How To Read Odds In Sports Betting
Money line odds – These are by far the most common form of odds in North America for sports betting. They are expressed as numbers greater than 100, and they can be either a positive or negative number. There are also ‘total’ wagers that refer to the total amount of points scored by both teams. In the above example, the total, or “over/under,” in the Bills-Jets game is 49. You can bet whether the final score will come in over or under that total by laying $110 to win $100.
Here are some odds for a fictitious horse race and how you’d go about reading them. When the odds for two teams are even, meaning 1 to 1, it means that each team is equally as likely to win the game. If Team A is assigned 2 to 1 odds, it means Team B is twice as likely to win. If Team A is assigned 10 to 1 odds, it means Team B is ten times as likely to win. Note that in soccer, where ties are quite common, books usually offer three-way markets – each team to win or a draw. If you bet into these three-way markets , understand that your bet grades as a loss if the game draws.
Check out our guide and have all of your questions on betting odds explained below. For instance, a bet could be placed on the New York Yankees to cover the spread and the New England Patriots’ money line odds to win. In the above ND vs. MIA betting line, the second column contains the money line odds.
The higher the odds are, the more you will win, relative to your stake. A study on soccer betting found that the probability for the home team to win was generally about 3.4% less than the value calculated from the odds (for example, 46.6% for even odds). It was about 3.7% less for wins by the visitors, and 5.7% less for draws. When moneyline odds are positive, the figure indicates how much money will be won on a $100 wager .
This sports betting guide will help you understand why odds look like they do and what they mean. Michigan passed legislation to allow sports betting in December 2019 and the first physical sportsbooks opened in March 2020. Michigan passed legislation to allow sports betting in December 2019 and the first physical sportsbooks opened March 2020.
Know that odds at the track tell you amount of profit you will make per dollar spent. In other words, for every $5 you bet you can win $3 in profit.To determine profit, multiply the amount you bet by the fraction. If I spend $15, then my profit for winning is $9 (15 x 3/5).
If you have Texas early as a 5-point favorite, and I move the line to Texas –7 later in the week, then you can also place a bet on Wisconsin +7. If Texas happens to win by six points, both your bets cash in. Texas winning by either five or seven gives you a win and a push. Any other result creates a win and a loss, so you’re only risking the vigorish.