Reading betting odds can be tricky if you have never played a wager, so we have a complete guide on how to read Betting Odds. The odds will look different depending on where you live, so we factor in American, fractional, and decimal odds.
Odds often look as follows:
+ Golden State Warriors -160
+ New York Knicks +150
What do those numbers mean? Bettors need to invest $160 in the Golden State Warriors to make a $100 profit. Every bet placed with a favorite using American odds is to win $100.
It’s a straightforward concept, but it appears confusing at face value. Betting underdogs is a different concept.
Bettors make $150 when betting $100 on the New York Knicks. If it’s a bigger underdog in the range of +1000, you’re getting odds of 10/1 or $11 decimal currency.
When reading guides on how to read betting odds, it pays to learn about American odds. They dominate TV broadcasts for sports such as NFL, NBA, and MLB, so understanding what the numbers mean is important for bettors.
Always remember the rule: when betting favorites, the number is how much you need to bet to make $100 profit. When betting underdogs, a $100 bet sees a profit of the number displayed on the odds board.
We wish decimal odds would be a universally-used odds system. Bettors in Australia, New Zealand, and some European countries know what we mean.
A decimal odds betting market looks as follows:
+ Kansas City Chiefs $1.70
+ New England Patriots $2.10
Betting $100 on the Kansas City Chiefs sees a return of $170 for a profit of $70. Betting $100 on the New England Patriots sees a return of $210 and a profit of $110.
It’s a more simplistic way to read odds, especially when betting odd numbers. If you want a $377 bet on the Chiefs, put $377 into the bet slip, and it works out your total return. Your profit is the total return minus your original stake.
We don’t expect the decimal odds’ system to infiltrate American sportsbooks anytime soon, but it’s a widely-used system, and you have an option to change from American to decimal at the book.
Commonly used in the UK, fractional odds are a little more difficult to understand, mostly for short-priced favorites.
Understanding numbers such as 10-1 and 18-1 are easy. Betting on a 10/1 underdog returns $1000 for a $100 bet, that’s not rocket science. However, betting on a 3-5 favorite becomes harder to understand at first glance.
Bet $5 for a profit of $3. A 3-5 favorite has an implied probability of 62.5%, which would pay -167 with American odds and $1.60 with decimal odds.
Fractions aren’t used often when displaying sports betting odds, but it’s an option with most online bookmakers.
It originated at horse racing tracks in Britain, and it’s still the preferred method in Europe.
Deciding which method to use depends on which you find easiest.
There are multiple ways of reading betting odds, so pick the method that you understand the best, regardless of where you live.
We believe the easiest method is decimal, but if you live in the U.S., it’s best to use American odds. Mostly because sporting broadcasts are saturated with American odds, so it’s a good way to familiarize yourself with the lingo.
Once you get the hang of betting using the American system, you’ll never look back.
Conversely, if you’re betting at the sportsbook, and you want to use decimal or fractional odds, there is usually an option to change.
They all have their pros and cons, so it comes down to personal preference.
You Get the Same Odds
It doesn’t matter which method you use to read betting odds, you get the same payout.
The odds might be displayed differently, but the odds don’t change, so bettors can lock in their value with American, decimal, or fractional odds.
Reading betting odds is important when placing a bet. It doesn’t matter which method you use, but understanding the basic principles of reading odds is vital.
Bettors have to know how much to bet and what their profit is before placing a bet. It’s essential in ensuring your value, so before you bet, understand what the odds mean and how much you stand to win or lose.
Betting Odds Explained
If you’re new to the world of sports betting, one of the first things you’ll need to do is figure out how betting odds work. At a quick glance, betting odds can be quite intimidating to first-time bettors, and you may find yourself asking “how do betting odds work?” That’s where Compare.bet can help; we’ve taken it back to the basics to explain betting odds and how they work.
What are the Different Types of Betting Odds?
The first step to understanding betting odds is appreciating what they do. Betting odds simply indicate the likelihood of an event and the return you’d get if you did make a wager on the result. Betting odds may be displayed in three different formats at US sportsbooks and online and mobile sports betting platforms: American odds, fractional odds and decimal odds. Different formats don’t mean different odds; it’s simply a different way of presenting them. This isn’t as complicated as it might sound and, by the time you’ve read our guide to betting odds, you’ll be an expert.
You’re most likely to come across American odds when you’re betting at American sports betting sites. This odds expression indicates a bettor’s return relative to a base figure of 100 units. American odds start with either a positive or negative sign (e.g. -200 or +200). ?A minus sign indicates a bookie’s favorite to win while a plus symbol indicates an underdog. A -250 favorite has a better chance of winning an event than a -150 favorite, while a +200 underdog has a better chance of winning than a +500 underdog.
