Sports Betting Odds Explained
Thanks to all authors for creating a page that has been read 862,106 times. Continuing the example above, say I placed $110 on Boston, and they win on a 4-point spread. Because they won by the spread, I would make $210 ($110 + $100). Try out an online to check your math when you first get started.
The variations can take some getting used to, but we’ll give you a breakdown on each format of betting odds explained. For every $1 wagered on a team with +200 odds, $2 will be paid out. Odds of +200 or greater are offered on teams that are not expected to win a game. There are a few different variations of Vegas odds boards, but as long as you understand spread, moneyline, and total bets, you’ll be able to find what you’re looking for.
To calculate fractional odds, you have to do some mental division or enter your desired amount and see what the sportsbook shows as your payout. Here are some odds for a fictitious horse race and how you’d go about reading them. Total odds How to read it Over 7 (-115) In order to win $100, you must bet $115 on the overall combined run score to be higher than 7. Under 7 (-110) In order to win $100, you must wager $110 on the total combined run score to be less than 7. The “-13” 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.
When a positive point spread is given to a team, it means they are not expected to win the game. The bookmaker has offered odds of +585 for Syracuse, which indicates that the bookmaker has placed a much lower probability (about 15%) on Syracuse winning the game. One needs to risk $100 on Syracuse to make a potential win of $585. If Syracuse can pull off the upset, one gets back their initial stake of $100, in addition to the $585 won, giving a total payout of $685.
To be able to make any consistent money betting on sports, it is essential to understand everything that goes into making a betting line. Decimal odds are used in most countries outside of North America, so we include decimal odds on our site for punters. If you bet on Jones at -205 you need to risk $205 to win $100 profit and if you bet on Rua to win you’d win $165 profit for every $100 you bet. Using our 60% example, we need to check to see if the odds are going to allow us to be profitable if Jones does win 60% of the time in this fight.
So if you bet $130 on San Francisco -3 and they win by 4 or more, you win $230 ($100 plus you money back). This extrapolates up and down, so you would bet $13 to win $10, or $13,000 to win $10,000. Also, depending on how the betting is affected by jurisdiction, taxes may be involved for the bookmaker and/or the winning player.