Explaine:Positive & Adverse Odds, What exactly do they mean?

What Does “plus” And “minus” Mean In Sports Betting?

Following the tips in this helpful guide can take you from wondering, “how do odds work? Remember how to read odds and the formulas for determining the implied probability from each. Once you have that implied probability, you can place your wagers accordingly. Having these fundamental principles of betting odds explained is the first step to making successful wagers. Here’s a quick reference for some common questions on betting odds explained. Predicting these events so far in advance is difficult, so learning how to read odds like these can give you some of the most lucrative payouts in sports betting.

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. Say the Bears are a six-point favorite over the Lions and the total is 42. To bet the Bears, you must “lay the points,” meaning they must win by seven or more to cover and give you the win. Betting the underdog Lions, you are “taking” six points, and they can lose by five or fewer, or win the game outright, and you have a winning bet. If the Bears win by exactly six, both sides “push” and all bets are returned. It’s also a push if the final score equals 42, otherwise the over or under will win.

This also means that your wager won’t profit as much as it would if it was a positive number. For instance, a $100 wager on +220 odds would return a profit of $220. However, a team with -220 odds would require a $220 bet to return a profit of $100.

When a negative point spread is given to a team, it means they are favorited to win the game. When a positive point spread is given to a team, it means they are not expected to win the game. If you wanted to bet the underdog Orlando to win the game, their money line odds are +280. Whenever a “+” is listed for odds, the number after it is how much you will win for betting $100. So in this example, a $100 bet would win $280 if the Magic win the game.

There’s always luck and chance involved in sports betting, but understanding how to read odds helps you make an informed bet. If you believe an outcome is more likely than the implied probability, you have an optimal chance of winning a return on your wager. Money line bets are possibly the simplest form of sports betting. Money line bets do not use point spreads like straight bets do.

The plus (+) and minus (-) in sports betting can refer to either the point spread or betting odds. In terms of the spread, the ” – ” always refers to the favorite and the ” + ” always refers to the underdog. For example, you can bet the Dallas Cowboys as a -7 point favorite to beat the Green Bay Packers or the Packers as a +7 point underdog.

Explaine:Favourable & Bad Odds, What can they indicate?

Moneyline Bets Explained

If you go to Las Vegas or other casinos with sportsbooks, you might see odds laid out in a slightly different format. While the odds displayed will still be American odds, they are featured in a different order. A rotation number helps you quickly identify the bet you’re looking for, especially when there are hundreds to pick from. If the spread is -3 for the Bears, that means it is +3 for the Vikings. Say you want to make a wager on who will win a specific game. The Tennessee Titans are the underdogs at +185 and the New England Patriots are favored to win at -215.

The types of odds are simply different ways of presenting the same thing, and hold no difference in terms of payouts. These bets can be found for any sport, but are most common in low-scoring games like baseball, hockey, or soccer. Learning how to read odds and what to use that information for will help you make successful wagers.

You also need to know that prices on spreads/totals do not impact who/what is favored, it is used to determine how much the bet pays out. Read on for the complete explanation of each of these concepts. Reading odds may be the first part to figure out before you begin sports betting, as they specify the implied probability of an outcome and how much money can be won. Compare.bet US has the latest on the best legal sportsbooks in your state.

When using decimal odds, the underdog has the higher of the two numbers, while the favorite has the lower of the two. To calculate decimal odds, you can use the following equation. Fractional odds are used more commonly in parts of Europe and in horse racing. To calculate fractional odds, you have to do some mental division or enter your desired amount and see what the sportsbook shows as your payout.

” That’s where Compare.bet can help; we’ve taken it back to the basics to explain betting odds and how they work. A minus sign at the beginning of odds means the team is favored to win. The number indicates how much someone would need to wager in order to win $100. So if someone were to place a $150 bet in favor of Team A, and Team A won the game, that person would win $100. If that person were to bet $300 instead, and Team A still won, they would win $200.

When betting these choices, you will almost always see -110 listed with them. If you don’t know what that means, don’t worry – we’re covering that today and it’s not nearly as complicated as it looks. But the totals I set have to reflect our customers’ preferences for betting the over or under on certain teams in certain situations.

