Money Line Betting
These odds suggest that if this fight happened 21 times (8 + 13), Golovkin would lose 8 bouts and win 13. If you think their chance of winning is higher than that, this bet is worth serious consideration. Implied probability refers to the likelihood of a particular outcome suggested by the odds.
Most sports betting sites will give you the option in how you display your sports odds, so it is important to understand how to read them. A parlay bet is a group of spread, moneyline, or total bets combined into one bet to increase the payout odds. In order for the parlay to win, each separate bet has to win. Parlay odds offer bigger payouts than normal odds because they are riskier, since each individual bet has to win. If you go to Las Vegas or other casinos with sportsbooks, you might see odds laid out in a slightly different format. While the odds displayed will still be American odds, they are featured in a different order.
You’re most likely to come across American odds when you’re betting at American sports betting sites. This odds expression indicates a bettor’s return relative to a base figure of 100 units. American odds start with either a positive or negative sign (e.g. -200 or +200). A minus sign indicates a bookie’s favorite to win while a plus symbol indicates an underdog. A -250 favorite has a better chance of winning an event than a -150 favorite, while a +200 underdog has a better chance of winning than a +500 underdog.
Data from more than 1,700 bets was used to generate each sportsbook’s comparative odds ranking for our 2021 annual review. Many people don’t know how to read or calculate sports betting odds, so below we have done our best on explaining how betting odds work. The most common type of sports betting odds used in North America are the American style odds which we explain below. This means bettors must win more than 50% of the time to break even. In fact, on point spread betting at -110, the breakeven point comes out to 52.38%.
In sports betting lingo, this is known as losing against the spread . It’s up to you to compare betting odds and pick your betting market. If you’re new to sports betting, we’d recommend sticking to ‘safer’ bets with lower odds until you get to grips with how it works exactly. Whichever format odds are written in, they all have an equivalent in another format. While some sites, such as William Hill’s Jersey sportsbook, allow bettors to change odds formats, it is useful to understand how to calculate odds between formats.
However, in most cases, the favorite will have a ” – ” in front of its moneyline odds while the underdog will always have a “+ .” When moneyline odds are negative, the figure indicates how much money must be wagered to win $100 . However, not all fractional odds are traditionally read using the lowest common denominator. For example, given that there is a pattern of odds of 5/4, 7/4, 9/4 and so on, odds which are mathematically 3/2 are more easily compared if expressed in the equivalent form 6/4.
For more definitions of common sports betting terms, check out SharpSide’s dedicated glossary page. In summary, the point spread is a calculated prediction of how much a team will win or lose by. If you look at the odds board and see a team’s or individual’s name followed by a minus sign and a number, that reflects that side is favored by that number of points.
However, you normally bet $200 a game and you won’t have that sort of disposable income until you get paid on Friday. After a busy work week, you’re sipping a beer at home, shuffling your fantasy lineup around. You remember that line you wanted to bet, so you open your account and scroll down to find the Lions. Along with the “+7” or some such number, another number will sit alongside it.
Say you thought one team had a 60% chance of winning, and it was available at 52.4% implied probability. Understanding how to read odds is a crucial step to becoming a successful sports bettor. From determining how much money you want to wager to figuring out which bets offer the most value, it all starts with a solid understanding of the odds. I this case, the Chicago Bulls would have to win the game by at least two points to be declared a winner of the bet. The Miami Heat can actually lose the game but must keep the final score within 1.5 total points.