Let’s consider a real-world example to understand how American odds work in action:
In an NFL game between the Chargers and the Patriots, a sportsbook sets odds of +170 for the Chargers to win. This means a $100 bet would net you $270 if they did win- that’s a profit of $170. However, if you were to make a successful bet on the Patriots winning, at odds of -190, ?your $100 would see a return of $152.65- a more modest, $52.65 profit.
When it comes to calculating the return from a bet made using American odds there are two different formulas that can be used:
Calculating negative odds: (100/Odds) x Stake = Profit
????Using the example above: (100/190) x $100 = $52.65
?? Calculating positive odds: Odds x (Stake/100) = Profit
???Using the example above: 170 x ($100/100) = $170
When looking at American odds, it’s important to remember that the results of some matches have a points spread attached to them. This applies to a variety of sports including NBA, NHL, NFL and MLB games.
When a point spread is attached to a set of odds it means that for the bet to be successful the team must ‘cover the spread’. This means that the team you are betting on must win or not lose by a predetermined margin of points.
For example, the Chargers could have odds of (+4) -110 to win. The (+4) indicates the point spread, meaning the Chargers would need to win by 4 points for the bet to be successful. This shows that, even though a team may be a sportsbook’s favorite, the final score must cover the point spread for a bet to be successful.
Displaying odds in a fractional format is more common in overseas markets, such as the UK, than at US online sportsbooks, but it’s useful to understand them nonetheless. Fractional odds are some of the most simple to understand, as they present your potential winnings as a fraction of the money you stake: while the denominator represents the amount bet, the numerator is the amount your stake will yield in a winning bet.
For example, odds of 1/1 mean you’d get a return of $20 for a winning $10 bet. Want a real-life example? Making a $10 winning bet on an NBA game priced at 5/1, would net you $60 in total.
You can use the following formula to calculate potential returns with fractional odds:
((Stake/ denominator) x numerator) + stake = return
?For example: (10 x 5) + 10 = 60
The decimal odds format, also known as European odds, represents the multiple of your stake that you will get back for winning a bet. While these are more common at overseas betting exchanges, you may see these at US betting sites. For example, betting on a market priced at 2.5 means you would win two and a half times your stake if your bet were to win. This means you’d win $2.50 for every $1 you wager.
Another example of decimal odds in action would be betting on NHL game with odds of 9.0. A $10 stake on odds of 9.0 would earn a total payout of $90 with $80 being won from the sportsbook and your initial $10 stake being returned.
You can use the following formula to calculate potential returns with decimal odds:
Calculating total payout: Odds x Stake = total payout e.g. 9.0 x $10 = $90
?? To calculate profit: (Odds x Stake) – Stake = profit ??e.g. (9.0 x $10) – $10 =$80
Comparing Different Types of Odds
Whichever format odds are written in, they all have an equivalent in another format. While some sites, such as William Hill’s Jersey sportsbook, allow bettors to change odds formats, it is useful to understand how to calculate odds between formats. Not only will this help you understand your potential return, but it also makes it easier to compare betting odds across sportsbooks.
Understanding the Markets Betting Odds Apply To
We’ve explained betting odds, but what markets are these set on? As the US sports betting industry continues to grow, so does the selection betting options, or betting markets, at each site. Odds will vary between these markets, and even between the same markets at different sports betting sites. Not quite sure what every US sports betting market means? These are the most popular:
A straight bet is a single bet on the outcome of a game or sporting event that is determined by a money line or point spread.
A futures wager is a bet placed on the outcome of an event in the future. For instance, you can place a wager on the winners of the NFL season which doesn’t even begin until next year
A parlay wager is a single bet that is linked with two or more wagers. In order to win a parlay bet, a bettor must win every wager in the parlay. If a bettor loses one wager in the parlay then they will lose the entire parlay bet. Parlay bets tend to have much higher odds than other bet types.
Teaser bets are usually available for basketball and football events. A teaser allows bettors to combine their bets on two different games and adjust the point spreads for the two games. However, the better will see a lower return in the event that their teams win.
A round robin is essentially a series of parlay bets. For instance, a round robin made up of three teams will consist of three two-team parlay bets.
Propositions bets are sometimes referred to as “prop” bets. These bets focus more on the outcome of a certain event happening during a sports game such as “which team will score the first touchdown?” or “how many field goals will team x score?”
It’s up to you to compare betting odds and pick your betting market. If you’re new to sports betting, we’d recommend sticking to ‘safer’ bets with lower odds until you get to grips with how it works exactly.
