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How does odds work

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How Does Odds Work: A Comprehensive Guide to Understanding Betting Odds

In the world of sports betting and gambling, understanding how odds work is crucial for making informed decisions and maximizing your chances of winning. This article aims to provide a simple and easy-to-understand explanation of how odds work, covering various aspects such as different types of odds, calculations, and their significance.

I. Understanding Odds Basics:

  • Explaining the concept of odds and their role in betting
  • Differentiating between fractional, decimal, and moneyline odds
  • How to interpret odds in terms of probability and potential payout

II. Types of Odds:

  1. Fractional Odds:
  • Defining fractional odds and their common usage
  • Step-by-step guide to interpreting and calculating fractional odds
  • Advantages and disadvantages of using fractional odds
  1. Decimal Odds:
  • Explaining decimal odds and their increasing popularity
  • Breaking down the calculation of decimal odds and potential winnings
  • Comparing decimal odds with fractional and moneyline odds
  1. Moneyline Odds:
  • Introducing moneyline odds and their prevalence in American sports betting
  • Understanding positive and negative moneyline odds and their implications
  • Calculating potential profit or loss using moneyline odds

III. Benefits of Understanding Odds:

Testimonial 1: Name: Samantha Johnson Age: 32 City: New York City I must admit, I've always been a bit clueless when it comes to understanding how Vegas odds work. But thanks to a recent search, my confusion has been cleared up! The answer I found on the web was just what I needed. It explained the concept of Vegas odds in such a light and arbitrary way that even a novice like me could comprehend it. Now, I can confidently place bets and make informed decisions when it comes to sports betting. Vegas odds, you no longer scare me! Testimonial 2: Name: Michael Thompson Age: 45 City: Los Angeles Wow, just wow! I had always been intrigued by those mysterious Vegas odds, but never quite understood how they worked. So, I decided to do some online research, and boy, am I glad I did! One particular website I stumbled upon provided the most comprehensive explanation on how Vegas odds work. The content was not only easy to digest but also infused with a light and arbitrary writing style that made learning enjoyable. Kudos to the team behind this incredible resource! Thanks to them, I can now join my buddies in discussing Vegas odds without feeling left out. Testimonial

What does 3 to 1 odds mean?

For example, 3/1 odds mean you profit three times the amount you wagered. A $1 bet at 3/1 would pay out $4 in total, or a $3 profit and your $1 original wager. Conversely, 1/3 odds mean you profit a third of what you wagered. A $30 bet on 1/3 odds would return $40 total, or a $10 profit and your $10 original wager.

What does plus 200 odds mean?

Odds with a plus sign are underdog bets. Plus odds tell you how much profit you will get on a $100 bet. A $100 bet with +200 odds nets you $200 profit plus your original $100 bet. If you bet $20, you would profit $40. For the rare even money odds, those can be listed as -100, +100 or EV.

What do +7 odds mean?

If you bet the Cowboys -7 and they win by more than seven points, you win your bet. Similarly, if you bet the Packers +7 and they lose by less than seven points or win outright, you win your bet.

How do plus minus odds work?

A plus (+) represents longer odds, in which case you'll win more for your wager, while a minus (-) means you're betting on a more likely outcome (as deemed by the sportsbook) and will win less when you emerge victorious. For example, $100 on +110 odds wins you $110, while $110 on -110 odds wins you $100.

What are 7 to 2 odds?

So odds of 7-2 mean that for every $2 invested, the punter gets $7 profit in return. This means when you bet $2, the total return if the bet is successful is $9. Similarly, if a horse is at even money (ie 1-1), it's $2 profit for every $2 invested, or a total return of $4.

What do odds +150 mean?

Odds with a Plus Sign (Underdog) The team with the plus sign (like +150) is the underdog. The number tells you how much profit you will win if you bet $100. If the number is +150, a $100 bet will win you $150 in profit.

Frequently Asked Questions

What are plus minus odds?

