How To Read And Calculate Sports Odds
For example, the Golden State money line above is listed at -340 odds. Using the same principles we just discussed, $340 needs to be bet in order to win $100. Again, this is just the bet to winnings ratio – $34 will win $10, $17 will win $5, $20 will win $5.88, etc.
The only difference is that the UK odds are presented as a fractional notation (e.g. 6/5) whilst the Hong Kong odds are decimal (e.g. 1.2). If you are new to sports betting, all the numbers and odds figures can be a little confusing. This sports betting guide will help you understand why odds look like they do and what they mean. The decimal point is entirely based on total payout including the initial wager.
Experts in sports betting know the answer to the question, “how do odds work? ” and can use that information to decide which outcome the bookie considers more likely. When using decimal odds, the underdog has the higher of the two numbers, while the favorite has the lower of the two. To calculate decimal odds, you can use the following equation. Total odds How to read it Over 7 (-115) In order to win $100, you must bet $115 on the overall combined run score to be higher than 7. Under 7 (-110) In order to win $100, you must wager $110 on the total combined run score to be less than 7.
A PUSH in sports betting is when a total is a whole number like 48 points and the combined score hits it exactly. Here at Odds Shark, we want you to have options when it comes to betting on sports. The minus sign in sports betting will always indicate a favorite unless another competitor has the same or better odds. A negative point-spread always indicates the favored challenger, and reveals how many points they are expected to win by. In the above ND vs. MIA betting line, the second column contains the money line odds.
Similarly, if you bet the Packers +7 and they lose by less than seven points or win outright, you win your bet. Fractional Odds – This odds format is the easiest to verbalize and is easy to understand when the odds can be simplified. The numerator is the amount you will win by wagering the denominator . For example, 3/2 fractional odds mean that a wager of $2 will win you $3 for a total payout of $5. American Odds – This is the most common odds format used by North American bettors. It involves positive (+) or negative (-) signs indicating whether the potential payout will be greater than or less than the wager amount.
Constantly evolving, the variety of sports betting odds available today is more diverse than ever before. That said, standard wagering odds remain unchanged from their original format. Known as the ‘big three” betting options, moneylines, game totals and point spreads are offered on most sporting events. Understanding the intricacies of common odds formats, plus how they relate to straight bets, parlays, and prop options, is essential to cashing winning wagers. While legal sportsbooks in the US offer betting lines for many of the same events, the sports betting odds can vary significantly. Each sportsbook employs its own team of “bookmakers,” or people who set the odds.