understand sports betting odds

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п»їHow to Read Betting Odds.
If you’re new to the world of sports betting, one of the first things you’ll need to do is figure out how betting odds work. At a quick glance, betting odds can be quite intimidating to first-time bettors, and you may find yourself asking “how do betting odds work?” That’s where Compare.bet can help; we’ve taken it back to the basics to explain betting odds and how they work.
Odds Converter.
What are betting odds?
The first step to understanding betting odds is appreciating what they do. Betting odds simply indicate the likelihood of an event and the return you’d get if you did make a wager on the result. Betting odds may be displayed in three different formats at US sportsbooks and online and mobile sports betting platforms: American odds, fractional odds and decimal odds. Different formats don’t mean different odds; it’s simply a different way of presenting them. This isn’t as complicated as it might sound and, by the time you’ve read our guide to betting odds, you’ll be an expert.
American odds.
Let’s consider a real-world example to understand how American odds work in action:
When it comes to calculating the return from a bet made using American odds there are two different formulas that can be used:
Calculating negative odds: (100/Odds) x Stake = Profit Using the example above: (100/190) x $100 = $52.65 Calculating positive odds: Odds x (Stake/100) = Profit Using the example above: 170 x ($100/100) = $170.
When looking at American odds, it’s important to remember that the results of some matches have a points spread attached to them. This applies to a variety of sports including NBA, NHL, NFL and MLB games.
When a point spread is attached to a set of odds it means that for the bet to be successful the team must ‘cover the spread’. This means that the team you are betting on must win or not lose by a predetermined margin of points.
Fractional odds.
Displaying odds in a fractional format is more common in overseas markets, such as the UK, than at US online sportsbooks, but it’s useful to understand them nonetheless. Fractional odds are some of the most simple to understand, as they present your potential winnings as a fraction of the money you stake: while the denominator represents the amount bet, the numerator is the amount your stake will yield in a winning bet.
For example, odds of 1/1 mean you’d get a return of $20 for a winning $10 bet. Want a real-life example? Making a $10 winning bet on an NBA game priced at 5/1, would net you $60 in total.
You can use the following formula to calculate potential returns with fractional odds:
Decimal odds.
The decimal odds format, also known as European odds, represents the multiple of your stake that you will get back for winning a bet. While these are more common at overseas betting exchanges, you may see these at US betting sites. For example, betting on a market priced at 2.5 means you would win two and a half times your stake if your bet were to win. This means you’d win $2.50 for every $1 you wager.
Another example of decimal odds in action would be betting on NHL game with odds of 9.0. A $10 stake on odds of 9.0 would earn a total payout of $90 with $80 being won from the sportsbook and your initial $10 stake being returned.
You can use the following formula to calculate potential returns with decimal odds:
Calculating total payout: Odds x Stake = total payout e.g. 9.0 x $10 = $90 To calculate profit: (Odds x Stake) – Stake = profit e.g. (9.0 x $10) – $10 =$80.
Comparing different types of odds.
Whichever format odds are written in, they all have an equivalent in another format. While some sites, such as William Hill’s Jersey sportsbook, allow bettors to change odds formats, it is useful to understand how to calculate odds between formats. Not only will this help you understand your potential return, but it also makes it easier to compare betting odds across sportsbooks.
Fractional odds to:
Decimal odds to:
Fractional American (decimal odds-1) and round to nearest integer = fractional odds (decimal – 1) x 100 = American odds (3.75-1=2.75) = 2.75/1 or 11/4 (3.75 – 1) x 100 = 275.
Positive American odds to:
Negative American odds to:
US sports betting markets.
We’ve explained betting odds, but what markets are these set on? As the US sports betting industry continues to grow, so does the selection betting options, or betting markets, at each site. Odds will vary between these markets, and even between the same markets at different sports betting sites. Not quite sure what every US sports betting market means? These are the most popular:
Straight bet.
A straight bet is a single bet on the outcome of a game or sporting event that is determined by a money line or point spread.
