Horse Race Betting Odds Explained with virtual sports example
What are Horse Race Betting Odds in Virtual Sports explained – Know how Random Number Generator (RNG) systems work and which odds have high winning probability.
Horse race betting is one of the many entertaining virtual sports that you can wager on on sites like W88 Malaysia online. This virtual sport provides you with computerized horse races that you can be on to win big for low stakes. However, if you wish to learn how to bet on virtual horse races, the first thing you should know is how the horse race betting odds work in sportsbooks. In this article, we will explore every thing you need to know about horse race bet odds online.
Horse Race Betting odds explained – What are they and how do they work?
Let us jump straight to the topic and help you understand what is Horse race betting odds all about. To understand this, it is important for you to understand what are betting odds and why they are important in sportsbooks. Betting odds are found under every betting option in sportsbook, and these basically help you determine the potential winning payout amount based on the betting stake placed. Moreover, these can also help you determine which team, player, or in this case horse, is going to win based on higher or lower odds.
There are many different forms of betting odds, with the decimal odds being the most famous one used for horse race betting. So, overall horse race betting odds help you understand the potential payout returns and which horse is more likely to win in the sportsbook.
That being said, it is important to note that horse race betting is done virtually, which means that the horse races are computerized and results are generated randomly. This means that the betting odds for horse race virtual betting is slightly different from normal betting odds when it comes to what influences them.
What influences Horse Race betting odds in Virtual sportsbooks?
In continuation with what is said above, understanding horse race betting is extremely easy when it comes to the calculation, payout distribution, and knowing which horse is more likely to win using Tips and Tricks. But what differentiates horse race betting odds from normal sports horse is the way they are influenced. Virtual horse race odds are influenced and provided into sportsbooks heavily based on the RNG or Random Number Generator system.
The horses you see are given random probabilities of winning, and based on this probability, the RNG system assigns betting odds to each horse wherein the horse with the higher probability of winning gets lower betting odds and the horse with the lowest probability of winning gets the highest betting odds.
This way, the betting odds are shown in the sportsbooks for bettors to choose, and it works just like the lottery system. The visual of the horse races doesn’t really matter and only for entertainment purposes, but the RNG system determines the betting odds for the horses.
Real-match example of betting odds in Horse Race online
Let us now move on to the next section of this horse race betting odds explained article, and provide you with real match examples of how the betting odds work and determine which horse is more likely to win.
For this, we will use real match example of two horses from the same race in the W88 sportsbook. The odds are set to decimal odds which is the most popular odds format that uses the formula: Betting Odds x Betting Stakes = Potential Payout Returns.
Wagered on Horse with Low Odds
Wagered on Horse with High Odds
Betting odds: 1.65
Betting odds: 3.10
Betting stake: RM10
Betting stake: RM10
If the bet wins: RM16.50 is won
If the bet wins: RM31.00 is won
If the bet loses: Bet stake is lost
If the bet loses: Bet stake is lost
As you can see, the odds that are low tend to pay less whereas the odds that are higher tend to pay more thanks to the formula used. This is because lower odds are given to the horses with high chances of winning whereas higher odds are given to those horses with a lower chance of winning in the sportsbook. Since the risks on lower odds is less and that on higher odds is more, the former has less payout returns than the latter. This helps you determine which horse is more likely to win in sportsbooks for virtual horse race betting online.
3 Betting tips for wagering on Horse Race betting odds
In the final section of this horse race betting explained article, let us leave you with 3 helpful betting strategies that can get you to use the odds to your advantage. These are extremely beginner-friendly betting tips that beginners can use to boost their winning rate in virtual sportsbooks online.
Analyze previous data: Although horse race betting results are based on the RNG system, you can use the previous winning scoreboards to notice patterns and trends on horses that tend to win most of the time and wager on those horses.
Bet on low odds: It is best to wager on betting options that come with lower odds in the sportsbooks since the RNG system provides lower betting odds to the horses that have predetermined higher probability of winning.
Use betting systems: Horse race betting takes place at a quicker pace and wagering on the horse with low odds with bet systems like the D’Alembert method can easily help you double up your bankroll by the end of your gaming sessions.
Conclusion
This was the Horse Race Betting Odds Explained for beginners in simple terms and betting examples from the W88 Sportsbooks. Horse race betting is done virtually and is one of the few betting games allowed in Malaysia under government regulation using sites with foreign licenses. So, go ahead and join the W88 website to wager on horse races by placing accurate bets and winning more. For more such betting odds explanation, tips and tricks on how to win horse race betting online, and betting guides for beginners, keep visiting the W88.page website.
