How To Read Sports Betting Odds
It’s never a bad idea to shop around for odds and see which sportsbook offers the best ones for the bet you are looking to place. As a general rule,professional bettors place larger wagers, and they do it less often, like vultures on roadkill. Professional bettors probably aren’t looking to be in every single game market every single day. They’re more interested in buying ‘A+ setups’ only.They’re specialists.
But the team playing the Bears, at say +250 odds, would pay out $250 on a $100 bet. Although fractional and decimal betting odds are the most common way a bookmaker showcases their prices on an event, it’s still handy to know how the moneyline or American version works. Twenty years ago, ATS odds might have been the only sports betting market to bet on, especially if you were dealing with a bookie rather than betting from within Las Vegas city limits. The rise of both technology and legal sports betting has been an absolute boon to the variety of bets and odds found in sports betting markets. If you wagered $100 on Houston and they won, you’d make $115 in profit. Conversely, the Yankees have a minus sign as the favorite – this line reveals how much you’d need to bet to win $100.
You remember that line you wanted to bet, so you open your account and scroll down to find the Lions. Combine that with home field, and the betting market sees a closely matched contest. Hence, Green Bay entering as favorites, but favorites expected to prevail by just 3 points. Now that we know how the point spread works and what it is, let’s take a look at some examples of different spreads available for the 2021 NFL season. Each of the lines below comes from DraftKings Sportsbook, the first couple from Week 1 and the last one from Week 17.
Bettors would pay 10 percent to the sportsbook, which is essentially a fee for brokering the wager. So, the -110 indicates that a bettor must risk $110 to win $100. Some sportsbooks will even reduce the juice for you, which means you can earn the same $100 payout but risk less money to do it. A negative money line represents the amount that you would have to bet to win $100 if you were correct. For example, a -200 money line means you would win $100 if you bet $200 and won.
It’s also a push if the final score equals 42, otherwise the over or under will win. This odds format used to be the standard in the United Kingdom. However, understanding betting odds of this kind is not easy. As you will see, it is not as straightforward as decimal odds, which is probably the reason why the latter are taking over the British Islands. For a novice, fractional odds may be a little tricky, especially when it comes to calculating one’s potential profits. Each game has a point spread and a moneyline, and you can wager on either or both.
Technological advances and the growing legality surrounding sports betting has, in a sense, democratized the industry as a whole. The head oddsmaker is typically the top dog and has the final say when it comes to what odds are offered to sports bettors. In the old days, when the only place you could get a sports bet down was in Las Vegas or with a local bookie, Vegas odds were the be-all, end-all for sports bettors. Sports that feature two potential outcomes are the easiest to bet on. Football, basketball, tennis, boxing, hockey and baseball are examples. Soccer, the most popular sport in the world, often features three sides with a draw included among the options.