Sports Betting Odds Explained
Team props usually will have odds similar to those from the spread or over/under. Player props are bets in which you bet on specific players instead of teams. Player props can come in all different forms such as how many points a player scores, the first scorer, and whether that player records a certain stat.
However, the odds don’t reflect only the probability of an outcome — they also reflect the bookmaker’s own risk. Any fixed-odds bookmaker wants to ensure that each outcome is backed appropriately so they can make a profit, no matter which way the game goes. While you may be gambling with your own money, the bookmaker sure doesn’t want to gamble on one outcome over another. To convert moneyline odds to decimal odds, you need to break them down by positive and negative odds. You can also use fractional odds to calculate how much you can win for every unit you’ve staked.
Sharp bettors are informed bettors, and not all sports are created equal. Consider checking out our comprehensive guide covering how to bet on sports before you lay down your first wager. There are three different ways in which sports betting odds can be displayed.
You need to know what you’re doing before you start so that you don’t lose a fortune. This is referred to as the juice or vig on a bet and can be anywhere from 5% to 20% or more. For this reason, a bet that’s seen as a 50/50 choice typically has a line of -110 on both sides — if you win, you double your money, minus the 10% the house takes. The closer to 100 the odds, or line is, the closer the contest is expected to be.
Our editorial team ensures we only release quality articles that are readworthy. In other words, your bet will result in a $50 win + $20 bet, which will together amount to a good $70 payout. This is essentially all you need to know about American odds on the face of it.
In terms of the betting, a bettor would need to bet a staggering $5000 to win $100 . Obviously, a bet on Virginia would pay out better than a bet on the Clemson Tigers, but it’s a risky bet and not for the fainthearted. A future is a bet on which team you believe will win a division, conference, league, or championship game. For underdog, then the potential win is the betting odd number plus the stake you have. It is quite similar to Moneyline in that it shows which odds are the favorite and the underdog.