Sports Betting Odds 101
Let's take a look at how to calculate each type of odds, how you can use a sports odds calculator to improve your gambling and where to find the best odds converter on the net. Before you start checking out Las Vegas sports odds or betting on sports on the web, the most important thing to know is how odds work and how to read sports lines.
Using an online sportsbook means that you can bet on sporting events taking place anywhere in the world, which is fantastic, but a big disadvantage is that odds on some sites may be presented in a format that you are not familiar with.
But, no matter what type of odds are shown, they all indicate the same thing: You can use our betting odds calculator to see how the different types of odds represent this chance, but many seasoned gamblers end up being able to convert between various types of odds in their head! As the name suggests, American Odds are mostly popular with sportsbooks here in the United States. American sports betting odds work differently for favorites and underdogs, and are sometimes known as Moneyline Odds.
You may notice that this is similar to 'odds-on' bets in UK markets. If you see the letters PK alongside the odds offered on a game, it means that there is no favorite and you should "pick" the winner of the game without the need to worry about any point spread.
Fractional Odds are popular in the United Kingdom but are also often used in horse racing. Fractional odds can also be referred to as British Odds, UK Odds, or Traditional Odds, and quote the net total that will be paid out to the bettor — should they win — relative to their stake.
Almost all online sportsbooks will offer the option of displaying their odds in the decimal format, which is sometimes known as European Odds in the UK. With decimal odds, the figure quoted is the exact amount that will be paid out if the bet is a winner. Decimal odds are essentially equivalent to the decimal value of the fractional odds, plus one. Armed with the above knowledge, you should now have a pretty good idea of how to read sports lines. Think of it as a quick reference guide to sports betting for dummies!
You can see below how to do this manually:. Offering odds that are much better for players than Vegas odds and those listed elsewhere will certainly attract more gamblers, but it can be absolutely disastrous for gambling venues if things go wrong, i.
An odds converter or odds calculator is essential if you are betting on more than one sport at once and, as we already know, almost all internet sportsbooks in let you do just that. Perms, parlays, or accumulators allow sports gamblers to mix and match several games and results onto one betting slip.
Basically speaking, a point spread is a number the oddsmaker sets as the median between the two sides playing in the game in question for the purpose of creating betting excitement for both sides. For instance, if looking to bet on an NFL game and you check for the point spread between a Minnesota Vikings vs. The point spread being set at 5.
A future is a bet on which team you believe will win a division, conference, league, or championship game. There you have it, the basics of understanding betting odds.
Understanding these basics will make it easier for you to properly assess risk when placing future bets. Do not show this message again. Suarez L , 4. Mitchell R , 6. Also known as over-under odds, this involves predicting how many runs will be scored in the game by both teams combined. Baseball totals usually range from 6. When you see 9. Where you see a moneyline value attached to the 9.
So if you see 9. If the final score is , the total is 8 which is under 9. There are values for the over like 9. Most wagering in baseball happens on the moneyline, which replaces the point spread because most games are low-scoring games.
The team you pick has to win the game, not win by a certain number of runs or points like in basketball or football. Picture the number sitting between these two values. You have to risk a bit more to back the favorite and you get a higher payout by backing the underdog. This is identical to a puckline in hockey and serves as a combo of moneyline and point spread.
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