ significantly from those on other sportsbooks. More often, it is done to drive more action on a market, or even a specific outcome within that market.
Do I need to use a betting odds calculator?
Yes - your chances of making a mistake are significantly reduced when using a calculator. Every sportsbook will provide a basic one for you within your betslip, but you can find more powerful calculators for free online.
Where can I get the best betting odds?
It varies from sport to sport. Check out our ‘Where to Find the Best Sports Betting Odds’ section, above, to discover which brand provides the best prices on your chosen sports.
What are the different types of odds?
There are three main types: fractional, decimal, and American. Fractional is the most popular on British sportsbooks, decimal odds are used more frequently worldwide, and American odds - as the name suggests - are used almost exclusively by brands in the USA.
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