How To Read Sports Betting Odds
Understand that negative odds indicate how much money your must spend to make $100. When betting on the favorite, you take less risk, and thus earn less. When betting on a favorite, the moneyline is the amount of money you need to spend to make $100 profit.
In a specific match between two teams or individuals, one will be considered the favorite. The favorite is the team “expected” to win, and it will be identified with a minus (-) symbol. The underdog, the team “expected” to lose, will be labeled with a plus (+) symbol. It’s important to note that these expectations are the product of previous bets made on or against a given team or individual.
A pick’em is a betting offer in which there is no favorite or underdog. This can occur on Point Spread bets where the line is set at 0 points . A ‘Parlay’ bet is a bet placed on multiple outcomes all to occur.
One side has a greater chance of winning than the odds suggest. Betting odds show the chances each entrant in a competition has to win, according to the sportsbook. Moneyline odds are lower for favorites, higher for underdogs.
They are calculated as the ratio of the number of events that produce that outcome to the number that do not. Not every sport has a draw option, and definitely not when it comes to American sports. Having an NBA or NFL team finish with the exact score is an incredibly rare occurrence and will usually never be the case. To help you understand how you can calculate your winnings based on a bet amount, we will now cover the formula. If you are betting on the Miami Heat to win (+102) against Milwaukee Bucks (-121), you are essentially backing the underdog in the game.
You should be able to view the odds of a bookmaker at the moment of placing your bet. Lower odds mean lower payouts and greater chances of winning, whereas higher odds mean higher payouts and less chance of winning. Even money odds mean that your chances of winning are 50/50. Of course Barcelona may have an off day and Real Madrid land the win at big 4/1 odds, doing a few punters and a bookmaker a nice favour.