While gambling odds can vary between US sports betting sites, you should now be equipped with the knowledge and know how to start betting and find the best odds on the US sports betting market. Not sure where to bet? Compare.bet US has the latest on the best legal sportsbooks in your state.
How to Make the Most of Betting Odds
Once you’ve got to grips with how to read betting odds, you will then want to apply your knowledge to your sport of choice. But making the right decision can be harder than it seems. So if you’re unsure on where to start, check out our top betting tips.
Modern-day sport is dominated by statistical analysis and we are incredibly lucky to live in an age where access to that information is very easy. It is therefore simple to look up important figures such as the number of goals per game a soccer player is scoring, the number of passing yards a quarterback has made or even the number of blocks per game a player is making in the NBA. Understanding these figures and their impact on individual games can help you make an informed decision when placing your bet.
A good way to understand the mindset of the players and coaches before any event is to follow their comments in the media. These will give you an insight into their approach a game, who they may select to start and whether there are any external factors that will affect the outcome.
Last season’s MVP may have scored a record number of points, or even recorded the highest number of assists all season, but that counts for nothing if they’re not performing well this term. So if you’re thinking of placing a bet on any individual player, make sure to research how their season has fared up to this point.
Understanding Odds for Real
Now that you’ve got to grips with the basics of how to read odds, what markets they apply to and how to make the best gambling decisions, you should be ready to try out your knowledge for real. To find the best betting sites available in the US, check out our list of top sportsbooks currently operating.
If you love to bet on sports, you probably know that odds play a vital role. It is crucial to learn how to read odds in betting and learn about their different types. If you’re a beginner, you’re at the right spot. We’ll show you how to read sports odds easily and tell you more about probability and its role in sports betting.
We hope that our guide has helped you learn how to read sports odds. While it may all look complicated initially, don’t worry – reading odds is not that hard and gets easier over time. Let this article guide you, and you’ll have no trouble reading bookies’ odds the next time you’re betting.
Pick a bookmaker from our list of recommendations, and you’ll make sure to get the best value in return for your money.
Sports betting can be quite profitable if you understand the betting lines and have thoroughly researched the players or teams that you wish to bet for. How to read sports betting lines is easy, but can seem like a huge task for new gamblers. Sports betting lines are made of betting odds, team names, and markets that you will use to decide on the amount of bet that you want to place either for an underdog or a favorite.
Punters must, therefore, understand that lines are different in every sportsbook and at times are designed to suit a particular clientele. The above is the reason why people are encouraged to have more than one sportsbook, as it will be much easier for them to shop for the best rewarding line. Another important thing to note when reading the sports betting lines is that they don’t remain static throughout the day. The lines are subject to change by the sportsbook because of occurrences such as injuries and changes in weather so you have to be prepared when placing bets in Sports betting Illinois.
Remember we said that the sports betting lines are made of betting odds, and if you can understand the odds then it will be one of the primary determinants of the bets that are worth your while. The odds are usually displayed in different formats even for the free sports betting lines at Betrivers sportsbook.
Fractional odds– are unique and are in the fractional format, for example (9/5), if you one time wish to bet on boxing or horse racing, you will read the fractional odds as nine to five and not nine over five.
Decimal odds– a three-digit number with a decimal point between the first and the second digit (2.40)
American odds– are also known as the money line odds or the US odds, they are a three-digit number with a +/- at the front.
Anytime that you want to place a bet, you will notice that it comes in this format (-110), the above usually appears next to your bet and it is the commission that you will pay to the sportsbook before they accept your bet. The commission goes by “vig,” or vigorish or “juice.” If we are to look at it in a practical betting scenario is that you will have to risk $110 to win $ 100.
Important to notes is that the juice is not static, sometimes it could be a positive number, such as (+110), meaning that if you placed $100 as your bet, and it covers then you win up to $110 but if it loses, you will only lose the $100bet.
The best sports betting lines are balanced, but if not then the sportsbook might inadvertently have a lot of action on one side and which on many occasions results in disaster. There are, therefore, occasions that the risk could make profits for the punters or the sportsbook, remember, however, we are not talking about coincidences but calculated risks.
And that is why we initially insisted that players must first gain experience through the free sports betting lines. The latter will enable them to observe the movement of the line, and how much of the line has been moved. They will also know when the sportsbook is holding the line and observe for how long the line will be held and adjust their bets accordingly for profits.
Sportsbook at times provides punters with the total number of points scored, by both teams in a game. And which is called the totals, over/ under. Now your job as a punter is to decide whether the game will go over or under, or not go over/under.
