How To Understand Betting Odds
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. In a professional sports matchup, a point spread is given to each team for sports betting purposes. When a negative point spread is given to a team, it means they are favorited to win the game. When a positive point spread is given to a team, it means they are not expected to win the game. For example, if the Kansas City Chiefs are minus three (-3) against the Los Angeles Rams (+3), then it is expected that the Kansas City Chiefs will win the game and that Los Angeles will lose. Understanding how to read odds is crucial to betting on sports.
NFL betting is the most popular form of sports betting so many people will be dealing largely with NFL odds. Sports bettors will largely be dealing with point spread bets and moneyline bets, which we will explain below. Fractional odds allow you to calculate how much money you will win on your bet in comparison to you stake.
Whenever you see two numbers separated by a slash, i.e. 14/1, this is a fractional odd. Decimal Odds are most popular in Europe, Australia and Canada, and many think that they’re the easiest format to understand. The bookmakers look a lot at the other competing bookmakers’ odds.
American sports bettors are certainly some of the most capable bettors out there, as they deal with rather complex representations of probability and potential winnings. There’s another reason to bet the underdogs on the moneyline as well. The moneyline, then, is a powerful situational tool for people who closely follow the NBA.
Even on the road, the 49ers figure to have a great chance of coming away with a win here. Thus, one must bet $380 to win $100 (bet would return $480 total – the winnings and the stake). Lions upset believers can wager $100 to win $290 (bet would return $390 total).
Again this can easily be converted into smaller or larger size bets. Welcome to the Sports Betting Odds section of The Sports Geek. If you are new to sports betting and don’t understand how to read betting odds (+150, -110, +2200, etc) we will lay it all out for you and help you learn how the betting odds work. Bookmaker’s interest – In order to guarantee a profit for the house, a bookie needs to create even action on both sides of a particular game. In a perfect world the bookie would have 50 percent of the handle come in on the underdog and 50 percent on the favorite. This ensures that the sports books are guaranteed a profit because of the 10 percent commission or “vigorish” charged on most sports wagers.
In order for the parlay to win, each separate bet has to win. Parlay odds offer bigger payouts than normal odds because they are riskier, since each individual bet has to win. 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. You’ll notice in the example above that odds are not given for the spread and over/under bets. While you can assume the odds are likely between -130 and +110 for each side, you’ll have to ask the cashier or look at your betting ticket after placing the bet.
A Taker can dispute any outcome but are required to hold 5% of their bet in escrow aside to prevent the Taker from making false disputes. To prevent a Maker from submitting false results, Makers have an escrow fee of 10% of their bet set aside in case of a dispute by the Taker. Anyone can accept part of or a whole bet created by a Maker. By eliminating the bookmaker, ZenSports has essentially created a marketplace for which every bettor plays a role in creating a fun, decentralized ecosystem for everyone involved.