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From point spreads to totals to moneylines, odds of all kinds can be placed on games and futures in order for them to be bet on. Odds help level the playing field. But you may have second thoughts on which side offers the most value based on the odds.
Point spread betting allocates points to the underdog in exchange for more even odds. Understanding how to read betting odds starts with knowing the various formats sportsbooks use to display betting lines. The three most common types of odds shown are called American, fractional and decimal.
All three of these sports betting odds are essentially different methods of giving the bettor the same information. From NFL betting to horse racing wagers and everything in-between, knowing how to read odds for betting is key to knowing how much to bet to win a certain amount of profit. Sportsbooks display betting odds in American, fractional or decimal formats depending on the location. Most US online betting sites default to American odds but allow bettors to choose which format they prefer in settings.
For sportsbooks that limit the way their odds are displayed, the Bookies. American odds, often referred to as US odds or moneyline odds, are the lines most commonly used in the United States and Canada. For example, if the Houston Astros were facing the New York Yankees, it may look like this at a sportsbook:. The Astros are the underdog, signified by the plus-value.
Odds even the playing field, making a bet on the underdog is worth more since the chances of them winning are slightly less. Knowing what you now know, you can quickly realize how much a moneyline wager would make you based on American odds.
The bigger the difference between the teams, the bigger the gap between lines. A bet on Vandy would be riskier but offers a bigger payout. It instantly tabulates any potential payout. The best answer in some cases is to bookmark the Bookies. Decimal odds are the most-common format among European and Australian sportsbooks. The decimal point is entirely based on total payout including the initial wager. Whatever your wager, you multiply it by the odds to figure out your total payout.
If a team is posted at 2. Generally, if a team is lower than 2. You will never see a negative number in decimal odds as 1. A team posted at 2. In the end, there is no true difference between the options. Many online sportsbooks have options to alter the odds format based on preferences.
Implied probability is the conversion of betting odds into a percentage. It can help gauge the likelihood of an outcome occurring by the oddsmakers. American odds, fractional odds and decimal odds can all be turned into a percentage using implied probability. The reason for figuring out implied probability is value. If the Packers are posted at 1. Green Bay has a The opponent has a American odds: The equations here are different depending on if the team is the favorite or underdog.
The easiest way to figure implied probability is let the computer do the work. Bookmark the Bookies. American odds, fractional odds and decimal odds may look different, but they all say the same thing. Understanding each can help avoid confusion and ensure you make the bets you want to make. Knowing the implied probability of lines can assist in determining your top value picks, whether they be prop bets, a parlay or just spread betting.
Betting odds show the chances each entrant in a competition has to win, according to the sportsbook. Moneyline odds are lower for favorites, higher for underdogs. Point spreads balance the odds. Odds can be shown in any of the three formats US, fractional, decimal but they mean the same thing.
The quickest way to calculate earnings is to bookmark the Bookies. Oddsmakers at sportsbooks create the odds based both on likely outcome and how people are most likely to bet on the action. Making informed choices is critical to winning the most money you can. Understanding the odds is critical in that process. The odds are different formats based on preference and are displayed differently but equate to the same thing.
A push is a bet that has no winning outcome from a betting standpoint. If a team is favored by 4 points and win by 4, neither side of the point spread bet would win. Bettors are returned their original wager. The same holds true in totals betting. This is called betting on the "Money Line". Sports books offer a number of different cards, each one having different rules. Rules for parlay cards are placed on the back of each card.
Read them carefully before wagering. The cards are simple to fill out. Simply darken the boxes, or circles, that apply to the teams you wish to parlay. Then darken the amount you want to bet. Sportsbooks offer bettors the opportunity to wager on the outcome of a season -- for example, which team will win the Super Bowl or the Stanley Cup or the American League East pennant.