In this kind of bet, the odds are set at the beginning of the season, but they can go up or down as time goes on. Once you make your bet, however, it is locked in at whatever the odds were at the time you placed the bet. This is why making a bet on a long shot early on can bring a potentially substantial payoff.

Explaine:Good & Damaging Chances, What would they suggest?

What Does “plus” And “minus” Mean In Sports Betting?

A positive sign denotes they believe the outcome is less likely. Sportsbooks also determine the number part of American odds based on that same factor. The higher the number, the less likely they believe the outcome is.

Hopefully, however, if you choose to make a futures bet, you will at least be able to read the odds as they appear now. One thing to bear in mind about moneylines is that point spreads for the same match can reveal further information about the rationale behind where the line is. In this case, DraftKings has set McNeese State as a mere 0.5-point favorite, so the game really could go in either direction. In fact, positive moneylines are convertible into straight odds for those who wish to do a few calculations. One rule of thumb is that every 100 that the positive moneyline increases corresponds with another whole number of odds.

If you want to bet on St. Louis, on the other hand, you would need Houston’s margin of victory to be no more than seven points. If the BattleHawks win the game by any margin, you would also win this bet in that instance. A third type of odds listing you might come across is fractional.

Meanwhile, the odds for underdogs are accompanied by a positive (+) sign, indicating the amount won for every $100 staked. In both cases, you get your initial wager back, in addition to the amount won. The difference between the odds for the favorite and the underdog widens as the probability of winning for the favorite increases. A fractional listing of 6/1 (six-to-one) odds would mean that you win $6 against every $1 you wager, in addition to receiving your dollar back (i.e., the amount you wagered). Therefore, if you stake $10 at 6/1, you get a total payout of $70 ($60 profit + $10 stake). Having knowledge about the raw math behind betting odds explained is useful, but of course you want to know about your potential payout too.

When you bet on the favorite you get worse payout odds on your bet since they’re more likely to win. Though a lot of bettors prefer betting on other markets, there are some great incentives to moneyline betting. Though moneyline betting often has low return rates for favored teams and athletes, the real value in moneyline betting comes from the underdogs.

In order to win $100 on the Penguins , you’ll need to wager $130. If you wagered $100 on the Senators , you’d be set to win $110. When you see -150, +230, or any other three-digit number with a +/- in front of it, you’re dealing with American betting odds. The simplest definition is when a game ends right on a predicted margin or ends in a tie. To illustrate this, let’s use the current point spread odds on an upcoming XFL game at PointsBet Sportsbook. Therefore, FanDuel believes Pittsburgh is more likely to win this game than Montreal.

Decimal odds are most popular in Australia, Canada, Europe and New Zealand. These odds may be the easiest of the three to understand just by looking at the numbers. Sports betting is legal in North Carolina, but it’s only available at two casinos, which weren’t open as of early 2021. Sports betting is legal in Virginia and residents began betting via FanDuel in January 2021. Most legal sportsbooks around the country won’t allow you to make bets with Venmo. Futures betting can be applied to more than just national championships.

Explaine:Positive & Bad Odds, Exactly what can they suggest?

Tn Sports Betting Odds

Check out the earlier parts of this guide to see the different formats of betting odds explained and learn how to estimate your potential winnings. So far, the different types of betting odds have all been wagers on single events within the upcoming week or two. Futures are wagers placed on, you guessed it– future events. For instance, you might place a future bet on the Red Sox winning the World Series or The Lakers bringing home an NBA championship ring. You place a wager on whether the total score between the two teams will be higher or lower than the total offered.

This means that Team B is favored to win by more than 22.5 points. If you were to make this bet and Team B did win by 23 points or more, and you bet $120 on the game, then you would win $100. Parlays involve wagering on two or more games on the same bet following the casino’s pre-determined payout scale. Negative money lines indicate the amount of money needed to wager to win $100 in profit. Positive money lines indicate the amount of money that can be won from a $100 wager. The decimal odds number represents the amount one wins for every $1 wagered.

If you think that one or both teams has a particularly strong offense and it will be a high-scoring affair, you would bet over. If you think it will be a defensive struggle, ending in very low scores on both or either side, then you would bet under. If the final score is something like 44-40, then the combined score would be 84, meaning the game is an over. If the final score is something like 33-32, making the combined score 65, then it is an under. In sports betting, each team is assigned odds — assigned by a sportsbook — that represent the likelihood of its winning the game.