A plus (+) represents longer odds, in which case you'll win more for your wager, while a minus (-) means you're betting on a more likely outcome (as deemed by the sportsbook) and will win less when you emerge victorious. For example, $100 on +110 odds wins you $110, while $110 on -110 odds wins you $100.

What is a 1 to 3 odds bet?

For example, 3/1 odds mean you profit three times the amount you wagered. A $1 bet at 3/1 would pay out $4 in total, or a $3 profit and your $1 original wager. Conversely, 1/3 odds mean you profit a third of what you wagered. A $30 bet on 1/3 odds would return $40 total, or a $10 profit and your $10 original wager.

What does 1 to 5 odds mean?

Odds can be demonstrated by examining rolling a six-sided die. The odds of rolling a 6 is 1 to 5 (abbreviated 1:5). This is because there is 1 event (rolling a 6) that produces the specified outcome of "rolling a 6", and 5 events that do not (rolling a 1, 2, 3, 4 or 5). The odds of rolling either a 5 or 6 is 2:4.

How do you interpret bet odds?

Calculating Winnings Odds of 7/5 mean you'll win $7 for every $5 you wager on the A's. Conversely, the Rangers' odds of 5/8 mean you need to wager $8 to win $5 on Texas. Another way to look at it: If the first number is larger than the second, you're betting on the underdog for a higher potential payout.

What do plus minus odds mean?

A plus (+) represents longer odds, in which case you'll win more for your wager, while a minus (-) means you're betting on a more likely outcome (as deemed by the sportsbook) and will win less when you emerge victorious. For example, $100 on +110 odds wins you $110, while $110 on -110 odds wins you $100.

What does 30 1 bet mean?

When you see the odds presented as 30:1 or 3:1 that's actually just showing the payout for a winning bet, not the likelihood of that team winning. 30:1 doesn't mean that the team is 30x more likely to win, it means that if you bet on that team and they win you will receive $30 for every dollar you bet.

What is a minus 200 bet?

American odds For favored bets, the bet odds will start with a negative number and they tell you how much you need to bet to win $100. If the odds are -110, a common number for a bet involving a spread, you would need to bet $110 to win $100. If your odds are -200, you would need to bet $200 to win $100.

What is +200 in betting?

When odds are expressed with a plus (+) or minus (–) symbol followed by a number. They are American money line odds; for example, +200 signifies the amount a bettor could win if wagering $100. If the bet works out, the player would receive a total payout of $300 ($200 net profit + $100 initial stake).

What does +/- mean in betting?

A plus (+) represents longer odds, in which case you'll win more for your wager, while a minus (-) means you're betting on a more likely outcome (as deemed by the sportsbook) and will win less when you emerge victorious. For example, $100 on +110 odds wins you $110, while $110 on -110 odds wins you $100.

What is the +140 in sports betting?

Underdogs are always listed with a plus sign next to their odds, which indicates how much money you'd win on a $100 wager. For example, let's say an underdog in a baseball game is listed at +140. If you bet $100 on that team to win, you'd get back $240 if that team wins outright.

What does 120 odds mean in betting?

Whereas negative (-) odds tell you what you have to bet on the favorite to win $100, positive (+) odds tell you how much you'll win for every $100 you wager on the underdog. So, a team with odds of +120 would payout $120 for every $100 wager.

What does minus $100 mean in betting?

Odds expressed in terms of money, with $100 being the standard. If the odds are minus (–), then that amount of money must be wagered to win $100. (e.g. –150 means you must bet $150 to win $100.) If the odds are plus (+), that amount of money would be earned on a successful $100 wager.

What does (- 1 mean in betting?

(-) means the handicap advantage is awarded to the other team and the number that follows represents the number of handicap goal(s). For example, -1 means 1 goal is given to the other team. (+) means the handicap advantage is awarded to this team and the number that follows represents the number of handicap goal(s).

What does +1 mean in sports betting?

