How To Read Odds
Be aware of this when looking for live betting value on the moneyline. If the team’s goal was to cover the spread, they would obviously kick a field goal. They’re either going to score a touchdown and win the game, or they’re going to lose and fail to cover the spread. As a general rule, one should expect fairly low vig in moneyline markets compared to many other types of bets like props and futures.
There is no true answer, as it’s mostly based on what region of the world the sportsbook caters to. It’s all about being sure you’re able to understand what they mean. Many online sportsbooks have options to alter the odds format based on preferences.
American Odds – This is the most common odds format used by North American bettors. It involves positive (+) or negative (-) signs indicating whether the potential payout will be greater than or less than the wager amount. Positive (+) signs indicate the payout will be more , while negative (-) signs indicate the payout will be less . Beside positive (+) signs the number indicates how much a $100 wager would win and beside negative (-) signs the number indicates how much must be wagered to win $100. Understand that negative odds indicate how much money your must spend to make $100. When betting on the favorite, you take less risk, and thus earn less.
Many bettors will want to convert fractional odds to moneyline odds or decimal odds to American odds, etc. This can be done using some basic math, but in today’s bookmaking age, it’s not necessary. Depending on what part of the world you’re betting from, you’re likely to become accustomed to one form of betting odds or another. Online sportsbooks these days will offer their customers odds in several formats, but it’s important to understand each odds format. Many popular wagers, including most point spread bets, will see both sides with negative odds. Because the point spread serves to level the playing field between two sides, you’ll often need to risk more than you profit when betting on the spread.
This is why it can be helpful to wager on a sport you’re a genuine fan of, or at least do your research before placing your bet. Colorado legalized in-person and mobile sports betting November 2019 after a bill was signed by the governor and then approved by voters. Iowa legalized sports betting in 2019, becoming the 11th state to pass a bill. Iowa legalized sports betting in May 2019, becoming the 11th state to do so. Sports betting is not legal in Maryland, but residents voted Yes to legalize sports gambling in the November 2020 election. As of 2020, there are 21 states (and Washington D.C.) that have legalized sports betting.
If it’s a minus (-105, -210, -350), you will have to bet more than $100 to win a $100 payout. Enter $25 as the win amount and -130 as the moneyline into the following formula. You’ll arrive at $32.50, meaning you need to risk that much to win $25.