As stated, a negative number means the bookie sees the outcome as more likely. The number gives you how much you would need to bet to win $100 in profit. Betting odds are determined by a number of calculations factored in by sportsbook providers. Experts in sports betting know the answer to the question, “how do odds work?

Each different format for betting odds will have a different formula for calculating your winnings. Just like in all the betting odds explained in this guide, the higher your risk, the higher your potential payout. Use parlays to string together several bets and, with a little luck, you could be in for a big payday. American betting odds display with a plus or minus sign followed by a number.

Even the favorites to win it all are still underdogs against the field. A futures bet might pertain to a season award or an eventual champion. However, moneylines also show up as a format to declare straight odds on various wagers. Notably, futures bets are often expressed in terms of moneylines. So, since the sportsbook felt that a certain outcome was particularly likely, bettors who took that side stood to profit very little. On the other hand, if Cleveland did manage to pull off the upset, then a bet would pay off quite handsomely.

You’ll find that the betting public tends to pile in on their favorite teams once they get home from work on Friday. You can anticipate these line movements and time your bet accordingly to take advantage. There’s another reason to bet the underdogs on the moneyline as well. The moneyline, then, is a powerful situational tool for people who closely follow the NBA. The simplest way to think about a moneyline is to consider a base bet of $100. A moneyline is a number larger than 100, and it is either positive or negative.

Explaine:Beneficial & Damaging Likelihood, What do they imply?

Moneyline Bets Explained

Going back to the previous example, a $10 bet at 3/1 odds would represent $30 in profit. For example, if you bet $10 on the New York Knicks to win at odds of 2.25, your return (or “total payout”) would be $22.50 if they won. They are used by most people outside of America, most notably Europe.

So, to actually PROFIT $100 with the Lakers bet, you would need to wager $250. If you are planning to enter the betting or the gambling world, it is important to be able to understand and interpret all types of odds well. Once you have mastered the three popular types of odds , you can move towards a more detailed read on this topic and find out how the house always wins. The potential profit for a Cleveland win would be even higher, as you could make a profit of $700 [$100 x (7/1)]. With the initial stake of $100 being returned, it would make for a total payout of $800. It can quickly be determined that the Golden State Warriors are the favorites while the odds on Houston and Cleveland winning are longer.

The chance of a particular outcome occurring that a sportsbook has calculated is called the implied probability. To determine the implied probability, you must convert the betting odds into a percentage. See how to convert each format of odds to an implied probability in the following section, where you’ll see each type of the betting odds explained. For example, the Golden State money line above is listed at -340 odds. Using the same principles we just discussed, $340 needs to be bet in order to win $100.

Odds of 3-5 indicate that your profit will be three-fifths of a dollar. In other words, for every $5 you bet you can win $3 in profit. To figure out profit, multiply the amount you bet by the odds fraction.

That means if you bet $100 on the Jets, and they win, you would win $240. If you bet on the Patriots -7, they must win the game outright by more than 7 points. For individual bets, just say “straight” or “straight up”, otherwise you will need to explain that you are taking a parlay or some other bet type. This is how much you are wagering, not how much you want to win. Most books use -110 odds , so if you want to win $100, you’d state $110 as your wager amount.

If the Chiefs were to win the game by any score and you picked the Chiefs you would win not including the extra six points. If the Lions were to win, 20-14, it would be exactly six and a push, so you would get your money back. A moneyline bet is on a team to win the game outright at an adjusted cost. Just like with point spread betting, the favorite will have negative odds, while the underdog will have positive odds. The difference here is in the price or payout depending on which team you take.

Explaine:Good & Damaging Odds, What exactly do they signify?

What Does “plus” And “minus” Mean In Sports Betting?

A line with a positive number means that the team is the underdog. If the line, for example, was +160 then you would make a profit of $160 if you were to bet $100. Obviously, then, the team is a bigger underdog the bigger the number is – a +260 team is perceived to be less likely to win than a +160 team. Money line odds – These are by far the most common form of odds in North America for sports betting. They are expressed as numbers greater than 100, and they can be either a positive or negative number. In this example, the Los Angeles Lakers are the favorite, while the Warriors are the underdog.

