Betting odds are of different types. Knowing about betting odds is an essential part of sports betting. If you do not have an in-depth idea regarding how betting odds function, then investing in any sports book will provide severe losses to you at the end of the day.
The three popular betting odds that you must be acquainted with include the European decimal system, the American money line system and the British fractional system. This article is here to tell you all that you need to know about the betting odds and how to interpret them. This will bring in enough easy money, give you the adrenaline rush you want and provide you with the necessary information to not get severe losses while participating in sports betting.
How to Read Betting Odds?
For a career in sports betting where you want to be successful and not lose a large chunk of bankroll, knowing how to read betting odds is essential. If you know enough mathematics, then reading betting odds is not that difficult. If we take a look at American odds, then you have to focus on the sports betting sites in the US. There are various titles there. These include team, money line, spread and even total. Usually they are in all 100 and have a plus or minus attached to them.
In the American betting system, everything is in 100 because the bets are all placed in the ratio of 1:1. For each $1 that you wager, you get $1 if you win. If there is a plus attached to the bet, then for every $100 that is bet, you get $100 back. In case there is a minus sign attached to the bet, you will have to bet an amount greater than $100 to win $100.
To make sure you do not get defrauded out of your money, make sure to engage in sports betting only on reputed and registered platforms which have good user reviews.
How Do Odds Work?
What are betting odds? Odds represent the outcomes or results of a sports game. These include who wins, which events will take place and the points taken together. The three types of betting odds include European, American and British. The type of bet differs usually but the payouts do not. Take a look at the various kinds of betting odds available in sports betting.
How British/Fractional Odds Work?
British betting odds are also referred as fractional odds. They are also called U.K. odds and even traditional odds. Fractional odds are popular amongst British and Irish sports books or bookies. They are usually represented via the symbols of (/) or slash and (-) or hyphen.
In a fractional odds listing of 6/1, betting odds would refer to the win of $6 against each $1 that you wager. The profit of $1 will be added to the wager and you will get a total amount of $7.
Here, the total return on a wager will be:
(S (N/D) ) + S where Tp is the complete payout
How American/Money Line Odds Work?
American odds are also referred to as money line odds. They are also called U.S. odds. The betting odds are created based on favourites. They are attached with the minus (-) sign. They refer to the amount you require to wager in order to win $100. The underdog bets are all accompanied by the plus (+) sign. These indicate the amount to be wagered for every $100 that you bet.
In the year 2018, the Supreme Court provided all the U.S. states with the right to engage in legal sports betting. In 30 states and Washington D.C., sports betting is completely legal. The other states are still deliberating as to whether sports betting will be legalised or not. The profit in American betting odds depends on the difference between the favourite and the underdogs in sports betting.
How European/Decimal Odds Work?
Also called digital odds, continental odds and decimal odds, European odds betting is popular in Europe, Australia, Canada and New Zealand. It is easy and the favourites and underdogs can be distinguished at the first instant. The potential return is calculated using:
SxD where Tp is the complete profit
What Are 7 to 2 Odds?
For every $2 bet, you win $7. This is applicable only if the bet is successful.
What Does +200 Mean For Odds?
With a (+) 200, the player would win a total profit of $300 ($200 + $100 first wager).
What Are Vegas Odds?
Vegas odds fall under the American money line section. They include a point spread and lets you get over and under bets.
What Does It Mean When Odds Are Negative?
When the odds are negative, you need to wager more. These are attached to the favourites.
Calculating Betting Odds
Sports betting sites calculate odds by including the amount pre-decided to be paid to the amount all the betting enthusiasts have paid. Sports betting sites try to make the house edge even with the profit for bettors.
F.A.Q.s
How do plus minus odds work?
Plus odds work on favourites where you need to wager more than the intended amount. Minus odds work on the underdogs where you get to wager exactly equal to the profit you make.
Is +200 the same as 2 to 1 odds?
Yes, +200 is the same as 200/100 or 1:1 odds.
Why are negative odds better?
Negative odds are attached to the underdogs. This means the profit is high. Also, you have to wager much less.