How To Read And Calculate Sports Odds
“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).
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.
They are calculated as the ratio of the number of events that produce that outcome to the number that do not. Not every sport has a draw option, and definitely not when it comes to American sports. Having an NBA or NFL team finish with the exact score is an incredibly rare occurrence and will usually never be the case. To help you understand how you can calculate your winnings based on a bet amount, we will now cover the formula. If you are betting on the Miami Heat to win (+102) against Milwaukee Bucks (-121), you are essentially backing the underdog in the game.
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.
In a specific match between two teams or individuals, one will be considered the favorite. The favorite is the team “expected” to win, and it will be identified with a minus (-) symbol. The underdog, the team “expected” to lose, will be labeled with a plus (+) symbol. It’s important to note that these expectations are the product of previous bets made on or against a given team or individual.