Going further, a $100 bet on the draw at +220 would payout $320. However, in most cases, the favorite will have a ” – ” in front of its moneyline odds while the underdog will always have a “+ .” 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.

Since a sportsbooks goal is to make money on every bet, they’re trying to create bets that will split the bettors down the middle. If they come up with odds that cause a higher % of bettors to bet on one team, the book opens themselves up to potential losses. Except in situations where opponents are considered an even matchup, the favorite will have a negative (-) money line and the underdog will have a positive (+) money line. This is explained in more detail below, but the most important thing to be aware of is that negative numbers represent favorites, while positive numbers represent underdogs. The same is true whether you are looking at a spread or a moneyline, but how these numbers are used is very different.

In this case, you’re betting on things like who will win a division or who will win a championship well in advance. To bet the Miami Dolphins to win on the money line, you would spend $100 on the bet for a chance to win $220 if the Dolphins, as the underdog, beat the Patriots. Your return would be $320 – the original $100 stake and the $220 profit.

Assuming equal bets on both sides, the house has a built-in 10 percent cut of the action, regardless of the outcome of a particular sporting event. Now that you’re an expert in reading sports odds, get out there and start winning some money! Sharp bettors are informed bettors, and not all sports are created equal. Consider checking out our comprehensive guide covering how to bet on sports before you lay down your first wager.

In this example, if you bet on Team World and you win, your winnings would be more than you wagered. The numbers let bettors know the payouts associated with betting each side of the game. The positive number is the payout amount that a winning bet will receive on a $100 wager. The negative number is the amount that a bettor must wager in order to win $100. As you can see, understanding the -110 in sports betting is pretty basic once you realize what it represents. You can also apply this knowledge to other odds as well, such as the money line.

Analyzing Thursday’s Boston Red Sox at Tampa Bay Rays odds and lines, with MLB picks and predictions. A negative money line is also considered as the favorite – or chalk pick – by the oddsmakers. Fractional odds of 1/2 and decimal odds of 1.5 are also equivalent in this scenario. Ideally, the lines I release will balance the action equally, so that the winners get paid out from the pockets of the losers and we take the vigorish.

Explaine:Good & Damaging Odds, Exactly what will they imply?

Tn Sports Betting Odds

If you want to bet on Golovkin to win the fight (8/13 odds), calculate your winnings by multiplying your wager by the quotient of 8 ÷ 13 (0.615). In this case, you’ll receive $16.15 back ($10 bet + $6.15 in winnings). Therefore, the probability of Alvarez winning the fight is calculated by dividing 8 by 19 . Let’s say boxer Gennady Golovkin receives 8/13 odds in an upcoming fight with Canelo Alvarez. These odds suggest that if this fight happened 21 times (8 + 13), Golovkin would lose 8 bouts and win 13. If you think their chance of winning is higher than that, this bet is worth serious consideration.

When it comes to the different sportsbooks out there it is possible to find different point spread lines but generally, most sportsbooks will have similar stats. It is worth a look to scan the various betting lines when you intend to bet on a big game, that is why WSN will always list the odds from several sportsbooks for each event. You can check out the different sportsbooks and compare them here. This is why casinos and sportsbooks employ professional oddsmakers to set the lines that are most likely to draw equal interest on both sides of the bet. That way the casino makes a profit on the commission regardless of which team wins. -110 is also the most common odds you’ll see on most point spread lines and Over/Under lines.

Read on to see an explanation of how to read odds in any of these formats. The variations can take some getting used to, but we’ll give you a breakdown on each format of betting odds explained. Know that Over/Under bets are placed on the combined score of both teams and are much simpler to place. A bookie sets the Over/Under, and you simply choose if the combined score will be higher or lower than that mark. There are a few different variations of Vegas odds boards, but as long as you understand spread, moneyline, and total bets, you’ll be able to find what you’re looking for.

Let’s take a closer look at some of these basic principles of odds. Vegas Insider makes no representation or warranty as to the accuracy of information given or the outcome of any game or event. Betting through bookmakers is illegal in the United States except in the state of Nevada.