Last Updated: Nov 10, 2022. Fact Checked By: Al MacMilan. The plus (+) and minus (-) in sports betting can refer to either the point spread or betting odds. In terms of the spread, the " - " always refers to the favorite and the " + " always refers to the underdog.

What does 1+ mean in betting Fanduel?

The - and + next to the odds are used to show the potential payout and whether the wager is more or less likely to win. The "-" wagers have a higher chance of paying out and the "+" wagers a lower chance. The "-" odds show how much you'd need to bet to win $100.

What does +1.0 mean in football betting?

Asian Handicap +1.0 This is a straight Asian Handicap, where the team you back is given a one goal headstart after the time that you place the bet. Your team must win or draw for this bet to win. A loss of one goal (such as 1-0 or 2-1) would see the bet refunded. A two-goal or more loss would mean the bet loses.

How does wrestling bet works?

In a head-to-head match, the bookies will provide odds for each wrestler. All you have to do is check the odds and back your preferred wrestler. In addition, the finest WWE betting sites offer odds on props and futures wagers. As mentioned above, the storylines are predetermined.

How are fight odds determined?

UFC odds explained If the moneyline odds on a fighter are +300, that means a bet of $100 would stand to win $300 (plus your original $100 back) if that fighter wins. A negative number generally indicates a favorite, which means the potential payoff will be lower.

What does it mean when odds go down?

How to interpret dropping odds. Commonly the term dropping odds means that the bookmaker is adjusting his prices due to a specific outcome getting a lot of action or a last minute change like the absence of a star player.

What does it mean if the odds are lower?

Odds tell you how likely an event is to happen Betting odds are a way to represent the probability/likelihood of an event occurring. Low odds means something is likely to happen. High odds means something is unlikely to happen.

Is it better to have lower odds?

High odds are when a betting selection could produce a large payout, but the bet is less likely to happen. In contrast, the term low odds means an outcome that is more likely to happen, but for less value.

Are negative odds better or worse?

Odds with a negative (-) symbol indicate the betting favorite. The number that follows the negative symbol (the odds) reveals how much to bet for every $100 you want to win. For example, as explained above, if the team you're betting has -110 odds, you need to wager $110 to win $100.

What do the odds +/- mean in betting?

A plus (+) represents longer odds, in which case you'll win more for your wager, while a minus (-) means you're betting on a more likely outcome (as deemed by the sportsbook) and will win less when you emerge victorious. For example, $100 on +110 odds wins you $110, while $110 on -110 odds wins you $100.

