Sports Betting Odds Explained: A New Bettors Guide

This explanation of betting odds seeks to demystify the process, even though the actual presentation (in real life) could seem complex. Point spread wagers also use moneyline odds, but they tend to be closer to even money. Instead, sportsbooks account for skill disparities between favorites and underdogs by imposing a points handicap on the favored team. Whatever the format, sports betting odds tell bettors how much they stand to win on a bet relative to the size of their wager.

Importance of Odds Comparison in Sports Betting

Without odds there is no betting and without betting, there are no odds. Similarly, if you keep up with the rugby union or rugby league seasons, then we have all of the tools to elevate your betting strategies on those sports too. Discover cricket odds with us today and enjoy wagering on the sport with more expertise than ever before thanks to the detailed information available through our tools. Develop an understanding of what other users are predicting for football matches in our match detail, while our stat based match facts can help you consider the form and trends for certain teams. OddsPortal gives you all that you could need for an enhanced betting experience, and to ensure that you receive the biggest payouts possible on your bets.

Basketball Betting Odds

The positive odds denote the bonus amount when a wagerer wins a bet, and the negative odds indicate the amount the bettor loses. Understand the different types of betting odds as well as what they represent (i.e., implied probability). In essence, betting odds are the probability that the bookmaker has specified. They represent the likelihood that the pick will win as well as the potential returns on winning wagers placed at those odds. For people who have never wagered before, understanding betting odds is a fundamental first step. This information is essential because it makes it possible to assess the likelihood of an event occurring and the possible profits from a wager.

• The probability is “implied” because it’s derived from the odds rather than real-world factors like team performance or player statistics.
• In essence, betting odds are the probability that the bookmaker has specified.
• The two are inversely related, meaning that as one increases the other consequently decreases.

Personally I prefer this format to US odds, as it’s more useful to calculate profit in terms of $1 units rather than $100. Decimal odds are the default format across Europe — hence the name “European Decimal Odds”. They’re the easiest and most transparent odds to use, and the go-to format for most professional bettors and traders. Looking at these figures, whether fractional, decimal or American, can often be pretty intimidating, but it’s actually pretty straightforward.

Fractional odds (e.g., 5/1, 2/1, 10/11) are common in the UK and especially for horse racing. Remember, successful roobetofficial.com futures betting requires a blend of research, analysis, patience and prudent decision-making. If the decimal odds are less than 2.00, the moneyline is negative (-). If the decimal odds are greater than 2.00, the moneyline is positive (+). So, a $100 bet on Red Sox at +120 odds wins $120 in profit, and the total payout (profit + original bet) is $220.

Sports betting odds comparison – find the best betting odds

The betting favourite comes with a minus symbol (-), the higher the absolute value of the number, the bettor the chance the traders give for that team or individual to win. For example, a -200 favourite has been calculated to have a better chance to win that a -120 favourite. However, what we are looking at here is the different ways in which odds can be expressed. With results, standings, bet predictions, and the best betting odds, you can enjoy placing wagers and improve betting strategies with greater knowledge on any sport than ever before with OddsPortal. In addition to pre-match markets being available, you can also find live odds and keep up to date with live scores in your favourite leagues or tournaments. Once you convert your odds, from whatever format you use, into decimal odds then you can very quickly convert them into a implied % value.