Sports Betting Odds
If you think the Chicago Bulls are undervalued and have a much higher chance of winning, then betting on them makes sense. Based on our evaluation of thousands of data points, we found FOX Bet offers the best odds on spread bets. Another situation that may lead to canceled bets is when games end early or don’t play on the scheduled day because of a weather disruption. Consult your sportsbook’s house rules, as there’s often a minimum inning threshold that will result in action.
For instance an over 150 bet in a basketball game could be won if both the teams together score more than 150 baskets or points. Similarly, an under 4 bet in football can be won if both the opposing teams together fail to score at least four goals. One way in which bookmakers represent the sports betting odds is by placing a plus or minus sign before a number.
For example, San Francisco is -380 while Detroit is +290, instead of Detroit being +380. That difference in the numbers represents the vigorish, commonly called the vig or the “juice” – what the bookmaker charges for accepting your action. Moneylines at a sportsbook represent more than just betting opportunities. They represent the current market expectation of an event such as San Francisco defeating Detroit in Week 1 of the NFL season.
The Vikings would be 2.2 in decimal odds as a +120 underdog, meaning for every $1 risked, you’re profiting $1.20 and getting your $1 back. The Packers would be 1.714 in decimal odds as a -140 favorite in American odds. For every $1 risked, you’re profiting 71.4 cents, plus your $1 back. So if you’re betting on the Packers at -140 against the Vikings, that means Green Bay is a slight favorite. If they win, you profit $100 and get your original $140 back.
All NFL games have a “line.” Each game has a point spread, which is a way for sportsbooks to even out the competition. So if the Bears are a heavy favorite, they may “give up” 8 points at -8 odds, which means they have to win by at least 9 to pay out. Moneyline bets are found in virtually every sport and essentially tell you the ratio of your initial bet to the payout. A sportsbook may put their moneyline odds at -300, which means you would have to wager $300 in order to win $100 because they are so likely to win. Or a sporsbook may tab the Mets as a big underdog, and put their moneyline odds at +400. That means your $100 bet could net you $400 if the Mets pull off a miracle.
Vigorish Explained – There is a misconception in sports betting that one only has to hit 50% of their bets to break even. Loot explains how vig works, which makes the actual break-even point 52.38%. Arizona State is favored at -240, with Arizona a +220 underdog. When you see a minus-sign (-240), the number you see is how much you would have to bet to win $100. Therefore, to win $100 on Arizona State, you would need to bet $240. With a plus-sign (+220), the number you see is how much you would win if you bet on $100.
Betting odds represent the probability of an outcome occurring and the return you will receive if your bet is a winner. It could be the likelihood of all of your final four betting picks being correct. For the purposes of this article, we will focus on American odds. Know your potential profits when you make a wager with this betting odds calculator.
This definitely seems like a way better deal than betting $340 to win $100, but remember that Orlando has a small chance of beating the best team in the league. Some bettors may see value in this, but you should never blindly bet an underdog – or any side for that matter . The biggest advantage of the moneyline for the NBA is that your team doesn’t have to overcome the point spread for you to win your game.