How To Read And Calculate Sports Odds
For example, the Golden State money line above is listed at -340 odds. Using the same principles we just discussed, $340 needs to be bet in order to win $100. Again, this is just the bet to winnings ratio – $34 will win $10, $17 will win $5, $20 will win $5.88, etc.
This definitely seems like a way better deal than betting $340 to win $100, but remember that Orlando has a small chance of beating the best team in the league. Some bettors may see value in this, but you should never blindly bet an underdog – or any side for that matter . Data from more than 1,700 bets was used to generate each sportsbook’s comparative odds ranking. When collecting odds, we made sure to collect the same games at the same time for each sportsbook, ensuring data accuracy. Understanding how to read odds is crucial to betting on sports.
Again, this is how they reduce their risk and ensure their safe profit. The odds or amounts the bookmaker will pay are determined by the total amount that has been bet on all of the possible events. They reflect the balance of wagers on either side of the event, and include the deduction of a bookmaker’s brokerage fee (“vig” or vigorish). When moneyline odds are positive, the figure indicates how much money will be won on a $100 wager . You’ll find that the betting public tends to pile in on their favorite teams once they get home from work on Friday.
Lines of at least a touchdown are relatively uncommon in the closely contested NFL – this is the only such NFL Week 1 line at the time of writing. The San Francisco 49ers enter 2021 hopeful of recapturing their Super Bowl form from two seasons ago. The betting market expects them to be one of the stronger teams this year, pegging them as a top-10 contender in the futures odds. Most times, particularly at high levels of professional sport, the competitors have very close talent levels, and therefore the handicap winds up on the smaller side. Take, for instance, last year’s Super Bowl between the Kansas City Chiefs and Tampa Bay Buccaneers.
The casino may choose to do this to encourage more betting for a certain team or point total. Moneyline bets are the ones that can sometimes see huge paydays for underdogs or safe returns for massive favorites. If the number is +150, a $100 bet will win you $150 in profit. The minus and plus signs are really important to pay attention to. Along with the number, they tell you tons of information about the bet and the match.
Essentially, a moneyline bet is a bet on which team is going to win the game. There is no point spread or other handicap for either team, so if you pick a team and it scores more points than the other team then you win. Obviously there has to be a catch, though, or the bet would be way too simple. The sportsbooks balance their risk by setting different prices on each team.
Compare.bet US has the latest on the best legal sportsbooks in your state. Since this is a moneyline bet, these odds represent the implied probability each team has to win the game. If you wanted to bet the underdog Orlando to win the game, their money line odds are +280. Whenever a “+” is listed for odds, the number after it is how much you will win for betting $100. So in this example, a $100 bet would win $280 if the Magic win the game.
Here are some odds for a fictitious horse race and how you’d go about reading them. For every $1 wagered on a team with +200 odds, $2 will be paid out. Odds of +200 or greater are offered on teams that are not expected to win a game.
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. -110 is also the most common odds you’ll see on most point spread lines and Over/Under lines. In this example, the 49ers carried the plus sign and were, therefore, the underdog. The Chiefs took the minus sign and were, hence, the favorite. Since both numbers behind the plus and minus signs were close to 100, you could tell that both teams were a close match for each other.