Sports Betting 101
If the score was Cincinnati, a bet on the Bengals would win by a half-point. If a push occurs and hasn’t been bet on, then you’ll just get your money back, as it’s considered neither a win nor a loss. Calculating your payout for fractional betting is really quite easy.
This guide will teach you how to read odds for moneyline, total and spread bets. We will be looking at American, decimal, and fractional odds, which are three different ways of writing the same odds. San Antonio at -7.5 is favored by that amount, while Dallas is a 7.5-point underdog at +7.5. If you bet on San Antonio at -7.5, a bet would only win if they win the game by 8 or more points. A bet on Dallas would win if they won the game straight-up or if they lose by 7 or fewer points.
However, not all fractional odds are traditionally read using the lowest common denominator. For example, given that there is a pattern of odds of 5/4, 7/4, 9/4 and so on, odds which are mathematically 3/2 are more easily compared if expressed in the equivalent form 6/4. The use of odds in gambling facilitates betting on events where the relative probabilities of outcomes varied. For example, on a coin toss or a match race between two evenly matched horses, it is reasonable for two people to wager level stakes. A listed odd with a + sign in front of it, such as the +120 in our example above, shows us how much money you would win on a $100 bet. Using the +120 odds, it shows us that a $100 bet on that outcome would pay out $120 in profits.
The probability represented by betting odds is often referred to as the ‘implied probability’. Because you should only bet when you believe the probability of an outcome occurring is higher than the implied probability. But if you would like to learn more about betting odds and alternative odds formats, try this odds converter. Teasers are similar to parlays in the sense that they bundle multiple wagers together, affecting your overall betting odds. Learning how to read odds is the foundation of developing a successful sports betting strategy.
Generally speaking, the moneyline is a pretty good option for bettors. They are an intuitive and easy way to understand the market for novices. In any case, the bettor must estimate San Francisco’s chances of winning to be higher than the 79.16% quoted above in order to make a bet with a positive expectation (+EV). That is, the bettor must clear the bar of not just the no-vig probability, but the probability with vig included, in order to expect a profit.
Again, there are a bevy of other bets in baseball other than who will simply win the game. But they all take place on the money line, the key to being able to at least understand baseball betting. Above you see a money line wager, where you simply pick who will win the game, with no mind being paid to point spreads. With money lines, remember that plus signs mean underdogs and minus signs mean favorites.
This juice is a way to discourage gamblers from wagering on a heavy favorite. If the Golden State Warriors are listed at –500 to win the NBA championship, a successful $500 wager would only net $100. We’ll start with the American way, and give you some betting odds examples so you know exactly what you’re looking at the next time you want to make a wager. The method of determining probability from U.S. odds format differs, dependent on whether that number is positive or negative. If you are new to sports betting, all the numbers and odds figures can be a little confusing.
After all, they usually offer a much larger return than a straight bet. Finally, betting the moneyline aligns the team or athlete’s interest with your own interest. When considering whether to bet a moneyline, one must figure out the implied market probability and determine where the bettor’s estimated probability stands in relation to that number. Notice the “gap” between the two numbers in San Francisco vs. Detroit.
If the team’s goal was to cover the spread, they would obviously kick a field goal. They’re either going to score a touchdown and win the game, or they’re going to lose and fail to cover the spread. The payouts for the moneyline wagers vary depending on the respective competitors’ perceived strength in the betting market.