What Makes A Statistical Boxing Bettor And Could You Become One

Bettors typically wager using two distinct styles. The first group bets based on intuition, recognizing something in a fighter’s look that leads them to believe that they will win. Intuitive bettors rely on gut feel in their betting.

Statistical bettors on the other hand, prefer data to make informed bets. They study the odds, understand weight classes and get to know boxing stances and styles. This information gives them a broader perspective of bouts and possible outcomes.

Modern bettors have been spoilt for choice when it comes to placing sporting bets. Betting shops and bookmakers have moved online, providing site visitors with well-presented fight odds and background information.

Online sportsbooks have made bet placement as hassle-free as possible, by incorporating cryptocurrencies into their offering. Platforms such as cryptobetting.ltd, help bettors find trustworthy crypto sportsbooks.

Read on to improve your betting knowledge.

Getting To Know The Odds

Odds are a critical component of sports bets and wagers. They typically represent the probablity of a certain event happening.

Odds are not randomly assigned, traders or odds compilers use historical data and current statistics to assign probabilities to fights. 

Pro Tip: Shrewd statistical bettors will recognize when odds might be improved upon. The underlying volatility of cryptocurrencies could be of benefit. Undervalued crypto such as Altcoins could be used on a bet, Altcoins are any cryptocurrency other than Bitcoin. In the event of a win, the bettor would cash in on the bet and gain from any future rise in cryptocurrency value.

Types Of Odds Available To You

Statistical bettors will need to know how to interpret odds in a variety of formats, to make the most of their crypto bet.

The three main formats are American odds, Decimal and Fractional.

American Odds

American odds also known as Moneyline odds focus on how much return a bettor will make from wagering $ 100.00 (or crypto equivalent) on the underdog, and how much the bettor will need to spend to earn a $ 100.00 on the favorite.

Moneyline odds use plus (underdog) and minus (favorite) symbols.

The fight taking place in November of this year, between Mike Tyson and Jake Paul would read as follows:

Mike Tyson +200, Jake Paul -275. Despite Mike Tyson’s career and titles, odds compilers peg him to be the underdog.

A $ 100.00 bet on Mike Tyson, would earn you $ 200.00 in case of a win ($ 300.00 in total including your initial $ 100.00 wager).

A win by Jake Paul, would require you to bet $ 275.00 to win $ 100.00. That means your $ 100.00 bet would earn you roughly $ 36.00 for a Paul win ($ 136.00 including your initial bet).

Pro Tip: 

Even though American odds use a $ 100.00 benchmark, the same ratios can be applied to smaller bets. You can place smaller or larger amounts using American odds.

Decimal Odds 

Decimal odds are widely used, as the final figure includes the initial bet and any profit. This allows bettors to interpret winnings easier, without the need to add the initial wager back in.

Decimal odds are based on the total return on $ 1.00 or 1 Crypto Token spent. Odds for the Tyson v. Paul fight would look as follows in decimal format:

Mike Tyson 3.0 and Jake Paul 1.36. In decimal odds the lower number (1.36) represents the favorite and the higher number (3.0) the underdog.

A $ 100.00 bet on Mike Tyson would earn you $100.00 x 3.0 = $ 300.00 (including your initial bet). And a win by Jake Paul would earn you $ 100.00 x 1.36 = $ 136.00 (including your initial bet).

Pro Tip:

• Decimal odds are also known as European odds, digital odds or continental odds and are widely used in Europe, New Zealand, Australia and Canada. 
• Further reading on betting odds will improve your knowledge. Take a piece of paper and a pen to work through your own examples, or use an online converter to do the work for you.

Fractional Odds

Fractional odds are used predominantly in Great Britain, and are therefore known as British odds, U.K. odds or traditional odds.

Fractional odds are listed and read as (potential winning)/(stake). Using the Tyson v. Paul example above, the odds would be 2/1 for Tyson and 0.36/1 for Paul.

Pro Tip: Similar to American odds, fractional odds users will have to add the original bet back in for a total. $ 100.00 would earn you $ 200.00 for a Tyson win ($ 300.00 including your initial bet) and $ 36.00 for a Paul win ($ 136.00 in total).

The Kinds Of Bets On Boxing

Boxing fans can wager on a variety of possible outcomes.

Straight bets or single bets, are the easiest to understand. Use the odds format of choice and decide on who you think will win the fight. Tyson or Fury.

Prop bets (proposition bets), are often unrelated to the final outcome of the bout. Prop bets can be placed on any part of the fight. For example: who lands the first punch, how many rounds will the bout last, how many punches will be thrown in total. You can place as many prop bets as you like, one negative outcome will not necessarily affect the other bets.

Parlay bets or combo bets, are similar to prop bets in that bettors can wager on a variety of possible outcomes. The only difference is that all of the outcomes have to hit, for a bettor to win. The upside is that winnings are multiplied, resulting in large possible returns. The downside is that a single lost bet, invalidates the others, resulting in a complete loss.