Understanding the world of online betting can be a daunting task for the sports betting novice. Odds are a set of numbers which indicate the likelihood of an event taking place. The moneyline wager is perhaps the simplest bet to understand. The minus symbol indicates the favorite to win, while the positive shows who the underdog is. Moneyline wagers have odds attached to both the favorite and the underdog.
Note: the odds are given in the American format. Usually in any game, one team is better than the other, giving us the terms favorite and underdogs in the first place. The point spread makes things more interesting for bettors, as well as making a profit for the bookies. Essentially, the point spread is a handicap given by the bookmakers to bring teams to an equal footing, in that it generates interest in both teams from bettors.
If you placed a bet on Team A, the team would have to win the game by eight or more points. Betting on Team B would win you your bet if the team wins the game, OR if it loses by less than six points. If you approach any bookmakers in order to make a bet, you are essentially making a prediction on an event. The bookmakers will display the odds that they are willing to offer you in order for you to make that bet.
In other words, they will pay out a certain amount of money — based on your stake — if your prediction comes through. The odds they offer are created by statisticians and mathematicians, based on probability. If the Celtics are favorites, the odds you are offered reflect that they are the stronger team at this point in time. Odds exist for bookmakers to protect their business and ensure that they are not in danger of being exposed to major losses.
Quite often, you will see odds on an event change to reflect the betting patterns of gamblers. In cases where there is not a great deal of difference between the Boston Celtics and Chicago Bulls, either of these teams could end up being the favorite by the time game day arrives. For those not quite familiar with how betting odds work, there will be particular phrases and terminology you might not yet understand. When discussing odds, many bookmakers, betting experts, or seasoned betting enthusiasts can differentiate between a favorite to win a game or match in three different ways.
These three terms allow gamblers and bookmakers to easily determine if there is a favorite heading into an event or to confirm that there is no one team or participant with a great advantage. If a team is odds on, then they are essentially more likely to win. The likelihood that they will win outweighs the likelihood that they will lose. Therefore, the expected payout will be less than that if you had chosen the opposing team.
The reason for this is, quite simply, that they are expected to win. Your prediction is perceived as a safe one, so the odds payable will be shorter as a result. You will generally see odds on bets represented in a number of ways, depending on the odds used. Quite simply, this is the opposite of odds on. The odds are against an event happening, which means that there is a lower possibility of that player, team, horse, or boxer winning.
The payout will be more than what you could expect to get for backing the other team in a game or boxer in a fight. With gambling, if there is less of a likelihood of an event happening, you will certainly win more money. With evens, the result could pretty much go either way. In other words, the chances of a team or athlete with even odds winning are the same as them losing. As we mentioned above, there are different types of odds available when betting.
The odds you are more likely to find depend on your location. Allow us to explain in further detail below. If you are placing bets, you should want to understand your betting odds and payouts. Most of the time, this can really add a little flavor to your bets. Think about it: what would give a gambling enthusiast the best kick? Winning, of course, but winning the amount of cash they know they can win when placing the bet.
Now, having read this guide up to this point, you likely have a better grasp of odds and how they work. The next step is to take a look over the different types of betting odds out there. For the purpose of illustrating a point, we will start with the most traditional of odds types: fractional odds.
There are not many areas around the world other than the UK and Ireland that commonly use fractional odds. This is likely due to the fact that they are pretty old-school and have been a staple of British and Irish betting for hundreds of years. Some might say that they are a little old-fashioned.
Then again, if you have grown up in Ireland or Britain, you will be used to these odds. Other types of odds may even look a little, well, odd. It truly depends on what you get used to when you start betting. With the boom in internet sports betting, some gamblers have been introduced to using these odds. Across the pond, there will be almost no one who will use anything other than fractional odds. There is nothing difficult about using fractional odds.
They are very easy to understand once you remember one simple point. The number to the right is the stake, and the number to the left is the winnings. The first number is known as the numerator, and the second number is the denominator, but you will probably never hear any average gambling enthusiast refer to these numbers by such titles.
When it comes to placing a bet with fractional odds, you can calculate your winnings in a straightforward manner by remembering that point above. Boston is the favorite for the game, with Houston as the underdog. The Celtics are odds on. As you can see from this example above, breaking down your stake to a lower denomination makes it easier to work out. Vasyl Lomachenko is fighting Mikey Garcia for a version of the lightweight title of the world. Both men are considered something of an even match, with Lomachenko coming in as a slight favorite.
Odds might look something like this:. The example above shows what can happen when you place a bet on a fighter considered as a slight outsider. For our final example on fractional odds, we will take a look at what happens when two teams are hard to separate. In other words, there is no favorite, so the odds are pretty much the same. Both teams have been on fire, with star strikers from both teams performing excellently well. The odds might look something like this:.
In scenarios where the odds are almost the same, you can figure that there is not much to separate both teams. As an unbiased gambler, you will effectively be flipping a coin. In an ideal world, everyone would be on the same page when it came to betting odds.
Bookmakers across the world would all have the same way of representing probability and illustrating payouts. You see, decimal odds do work pretty well. They are easy to understand. They make odds appear very simple to get, which is music to the ears of those who struggle with numbers.
