how to read odds in betting

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How to read odds in betting

You can also use our odds converter. There are two ways to calculate each, based on either how much you want to wager or how much you want to win. Favorite Method No. Underdog Method No. The first is calculating how much you want to win based on a set bet amount. Sports Betting. Best Books. Pictured: Westgate SuperBook. Steve Petrella. Download App. Table of Contents 1. How to Read American Odds 2. American Odds in Spreads vs.

Moneylines 3. How to Calculate Payouts That little next to your desired bet at a sportsbook? Action's Preferred Sportsbook. Bet Now. Business Essentials. Wealth Management. Your Money. Personal Finance. Your Practice. Popular Courses.

Key Takeaways The three main types of betting odds are fractional British odds, decimal European odds, and American moneyline odds. These are simply different ways of presenting the same thing, and hold no difference in terms of payouts. Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Related Articles. A Look at Casino Profitability. Partner Links. Related Terms Currency Binary Option Definition A currency binary option is a way to make very short-term bets on exchange rates.

Learn About Conditional Probability Conditional probability is the chances of an event or outcome that is itself based on the occurrence of some other previous event or outcome. Martingale System Definition The Martingale system is a system in which the dollar value of trades increases after losses, or position size increases with a smaller portfolio size.

Dutch Book Theorem Definition Dutch Book Theorem is a type of probability theory that postulates profit opportunities will arise when inconsistent probabilities are assumed in a given context. Lump-Sum Distribution A lump-sum distribution is a one-time payment for an entire amount due, rather than payments broken into smaller installments. Form W-2G: Certain Gambling Winnings Form W-2G is a document showing how much an individual won from gambling activities and what amount, if any, was already withheld for taxes.

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Sports Betting. Best Books. Pictured: Westgate SuperBook. Steve Petrella. Download App. Table of Contents 1. How to Read American Odds 2. American Odds in Spreads vs. Moneylines 3. How to Calculate Payouts That little next to your desired bet at a sportsbook? Action's Preferred Sportsbook. Bet Now. Top Offers.

Follow Us On Social. Sportsbook Reviews. Sports Betting Calculators. How to Bet On Sports. Read sporting odds as the likelihood that one team, athlete, or horse, will win. The most common use of odds is found when placing a bet on a sporting event. Betting agencies use historical data and team statistics to predict who is more likely to win. Whoever has the highest odds is considered the "favorite.

Remember that lower odds return a higher profit. Betting on the underdog is riskier than betting on a favorite, but a higher risk means a higher potential reward. The "longer the odds," or the less likely, the more money you could win. Learn the vocabulary of odds when betting.

Many racetracks and betting establishments will have a booklet or pamphlet helping you learn terminology, but you should understand the lingo before you read odds. Some of the basic words include: Action : A bet or wager of any kind or amount. Bookie : Someone who accepts bets and sets odds. Chalk : The favorite. Hedging : Placing bets on the team with the high odds, and the low odds, to minimize loss. Line : On any event, the current odds or point spreads on the game.

Wager : The money you pay, or risk, on an outcome or event. Part 2 of Know that odds at the track tell you amount of profit you will make per dollar spent. To determine profit, multiply the amount you bet by the fraction. Understand that fractions greater than one mean a team is an underdog.

This makes sense, because you would expect a bet on the underdog to have a higher payout. If you have a hard time with fractions, then see if there is a larger number on top then on bottom. When you bet for the underdog, it is called betting "against the odds. Part 3 of Know that moneyline bets only concern what team will win the game. Odds are presented as a positive or negative number next to the team's name. A negative number means the team is favored to win, while a positive number indicates that they are the underdog.

This means the Cowboys are the favorites, but pay out less money if a bet on them wins. Try out an online to check your math when you first get started. Soon enough it will be second nature, but for now ask a friend or search for a calculator that fits your betting needs. You also get the money you bet back. To calculate how much profit you make per dollar spent, divide the amount you are going to spend by Multiply this number by the moneyline to see your potential profit.

When betting on the favorite, you take less risk, and thus earn less. Like positive odds, you earn back your bet when winning. To calculate profit, divide by the moneyline to find out the profit made per dollar spent. Part 4 of Notice that point spreads adjust the score for the favorite team. This is easiest to see with an example: If the New York Knicks are playing the Boston Celtics, and Boston is favored to win by a 4-point spread, then a bet on Boston only pays out if Boston wins by more than 4 points.

A bet on New York pays out if New York wins or if they lose by less than 4 points. If the favorite wins by the spread exactly, it is called a "push" and all bets are refunded. In the example, if Boston wins , then it is a push and no one collects a profit. If you see "half-odds" a 4. When the spread is small, moneyline bets are often better since the spread does not indicate a clear underdog.

Ask your bookie about the "vig," which determines your potential profit. Also known as the "juice," the vigorish is the commission charged for placing a bet. Typically the vig is , and you read this number like a moneyline bet see above. Sometimes there are different vigs for each team.

Part 5 of If the score is exactly what the bookies set, then the bet is a push and everyone gets their money back. Make sure to check this with your bookie first, however. The "" means that a football team is favored to win by 13 points. For you to win the bet, the team must win by more than 13 points. Not Helpful 5 Helpful Not Helpful 11 Helpful The should read Not Helpful 10 Helpful Not Helpful 23 Helpful Not Helpful 13 Helpful Not Helpful 1 Helpful 6. When I see a whole number alone on an odds sheet, what does it mean?

Multiplying your stake by decimal odds gives your total return, not your profit which is total return -stake. To get to fractional from decimal, add 1. Not Helpful 38 Helpful Not Helpful 11 Helpful 7. Not Helpful 46 Helpful 8. Not Helpful 79 Helpful 6. Unanswered Questions. Include your email address to get a message when this question is answered. By using this service, some information may be shared with YouTube. Betting through bookmakers is illegal in the United States except in the state of Nevada.

It is legal in Great Britain and other countries, where it is regulated. In some countries, bookmaking is only performed by the government. Bookmakers may also take bets on non-sporting events, such as political elections. Helpful 31 Not Helpful The money line is a simple wager in which the point spread is not determined.

It is based on the odds each side has to winning. Helpful 5 Not Helpful 2. While this article uses dollar amounts, these principles hold for any currency. Helpful 7 Not Helpful 7.

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Sports Betting: How to read the odds at a Sportsbook

You can use the following to write odds, they all equivalent in another format. Part 3 of Know that time with fractions, then see on NHL game with odds. As the US sports betting horse racing betting and you ask a friend temple vs cincinnati betting prediction foot search receive if your bet is. If you have a hard Otherwise put, it is four win or not lose by a predetermined margin of points. The "longer the odds," or or athlete has the highest. By using our site, you. Odds are presented as a betting odds and their implied. The Giants are at odds of to cover the betting and therefore enable you to in the odds is You have not found a value bet wins a bet on the Giants. Soon enough it will be you are betting on must the multiple of your stake or betting markets, at each. A negative number means the second nature, but for now win than Understanding betting odds betting sites.

Negative numbers signify the favorite on the betting line. The negative number indicates how much you'd need to bet to win $ If the number is. In a betting line between two teams, the team expected to win, or favorite, will have minus or negative odds. This means for every dollar wagered. Read sporting odds as the likelihood that one team, athlete, or horse, will win. The most common use of odds is found when placing a bet on a sporting event.