How To Read Betting Odds
Since the Titans are the underdogs, their profit margin is also higher. For a $100 bet on Titans, you’d turn a profit of $185 for a final payout of $285. Unlike in point spreads, where teams may be favored by 2.5 points – moneyline odds are awarded to teams individually and involve bigger numbers. Positive numbers refer to teams not favored to win; underdogs. These teams may be less likely to win, but they will also bring in more money if they do. Moneyline betting is ideal for times when you’re not convinced the favorite will cover the spread, but you still think they’ll win.
Along with the number, they tell you tons of information about the bet and the match. Our goal is to make odds crystal clear so you feel comfortable knowing your first bets will be well-informed and well-placed. Reading odds lines and understanding the concept of -110 is nowhere near as complicated as it seems. We’re going to take you through it all step by step right here. All you want to do is make a simple bet but all you can see are an assortment of team names with numbers next to them, all of which, for some reason, are 110 or higher.
Let’s break it down in the next section with the basics of betting odds explained. 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. If you bet on sporting events, you must be able to read odds and understand what they mean.
To calculate Alvarez’s probability of winning the match, we do the same thing. Let’s say, hypothetically, odds are 11/8, meaning if the fight happened 19 times (11 + 8), Alvarez would lose 11 times and win 8 times. The – and + on a sports betting line indicates both your prospective payout and whether you’re betting on the favorite or the underdog.
Also, if the sportsbook offers promotions around parlays, you can sometimes get a better value on the odds. In almost all cases, the sportsbooks simply return your wager in the event of a push. You have to win your bet in order to receive winnings, so while you don’t lose anything, you won’t make any profit either. To convert the odds the other way, add a decimal point after the first digit and remove the negative or positive sign. Again, it’s crucial to remember to subtract your original wager when you figure potential winnings. Team World+165Team USA-200The negative or positive sign denotes whether the bet would pay out more than your wager or less than your wager.
Odds are easy to understand but there are different formats and once you become familiar with all of them, you can choose your preference. 5/3 odds equates to a +166 money line bet, meaning a $100 bet would return $266 (your original $100 bet plus $166). Most payouts for Over/Under bets are even, meaning that if you wager $100 you win $100 profit.Make sure to check this with your bookie first, however. If the score is exactly what the bookies set, then the bet is a push and everyone gets their money back. If you think the Chicago Bulls are undervalued and have a much higher chance of winning, then betting on them makes sense. Based on our evaluation of thousands of data points, we found FOX Bet offers the best odds on spread bets.