Michigan passed legislation to allow sports betting in December 2019 and the first physical sportsbooks opened March 2020. But while betting on sports is legal in almost half the states in the country, not all of them allow online wagering. As of 2020, there are 21 states (and Washington D.C.) that have legalized sports betting. The Tampa Bay Lightning are -400 to beat the Detroit Red Wings. If you’re betting on the Lightning to win, you need to wager $400 to win $100 if your bet is correct with the Lightning winning. If you are betting on the Yankees, you need to wager $200 to win $100 if your bet is correct with the Yankees winning.

When the point spread was invented in Chicago by Charles McNeil the money line took a backseat. No matter which team the bettor took the bettor would always risk $110 to win $100. The extra $10 needed to win $100 is called the juice or the vig, it is basically the house’s or the bookie’s take. It’s 10-percent of the bet so it would take $33 to return $30 and $440 to return $400 etc. . If you like favorites, you’re going to be betting a lot to win a little.

Explaine:Optimistic & Bad Odds, Exactly what can they mean?

Moneyline Bets Explained

The sportsbook will then hold your wager until after the event is decided. These bets are available on more than just player props though. In fact, there are live wagering odds for everything from full-game point totals to moneylines to point totals by quarter to the spread. For example, suppose the market for Morant’s points was set at 17.5. With each point Morant scores, the sportsbook will shorten the odds on the bet.

We have an excellent list of the top places to bet online (that take U.S. customers). If you are looking to maximize your first deposit, we also have a great comparison of the best sportsbooks signup bonuses for you. Once you’ve read the primer below on reading the odds, you will have no problem navigating these sites.

Seeing just a decimal number may seem confusing if you’re still figuring out how do odds work. However, this format is really the most straightforward when it comes to how to read odds. Once you understand the odds, then you’ll be more prepared to make a bet and more importantly, win your bet!

That said, if you’re planning to visit a state where gambling is legal, and intend to bet, you should at least be armed with some information. In this case, you should look out for the relative offensive and defensive capabilities of both teams. This is one of the most straightforward bets to understand, but it can be tough to predict. In this case, it’s favored that the final score of the match will be less than (“under”) 45 points. Dutch Book Theorem is a type of probability theory that postulates profit opportunities will arise when inconsistent probabilities are assumed in a given context.

The team with the negative number is the favorite, and is most likely to prevail. One advantage of betting on the moneyline is that the sportsbook’s profit is baked into the line itself. So, unlike point spreads or totals bets, there is no need to pay any vig on top of your wager. Since sports betting is new in Colorado, it’s important that Coloradans understand this common betting type.

Of course, when the point spread is taken into account, the favorite and the underdog will each have close to a 50% chance of covering the spread. With these betting odds, you are wagering on whether the favored team in a matchup will not only win, but win by more than the number of points that the provider is estimating. A moneyline is one of the simplest kinds of betting odds explained in this guide. Here you are simply betting on a result of a match, whether that is one team winning or the game ending in a draw. As long as you pick the correct outcome, this bet will payout for you. In a professional sports matchup, a point spread is given to each team for sports betting purposes.

For example, at BetRivers you can place a wager on any and all of MLB’s 30 teams to win it all next season. A point total bet is decided based upon how many points both teams combine for during the contest. If the denominator is larger, however, the profit will be less than your wager.

Explaine:Good & Bad Odds, Just what do they really imply?

What Does “plus” And “minus” Mean In Sports Betting?

The odds for favorites are accompanied by a minus (-) sign, indicating the amount you need to stake to win $100. You can figure out how to read odds with point spreads by taking a look at the number shown next to the odds. For instance, if you see Dallas Cowboys +7, you are betting on whether or not the Cowboys will win their game by more than 7 points.

That is, one wins only $10 against every $11 wagered on Golden State to be the champions. Meanwhile, one wins $9 against each $4 (i.e., 3.25 times) put at stake for Houston to win, which is a bit less probable. American odds, depending on the negative or positive sign, either indicate the amount one needs to wager to win $100 or the amount one would win for every $100 staked.

Considering these points will help you make successful moneyline bets. To find an undervalued favorite, you also need to look at less higher-profile games. High profile games in the NFL attract a lot of betting interest and often the odds and subsequent payouts reflect that. Say the Detroit Lions are scheduled to play the Indianapolis Colts. Neither of these teams is high profile enough to avoid moneyline betting. Doing your research and checking the moneyline market will help you assess the best option for an undervalued favorite.

