In spread betting, the bookmaker sets a spread, which is the range of possible outcomes for a particular event. For example, in a soccer match, the bookmaker might set a spread of 2-3 goals, meaning that the bettor can place a bet on either team winning by a margin of 2-3 goals. For example, if a bettor places a $100 bet on a team to win, and the odds offered by the bookmaker are -110, the bettor would have to pay a vig of $10, in addition to their initial $100 stake. If the bettor wins, they would receive a payout of $190 ($100 stake + $90 profit), but if they lose, they would lose their entire $100 stake.
It is commonly believed that decimal odds are the simplest to understand and apply. To avoid this, you should understand the odds, be knowledgeable about the subject (a sport which you bet on), and avoid placing multiple stakes. Let’s take American odds coming in 100 with a “-” sign next to the number. To know what the chances are that the assumed outcome is going to happen, you should divide the odds by the sum of the negative odds and 100. Let’s take the decimal odds represented as the numbers divided with a comma. In order to know what the chances are that the assumed outcome is going to happen, you should divide “1” by the number.
Fight Outcome
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Wide Range of Sports & Leagues Available for Betting
Fractional odds, as you might expect, display with one number over another number. UK and Irish bookmakers favor this format, making it a common sight on soccer betting odds. As stated, a negative number means the bookie sees the outcome as more likely. The number gives you how much you would need to bet to win $100 in profit. Betting odds are a measure of how likely or unlikely a sportsbook finds an event to be.
Fractional odds are self-explanatory in that they display odds as a fraction. In terms of projected winnings, it is fairly simple to read odds – simply put, the number on the right of the fraction is what you’d need to stake in order to win the number on the left. Once you have the odds, you can calculate your potential returns using our betting calculator. Above, I mentioned the ways that odds can change for an event. For example, you’re interested in betting on the Eagles, but you saw news early in the week that quarterback Jalen Hurts was dealing with a hamstring injury. You’re not sure how this injury will manifest as the week goes on or if he’ll miss time.
The Patriots had an implied 57.4% chance to win, while the Rams had an implied 46.5% chance to win. Wondering how the total probability of a game between two teams adds up to 103.9%? Vegas makes this possible in order to collect a tax on each side of a wager known as “Vigorish”, which is another critical juncture of the sports betting industry. It is important to understand that vigorish does not always correspond with probability. When Vegas sets a line on a game or a total, they do so with the idea that the game or total has a 50/50 chance to land on either side of their number.
You can recognize the favorite by evaluating which of the fractional odds equates to less than 1. If the line for a Yankees vs Red Sox game is set at O/U 9.5 runs, you just need New York and Boston to combine for 10-plus to hit the over, as a 6-4 Yankees win gets you there. If you think both offenses will have a strong day, bet the over. If you’re projecting a pitcher’s duel, the under is a safe bet. This is because the bookmaker’s profit margin is included in the odds, which is why the house always wins. The odds on display never reflect the true probability or chance of an event occurring (or not occurring).
Odds and Line Movement
- If you’re looking to sign up for a new betting account, don’t forget to use the latest bet365 bonus code.
- Totals betting in college football focuses on the combined number of points scored by both of the two teams in a game.
- You’re never guaranteed a way to make certain profit, no matter how knowledgeable you may be about the subject – treat each bet as an assumed loss until you receive a payout.
- While arriving at your true odds can be very complicated, in any scenario you want the implied odds to be lower than the true odds.
- Betting odds are what bookmakers use to represent the likelihood of a particular event occurring.
You would type -110 in the American Odds section to see how much you’d win based on the amount wagered. If you believe the combined score for both teams will be 105 points or more, you would bet the OVER. If you think the combined score for both teams will be 104 points or less, you would bet the UNDER. You would win $13 against every $5 you wager on Brooklyn to be the champions. Meanwhile, you’d win $9 against each $2 you put at stake for Golden State to win, and for Milwaukee, you’d win $7 against each $1 bet. As of 2024, with other states either working on legislation or not considering it.
To work out your potential winnings, simply multiply your stake by the odds shown. For example, a bet that is offered at 5.00 means that you would win £5 if you bet £1. So, we’ve created a handy guide for any bettor needing betting odds explained to them, including how odds work, different types of odds offered and some useful odds-related terms. Easily convert betting odds with the three formats, Fractional, Decimal and American, and the implied probability of the odds. We cover various sports and betting markets, including football, golf, tennis, horse racing, American Football and more niche sports.
Understanding how to read odds can help you determine the potential payout of a bet, the expected value of a game, and the degree of risk involved in a particular wager. I will focus on American or moneyline odds since that is the format American sportsbooks regularly use. However, familiarity with the other types of betting odds is also important, so when you do come across them, you know how to read and interpret them. See how to convert each format of odds to an implied probability in the following section. American betting odds display with a plus or minus sign followed by a number.
