Moneyline Bets Explained
Under 7 (-110) In order to win $100, you must wager $110 on the total combined run score to be less than 7. As we said before, a bettor laying action on a -110 point spread line must lay $110 to win $100. The oddsmakers want equal action on both sides because if they can do that, they reduce the risk of taking any big losses and guarantee their profit on the juice from each bet. Before we explain why -110 is the most common betting line in sports, let’s reiterate the fact that sportsbooks, by definition, exist to make money. Like most things in the gambling world, the whole point is to turn a profit. Again, this is how they reduce their risk and ensure their safe profit.
Just like for the point spread, the -110 indicates the payout. Now that you know how to infer meaning from American odds, it’s important to know that all bets have a clear winner. For negative odds, you divide the number in the line by itself plus 100. Then you multiply that quotient by 100 and the result is a percentage representing the likelihood of the outcome. The difference is that when you have a larger numerator, you don’t add 100 to your product.
The team with the higher of the two numbers is the underdog and the team with the lower of the numbers is the favorite. The return can be calculated by multiplying the bet with the the decimal odds. You’re betting on which side will win an event and if that side wins, you win. A parlay wager is a single bet that is linked with two or more wagers.
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. The standard number is –110, meaning a successful bet of $110 would net $100 profit. This is the “juice” or “vigorish” (aka “vig”) for the house or sportsbook.
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.
Some of these numbers have the plus symbol in front of them and others have minuses. At first glance, it can be pretty intimidating and you wouldn’t be the first person to give up right then and there. The next step is figuring out exactly how much the bet pays out, which is where the numbers in the odds come into play. If you side with Golovkin, the “favorite,” you’ll need to risk more to get the same winnings. If you want to bet your $10 on Alvarez, multiply that sum by the quotient of 11 ÷ 8 (1.375).