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Throughout the history of human beings, exchange was key for the evolution of the human kind as a society. With the advancement of economical systems, investing and saving for a better future, entertainment made its way through society’s behaviors.

But it didn’t stop there, since the entertainment is meant to be a form of activity that holds the interest of people by providing pleasure and delight.It had to be close to every single individual in society: Sports. when householders think about new ideas, they about moving and changing their environments. Sports were the easiest solution for them to enjoy time with their families, burn time and energy.

And what better sport than Hockey? A sport played on a giant sheet of ice, players going on spins when they score and even their ability to control the game’s pace. It is a show that attracts more and more people by its diversity making it much more entertaining to watch. But in order to make it profitable, odds betting was the key to boosting the activity, not only does it motivate spectators to take attention, but it merges them in the game as if they were in the experience.

So how does it work? Sports betting can be defined as the process of predicting-the outcome-of a sport’s game and placing bets on the results. This activity might be legal or illegal depending on the state or the country, it’s legal when a bookmaker also called a sportsbook takes the bets, or illegal when private companies are taking the lead and collecting bets.

When it comes to odds betting, odds are represented by numbers, mostly used in the science of statistics and by the gambling community. In statistics, odds of give the exact image of what the results might become, if that event might take place or not.When it comes to the format of odds, it is evaluated depending on the number 100, if the result is higher than a 100 then it’s a positive and vice versa. But when it’s exactly a 100, it is judged to be even.

Expressing the odds can take different formats, the most common types are the decimal, the fractional, and the US method. As hockey odds explained, odds are probabilities of success or failure, that’s why it is common for odds to be over evaluated, thus giving a guarantee to bettors. Here’s a chart explaining the conversions between those methods:

  • Decimal
    • 1.5
    • 2.0
    • 2.5
    • 3.0
  • Fractional
    • Evs (1 on 1)
    • 6/4
    • 2/1
  • US
    • -200
    • 100
    • 150
    • 200
  • Implied probability
    • 1/ 1.5 = 67%
    • 1/ 2 = 50%
    • 1/ 2.5 = 40%
    • 1/ 3 = 33%

In order to bet on your beloved team, many choices are in place, most commonly money line method of betting, which replaces numbers by scores making it easier for spectators to process the information. Your choice must win the game, the game as an entity not the amount of scored goals. In National Hockey League odds, positive and negative results are assimilated to underdogs +160 and favorites -180. It’s as if the 100 is the average of other variations.

Example: If you want to bet a -180 favorite, you would $9 to win $5. On a +160 underdog, you would risk $5 to win $8if the underdog wins.