Us Betting Odds Explained
- Betting odds are used to assess the likelihood of an event happening.
- Less likely events tend to have higher odds and offer larger reward, while more likely events have a lower risk attached and therefore a lower reward.
- Your winnings depend on how much you wager on a given set of odds.
- Betting odds are seen in a range of formats – they are most commonly seen as fractions but are also sometimes presented as decimals.
- Us Betting Odds Explained
- Us Betting Odds Explained
- Us Betting Odds Explained Ncaa Football
- Us Betting Odds Explained Payouts
- Betting Odds Explained
Betting odds and sports odds in general are something that seems confusing at first, but are actually simple and easy to work with. Every gambler needs to know how they work, and should spend time finding out how are betting odds calculated and how to use a betting odds calculator as well.
A quick introduction to betting odds
- 2 days ago When comparing the presidential odds, a plus symbol means that the option is an underdog. The minus symbol means the option is a favorite to win. For example, let’s say Trump’s election odds are -125. If you bet $125, you would win $100 and get back the $125 bet if he wins.
- Betting odds show you the probability of a certain outcome to happen. In American form, positive odds are given to underdogs and negative to favorites. How to understand betting odds? It is very easy to understand betting odds if you know what to look for.
- Sports Betting Odds Explained Point Spread - If A Football Team Is -7, Then That Team Must Win By 8 Points To Win The Bet. Over / Under ' AKA The Total' - If An Over / Under Is 42 In A.
- BetUS is a premier online sportsbook and gambling destination. BetUS is a fully licensed sportsbook providing a reliable and secure sports betting service to millions of satisfied online betting customers world wide since 1994. BetUS offers football betting, live and NFL odds all season long.
Decimal and fraction odds might seem confusing, especially if you’re not familiar with betting and all the betting terms and types. This handy guide is ideal for anyone new to betting, or if you’re struggling to read the odds.
It contains a range of useful tips and tricks that will help you better understand just how betting odds work, so you can choose odds and place your bets with more confidence.
Here, we will highlight:
- The key points of betting odds and what you should look out for.
- How to read betting odds and make them work in your favour.
- Tips and tricks to help you understand betting odds more easily.
What are betting odds?
Betting odds are used to present the likelihood of an outcome, as well as help you understand how much you could win from a bet. They are often written out as a fraction (e.g. 2/1) or a decimal (e.g. 3.0).
Betting odds can be applied to anything that has a set outcome and are often seen in sport, entertainment, and politics. The odds measure the probability of a certain outcome, such as the result of a sports game or reality TV show, or whether a certain party gets the majority vote in an election.
How do betting odds work?
Betting odds are used to determine probability and calculate the winnings from a bet and are often seen in their decimal or fractional form. Odds are commonly recognised as being even, long, or short.
Even odds
When something is just as likely to happen as not, it is given even odds. These are presented as 1/1 in fractional odds, or 2.0 in decimal odds. In this instance your winnings would be the same as your stake.
For example: In the case of 1/1 odds, you win £1 for every £1 you bet.
Therefore, if you bet £10 you’d win £10, and return £20 in total (your £10 stake plus your £10 winnings).
Long odds
If something is statistically less likely to happen, it is given long odds. This means you have the potential to win more than you would on even odds, but the risk of losing is higher.
For example: In the case of 10/1 long odds (or 11.0 in decimal form), you could win £10 for every £1 you bet, and therefore your winnings exceed your stake.
A winning £10 bet at 10/1 odds would result in £100 winnings plus your £10 stake, therefore returning £110 in total.
Short odds
If something has a higher probability of happening, it is given short odds. While short odds are more likely to happen, the winnings will be smaller, and therefore you’ll need to stake higher amounts for a bigger return.
For example: In the case of 1/10 short odds (1.10 in decimal form), you could win £1 for every £10 you bet.
Therefore, a winning £10 bet would result in £1 in winnings, amounting to a return of £11 (your £1 winnings plus your £10 stake).