A futures wager is a bet placed on the outcome of an event in the future. For instance, you can place a wager on the winners of the NFL season which doesn’t even begin until next year.
A parlay wager is a single bet that is linked with two or more wagers. In order to win a parlay bet, a bettor must win every wager in the parlay. If a bettor loses one wager in the parlay then they will lose the entire parlay bet. Parlay bets tend to have much higher odds than other bet types.
Teaser bets are usually available for basketball and football events. A teaser allows bettors to combine their bets on two different games and adjust the point spreads for the two games. However, the better will see a lower return in the event that their teams win.
Round robin.
A round robin is essentially a series of parlay bets. For instance, a round robin made up of three teams will consist of three two-team parlay bets.
Propositions.
Propositions bets are sometimes referred to as “prop” bets. These bets focus more on the outcome of a certain event happening during a sports game such as “which team will score the first touchdown?” or “how many field goals will team x score?”
It’s up to you to compare betting odds and pick your betting market. If you’re new to sports betting, we’d recommend sticking to ‘safer’ bets with lower odds until you get to grips with how it works exactly.


How to Understand Sports Betting Odds.
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As more and more states legalize sports betting in the U.S., inevitably more people will be drawn to sports betting. If you are a novice sports bettor, a sportsbook’s odds board or homepage on a mobile app may look like complete gibberish.
In this article, we will get you caught up on all the basic terminology you need to know. In addition, we will use this terminology to explain how to read what you see on an odds board and how to apply this knowledge towards your wagers.
Example of a Game on an Odds Board.
This is an example of an NFL game between the Dallas Cowboys and Kansas City Chiefs that once appeared on a sportsbook’s odds board. You will notice the following categories of terms: rotation numbers, point spread, over/under, and moneylines. Let’s take a look at each term individually.
Rotation Numbers.
Rotation numbers are commonly used at in-person sportsbooks. These numbers are provided for bettors to easily reference their bets when approaching the cashier.
Suppose a bettor wanted to wager on the Cowboys spread. They would approach the cashier and say “I will take number 403, Cowboys -8 for [whatever the bet amount].” The cashier would then have the proposed bet on a screen for the bettor to look at, along with the possible payout. If the bettor was satisfied with the bet, the bet is finalized once the bettor hands the cashier their money.
Telling a cashier the rotation number of a bet is not absolutely mandatory. One could simply say “I’ll take the Cowboys -8” and the cashier will likely know that the customer is referring to an NFL point spread. However, one cannot assume the cashier is knowledgeable about every sport, so telling the cashier the rotation number makes their job easier.
Point Spreads.
Over/Under.
Over/unders are also referred to as “totals” in the sports betting world. With over/unders, one is not betting on how much one team will win or lose by. Instead, an over/under is a wager on how many points will be scored.
Those who bet on the “over 42.5” think the Cowboys and Chiefs will combine to score more than 42.5 points. Those who bet the “under 42.5” think the two teams will combine to score less than 42.5. Notice how with this particular line, there can be no “push” since there cannot be a half-point scored.
Moneylines.
Similar to point spreads, a moneyline favorite can be identified with a minus sign next to the number while the underdog will have a plus. With a moneyline bet, one is simply betting who will win the game regardless of the margin of victory.
The Cowboys have a moneyline of -400. This fact introduces another important sports term called the “vig.” Those who bet the “Cowboys moneyline” would need to wager $400 to return a profit of $100. That same ratio is applied to all betting amounts, so a $100 bet on the Cowboys moneyline would net a $25 profit.
Vigs are Everywhere.
If the math to figure out how a vig of -110 works is too difficult, the rule of thumb is that sportsbooks take 10% of the winnings of every bet. However, one does not have to be a mathematical expert to be a successful sports gambler. Remember, a cashier at a sportsbook will always show you what you stand to win before you finalize your bet.
Mike Spector is a featured writer at BettingPros. For more from Mike, check out his archive and follow him @MikeSpector01 .


Sports Betting Odds.
Sports Betting Odds Explained.
