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.
Odds can refer to moneyline, spread and total bets, and they can be displayed as American, British (fractional) or European (decimal). While odds look different, they mean the same thing.
How do Plus and Minus Odds Work? In a betting line between two teams, the team expected to win, or favorite, will have minus or negative odds. This means for every dollar wagered, you will earn less than a dollar if your bet wins. The team expected to lose, or underdog, will have positive or plus odds. If the odds are minus (–), then that amount of money must be wagered to win $100. –150 means you must bet $150 to win $100.) If the odds are plus (+), that amount of money would be earned on. The plus indicates the potential payoff of a $100 bet while the minus shows the amount needed to realize a $100 payoff.350 odds means that a winning $350 bet results in a $100 profit (plus the return of the $350 stake). Are lower odds better? Low odds generally indicate the potential for something.
American Odds
Most sportsbooks in the United States use American Odds. The main signifiers of American odds are that they either have a plus (+) or minus (-) in front of them and are in terms of 100.
Understanding plus (+) and minus (-) odds is the most important thing before learning about American odds.
Plus and Minus Odds
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. If you bet the Cowboys -7 and they win by more than seven points, you win your bet. Similarly, if you bet the Packers +7 and they lose by less than seven points or win outright, you win your bet.
It's a similar case for the betting odds, though favorites don't always have a ' - ,' especially in sports like baseball, hockey or soccer where final results are often decided by one run or one goal. It's especially the case in soccer since matches can end in draws, whereas a winner is declared in almost every other sport because of overtime rules. However, in most cases, the favorite will have a ' - ' in front of its moneyline odds while the underdog will always have a ' + .'
- The standard odds payout for a point spread bet is -110. This means that either side that you wager on will be paid out at -110 for a correct pick. This means that for every $100 you wager, you will profit $90.91. Point Spread Betting Strategy. Sports betting is not just about being able to pick out the winner and loser of a game.
- If not, the gamblers who bet the point spread on the Spurs would win. The plus and minus sign are predictive of which team is more likely to win the game, straight-up. 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.
Betting Plus Minus Spread Nfl
For an example of moneyline betting odds, you can bet the Eagles as a -150 favorite to win or the Giants as a +180 underdog to win. If you bet $100 on the Eagles to win at -150, you would net a payout of $166.70. If you bet on the Giants to win at +180, the payout would be $280 because they are an underdog.
For something like soccer, Arsenal could be a +150 favorite against Everton as a +190 underdog, while the draw would be set at +220. In this case, the payout would be decent for every situation mainly because the teams are even and there are three possible results compared to just two for something like football (unless they go scoreless in overtime). 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. Going further, a $100 bet on the draw at +220 would payout $320.
Moneyline Bets
A moneyline bet is on the straight-up winner of a game.
Moneyline bets are as straightforward as it gets in sports betting. You're betting on which side will win an event and if that side wins, you win.
Spread Bets
A spread bet is on the forecasted point differential between two teams. A minus (-) indicates the favorite and a plus (+) is the underdog.
In each bet, a push is also possible if the Lakers win by exactly seven points. That would mean each side gets their money back.
As for the odds, the most common number for spread bets is -110, but that number varies depending on the location, sportsbook and how popular each side is. The typical number is -110, which means you have to bet $110 to win $100. However, there are states where odds are worse in order to get the state more money such as -115 or -120. This is also called the vig, which is the amount the sportsbook charges per bet.
If two teams are equal, PK will be given alongside a team name which means the matchup is considered a 'pick 'em.' In this case, point spread doesn't matter as this boils down to a moneyline bet and a tie would get your money back.
Over/under (total) Bets
An over/under bet applies to the score or points in a given contest.
The below over/under table is for the Dallas Cowboys and New York Giants game. 4 1 as a decimal odds.
Similar to a spread bet, if the Cowboys and Giants combine for exactly 49 points, it's a push and each side get their money back. Also similar to spread bets is that the odds can vary.
Decimal Odds (British)
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.
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.
Fractional Odds (European)
Fractional odds are most popular in the United Kingdom and Ireland, and are often the choice for horse racing. Also, a lot of sportsbooks in the United States will use fractional odds for futures odds.
Example odds to win the Super Bowl:
Similar to decimal odds, the return can be determined by multiplying the odds and the bet. Above, 100 times 2.5 (5/2) equals 250. In horse racing, odds will dip to something like 3/5 or 5/7 which usually means that horse is a big favorite. A 3/5 favorite is equal to -167 in American odds and 1.6 in decimal odds.
There are numerous types of bets and markets available to sports bettors. Unfortunately, this leaves many beginners to this type of punting, both bewildered and overwhelmed. The most important and popular type of sports bet to understand when delving into a sportsbook is the points spread.
Introduction to Point Spread
Point spreading is most commonly used in globally loved sports, such as football, soccer, and basketball. Yet, there are many wagers based on the point spread format. You can find these throughout most sports in some way.
Betting on this type of wager is advantageous to both the punter and the bookmaker. It enables you to bet on both teams, rather than going for a straight win. There is no surprise that the bookmakers with high traffic make sure to include it on their platform. In return, this means that the sportsbook can make money on more punts placed.
Below you'll discover everything you need to know about point spread betting. Read on to become a master of the odds.
How to Read Point Spread Odds?
