How Odds Work in Sports Betting: A Complete Guide

If the Chiefs are victorious, you will win $100, for a total payout of $860 (initial stake of $760 + profit of $100). American odds are a betting format that uses plus (+) and minus (-) signs to represent potential payouts and implied probability. Favorites are denoted with a minus sign, indicating how much you must bet to win $100 (e.g., -150 means betting $150 to win $100).

One site might offer 2.10 on a football match, while another offers 1.95. These small changes in display odds can mean a big difference in returns, especially with bigger bets. For example, if the American odds for a team are +150 and we bet €100, the total profit would be €150 in the event of a win.

Nonetheless, this does not necessarily mean that these odds are originating in Vegas. It is still good to understand this as common sports gambling parlance. Some may consider this method of representing odds to be simpler. Fractional odds are the amount you would win divided by the amount you are wagering.

International bettors may lean towards moneyline odds or US odds. Many consider decimal odds easier to understand, especially when converting betting odds or comparing across different betting sites. They’re now widely used by some of the best betting sites in the UK and abroad. These are represented by a positive or negative number, such as +150 or -200. Positive odds indicate the potential profit for every €100 wagered, while negative odds indicate the amount needed to win €100. Decimal odds (e.g., 1.50, 2.75, 3.00) are popular in Europe, Canada, and at many online betting sites.

Step 11. Log in to your sportsbook account

You’ll arrive at $32.50, meaning you need to risk that much to win $25. Make sure to enhance your betting strategies by using welcome offers such as the Fanatics Sportsbook promo or the Caesars Sportsbook promo code. An exciting new sportsbook has entered the market as well — ESPN BET.

The additional 5¢ is the sportsbook’s juice, and ensures that they will make a profit regardless of the outcome. A bookmaker would calculate the odds of it landing heads up as even, or +100. True odds are when a sportsbook sets a price that doesn’t include a take for itself. You would win$13 against every $5 you wager on Brooklyn to be the champions. Meanwhile, you’d win $9 against each $2 you put at stake for Golden State to win, and for Milwaukee, you’d win $7 against each $1 bet. Supreme Court gave states permission to legalize sports betting if they wished to do so.

Negative Odds

It’s a must-have for anyone serious about making informed bets. By the end of this guide, you’ll learn the meaning behind betting odds, how to read different formats, and how to calculate potential winnings. Let’s make sports betting clearer and more enjoyable, no matter your experience level. However, in sports betting, sportsbooks are also trying to make a profit.

• You win more money compared to your wager when you bet on underdogs (+) than on favorites (-).
• The more bets you add to a parlay, the longer the odds get, even if you’re picking heavy favorites.
• If you’re new to betting, one of the first things you should do is learn how betting odds work and what betting odds mean.
• The bettor can wager over or under the bookmaker’s prediction.
• By familiarizing yourself with different formats—decimal, fractional, and moneyline—you can better interpret potential payouts and implied probabilities.

This way you know what to look for when you’re shopping around for the best odds. The decimal shows how much profit is paid for every dollar on a correct bet. Favorites have a lower number, while underdogs have a higher number. Seeing just a decimal number may seem confusing if you’re still figuring out how odds work. Gambling can be addictive, always play responsibly and only bet what you can afford to lose.

Using two of the examples above, let’s say a bettor wanted to build an NBA parlay featuring the Celtics -5.5 (-112) and Shai Gilgeous-Alexander Over 30.5 points (-120). By combining those two wagers, the parlay odds are now at +247. So a $100 bet on the parlay would have a potential payout of $347 ($100 initial stake and $247 profit). All three of the betting formats—American, fractional and decimal—can and should be converted into implied odds by a bettor. Implied odds are a conversion of American, fractional or decimal odds into a percentage while also taking into account the sportsbook’s edge. There are some instances in which both teams are designated by the minus sign.

For example, 7 to 2 odds mean that for every $2 you wager, you could win $7 if your bet is successful, while 5 to 1 odds mean you could win $5 for every $1 you bet. Read on to see betting odds explained in any of these formats. The variations can take some getting used to, but we’ll give you a breakdown on each format. “Vegas odds” just mean odds that are the most up-to-date for the American market. As Las Vegas was the first site for legal betting in the country, oddsmakers there often are first (and best) at establishing odds for sporting events all over the world. If you’re finding a site that offers “Vegas” odds, you can be sure that the odds are as up-to-date and accurate as possible.

Conversely, positive numbers are attached to the underdog and refer to the amount you could win if you bet $100. You stand to make more money on positive odds, but the chances of a win are lower. The example provided earlier in this article is quite comprehensive. 22bet login The odds for favorites come with a “-“ sign, which means that you are expected to bet the indicated amount to get $100 in case of your win.