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Types of betting

Fixed odds

The most common way of betting is by fixed odds. This is where the bookmaker will offer you a price on an event and you choose how much you want to bet.

If you win, you get back your stake plus the winnings at the price that you were offered. The way to calculate your odds is to turn the fraction into a decimal and to multiply by your stake to calculate the winnings.

For example, odds of 5/2 will pay out 2.5 x your stake + your stake back. 10/1 odds will pay 10 x your stake + your stake back. 4/5 odds will pay 0.8 x your stake + your money back.

Decimal odds  

Fractional odds are the traditional way to represent odds. As well as this, some bookmakers prefer to use decimal odds. These make calculating your returns even simpler, as they tell you how much will be returned per unit (including the return of your stake).

As an example - suppose you got odds of 3.0. This means that if you win, your total return would be 3 x your stake back. This includes your original stake. This is the equivalent to 2/1 odds.

Similarly, if you got odds of 1.8 then if you win you would get 1.8 x your stake back.This includes your original stake.

To compare the prices of fractional odds with decimal, see the odds comparison table in the tools section of the site.

 

How to make money Making money by betting on sports is possible. By following the advice within our series of articles on "how to" you will give yourself the best possible chance of being successful, while avoiding some of the most common mistakes.  

Tools A good workman uses his tools!  We have developed a range of useful spreadsheets and other handy little tools designed specifically to help you in your betting.  All our tools are available at a minimal cost, all of which goes to helping support the site.  

Result CheckerThe most important tool for any gambler is a good way to keep accurate records of betting. Result Checker makes this easy to do, and for the cost of a couple of pints you can have a tool that we believe will be invaluable in saving you a fortune in time and money.

Free Money!! The best thing about the rise in internet gambling is the wide range of bookmakers who want your business, so much so that they are prepared to give you money to sign up!  Follow our Sports Alchemy guide to taking advantage of this generosity and let us show you how to collect free money that is out there waiting for you. 

CasinosOnline casinos are even more prevalent that bookmakers. Enjoy the fun and experience of playing in a casino, but with Sports Alchemy we will help you be successful, and avoid the many dangers of online casinos.  

Poker tools If you don't know who the mug is at the poker table then its you - get a helping hand for your poker hand with these tools.

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