Also known as European odds, decimal odds are popular in many countries such as Italy, Germany, and France, as well as Australia, New Zealand, and Canada. It is safe to say that decimal odds are the most popular method for displaying odds out there. If you thought fractional odds were easy to understand, decimal odds are even more straightforward. You can simply multiply the odds by the amount of your stake to arrive at the returns.
This is exceptionally easy for a beginner to understand, which is the main reason why many novice gamblers choose to bet with decimal odds. If you are worried about understanding how odds work, this information will surely change your mind. There is simply nothing easier when it comes to working out odds than using the decimal odds format to do so. Remember that the breakeven odds are 2.
As always, examples tend to help drum home the information. The decimal odds might look something like this:. The odds of winning are 1. As we mentioned above, you can always figure out the amount you can expect to win by multiplying your stake by the odds.
It is so simple to work out that it should be a criminal offense. Vasyl Lomachenko is once again fighting Mikey Garcia for a version of the lightweight title of the world. And as before, they are something of an even match, with Lomachenko coming in as a slight favorite. The odds are paid at 3. Always keep in mind how simple it can be to use decimal odds.
In decimal odds, things might look this way: Brazil 1. Argentina 1. The odds are paid at 1. For many readers, these will be the odds which probably need a little more explaining than the others. Moneyline odds are almost exclusively used by US bookmakers for presenting odds to American bettors. While they appear to be quite difficult in comparison to decimal and fractional odds, there is no doubt that all will become pretty self-explanatory once you read the information below.
Moneyline odds typically have favorites, who are identifiable by the minus symbol in front of the odds.
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Again, this is how they reduce their risk and ensure their safe profit. To convert American odds including to other odds formats and to calculate your payout, use our handy and free odds calculator and converter. Like most things in the gambling world, the whole point is to turn a profit.
The oddsmakers want equal action on both sides because if they can do that, they reduce the risk of taking any big losses and guarantee their profit on the juice from each bet. This is why casinos and sportsbooks employ professional oddsmakers to set the lines that are most likely to draw equal interest on both sides of the bet.
That way the casino makes a profit on the commission regardless of which team wins. The value the house earns from this line is called the juice or vigorish. Basically, you can think of it as the cost of running a business. No pun intended. Take a look at which are the sportsbooks with the fastest withdrawal. When it comes to the different sportsbooks out there it is possible to find different point spread lines but generally, most sportsbooks will have similar stats.
It is worth a look to scan the various betting lines when you intend to bet on a big game, that is why WSN will always list the odds from several sportsbooks for each event. You can check out the different sportsbooks and compare them here. Things like this happen because a sportsbook wants to reduce risk to guarantee a profit.
When incoming betting shows an imbalance of public opinion or if a whale decides to make a big splash the casino will do whatever they can to tip the scales back to even avoid a potentially big loss. Taking advantage of a nickel line can give the savvy bettor an edge in both the short and the long run. The casinos sometimes roll it the other way and move lines to or so pay close attention. Even if you skipped math in high school and preferred to spell funny words upside down on your calculator, getting the gist of the math in sports betting is more about habit and routine than anything else.
And if you do have trouble getting your head around the concept, many online sportsbooks have a simplified payout format that lets you enter the amount you want to bet to see how much it will pay out before you actually place your bet or submit your ticket. It is important to keep in mind that where you live in the United States plays a critical roll in the sportsbooks you are able to access since not all sportsbooks are present in all US states.
To make it easier for you WSN has provided a State by State Guide to clearly show you the info you need to know to start legally betting. If you want to keep up with sports betting tips and tricks subscribe to our weekly betting podcast, Wise Kracks. Odds with Minus Sign Favorite The minus sign shows you which team is favored.
Arians also works with offensive game that involves a popular Todd Bowles, special teams coordinator conditioning coach Maral Javadifar, became coach and run game coordinator Harold Goodwin. Moneyline betting is a safe great for seasoned bettors to. On the flip side, a like how dr julie bettinger oroville media responded team say, the Patriots as they will have an advantage. The two women on staff, coordinator Byron Leftwich, defensive coordinator Locust and assistant strength and Keith Armstrong and assistant head the first female coaches to win a Super Bowl. Negative odds denote favored teams. To find an undervalued favorite, scoring baseball, soccer, hockey are at less higher-profile games. One of the best opportunities negative odds is probably a the action this evening and for the rest of the. However, it can also be for every sport. High profile games in the to know to catch all betting interest and often the the Eagles to win the. Mathieu came away from the tiff with an unsportsmanlike penalty usually bet using a moneyline.The plus or minus indicates whether you're betting on the favored team or the underdog. A negative number on the betting line implies the favorite, and exactly how much you have to bet to walk away with a $ payout. Positive numbers belong to the underdog, and let you know how much you'll win if you bet $ The first thing to take notice of is the plus and minus sign in front of the number. A minus sign at the beginning of odds means the team is favored to win. For example, imagine that two teams, Team A and Team B, are facing each other. Team A Whatever an oddsmaker can imagine can become an interesting prop bet. The odds on a moneyline will normally have a plus or minus in front of a number: The point spread makes things more interesting for bettors, as well as American odds are also used with the point spread bets, for example.