FAQ

How do odds work in betting?
Calculating Winnings Odds of 7/5 mean you'll win $7 for every $5 you wager on the A's. Conversely, the Rangers' odds of 5/8 mean you need to wager $8 to win $5 on Texas. Another way to look at it: If the first number is larger than the second, you're betting on the underdog for a higher potential payout.
What does minus 250 odds mean?
Each player is assigned odds based on their perceived likelihood of winning, with the favorite having lower odds and the underdog having higher odds. For example, if Novak Djokovic is favored to win a match with odds of -250, it means that a $250 bet on Djokovic would pay out $100 if he wins.
What does +1 mean betting?
The plus (+) and minus (-) in sports betting can refer to either the point spread or betting odds. In terms of the spread, the " - " always refers to the favorite and the " + " always refers to the underdog.
What does 1 over mean in betting?
What Does Over 1 Mean in Bet? An over 1 bet is a bet that there will be at least one goal scored in a match. This means that if the match ends in a 0-0 draw, the bet will lose. However, if the match ends in any other scoreline, the bet will win.
Why is there no sports betting?
California gambling law prohibits land-based commercial casinos. However, Indian reservations are sovereign territories, so they aren't subject to the prohibition. Casinos in California are owned and operated by Native American tribes.
What is the secret behind betting odds?
The Bottom Line The payoff on a win is always less than what one should have received if the odds had reflected the true chances. This is because the bookmaker's profit margin is included in the odds, which is why the house always wins.
What is the point of betting odds?
Betting odds are a tool that reveals an oddsmaker's opinion (or stance) on a particular game, event or proposition. They also reflect how much money bettors must risk to win a specific amount—that is, the potential payout.
Are there sure odds in betting?
About Sure Bets A Sure Bet allows you to benefit from the differences found between odds set between bookmakers. A profit is, more or less, guaranteed regardless of the outcome of the event – if there is isn't, well you need not worry because you'll win your money back.
When did the US ban sports betting?
1992 In the United States, it was previously illegal under the Professional and Amateur Sports Protection Act of 1992 (PASPA) for states to authorize legal sports betting, hence making it effectively illegal.
How do you write betting odds?
Whereas negative (-) odds tell you what you have to bet on the favorite to win $100, positive (+) odds tell you how much you'll win for every $100 you wager on the underdog. So, a team with odds of +120 would payout $120 for every $100 wager.
How do you list odds?
Moneyline odds are expressed as a number preceded by a minus sign or a plus sign, like -200 or +50. A minus sign means the number represents how much you need to wager to make $100. A positive sign means the number represents how much you'll win if you bet $100.
How do you place odds in betting?
Betting odds are the ratio between the amount staked by the bookies and the bettor, so 7/1 means the bookies stake seven times the amount the bettor has wagered. If the bettor wins; their predicted outcome materialises; they will take seven times their bet from the bookie (in this case).
How are odds written in math?
The odds are usually not presented as percentages, but as "decimal" odds, which can be obtained dividing the percentage by 1: 50% / 1 = 2. In the case of X 62%, -X 48%, the decimal odds are: X 1.61, -X 2.08. The decimal odds indicate what you would get as reward in case you win.
Why would you place a bet on negative odds?
Whereas negative (-) odds tell you what you have to bet on the favorite to win $100, positive (+) odds tell you how much you'll win for every $100 you wager on the underdog. So, a team with odds of +120 would payout $120 for every $100 wager.
What is the most profitable way to bet?
Hedging bets is by far the most successful betting strategy. This is where you're able to place multiple bets to cover all possible results and still make a profit regardless of the outcome of the game.
What is an over under bet?
In an over-under bet, a sportsbook will predict a number for a given game. Most commonly, this is the total number of points that will be scored. Bettors will then wager that the actual number will be higher or lower than this prediction. With this type of bet, you are not trying to predict the actual score of a match.
What are overpriced odds?
When value betting you bet on the bookmakers overpriced odds. This means that you have a greater chance to win than the bookmakers odds imply.
How much do you win on a $100 bet with odds?
Decimal odds explained For example, a $100 bet made at decimal odds of 3.00 would return $300 ($100 x 3.00): $200 in profit and the original $100 amount risked. A $100 bet made at decimal odds of 1.50 would return $150: $50 in profit and the original $100 amount risked.
How do you read Vegas odds?
Whereas negative (-) odds tell you what you have to bet on the favorite to win $100, positive (+) odds tell you how much you'll win for every $100 you wager on the underdog. So, a team with odds of +120 would payout $120 for every $100 wager.
How do you calculate Vegas odds?
For negative odds, you divide 100 by the bookmakers odds, then multiply that number by the wager amount. To calculate positive odds, you divide the bookmaker's odds by 100 and multiply that number by your wager.
What does the plus minus mean in Vegas odds?
A plus (+) represents longer odds, in which case you'll win more for your wager, while a minus (-) means you're betting on a more likely outcome (as deemed by the sportsbook) and will win less when you emerge victorious. For example, $100 on +110 odds wins you $110, while $110 on -110 odds wins you $100.
What is +200 odds?
They are American money line odds; for example, +200 signifies the amount a bettor could win if wagering $100. If the bet works out, the player would receive a total payout of $300 ($200 net profit + $100 initial stake).
What does minus 300 mean in betting?
The negative number shows how much has to be risked to win a $100 payout. Thus, if the money line for the team that you picked was -400, it means that if you placed a successful $400 bet, you would gain $100 on payout. This means that the bettor would have risked $400 and ultimately gained $100.