Before a sportsbook releases a betting line on a particular game, they will have first made the decision about which team will be the favorite and which team will be the underdog. Now if you watch the lines closely, you will notice that there is a team with a minus sign at the front of its odds, the team is considered as the favorite, and the sportsbook expects them to win the game. The odds with a plus sign are the underdogs and the sportsbook expects them to lose the game.
Under this type of market, the game could end up in a toss-up. The latter is an outcome that implies either of the teams could win, in such a case the sportsbook will open it either as a “pick em up,” or a “pick.”
When betting for the favorites or the underdogs, you could do so through the sports betting moneylines or the spreads, a point spread is usually a bet on the margin of winning. And for this option, the underdog will get points while the favorites will give points.
You can also bet on the favorites or the underdogs via the sports betting Moneyline market, the favorites, in this case, will have a minus sign such as -200 and which means that you will have to risk about $200, to gain $100. Thus if the favorite loses, you lose $200 but if they win, you get $100. Still, under the Moneyline market, the underdogs will get a + sign such as +200, so if you are going to bet $100 on them and they win, you will take home $200 but if they lose, the $100 bet that you placed will also be lost. It is thus safe to say that punters tend to get more benefits by betting on the underdogs.
Spreads are famously found when betting on football and basketball
Moneyline is famously found when betting on hockey, soccer, or baseball.
When it comes to how to read sports betting lines, there are so many aspects that you have to put into perspective if you are to remain profitable. First is that the sportsbook must always make a profit and that as the line is being created things such as injuries, the relationship between players and the coach, home-field advantage, and the time that the game is being played is highly considered and which you must be knowledgeable about.
To read odds in sports betting, it is crucial first to recognize some important things. The simplest circumstances of odds is a two-sided coin: heads & tails. Every time the coin is thrown, there is a 50% possibility that it will certainly arrive at heads & a 50% opportunity that it will certainly come down on tails. Both percents placed in up to 100%, where the possibility of all feasible outcomes must add up to 100%.
When discussing cricket betting, online cricket betting is a leisure activity of ton of money; that’s what gambling is everything about. Betting has actually turned out to be a supply of income for a number of people around the globe. Successful cricket betting requirements self-control, good money management coupled with the ability to frequently detect betting worth.
For many years, cricket has actually grown in track record & currently you have the opportunity to put cricket bank on virtually every bookmaker available. Contrast cricket betting odds & area your stake with a bookie that aids as well as matches you the most. Gambling on cricket at the top odds can assist you to win approximately 20% even more.
Betting on a cricket suit begins with observant details provided by bookies. The base of any type of bet is the odds of a group losing a match or winning. In cricket betting odds, the possibilities are intricate by the piece of the game.
For instance, as a Test suit can last five days, you will not understand the result for an extensive period. Numerous factors can transform over the course of the match, so you require to have a clear suggestion of leads before the game beginning as well as stay on top of a variant that might take place throughout the match. The odds play a substantial function in assessing a group’s past show.
A very easy way to think about the odds in some sport is the implied opportunity of a specific end result. It is the arithmetical assumption that a team will win or shed a suit based on their past presentation. While the odds in cricket can additionally consider the wagers of various other fans, you can expect the data to give an important concept of statistical probabilities.
The odds are a statistical detail that helps you clear up the possibility of a bookie. It reveals the bookmaker’s research study as well as tells you extra regarding the teams with the superior assumption of a win.
Cricket betting odds are regularly created as a decimal. As an example, it can be written as 1.55 for a team throughout a suit. That number provides you a suggestion of just how the group is likely to carry out throughout the video game. If you want to know which group has a greater opportunity of winning the game, then divide 1 by the decimal given. 1/1.55 indicates the group has a 64.5 percent possibility of winning.
Bear in mind that the odds can show more than simply the vital probability of a group winning. It can likewise inform you about other bets placed on a player, so the wagers of others can tip the ranges in favour of a group with a reduced opportunity of winning the video game.
It is essential that you’re capable enough in recognizing sporting activities odds to go out there & goal to win. The details as well as guidance in this guide are extensive that it will answer some questions you might most likely have about sports betting.
To check out odds in sports betting, it is essential first to recognize some essential things. Contrast cricket betting odds & place your stake with a bookmaker that aids as well as fits you the a lot of. Betting on cricket at the top odds can aid you to win up to 20% even more.
The base of any bet is the odds of a group shedding a match or winning. While the odds in cricket can additionally factor in the bets of various other fans, you can anticipate the information to supply an important suggestion how to read betting odds cricketHow to win more by reading cricket betting odds？ of statistical likelihoods.