Betting Odds Guide with Examples How To Understand Them

If you bet on the Celtics, they would need to win outright or lose by three points or less for you to win your bet. American, British, and European odds are three different ways of expressing the same thing and can be converted from one to another. By understanding all three and how they work, you’ll increase your own odds of placing well-informed (if not always successful) bets. Decimal odds (aka «European odds,» «digital odds,» or «continental odds») are popular in continental Europe, Australia, New Zealand, and Canada. The favorites and underdogs can be spotted instantaneously by looking at the numbers. Follow OddsJet on Twitter or YouTube for regular updates on the best odds for big events and for our exclusive promotional offers.

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As such, the lines vary and aren’t like the NFL, NBA, or college football, where the odds are always at or around -110, as 1.5 runs in baseball, depending on the teams, could be a lot or a little. Placed my first bet in accounting class my Sophomore year in high school. About 3 years later, I started taking a true interest in betting.

You can recognize the favorite by evaluating which of the fractional odds equates to less than 1. If the line for a Yankees vs Red Sox game is set at O/U 9.5 runs, you just need New York and Boston to combine for 10-plus to hit the over, as a 6-4 Yankees win gets you there. If you think both offenses will have a strong day, bet the over. If you’re projecting a pitcher’s duel, the under is a safe bet. This is because the bookmaker’s profit margin is included in the odds, which is why the house always wins. The odds on display never reflect the true probability or chance of an event occurring (or not occurring).

What are the odds of a bet?

Negative odds indicate the amount of money you need to wager to win $100. Also, because the amount of money you need to wager to win a given amount is more than the profit you will make if the bet wins, to win $100, your bet will need to be for more than $100. Low odds, and negative odds particularly, reflect a sports betting outcome that the oddsmaker considers likely. The chance of a particular outcome occurring that a sportsbook has calculated is called the implied probability.

• And no sport caters to the hard-core prop bettor like the NFL, which offers hundreds of prop markets for every game on the schedule.
• For instance, in the above example, you would win $61.50 and receive back the initial $100 wager.
• This is the case when it comes to betting on tennis and the totals over/under market.
• Players can wager on money lines, point spreads, over/under, prop bets, and futures.

With odds often varying between sportsbooks and mobile sports betting apps, taking the time to compare and shop around can make a significant difference. Find the latest odds for NFL futures, moneylines, point spreads and more, all in one place. You can also explore live betting odds from top sportsbooks for all upcoming matchups. Compare betting lines to find the best value and start wagering on your favorites today. Point spread wagers also use moneyline odds, but they tend to be closer to even money.

The negative number indicates how much you’d need to bet to win $100. If the number is positive, you’re looking at the underdog, and the number refers to the amount of money you’ll win if you bet $100. When you wager on the best odds, you’re guaranteed a better return if you win your bet.

This is crucial for understanding where to find betting value. First and foremost, we guarantee that you get the best betting odds for whichever sport or market you are looking to bet on. Ranging from betting on the top divisions to smaller leagues or events, you will find sports betting odds for all types of tournaments. In this instance, you would need to bet $300 on Duke to make a $100 profit. A $10 bet on Duke would earn you $3.33 if successful, whereas a $10 bet on North Carolina would earn you $25. That tells you the sportsbooks think Duke kubet has a much better chance to win the game, so it is the clear favorite in the college basketball odds, while North Carolina is the underdog for the game.

Converting between types of odds

American odds can be any number over 100 and must have either a plus or minus sign in front of them. You’ll need to log in again to regain access to winning picks, exclusive bonuses and more. If you find yourself unable to calculate a bet, don’t worry because The Sports Geek has you covered. Fractional odds (aka «British odds,» «U.K. odds,» or «traditional odds») are popular among British and Irish bookies. For a bet at 10.00, the probability would be 10 per cent, and so on.

MLB runline bets (sometimes called spread bets) allow for a little more nuance. If you’re looking to bet on a favorite, but the moneyline odds aren’t great value. You can bet the runline (for the team to win by more than 1.5 runs) and get some better value in the line. For fractional odds like 7/2, a $100 bet gives $350 in profit.