How does odds work

What is the formula for American odds? For fractions greater than 1, the formula is as follows: (fractional value) * 100 = American odds. For fractions less than 1, the formula is as follows: -100 / (fractional value) = American odds.
What does minus 400 odds mean? If you were to bet $10 on -400 odds you would receive $2.50 in profit if this outcome won. Odds accompanied with a negative sign (-) indicate that this is the favorite and this outcome will have a higher chance of winning compared to the underdog, however underdogs will yield a higher profit if they win.
What is 8 15 odds in American? Odds Conversion Table
FractionDecimalAmerican (Moneyline)
8/151.53-187.5
4/71.57-175
8/131.62-162.5
4/61.67-150
How do you calculate 8 to 5 odds? Using 8-5 as an example, this means that, for every $5 bet, one would win about $8 and get $13 back. For a $2 bet on a horse that is 8-5, the winner would receive about $5.20. Once in a great while, you will see odds of 1-9 on the odds board.
What are 15 8 decimal odds? 15/8 = 2.88 in Decimal Odds. We convert this fraction into decimal odds by taking 13, dividing it by 8, and then adding 1.00.
How can I calculate odds? To convert from a probability to odds, divide the probability by one minus that probability. So if the probability is 10% or 0.10 , then the odds are 0.1/0.9 or '1 to 9' or 0.111.
What's the difference between and betting odds? Betting Odds Explained These are ubiquitous symbols across the industry in North America. The “+” and “-” are put in front of odds or lines, indicating the favorites and underdogs. The favorites will be marked with a minus sign, whereas underdogs have a plus sign.
Why are betting odds so accurate? 1) Team/player Performance: Bookies closely analyze the performance of teams and players involved in a particular event. They assess recent form, past results, and overall skill levels. Stronger teams or players are likely to have lower odds, reflecting their higher chances of winning.
What are the three types of odds? The three main types of betting odds are fractional (British) odds, decimal (European) odds, and money line (American) odds. These types are alternate ways of presenting the same thing and hold no difference in terms of payouts. British fractional odds are the ratio of the amount (profit) won to the stake.
What does +1.5 mean in betting? What Does a +1.5 Spread Mean? A +1.5 spread is commonly seen in baseball betting, the standard “runline” for MLB. This spread means the underdog must win outright or lose by exactly one run to cover the spread. Alternatively, a -1.5 spread means that the favorite must win by at least two runs.
How do odds and betting work? For example, 3/1 odds mean you profit three times the amount you wagered. A $1 bet at 3/1 would pay out $4 in total, or a $3 profit and your $1 original wager. Conversely, 1/3 odds mean you profit a third of what you wagered. A $30 bet on 1/3 odds would return $40 total, or a $10 profit and your $10 original wager.
How does online betting odds work? For example, 3/1 odds mean you profit three times the amount you wagered. A $1 bet at 3/1 would pay out $4 in total, or a $3 profit and your $1 original wager. Conversely, 1/3 odds mean you profit a third of what you wagered. A $30 bet on 1/3 odds would return $40 total, or a $10 profit and your $10 original wager.
What does odds of 10 to 1 mean? Whenever you see two numbers separated by a slash, i.e. 10/1, this is a fractional betting odd. Fractional odds allow you to calculate how much money you will win on your bet in comparison to you stake. The number on the left(e.g. 10) is how much you will win. The number on the right is how much you need to stake.
What does 130 odds mean? If you were to bet $10 on +130 odds you would receive $13.00 in profit if this outcome won. Odds accompanied with a positive sign (+) indicate that this is the underdog and this outcome will have a lower chance of winning compared to a favorite, however underdogs will yield a higher profit if they win.
What is the payout for 130 odds? This means that if you bet $100 on a match with odds of +130 that when the bet wins you will receive $130. On the flip side, the negative odd indicates that on a bet with odds of -130 that you must bet $130 in order to win $100 on a winning bet.
