What Do The Betting Odds Mean

They are calculated as the ratio of the number of events that produce that outcome to the number that do not. Free daily sports betting and DFS picks from a team of expert sports handicappers. Below is an example of NFL betting odds taken from an online betting site.

Here, the first number is the amount that can be won if the sum placed as a bet is equal to the second number. For instance, when the odds offered are 9/4 that a particular team or horse will win, the gambler needs to place $4 as a bet and can win $9 if they pick the winning team. The book maker will then have to pay the gambler $9 plus $4, that is, $13. This is because the amount bet has to be returned along with the amount won.

The major difference between teasers and parlays is that the book will allow the bettor to adjust the odds to their liking. Typically, a number is granted by the book that can be applied to the spreads involved in the parlay. Teasers operate identically to parlay wagers in that the bet types and the amount can vary, so long as the total combined bets equal two or more.

Typically during breaks in the action, sportsbetting sites will post in-game lines. In theory, the closing line represents the most accurate picture of the probabilities in the event. To look at some real-life examples, let’s check out some games from the 2021 NFL season. We’ll look at how the moneyline varies from three different matchups, with lines from DraftKings Sportsbook. The first two come from Week 1, with the final one coming from way down the road in Week 17. In other words, if it’s Cincinnati, a bet on Pittsburgh would win by a half-point.

You’re most likely to come across American odds when you’re betting at American sports betting sites. This odds expression indicates a bettor’s return relative to a base figure of 100 units. American odds start with either a positive or negative sign (e.g. -200 or +200).

Odds of 3-5 indicate that your profit will be three-fifths of a dollar. In other words, for every $5 you bet you can win $3 in profit. To figure out profit, multiply the amount you bet by the odds fraction. The money line is a simple wager in which the point spread is not determined. The odds posted on the money line is based on a $100 parameter. If the odds are 9/4 and you wager $100, you divide the $100 by the last number so this would be $25.