As with all sporting teams, there are better ones and others that struggle. That's what makes sports so entertaining after all. Point spread betting evens the playing field by giving the favourite team to win and the underdog an equal chance of winning in the eyes of a punter.
To understand this further, you'll need to be aware of the plus and minus signs when viewing the point spread. The team predicted to come out on top will have a minus spread. They have to score by that amount or more to win your punt.
The underdog team will have a plus spread. They must either win outright or lose within the margin. After the point spread, you'll also see the money line figures.
Detroit: +1.5 (-110)
New England: -1.5 (+120)
As you can see from this, New England are the favourites to win the matchup. The -1.5 means they must win by at least two points to cover the spread, and your punt comes in. On the other side of the field, Detroit needs to win outright and have a loose limit of 2 points before your wager is worthless. If neither of the teams covers the spread, then the bet is a ‘push,' and you'll receive a refund.
Betting Plus Minus Spread Odds
What Is Point Spread Betting Odds?
The point spread betting odds refer to the money line figure mentioned previously. These are typically displayed in the American odds format and don't wonder why bookmakers provide different odds as this is common practice. American odds also use a plus and minus sign in front of the value.
A figure with a minus symbol in front indicates how much money it takes to win back €/£/$100. On the other hand, a plus symbol represents how much profit punting €/£/$100 will make.Using the odds from the NFL 2020 season would mean to win €/£/$100 from punting on Detroit, you would have to stake €/£/$110. Betting on the New England patriots is much more favorable for your pocket. With this bet, you can earn a €/£/$20 profit from placing a €/£/$100 bet.
Play Free Slots in Vegas World Choose from over 45 slots games in Vegas World and win the Jackpot! Play free slots games including Jewelbox Jackpot slots, Mystic Millions slots, Shoebox slots, and many more. Also, get bonus Coins in your free spins and unlock new free slots to. The mobile gaming industry is a big deal. Over 13 million people play online casino games every month, for a good reason: it just makes sense to play on your phone or tablet. The convenience offered by mobile gambling simply can't be matched by your local casino, or even the most famous casinos in Las Vegas and Atlantic City. Vegas online, free slots games. Vegas Casino Online. Choose from more than 120 games including all your favourites and the best selection of slots games anywhere! 24 hours support. We are here for you 24 hours a day, every day! Join the excitement at Vegas Casino Online Get free slots software and an additional 150% added to your first deposit. Home Free Download Games Promotions.
You don't need to wager €/£/$100 at a time. Your stake and winnings will calculate accordingly using this model.
How to Calculate the Probability and Payout
It's difficult to determine the implied probability of a game by using the point spread only. Sportsbooks add ‘juice' to the house edge for them to make an equal profit from both ways. It's simpler to use the American odd figures to calculate the probability of each team winning. The formulas which you can use is:
- Positive numbers
Implied Probability = 100/ (positive odds + 100) x 100% = % - Negative numbers
Implied Probability = [Negative American odds / (Negative American odds + 100)] x 100 = %
Calculating your payout is straightforward. You just need to apply a small equation to figure it out. The formula is – Potential profit = stake x odds/100.
The ‘Vig,' the ‘Juice' and the ‘House Edge' Explained
These three terms describe the odds and margins of the sportsbooks. Point spread odds on the Moneyline typically go up in increments of 10, and pricing across different sportsbooks will differ. The odds made this way benefit the house edge (make a profit).
The odds are also known as the vigorish or ‘vig‘ for short. Plus, the profit margin which the bookmaker adds to make money on your wagers is the ‘juice.'
Considering this, it's always best to shop around before committing to an online sportsbook. Search for and read reviews about, ones that boast about low juice and the best vig. The higher the sportsbook juice, the less value your wager will have.
What Is Point Spread and Odds Movement?
As touched upon previously, bookmakers aim to equalise their profit on both sides of a point spread. By doing this, the sportsbook will make money over time no matter which way punters wager, maximising their revenue.
Betting Plus Minus Spreads
To some, this may seem a little unfair. Instead, think of it as paying for the service of placing a bet. To keep both sides of the spread equal, you may notice that over time the point spread, the odds might move.
Sportsbook operators will move these figures to create more of an interest. Especially, if we talk about football betting and one of the sides isn't getting much attention, thereby equalising the margins. Use this tip wisely to receive the best odds for your punts.
What Are Puck Lines?
If you're a hockey fan interested in wagering on the NHL, for example, you may come across puck line betting. Puck line bets are essentially the same as point spreading on football or basketball games. Instead, the name reflects the sport of hockey. You'll also find the same betting format in baseball as run lines.
Due to the rules of hockey, most wagers placed use the Moneyline. Other common bets on hockey include straight outcomes or specific bets. However, the introduction of puck line betting has brought a broader market for hockey fans to enjoy. It has also enticed point spread bettors to get involved in the sport.
To Conclude
Sports betting has never been so diverse. There are hundreds of bet types to place and an extensive list of sports to enjoy. You can find world-famous leagues, championships and more niche options at most major online sportsbooks.
With more countries legalising online sports gambling, the world of online sports betting is opening up. In turn, this will bring new markets and betting features to take advantage of.Now that you're armed with the knowledge of how to read and use point spread betting, you'll be able to make more informed punts. Don't forget to use the formulas so that you know the implied probability of your success and the potential profit that you could make.