Many people don’t know how to read or calculate sports betting odds, so below we have done our best on explaining how betting odds work. The most common type of sports betting odds used in North America are the American style odds which we explain below.
American Style Sports Betting Odds.
Most online sportsbooks will list their odds in what is called “American Odds”. There are a couple different versions of sports betting odds, but these American Odds are the most common odds used. Reading and understanding sports betting odds can bet a little confusing to beginners, so we have provided an example below using two NFL football teams:
American Odds.
The number shown in the bracket represents the odds. The American Odds have two components to them, the first being the positive or negative sign, and the second being the number that follows the sign.
The next step is figuring out exactly how much the bet pays out, which is where the numbers in the odds come into play.
A listed odd with a – sign in front of it, such as the -140 in our example above, shows us how much money you would need to wager in order to win $100. So using the -140, this would show us that you would need to bet $140 in order to win $100 in profits. You can easily substitute the $100 bet for a $10 bet by moving the decimal place over one spot, showing us that you would need to wager $14 in order to win $10 in profits.
Examples:
Examples:
Below is an example of NFL betting odds taken from an online betting site.
The great thing about betting online is that the online sportsbooks will do the calculations for you before you place your bet. You can click on the outcome or team you would like to bet on, and then input the amount you wish to wager and it will show you your potential pay out before you confirm your bet.
Ready To Start Betting? MyBookie and BetNow are my two favorite sportsbooks and make betting very easy. You will also get a Free Money Bonus at each sportsbook if you follow either link above.
Decimal Style Sports Betting Odds.
Decimal style odds are used mostly in Europe, and are pretty easy to understand. To calculate the decimal style odds all you will need to do is simply multiply the amount you wish to wager by the decimal odds shown and you will get your payout. For example it may look something like this:
Decimal Odds.
Matchup Odds USA 2.40 Brazil 1.55.
If you wanted to place a $10 wager on the USA at 2.40 you would simply need to multiply your $10 wager by the 2.40 odds (10 x 2.40) to find out that the payout is $24. It is important to realize that with decimal style odds it includes the amount you wagered, so to find out profits you would need to subtract your wager ($24 – $10) to find out your potential payout is $14 in profits.
If you wanted to place a $10 wager on Brazil you would again just multiply $10 x 1.55 to find out that you would win $15.50 total or $5.50 in profits.
Decimal style betting odds are very simple to understand, but you won’t see them displayed in many North American sportsbooks. With that said, most online betting sites will allow you to chose the style of betting odds you want displayed, with American odds set as the default.


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What do sports betting lines mean?
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If that sounds like you, we’re here to assist you. If you’ve stared at a board at a sportsbook or just seen spreads and moneylines on the Internet and been utterly confused, don’t worry. It’s not just you. Those numbers can be confounding.
But hopefully, once you’re done reading this, you’ll completely understand how they work. As you prepare to dive into the world of sports betting, here’s a breakdown of how the lines work, starting with …
Spreads.
It would be really easy to bet on a game if you could put money on a heavy favorite to win.
That’s where point spreads come in. Let’s look at an example:
In this case, you can bet on either two outcomes: you can put money on the Eagles to win the game by 4.5 points OR MORE, which makes them the favorites. Or you can bet that the Giants will either win or lose by LESS THAN 4.5 points. They’re the underdogs.
Now, sometimes the spread “moves” during the days leading up to the game. Perhaps the Eagles’ spread ends up being -3.5 (in which they must win by 3.5 points or more to give you a victory in your bet). Your bet all depends on whichever spread you bet on, whether it was when the Eagles were favored by 4.5 or 3.5 points.
If you ever see “PK” or “pick” next to a team, it means there’s no spread and you can bet on who will win, no matter what the score is.
Moneylines.
Let’s take that same example above but use moneylines:
The team with a minus symbol is the favorite, and the number is how much money you would need to bet to win $100. In this case, you would have to bet $200 on the Eagles in order to win an additional $100.
Note that you can bet any amount you want, but those numbers are always calculated and posted the same way, either in how much money you would need to wager to win $100 or how much money you could win by wagering $100.