This is known as "futures book" or "future book" betting. As an illustration, let's look at Super Bowl futures. For example, the Ravens may be , the Redskins , the Cardinals , etc. It does not matter whether your team covers the point spread in the Super Bowl. For the purposes of future book betting, the team has to win only the Super Bowl. When you make a futures bet, your odds are "locked in.
Futures betting also is offered on the major events in horse racing, such as the Kentucky Derby and Breeders' Cup. In horse racing futures, if your horse does not start the race due to injury or any other reason, you lose the bet -- there are no refunds. On the other hand, the odds on your horse racing futures bet also are "locked in," regardless of the horse's odds on race day. Some sportsbooks offer futures betting on unusual propositions, such as which major league baseball player will hit the most home runs in the regular season.
Note that in this type of wager, all bets are action regardless of injuries or other unforeseen events. This type of wager is typically found on pro football and major league baseball, and sometimes on pro basketball. If the Yankees go on to win 94 or more games, the "over" is a winner. If they win 92 or fewer games, the "under" is a winner.
If they win exactly 93, the bet is a push and tickets are refunded. Among Las Vegas gamblers, golf is considered one of the two fastest-growing sports to bet on auto racing is the other. The most basic form of golf betting involves picking the winner of a tournament. Typically a sports book will list 30 or more individual golfers along with a field all others option, at various odds.
Another popular form of golf betting involves matchup propositions, in which two golfers are paired against each other in a head-to-head wager, with a betting line on each golfer set by the oddsmaker. The golfer with the better lower score wins the matchup. If one golfer continues play in the tournament after his opponent misses the cut, the golfer who continues play wins the matchup.
For example, a matchup may pit Lehman minus against Jim Furyk plus Some matchups pit one usually very good golfer against two or more others. To determine the winner, take Woods' score and compare with to the best lowest score recorded by the three others. If he finishes first, second or third in the tournament, the "under" wins; if he finishes fourth or worse, the "over" tickets cash. Rules vary by casino, but usually your golfer must tee off in the tournament for "action" meaning once he tees off, you will either win or lose your bet.
If for some reason he does not tee off, this is usually considered "no action" and tickets are refunded. To bet on hockey, tell the ticket writer the bet number of the team you wish to bet and the amount you wish to wager. If your team covers the goal spread, you win. The payout is based on a "Money Line". When betting on hockey, the team you bet on must "cover the spread. The Red Wings must win the game by at least two goals to be a winner. If you bet on the Sharks, you win your bet if: a The Sharks win the game.
Note: The money line is used in conjunction with the point spread. All teams must win to win the bet. Hockey parlays are figured out by calculating the payout for the first game, based on the money line, then applying that amount to the next game and so forth. Thanks to satellite feeds from racetracks around the nation, Las Vegas is a sort of nirvana for horse racing bettors or "horseplayers," as they are sometimes called. Because there are so many tracks to choose from, in Las Vegas race books it is usually necessary to identify which track you want when you place your bet.
For example, tell the ticket writer, "Churchill Downs, eighth race, five dollars to win on No. Otherwise, betting procedure in the race book is the same as at the track: For you to collect on a "win" bet your horse must win the race, to collect on a "place" bet he must finish first or second, and to collect on a "show" bet he must finish first, second or third.
Betting a horse "across the board" is really three separate bets: one to win, one to place and one to show. Hitting an "exacta" entails picking the first two finishers in a race in the correct order; a "quinella" is the first two finishers in either order.
A "trifecta" is the first three finishers in exact order; a "trifecta box" is the first three in any order. A "superfecta" is the first four finishers in exacta order. A "daily double" is a wager that calls for picking the winners of two consecutive races. A "daily triple" entails picking the winners of three consecutive races. And a "Pick Six" calls for picking the winners of six consecutive races, an extremely difficult feat that is usually rewarded with an enormous payout.
In Las Vegas, race books frequently offer promotions such as free contests with cash prizes, special house-banked betting pools that grow larger if no one hits them for a few days or horse racing tournaments. Rules and details vary greatly by casino so be sure to shop around to find those that appeal to you. Nevada sportsbooks are not permitted to accept wagers on presidential elections, the Academy Awards or the winner of the TV show "Survivor.