How to read betting odds
Betting odds are most commonly presented as a fraction or a decimal in the UK. Moneyline odds, which are common in the US, are also becoming more popular.
Reading odds can be confusing if you’re not familiar with what the different sets of numbers reflect. Here, we explain how to read decimal, fraction, and moneyline odds.
Understanding decimal odds
The simple rule of thumb with decimal betting odds is the bigger the number, the larger the return will be. For example, decimal odds of 3.75 will result in larger winnings than decimal odds of 1.75.
To work out your winnings from decimal odds, simply multiply the odds by your stake. The resulting number reflects both your winnings and your stake.
For example: If you bet £10 on odds of 3.75, you would return £37.50 – this means you’ll have won £27.50 (£37.50 – your £10 stake).
Us Betting Odds Explained
Understanding fractional odds
Fractional odds are a more traditional way of displaying odds in the UK. Appearing in fraction form (e.g. 2/1), you must first work out your winnings and then add on your stake in order to determine your total return.
The best way to calculate your returns from fractional odds is to follow a formula:
((stake/second number) x first number) + stake = total returns
This might look complicated, but we promise it will make sense when you plug your numbers in.
For example: If you bet £10 on a 5/2 bet, your calculation would look like:
((£10/2) x 5) + £10) = £35
For longer odds with a larger return, look out for odds where the first half of the fraction is larger than the second half.
For example: Odds of 5/1 will return greater winnings than odds of 1/5. If you were to stake £10 on odds of 5/1, then your return would be £60. However, if you were to stake £10 on odds of 1/5, your return would only be £12.
Understanding moneyline odds
Moneyline odds are often used in the US when betting on American sports, but they are becoming more common in Britain. They are presented as a plus (+) or minus (-) figure.
The moneyline shows you how much you have to bet in order to win £100.
For example: If you are presented with odds of +200, then your return (if you stake £100) will be £300 (your £200 winnings plus your £100 stake).
If you are presented odds of -200 (because this event is more likely) you will have to stake £200 to return £300 (your £200 stake plus £100 winnings).
In order to calculate the potential payout from a moneyline bet, simply follow this formula
stake x (odds/100) + stake = total returns
For example: If you are presented with odds of +200 and you bet £5, your formula would look like:
£5 x (200/100) + £5 = £15 total returns
Converting decimal odds to fractions
Converting decimal betting odds to fractions takes a bit of basic maths knowledge.
First, take your decimal odds and subtract 1 from the number.
For example: If you have decimal odds of 3.75, subtract 1 and you are left with 2.75. These are odds of 2.75/1.
Odds need to be made up of whole numbers, so we need to take 2.75 and turn it into a whole number. The easiest way in this instance is to multiply 2.75 by 100 and move the decimal along two places. This gives us 275/100.
From there, we can work our way to finding the smallest equivalent fraction.
In this case, we can divide our fraction by 25, leaving us with fractional odds of 11/4 – previously 3.75 when presented as a decimal.
Now that you understand betting odds and how they work, you can begin to use them to your advantage. Browse all the latest sports bettingodds or sign up to Grosvenor Casinos today to get started.
How to calculate betting odds return
Using our bet calculator, you can now work out how much a potential bet could return.
Us Betting Odds Explained
The calculator gives you the option to select the bet type, the win odds, your stake, and whether the bet placed will be each way or not.
As well as finding out how much your bet will potentially return, the calculator also gives you the total profit.
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“Wait, why does this NFL team have a -235 next to its name? What’s with New England Patriots (-15) vs. Miami Dolphins (+15)? Help! HEEEELPPPP!”
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
Us Betting Odds Explained Ncaa Football
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:
Us Betting Odds Explained Payouts
Philadelphia Eagles (-4.5)
New York Giants (+4.5)
Betting Odds Explained
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:
Philadelphia Eagles (-200)
New York Giants (+150)
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.
The Giants are the underdogs. If they’re +150, that means you could bet $100 to win $150.
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.
Odds
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.
Good luck!