How To Read Betting Odds: A Step By Step Guide

If even one of your bets is incorrect, you lose the entire parlay wager. Sometimes referred to as an over/under, these betting odds are wagers placed on whether the total score between both teams in a game will be higher or lower than what the provider predicts. With these betting odds, you are wagering on whether the favored team in a matchup will not only win, but win by more than the number of points that the provider is estimating. Now that you know how to read odds a little better, let’s take a look at the pinup different types of wagers. So how do odds work when it comes to these different types of bets? But if you’re new to sports betting, all the information may seem a bit overwhelming.

Hockey totals are how many goals will be scored between both teams. First there are the moneyline betting odds , which is the bet on who will win the event outright with no point spreads or other variables. You simply pick the team you think will win and place the bet. However, without using the odds, the payouts are usually much different then they would be with the odds in place. Futures betting is similar to money line in that the odds are the price of the outright winner.

Every bettor will have their individual preference of how odds are shown, while different formats are used in different parts of the world. Soccer betting odds, much like other sports, are available in decimal, fractional or moneyline formats. Decimal odds, for instance, could be 2.00, indicating you could win $2 for every $1 wagered. Fractional odds might be 5/4, meaning you could win $5 for every $4 wagered. Baseball betting odds are also commonly displayed in decimal, fractional or moneyline formats.

They represent the total payout (profit + your original stake) based on a 1-unit stake. All betting odds (in any format) can be converted into an implied probability. Implied probability is the market’s best guess at the chance of something happening, taking into account both the true likelihood and the bookmaker’s margin (also called the “vig” or “juice”). Though the format they’re shown in and the calculations that determine your winnings change, betting odds are always a measure of how likely a sportsbook finds an outcome. Since the end of the federal prohibition on sports wagering, several states have legalized sports betting. Providers in these states are already offering betting odds on all of your favorite events.

How do you read spread odds?

Oddsmakers set a line and bettors decide whether the actual total score will be over or under that line. While you may still be confused at the end, the only way you are going to learn how to play with odds is by adapting the appropriate information and utilizing it firsthand. To this degree, we have found various sports betting sites where you can utilize these options to the fullest extent. And, if you ever have any questions, please drop us a line at where we can answer all of your questions through email. To non-Americans, moneyline odds are the most confusing of all.

Strategy 1: Consider how odds change

For instance a +200 underdog has a better chance of winning than a +500 outsider. The betting favourite comes with a minus symbol (-), the higher the absolute value of the number, the bettor the chance the traders give for that team or individual to win. For example, a -200 favourite has been calculated to have a better chance to win that a -120 favourite.

• Below are three of the most popular bet types—point spreads, moneylines, and totals (over/under)—with notes on how to read their odds.
• The betting favorite of any game will have a minus sign next to its money line and point spread since it is viewed that that team is more likely to win.
• A bookie doesn’t exist to predict the future – its reason for existence is to make money, and it ensures itself profit through its oddsmaking.
• Odds represent the probability of an event occurring and dictate the potential payout from a sports bet.

If one bookmaker has the outcome at 2/1, whereas another has it priced at 4/1, the value lies with the latter site. Overall, odds converters are indispensable tools for sports bettors seeking to enhance their betting experience. At the beginning of a season or before a significant event, futures odds are initially established. Bookmakers use their expertise and data analysis to determine the initial probabilities and then convert them into odds format. These odds are then presented to the bettors as betting options.

Betting odds matter because they tell you how much you could potentially win on a particular wager. Learn how to read odds, including Vegas correctly and you will be able to calculate what your exact return will be if your bet is correct. Betting odds are a measure of how likely or unlikely a sportsbook finds an event to be. The more likely an outcome is, the less you can make wagering on that outcome.

Below are three of the most popular bet types—point spreads, moneylines, and totals (over/under)—with notes on how to read their odds. A moneyline is one of the simplest kinds of betting odds explained in this guide. Here you are simply betting on a result of a match, whether that is one team winning or the game ending in a draw. As long as you pick the correct outcome, this bet will payout for you.

Almost all online sportsbooks will offer the option of displaying odds in the decimal format, which is sometimes known as European odds in the UK. Plus odds, such as +150, show how much profit a £100 bet would return. Minus odds, such as -150, show how much you need to bet to win £100. Totals bets, also known as over/under bets, involve wagering on the total combined score of both teams in a game.

These can be a little bit confusing but if you just pay attention to the + or – symbol then you should not have any issues. And, with a little bit of manipulation, you can see how these odds will pay if the wager ends up being a winner and that is what we’re all here for… If Team A wins, but only by 3 points, then you will still win and get paid. If you are Betting The Point Spread On “Team A” in Football – Favored by -6 – This means “Team A” must beat the other team by 7 points or more to win the bet.

All betting odds share the same purpose – to show you your payout on a bet, a figure that will remain constant no matter which odds are used. These odds quote the net total which will be paid out to the bettor should they win, factoring in their stake. If you see the letters PK alongside the odds offered on a game, it means there is no favorite and you should “pick” the winner of the game without worrying about any point spread.