By knowing the baseball Bitcoin betting odds for most of the sportsbook market, punters can get the most out of their wagers. Knowing these odds can help any punter to get the most out of any baseball Bitcoin betting sportsbook.
Being familiar with the baseball Bitcoin betting odds comes down to breaking apart the numbers set for each wager. Doing so will give the payout rate as well as the chance of it to win.
American odds format
There is two basic baseball Bitcoin betting odds format that most sportsbooks use. You have your American odds which are common in Baseball games. The other is the decimal odds which you will often find in Europe.
The American baseball Bitcoin betting odds revolves around a $100 profit as well as the underdog and favored the team. Favored team will have a negative sign to its odds while the underdog has a positive. If the Bitcoin sports betting odds are -130 for the favored and +120 for the underdog, for example, you will need to bet $130 to win $100 when you back the favored team. Backing the underdog only require $100 to win $120. This setup makes it easier for you to know how much you will profit.
The other baseball Bitcoin betting odds format is the decimal. In this format, the favored team will always have a lower number than the underdog. One example is where the favored team has 1.90 odds of winning and the other has 3.40.
To know how much you can profit out of this baseball Bitcoin betting odds format is to use this formula.
(Bet amount x odds) – Bet amount = profit
If you wager $5 for the favored team to win with 1.90 odds, for example, you will get $9.5 if the team wins. If you take away the betting amount from the payout, you profited about $4.5 from your bet.
The best thing about the decimal odds is how you can use this for any kind of wagers outside of the match between two baseball teams. A Bitcoin sportsbook will have certain prop bets that use decimal odds. These prop bets are interesting wagers that can make any point of a baseball match exciting. Some bets include the first team to score a home run or which player will get the most bases. Thanks to the decimal format, you can see which bets have a good chance of winning and which can give you a nice profit.