+350 would mean for every 100 you risk you will gain 350 if the bet wins. In this example, the 49ers carried the plus sign and were, therefore, the underdog. The Chiefs took the minus sign and were, hence, the favorite. Since both numbers behind the plus and minus signs were close to 100, you could tell that both teams were a close match for each other. With odds like this, you could have expected a game full of fireworks.

For example, in a football game, the oddsmakers may set the odds for which team will get more running yards. While moneylines, point spreads, and totals generally focus on the short term and specific matches, futures are long-term betting odds. They focus on events that will happen further down the line—in the future.

Obviously there has to be a catch, though, or the bet would be way too simple. The sportsbooks balance their risk by setting different prices on each team. You win a smaller amount than you bet if you pick the favorite, and you generally win more than you bet if you pick the underdog. The stronger the favorite the less you will win, and vice versa. When a money line is a positive number then the odds are the amount you would win if you were to bet $100 and were correct. For example, a money line of +200 would mean that you would make a profit of $200 if you bet $100 and were correct.

That’s an ideal that rarely happens – especially in sports without a pointspread, like NASCAR and golf. If Team A is getting too much action, I’ll move the line toward Team B to try to achieve that balance. My personal preference is to tweak the vig from –110 to –105 or +100 before taking the bigger step of moving the spread a half-point or more. You see “4” most commonly because the extra $10 you have to bet to win $100 is called the “juice” that the books keep as a fee for making the line available to you. Straight bet – Amid all the fancy and lucrative-looking bets that are available, never lose sight of the value in a standard straight bet. This is often estimated by the ratio of the number of times that the event of interest occurs to the number of times that it does not.

Explaine:Favourable & Damaging Chances, What will they mean?

Tn Sports Betting Odds

A nice profit can be made if a touchdown or more underdog pulls off an outright win. Of course, it’s still a risky proposition to bet on a team expected to lose by a touchdown or more to win the game outright. They have to win by the point spread offered by the sportsbook.

Since one team may be heavily favored against their opponent, the money lines offer a much wider range of odds. The point spread is another form of betting odds that’s very similar to a moneyline bet. The difference is that in addition to predicting who will win the game, the point spread includes a margin of victory. In certain cases—such as in college basketball and college football—there is a huge discrepancy in talent between the two teams playing. In those cases, betting the moneyline is too obvious, because it is clear that one team will beat the other.

In order to win $100 on the Penguins , you’ll need to wager $130. If you wagered $100 on the Senators , you’d be set to win $110. When you see -150, +230, or any other three-digit number with a +/- in front of it, you’re dealing with American betting odds. The simplest definition is when a game ends right on a predicted margin or ends in a tie. To illustrate this, let’s use the current point spread odds on an upcoming XFL game at PointsBet Sportsbook. Therefore, FanDuel believes Pittsburgh is more likely to win this game than Montreal.

In this case where both teams have a ” + ” in front of their odds, the team with the lower number is the favorite. The lower number also means a lower payout, which is always the case for betting the favorite on the moneyline. A $100 bet on Arsenal +150 would net $250, while a $100 bet on Everton +190 would net $290.

The point spread is the projected number of points that separate two teams. A favorite “gives” points and is identified with a minus sign next to their point spread. The underdog “gets” points and is identified with a plus sign next to their point spread. Illinois passed sports betting legislature June 2019 and launched at physical sportsbooks March 2020, becoming the 15th state to offer wagering.

Typically the vig is -110, and you read this number like a moneyline bet .On a vig of -110, I must bet $110 to make a $100 profit. When the spread is small, moneyline bets are often better since the spread does not indicate a clear underdog. Know that odds at the track tell you amount of profit you will make per dollar spent.

Indiana passed a bill to allow sports betting in 2019 and wagering started in October with online betting opening a couple months later. Prop bets, or “proposition bets,” can be on literally just about anything. We’ll get into that more in other pieces, but the heavier the team, player, situation or bet in general is favored to succeed, the higher the negative money line. Betting on the favorite allows bettors to get a jump on this, as long as the favorite starts strong. +500 is a way to represent the odds of a bet, it means that for every 100 you gamble you win 500.