There are three primary types of odds which are fractional, decimal,  and American (moneyline). 
i.Fractional odds: This is a type of odd that most probably one comes across first while looking for betting odds. As the name suggests, these odds use a fractional format to show the possibility of an event taking place. This is a very quick, easy, and straightforward way to determine the winning amount of a bet and the possibility of an event happening. 
ii. Decimal odds: This is another popular format that utilizes decimal format for showing stakes. Mainly it is preferred for quickly showing the possibility of an event happening. The Decimal Odd is quite popular as a betting format as it is devoid of complicated mathematical formulae and gives a quick understanding of potential winnings. It follows the simple equation of ‘higher the number, the more the winnings’.
iii. American(moneyline) odds: Also known as American Money Line Odds/ money line/ US odds. As the name reveals, these odds are predominantly used in the US. As compared to the first two odds, ie. Fractional and Decimal odds are quite confusing and a little bit difficult to understand. But once you achieve command over it, you can reap all the benefits. 

Decoding The Probability:
After understanding the types of odds, one needs to move on to ascertain the implied probability within the odds. This is a very crucial aspect of odds as it helps you make informed and cautious betting decisions. Roughly, an Implied probability means the conversion of odds into a
percentage. This conversion represents the probability of a particular outcome as discerned by the bookmaker. Although Mahadev’s Book often puts emphasis on the need for the assessment of whether an implied probability aligns correctly with your own assessment of the event’s likely outcome.

Analysis of Odds Movement:
Odds are not static entities; they tend to change a lot due to several varying factors such as injuries, weather conditions, and betting patterns. All the betting newcomers are advised by Mahadevbook to give close and continuous attention to the movements of odds because these can provide some valuable insights into the current market conditions and can reveal potential opportunities. 

Financial Management:
The key to achieving success in online sports betting or any kind of betting for that matter is appropriate financial management. Mahadev Book Online always promotes responsible betting practices, giving utmost importance to keeping aside a sufficient amount of finances, placing stringent wagering limits, and avoiding chasing losses. These are some of the wise practices that protect a bettor against losses incurred through an unexpected betting outcome which is an undeniable possibility with any kind of betting.

Proper Use of Available Resources:
The current digital world offers a huge amount of very useful resources that are easily available and can prove to be quite useful to the bettors whether novice or seasoned ones, to make appropriate decisions to avoid losses. These available resources range from statistical databases and expert analyses to daily forecasts and betting forums. These resources are quite helpful and thus  Mahadev Book recommends utilizing these resources to their full capacity to enhance your understanding of the sports betting landscape. 

Conclusion:
Online sports betting is quite an interesting world that has glamour, thrill, adventure, and a lot of excitement but it is equally competitive and risk-oriented too. But you can easily tackle this by mastering the art of odds analysis as it is a proven fundamental skill and a key to betting success. Instead of getting scared of the odds,  breaking them down with the insights from Mahadev Book helps even novice bettors to easily navigate the intricacies of sports betting with confidence and precision. Anybody can be successful in betting if they practice patience, and persistence and keep a close eye on the constantly shifting dynamics of betting events and the relevant markets.
Remember, Though luck may play quite a significant role in getting a desired betting outcome; a few determining factors like informed decision-making ability and strategic thinking capacity are the cornerstones of sustained profitability that have a great influence over the outcomes in the realms of sports betting.