Odds can often be confusing to players. Especially when American players make the switch to playing at crypto betting sites. This is because quite a lot are located in Europe or Curacao. It means that odds other than moneyline are sometimes on show. An example of this would be seeing 5 to 2 offered as odds for a bet.
Is it always Shown as 5 to 2?
No it’s not. Depending on the site that you’re playing at it may be shown as 5 to 2 or as 5/2. Most European sites will show the odds as 5/2. They are expressed as a fraction, which is why they’re more commonly known as fractional odds. Some US sites do express odds as fractions, but it’s mainly on racing sports such as horse racing.
What does it mean when 5 to 2 is Offered?
This can be a difficult concept to understand initially. However, when you’re playing with crypto it can sometimes make it harder to work out how much you will get back. This is due to the increased number of decimal places that are available when betting with crypto. However, before you are able to work out what your potential returns are, you need to understand how 5 to 2 works as odds.
5 to 2 as a Probability
All odds are basically showing a probability to the player. Although they are shown in different ways, the basic premise behind them is players are being informed of the chances of the bet winning.
It’s actually a lot simpler to work out what 5 to 2 is telling you than you might first think. The basic way to work it out is to add the two numbers together. In this case it would give you a total of 7. So, that means that there are 7 outcomes in this probability. If you’re betting on a soccer game, the 5 to 2 aspect of the bet means that 5 times the bet would lose and 2 times the bet would win. It’s important to remember that this is purely based on the stats that the sportsbook has available. So, there are other aspects that might be at play which allows you to grab additional value.
While they are usually based on stats and probability, there can also be outside factors that change odds. For example, if there has been a certain type of weather on a racetrack, then it may cause people to place bets on a specific horse. This would then cause the sportsbook to change their odds.
How does 5 to 2 Payout?
This is relatively simple to work out. Fractional odds return your stake when calculated the total payout. This is different to decimal odds, which are used to work out the total payout instantly.
So, if you wagered 0.02 BTC on a 5/2 bet, your return would be split into 2 parts to work it out. Your first step would be to look at the winnings. These would be 0.05 BTC in this case. As you will have wagered 0.02 BTC and get 0.05 BTC back. However, this wouldn’t be your total payout. Because fractional bets use your stake being returned as part of their calculations, it means that you would also get an extra 0.02 BTC back on top of that. So, your total return would be 0.07 BTC.
Is a 5 to 2 Bet Good Value?
It all depends on the bet that you have chosen. At first glance, a 5/2 bet wouldn’t offer good value to players. However, there’s a number of ways that value can be found on a bet like this. Looking at other factors that can come into play is one of the first ways that this is done. An earlier example we offered was weather conditions changing. If a horse that normally does very well in wet conditions is offered at 5/2, this might not be a good bet if the weather forecast is for it to be dry. However, if it unexpectedly starts to rain, then this may provide you with good value. Another example could be the favorite in an NBA game seeing their start player get injured in the warm up. This would be a good time to place a 5/2 bet on the underdog.
By keeping your eyes on what is happening around sporting events, you’ll be able to find the best value possible.
5 to 2 as Decimal and American Odds
5/2 would be expressed as 3.50 in decimal odds. This means that for every unit you wager, 3.5 units would be returned.
American odds would show 5/2 as 250. This means that for every 100 units you wager, 250 units are given back in profit, with 350 units returned in total.