How Do Sports Betting Odds

The latter can be said as ‘50 to 1’, meaning you’d earn $50 for every $1 you’d earn. The 1/3 odds, stated as ‘3 to 1 on’ show that you have to bet $3 to earn $1. Fractional odds are more often used at UK sites, but you may occasionally find them at US sites. Hopefully this page has provided you with enough information to understand how American odds work.

After years of success, they lost many pieces from a once-elite offensive line and QB Ben Roethlisberger may be on his last legs. Still, they put together an elite defense last season, so the market sees them quite competitive with the Browns. In fact, it believes home field completely negates the Browns’ talent advantage. The Browns enter 2021 off a breakthrough season in which they won a playoff game in Pittsburgh.

For example, you could get paid +150 betting Yankees -1.5 against the Red Sox, and have to risk -200 for Red Sox +1.5 in that same game. Since the moneyline just requires you to pick a winner, we only need the odds. At +200, a winning bet on Penn State will pay you $2 for every $1 risked.

In our example, if the score ended up being something like 34-32, then the combined score would be 66, exactly the predicted total. In these cases, no one wins the bet, and you would simply get your money back. To avoid these situations, sportsbooks will often set the total at a half number, like 66.5. This way, if the final combined score was 66, it would be an under, and a 67 would be an over.

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. There are two ways to calculate each, based on either how much you want to wager or how much you want to win. The basic formulas vary slightly depending on if you’re betting a favorite or an underdog.

If we take the example of football, NFL moneyline point spread odds are often set at 1.91, but of course, the pricing can vary from one provider to another. By setting a money line spread, it ensures the provider sees a small amount of money come back to them over time. Take a look at our betting site basics guide for more information regarding this term, or check out our complete glossary of sports betting terms.