If you’re betting on something like the team who will win the Super Bowl in the future, you might see it look like this:
New England Patriots — 3/1 Baltimore Ravens — 5/1 Kansas City Chiefs — 8/1.
If you were betting on the Patriots and their 3/1 odds, you would win $3 for every $1 you spend. So if you bet $50 on the Pats and they ended up winning the Super Bowl, you’d win $150 (plus your original wager) back.


Sports Betting Explained: What’s A Prop Bet?
With sports betting becoming more popular by the day, Super Bowl 55 is in line to be the event with the largest volume of wagering in history. It should be noted that sports betting is not legal in every state in the U.S. just yet, but with more and more states adding legal wagering to their docket, the level of interest is sky-high.
To that end, we are continuing a series of explainers on sports betting, following up on a general introduction to the space that explains different kinds of wagers, how odds are calculated, and much more. The second installment is timely when considering the Super Bowl as the backdrop, and it centers on the wide world of prop betting.
What is a prop bet, exactly?
The most common wagers on a sporting event are covered in our general intro, and they are directly linked to the outcome/score of the game. Those wagers include point spreads, over/under totals, and money lines but, again, they are focused on the actual result of the contest in a big-picture sense.
Prop bets (or proposition bets) are wagers that are not directly linked to the overall score or outcome. There are many ways to examine this space, but prop bets gained notoriety from the Super Bowl in many cases, with all eyes fixed on a single game and bookmakers looking for creative ways to entice the public into sinking more money into the action. Prop bets are still far less common than standard point spread bets or total bets, but they are gaining steam, especially in the world of offshore betting, and can be a lot of fun.
Standard Game Props.
At this point in 2021, game props are available well beyond the Super Bowl, but they can be quite simple and also a bit more complicated. One type of game prop would be an over/under listing on the longest pass play of the game (over/under 27.5 yards, for example). That means a handicapper could wager on either side of that number for the longest pass play, and the same applies for wagers like shortest touchdown, longest touchdown, total penalty yardage, and more.
That encompasses a great deal of the game prop market, but there are others to consider. For example, a prominent Super Bowl bet is whether the game will go to overtime, with “yes” and “no” offered. These yes/no bets are very easy to track, simply because it is clear whether the event takes place or not. Finally, there are team vs. team wagers that fall under a similar umbrella. Which team will have more rushing yards? Which team will score first? Which team will score last? Which team will kick more field goals? All of these bets could be (or have been) available for any game, with the bettor given the option to choose a side.
Player Props.
This may be oversimplified, but player props basically encompass any wager dictated by the performances of individual players. For example, a popular Super Bowl bet is which player will score the first touchdown, with sportsbooks offering sometimes long odds on various players, with only one able to cash a winning ticket. This could also be applied to basketball with which player scores the first (or last) point of the game, or to baseball with the first/last/most home runs of the night.
Those are broad bets that could pay lofty odds if things break just a certain way, but there are also more common over/under bets. The Super Bowl is, again, a good example here, with the ability to wager on the over/under for passing yards from Tom Brady or Patrick Mahomes. Bookmakers build lines for yards (passing, receiving, rushing, etc.), receptions, completions, carries, touchdowns and much more in the football space, with points, rebounds and assists in basketball and hits, strikeouts, and home runs in baseball. This is a more efficient market in recent years, simply because many smart people are now finding value, but these can also be entertaining and a way to track a “game within the game.”
Exotics.
This is the area where a gigantic game, i.e. the Super Bowl, really shines. One of the more famous examples is a large market on just how long the national anthem will be, from start to finish, before kick-off. Another could be tied to the coin toss, with people able to wager on “heads” versus “tails.” It can even be as weird as tracking what words the announcers say, or what color someone’s shoes are, or whether the Gatorade poured over the winning coach’s head is green, orange, blue, or a different color.
Yes, this is hilarious and often weird. Yes, it can also be delightful, but it certainly trends more to the “entertainment purposes only” genre of sports handicapping.




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