Did you know that an estimated 46 percent of American adults have some level of interest in learning how to bet on sports? The number of sporting events that you can place bets on seems limitless, but you’ll have a difficult time reaching the levels of success you desire if you don’t understand the odds in sports betting.
Learning how to read odds will help you make informed decisions and analyze the best matchups in order to win more money. It’s a great way to combine your love of sports with your love of adrenaline rushes and winning money.
Luckily for you, you’re in the perfect place to learn all about sports betting odds and pick up some helpful sports betting tips along the way. Keep reading this article to learn more today!
American Odds
American odds look a bit confusing on the surface, but they’re easier to understand if you remember that they’re based around $100. If you’re looking at placing a bet on a team that oddsmakers expect to win then you’ll need to bet the dollar equivalent of the number with the “minus” next to it. If the Chiefs were set with -1200 odds then you’d need to bet $120 in order to win $100.
If the number has a “plus” next to it then you can look at it through the lens of the amount of money that you’ll win if you bet $100 on the game. You also need to consider the money line when betting on certain teams. The money line is what determines how much money you’ll end up winning in the end with American Odds.
Fractional Odds
Fractional odds see a lot more use overseas when it comes to how to read odds in sports betting. They show up on paper as fractions, like 7-1 or 13-6. It’s a much easier system to use because you can multiply the bet that you want to place by the fraction that oddsmakers set in order to find out how much you’ll win.
If you bet $10 on a team that has 7-1 odds of winning, you’ll receive a $70 profit along with the original $10 that was placed when making your bets of the day. If the oddsmakers choose a favorite for a big game then that favorite will often have a denominator that is higher than the numerator.
Decimal Odds
Another great option to learn when you’re diving into sports betting odds is decimal odds. These odds are displayed as a number, and that number displays how much you would win if you won on a $1 bet. If you choose to bet on Huddersfield Town and they have decimal odds of 6, you’ll win a $5 profit along with the original dollar that you bet when The Terriers get the result against Manchester City.
They make a great alternative to fractional odds since the math can get a bit hairy in a hurry with fractional odds. You can get a much clearer idea of what you’ll stand to gain if you win your bet.
Plus and Minus Odds
Plus and minus sports betting odds are also common once you enter the world of betting on sports. The plus and the minus can refer to the point spread for a matchup or for the betting odds. It’s a common option when you start betting on NFL and NCAA football since it’s an easy way to denote which team is the favorite and which is the underdog.
If the Missouri Tigers go into their matchup with the Tennessee Volunteers listed at (-10) by oddsmakers then they’re expected to win by more than 10 points. At the end of the game, if Missouri is up by a score of 38-17 then you’ll win your bet. Placing bets on Tennessee at (+10) means that you’d win your bet if Tennessee loses by less than 10 points.
You’ll also encounter the plus and minus signs when it comes to betting on European football. It’s not uncommon to see both teams listed with a plus sign next to their odds. You need to look at these odds with the idea that the team with the lower number is the favorite.
You’ve set yourself up for a good situation by betting on either Liverpool or Manchester City if they both have a plus next to their names. As long as the team that you bet on comes out ahead you’ll end up walking away with a tidy profit in your pocket.
Over and Under Odds
Over and under odds are another option that you can place bets on when you learn how to bet on sports. Over and under odds are often associated with sports ranging from basketball to hockey as well as baseball and American football. In American football, these odds would look like a point total set by the oddsmakers along with a money line that is tied to it.
If the St. Louis Cardinals were suiting up for a playoff matchup against the Los Angeles Dodgers then you could see over and under odds like 9 runs. If the teams combine to score 14 runs and you bet the over then you’ll end up walking away with winnings from the bet.
It’s also quite possible that the two teams will combine for a measly 3 runs. If you bet the over and that happens then you’ll lose the bet. The only other option is the two teams combining to score 9 runs, in which case the bet would push. You get the money that you placed on the bet back if the result is a push, and you’re good to find another matchup to bet on.
Now You’re the Master of Odds in Sports Betting
It’s an impossible task to walk away a winner if you’re not an expert on odds in sports betting. There are a ton of different odds used out in the sports betting world, and you can’t make informed decisions on placing bets if you don’t understand what you stand to gain by winning. Knowing your sports betting odds will help you make a tidy profit while enjoying the sports that you love.
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