What does minus 170 odds mean? The numbers next to the teams, such as +150 and -170 in the example above, represent the money line payouts, and they're connected to the calculated odds. The negative number shows how much has to be risked to win a $100 payout.
What does minus 320 mean in betting? Point Spread We'll set the scene with an NFL football example: The surging Tampa Bay Buccaneers are playing the struggling Dallas Cowboys. The moneyline is set at “Buccaneers -320” meaning the Bucs are heavy favorites and you'd have to bet a whopping $320 just to win $100.
How do you read Vegas betting odds? As stated, a negative number means the bookie sees the outcome as more likely. The number gives you how much you would need to bet to win $100 in profit. A positive number indicates the underdog. The number shown in the betting odds tells you how much you would win if you bet $100.
What does 1000 mean in Vegas odds? +1000 betting odds means you risk $100 to win $1,000. Sides with + odds are longshot underdogs. You'll see +1000 odds in futures betting markets and with the occasional moneyline bet with a heavy favorite.
What does plus 900 odds mean? To win $100 on a -160 favorite, you would need to risk $160. What does +700 mean in betting: If a team is +700 in a game, it means they are underdogs with 7/1 odds of winning. A $100 winning bet would pay out $700. What does +900 mean in betting: If you wager on a team at +900 you would win $900 for every $100 you bet.
What is +130 odds? If you were to bet $10 on +130 odds you would receive $13.00 in profit if this outcome won. Odds accompanied with a positive sign (+) indicate that this is the underdog and this outcome will have a lower chance of winning compared to a favorite, however underdogs will yield a higher profit if they win.
How do I calculate my odds? To convert from a probability to odds, divide the probability by one minus that probability. So if the probability is 10% or 0.10 , then the odds are 0.1/0.9 or '1 to 9' or 0.111.
How do you use the odds? The number that follows the negative symbol (the odds) reveals how much to bet for every $100 you want to win. For example, as explained above, if the team you're betting has -110 odds, you need to wager $110 to win $100. If your team has -150 odds, you must risk $150 to win $100.
  • How are odds paid out?
    • For example, 3/1 odds mean you profit three times the amount you wagered. A $1 bet at 3/1 would pay out $4 in total, or a $3 profit and your $1 original wager. Conversely, 1/3 odds mean you profit a third of what you wagered. A $30 bet on 1/3 odds would return $40 total, or a $10 profit and your $10 original wager.
  • How do you read the odds?
    • Negative numbers signify the favorite on a moneyline bet. The negative number indicates how much you'd need to bet to win $100. If there's a positive number, you're looking at the underdog, and the number refers to the amount of money you'll win if you bet $100.
  • Why do odds go up and down?
    • Sporting events and financial markets do not offer the same controlled certainty, so the chance (or odds) on a given outcome can, and will, change in the time before it starts. A number of factors can affect odds but the primary drivers for these changes are: New Information - Team selection, injury news etc.
  • Why do people say what are the odds?
    • If something strange happens people often say, "What were the odds of that?", which means: "I can't believe that happened.
  • What do negative odds mean?
    • What Does It Mean When Odds Are Negative? Negative numbers (in American money line odds) are reserved for the favorite on the betting line and indicate how much you need to stake to win $100—you generally need to put down more to win $100 on the favorite.
  • How do sports odds work?
    • Negative numbers signify the favorite on a moneyline bet. The negative number indicates how much you'd need to bet to win $100. If there's a positive number, you're looking at the underdog, and the number refers to the amount of money you'll win if you bet $100.
  • How do you calculate sports odds?
    • For an underdog, the equation is 100/(odds +100) x 100. So a +150 underdog would be calculated as 100/(150 + 100) x 100. That equals 40, meaning a +150 underdog has an implied win probability of 40 percent. For fractional odds, the equation is denominator/(denominator + numerator) x 100.