They are not real betting lines. Under state law, wagers must involve the outcome of "athletic contests" rather than elections or votes of any kind. Even so, "wacky" proposition bets can sometimes be found in Las Vegas sportsbooks. They are often linked to the Super Bowl or another major sporting event. For instance, in Super Bowl XXXV gamblers could bet on whether the Ravens would score more touchdowns than the Chicago Blackhawks scored goals on Super Bowl Sunday -- and that was just one of countless "wacky" propositions.
As another example, to generate interest in Monday Night NFL games, many sportsbooks offer odds on which player will score the first touchdown in the game. These "wacky" bets can be lots of fun, but odds and details vary tremendously by casino, so read the fine print before getting involved.
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This is not a betting site. Auto racing Betting on auto racing has exploded in popularity in Vegas in recent years, and its appeal continues to grow. Driver Odds Jeff Gordon Jeff Burton Casey Atwood Auto racing matchup propositions also are available, in which two drivers are paired against each other in a head-to-head wager, with a betting line on each driver set by the oddsmaker.
Baseball To bet on baseball, tell the ticket writer the bet number of the team you wish to bet and the amount you wish to wager. Example: Pitcher listed is starting pitcher Bet Num. You have just seen an example of a dime line. Braves Dodgers Braves Dodgers Even You can arrive at the underdog's price by looking at the favorite's line.
Total: Total runs scored in a game. Example: Bet Num. Baseball Parlays You may combine several teams into one wager. Listed pitcher s option When making a baseball bet, you are betting team vs. Basketball To bet on basketball, tell the ticket writer the bet number of the team you wish to bet, with the point spread, and the amount you wish to wager. This is called a straight bet. Example: Bet No. Total: Total points scored in a game.
The following are approximate odds: 2 teams 3 teams 4 teams 5 teams 6 teams 7 teams Any game that results in a push reduces the parlay one team. Basketball Teasers: A wager that improves the point spread, but at reduced odds. The following are approximate odds: Number of teams 4 points 4. A draw on a straight bet will refund your bet. Football To bet on football, tell the ticket writer the bet number of the team you wish to bet, with the point spread and the amount you wish to wager.
A straight bet is the most common type of football bet. If the Dolphins win by exactly 6 points, the wager is declared a push and all money is refunded. Bet No. Football Parlays: More than one team on the same bet.
A total of 63 percent of all tickets sold on the spread at William Hill was on the Chiefs as was 65 percent of all money wagered. That spread never once got off 3 points, though. The total closed at So, those were two huge wins for the books. He was the most popularly bet to win MVP at William Hill by total dollars at 21 percent and total tickets at 10 percent. Individually, Rob Gronkowski was a loser for the book in scoring the game's first touchdown on an 8-yard pass from Brady with 37 seconds left in the first quarter to give the Bucs a lead they would never relinquish.
Anything Gronk related was bad for us but we expected it because he's a popular player. Biggest prop we won on was exact margin of victory with not many long-shot bets on Tampa winning by a large margin. With five quarterbacks going in Round 1, it could be a wild ride early in the NFL draft.
Jeremy Maclin retired two years ago, but the former Eagles wideout hasn't been sitting around. Freshman quarterback Jayden de Laura, the crown jewel of the recruiting class, has been suspended indefinitely.
There are many questions surrounding the Bears quarterback situation, but it sounds like we can rule out a Mitchell Trubisky return in Tom Brady just won his seventh championship. Which ties him with Robert Horry. During the first quarter against the San Antonio Spurs, Steph Curry finished an absurd highlight-reel layup with his back to the basket.
Jaylen Brown went off -- both on and off the court -- Tuesday night in Utah. After dropping 33 points in a losing effort, J. Raiders QB Marcus Mariota receiving trade interest from several teams. Read full article.
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