Understand Decimal Odds
Read on to see an explanation of how to read odds in any of these formats. The variations can take some getting used to, but we’ll give you a breakdown on each format of betting odds explained. Since the end of the federal prohibition on sports wagering, several states have legalized sports betting.
Based on 34,000 data points from over 1,700 individual bets, we found the following sportsbooks offer the best odds on moneyline bets. Keep in mind for both spreads and totals that if the game ends in a draw for the bet , then you get your bet back but do not win or lose any additional money. Here’s what American odds look like for spread, moneyline, and total bets. In this matchup, there is a big difference between the two odds, indicating a much higher probability of Duke winning the game and advancing to the next round of the NCAA Tournament.
For example, with 10/1 odds, you win $10 with a bet of $1, plus your stake returned. American odds are sometimes referred to as US odds, or moneyline odds. You will find prices in this format at all legal US sportsbooks. You have not found a value bet and should not place a bet on the Giants. You don’t need to be a math genius to succeed in betting on sports, but if you do not understand what betting odds reflect, you are setting yourself up for failure.
Check out the earlier parts of this guide to see the different formats of betting odds explained and learn how to estimate your potential winnings. Having knowledge about the raw math behind betting odds explained is useful, but of course you want to know about your potential payout too. Each different format for betting odds will have a different formula for calculating your winnings. Just like in all the betting odds explained in this guide, the higher your risk, the higher your potential payout.
Knowing what you now know, you can quickly realize how much a moneyline wager would make you based on American odds. The bigger the difference between the teams, the bigger the gap between lines. American odds, often referred to as US odds or moneyline odds, are the lines most commonly used in the United States and Canada. Things like this happen because a sportsbook wants to reduce risk to guarantee a profit. When incoming betting shows an imbalance of public opinion the casino will do whatever they can to tip the scales back to even avoid a potentially big loss. The number next to the minus sign is the amount you must bet to win $100 in profit.
“I was reading about the McGregor-Mayweather fight, so I wanted to understand all the talk surrounding the betting. Thanks to all authors for creating a page that has been read 859,236 times. So for -175 you pay $175 to get $100 (in addition of your initial bet $275 in total) and for +225 you get $225 when you bet $100 ($325 in total). 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).