A key first step to being a good punter is learning how to read bets odds. Everything starts with a thorough understanding of the odds. You must know how to decide how much money you want to risk. At the same time, you must learn to identify which bets give the highest value.
To begin with, sports betting odds are displayed in a few different ways. Depending on the sportsbook’s system, the numbers might represent a lot of different things. Still, odds are often represented in three formats. These are:
- American odds
- Fractional odds
- Decimal odds
American, Decimal, And Fractional Odds: Sports Odds Explained
As mentioned earlier, odds are often presented in American, Decimal, or Fractional forms. And they have these two functions:
- They represent the implied probability of the result they are tied to.
- Sports betting odds provide the potential winnings from placing a wager on that result.
*When calculating the likelihood that an event will occur, use caution when depending only on the odds. More factors beyond only those that are directly related to how the event will turn out affect the odds.
Furthermore, your sportsbook may manipulate the odds to encourage bets on a certain side. Besides, the sportsbook takes a cut that is built directly into the odds. Therefore, the total probability for a single event will always be higher than 100%.
Additionally, the odds also show you how much the bookmaker is costing you to place a wager. Bettors may refer to this sum as “vig”, “vigorish”, “the juice,” or “the cut”.
American Odds: How To Read Bets Odds?
You’re dealing with American betting odds when you see numbers like -150, and +230. American moneyline odds are any other three-digit figure with a +/- in front of it.
What Does The + And – Mean In Sports Betting?
The – and + symbols on the sports betting line represent your potential payoff.
On the betting line, negative numbers represent the favorite team. Contrarily, the negative number represents the amount of money required to win $100.
How To Read American Odds?
In American betting odds, odds with a positive number represent the underdog. Moreover, the number refers to how much money you will win if you wager $100.
- Tottenham -130 (Favorite)
- Brighton +110 (Underdog)
Most point-spread bets, among other popular bets, will have negative odds on both sides. The point spread evens the playing field between the two teams. So when betting on the spread, you’ll frequently need to risk more money than you win.
American Sports Odds Explained: Calculating Winnings With American Odds
You must stake $130 to win $100 on Tottenham (the favorites). You would expect to gain $110 if you bet $100 on the Brighton, who are considered underdogs.
To determine the possible earnings for whatever value you choose to gamble, use the formula below.
130/100 = 40/x
To find “x”, cross-multiply to obtain 130x = 4000.
x = 4000/130
x = 30.77
So, if you bet $40 on Tottenham, you’ll win $30.77 and get paid $70.77. The $70.77 is the total of your original wager plus your winnings.
Decimal Odds: How Do Odds Work In Sports?
In sports betting, decimal odds are the simplest to deal with out of the three types of odds you’ll come across. How to read bet odds in decimal form? These are the odds in decimal form:
- Man United 2.40
- Norwich City 1.61
How To Calculate Decimal Odds Winnings?
It is simple to calculate your payoff with decimal odds. You just simply multiply your stake by the odds connected with the team you are betting on. Then, subtract the original wager from the payout to determine your winnings. Look at this:
Winnings = (Wager x Decimal Odds) – Wager
So if we placed a $75 wager on Man United (2.40), our earnings would be as follows:
(75 x 2.40) – 75 = Winnings
180 – 75 = Winnings
105 = Winnings
In contrast, if we bet $75 on Norwich City at 1.61 odds, we would win:
(75 x 1.61) – 75 = Winnings
120.75 – 75 = Winnings
45.75 = Winnings
Fractional Odds: How Do Sports Odds Work?
As the name implies, fractional odds are shown as fractions. How to read bet odds in fractional form? For example, a sportsbook in Singapore presents odds like 3/1 or 7/4. To calculate the winnings on fractional odds, multiply the wager amount by the fraction. So if you wager $10 at 3/1 odds, you’ll get your $10 back plus a profit of $30.
A $10 stake at 7/4 odds would return $17.50 in addition to your initial stake of $10. Take the denominator, four, and divide it by the amount, $10. Then, multiply the result by the numerator, which in this case is seven. This gives you 17.50 when you divide 70 by 4.
Bets on the favorite will have a denominator that is greater than the numerator. For example, 1/2 or 2/5. Conversely, underdog bets will have a numerator greater than the denominator.
How To Read Bets Odds FAQs:
American moneyline odds are those that are represented with a + or -after a number. For example, +200 is the amount you may earn with a $100 stake. If the wager is successful, you will receive total winnings of $300. This is the sum of your $100 original wager plus the $200 net profit.
The sports betting lines can shift when there is a lot of movement on one side of the wager. However, additional information might have the same effect. These include injuries, suspensions, and internal conflict. Bookmakers in Singapore are always up to date on the latest news. They use it to inform their pricing decisions.
The terms juice and vig are interchangeable. For this reason, spread and over/under bets are normally -110 rather than +100. Gambling is not free, thus the sportsbook in Singapore levies for each wager.