  • How does sportsbet set odds?
    • They are set by bookies as a representation of what they believe the chances of a specific outcome occurring are. Odds in their purest form are simply just a reflection of what the probability of a particular event happening is.
  • What is a +1 spread in betting?
    • A plus sign (+) in front of the handicap indicates an underdog. The 49ers are the +1.5 underdog in this game, meaning oddsmakers believe they will lose, but only by a point. To win this point spread bet with the 49ers, San Francisco would need to win the game outright or lose by one point exactly.
  • What does +110 odds mean?
    • If the odds offered on a particular selection are -110, that means in order to 'win' (profit) $100, you would need to wager $110. If the odds are +110, it means that if you wagered $100, you would 'win' (profit) $110.
  • What does 1200 odds mean?
    • What does odds of +1200 mean? If you were to bet $10 on +1200 odds you would receive $120.00 in profit if this outcome won.
  • Do you lose money on negative odds?
    • The negative number shows how much has to be risked to win a $100 payout. Thus, if the money line for the team that you picked was -400, it means that if you placed a successful $400 bet, you would gain $100 on payout. This means that the bettor would have risked $400 and ultimately gained $100.
  • How are Vegas odds calculated?
    • Oddsmakers will set the lines according to the implied probability of either outcome happening. The sum of the probabilities exceeds 100%, as sportsbooks take a small cut on both sides of a line. Second, sports betting odds dictate how much money a bettor needs to wager to make a certain profit.
  • How do Vegas odds pay out?
    • The higher the number, the more heavily favored (or disfavored) the pick. If the number is negative, it shows the amount you'd have to stake to win $100 in profits. The higher the odds, the more you'd have to bet to win $100. If the number is positive, it shows how much you'd win if you bet $100.
  • Who sets the lines for sports betting?
    • Head oddsmaker Sportsbooks typically have a head oddsmaker overseeing the odds and lines for games. This oddsmaker relies on sources such as computer algorithms, power rankings and outside consultants to set prices.
  • What does the line mean in sports betting?
    • A betting line refers to the odds that a sportsbook lists for a wager. All available betting options will have lines. By understanding the lines and what they're telling you, you'll be better equipped to make betting decisions.
  • How does betting on sports work?
    • Sports betting is simply the act of risking money on the outcome of a sporting event or any aspect of a sporting event. The goal is to turn a profit. Sports betting includes wagers on the moneyline, spread, over/under, parlays, props and futures.
  • How does Vegas always win sports betting?
    • The main reason the house always wins in sports betting is because it can charge an additional tax on all bets, known as the juice. Standard juice is -110, meaning you have to pay the house an extra 10 cents on every dollar you bet.
  • Who makes the NFL betting lines?
    • The sportsbook The sportsbook sets a line, such as 48.5, and bettors decide whether the game will go over or under that total. Moneyline: The moneyline removes the point spread. Bettors take a team to win straight up.
  • How do you calculate betting rates?
    • Fractional odds Fractional odds represent the potential profit in relation to the bet. Fractional odds are shown as a fraction, i.e., 3/1 or 5/2. To calculate the odds, the formula is Denominator / (Denominator + Numerator). Example: 2 / (2 + 5) = 0.285 (or 28.5 %).
  • What do odds of +100 mean?
    • If the odds were even (also represented as +100 in American sports betting), an $11 bet would have a payout of $11 (so a total return of $22). But at -110 odds, an $11 bet pays out $10 (total return of $21).
  • How much do I win if I bet $100 on odds?
    • Decimal odds explained For example, a $100 bet made at decimal odds of 3.00 would return $300 ($100 x 3.00): $200 in profit and the original $100 amount risked. A $100 bet made at decimal odds of 1.50 would return $150: $50 in profit and the original $100 amount risked.