Nfl Odds Explained
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*NFL season is underway and there’s no better time to prepare yourself for NFL betting with this helpful guide to explain NFL odds, point spreads, and more.
*NFL Betting Explained This is the Definitive Betting Brain Guide to NFL Football Betting and was written to give bettors a complete understanding to betting on NFL games. As well as being the biggest show in sport, the NFL is the biggest show in gambling.
If you enjoy watching football games, then chances are you would love betting on the NFL. The problem is that a lot of people who are unfamiliar with wagering get scared away by all of the fancy lingo used so I wanted to put something together to explain the difference between futures bets, parlays, spreads, money lines and everything else that goes into football betting. If you are new to the world of sports gambling then hopefully after reading this article you can talk the talk with the experts and feel comfortable putting some bets down.Who Sets the Line?
The first thing that you need to understand is that all of the odds are set by the lines makers. These guys are very good at what they do, but their job isn’t to pick winners and losers on the games, but rather set a number that will balance the action and allow the sportsbook to make their money off of the vig or juice. For instance, it’s pretty standard to have to bet $11 to win $10 and that $1 is called the vig. If the action is balanced each player who bets $11 on team A will have a corresponding wager of $11 on team B, guaranteeing the book that $1. This is why in the NFL you are gambling as much against the public as you are the house. The casino doesn’t really care if you win, as long as they are paying you with other gamblers money.What are Line Movements?
Other NFL Spread Betting Information The most common odds associated with each side of a spread bet are (-110), which means that a $110 bet would win $100. That being said it is possible for the odds to vary slightly if the spread doesn’t perfectly handicap a game. Here is an example.
Knowing that the books set the line to balance action helps when you see the spread moving during the week. If one side is getting a lot of money poured in on them, the books will adjust their odds to favor the other side in the hopes of getting more money poured in there. If a few key players are injured and their teams announce that they will either be playing for sure or sitting on the sidelines, you can bet that it changes the perception of that team’s chances of winning and the spread will adjust accordingly to keep the action balanced. Once you make your wager, your line is locked in, but if you haven’t made your bets yet, you can only get the current number offered. One of the great things about line moves is that you can “middle” the action. Say you get Chicago at +10 against Minnesota but then Minnesota’s quarterback gets hurt during practice before the game and the line moves to Chicago +1. Well if you bet Chicago early and Minnesota late then you could win BOTH of your bets on the same game if Minnesota wins, but by less than 10 points!Straight Bets
Almost all of the picks released by our handicappers are on straight bets, which means you pick one team in one game or event. Using the standard bet $11 to win $10 ratio, that means you have to win 52.4% of your games in order to break even. You can use either the point spread or money line if betting straight bets (which we will discuss following).NFL Point Spreads Explained
Most of the wagering is done using point spreads. This is the number assigned to the team that is either added (underdogs with a + sign) or subtracted (from the favorite whose number has the – sign) to the team’s score after the end of the game. Let’s say Chicago is at +7 and Minnesota is -7. If the final score is Minnesota 31, Chicago 21 then Minnesota covered the seven point spread, if the final is Minnesota 24, Chicago 21, then Chicago covered the seven points even though they lost, since they lost by fewer points than they were getting.Understanding Money Lines
A money line bet is simply a wager on who is going to win the game straight up. Here you’ll find bigger number like Minnesota -275 and Chicago +200. This means that for every $275 you bet on Minnesota you will win $100 if they win the game outright. If you bet $100 on Chicago then you will win $200 if they come out on top. This is more popular in baseball and hockey than it is in football.Totals or Over/Unders
Another popular wager for football is to play totals which are also called “over/unders.” This number reflects the odds on the total number of points scored by both teams. If the total is set at 42, then Minnesota and Chicago would have to combine for 43 points or more to win an over wager and 41 or under for you to win an under bet.Parlay Bets
If you are looking for a bigger return on your wager then maybe the parlay bet is more your style. This is a bet where you take more than one wager and combine them into one single bet, but you have to win all of your selections in order to cash your ticket. Since it’s harder to predict the outcome of multiple events you get paid quite a bit more for parlays, with the amount of your return increasing with the number of events you combine into one ticket. If you know what you are doing then parlay betting can be profitable. You can check our house edge on parlays to see some of the payout tables and how much vig the casino is taking on these bets.Teasers and Pleasers
A teaser is similar to a parlay in that you have to win more than one of your games in order to win your bet. The difference here is that you get to add points to your team’s odds. If you are taking Minnesota -7, then in a 6-point teaser you reduce the odds down to -1 in exchange for a worse payout. You will win more of these, but you will get less money than if you win a parlay with the same number of teams.
Pleasers are the opposite of teasers. If you really like Minnesota at -7, then in a 6 point pleaser you would end up having them at -13, but here you get much better odds than with a parlay. If you are a high risk, high return gambler then this is the path for you!
For the novice sports bettor, understanding how sports betting odds work can be one of the most confusing sets of numbers you’ve ever dealt with. For those who have just started betting on sports, to know how the odds work is of key importance for a profitable and enjoyable betting experience. We are here to give you an overview of the basic styles of betting odds, how you can read the different formats, and how to use them to your favor.
While you may still be confused at the end, the only way you are going to learn how to play with odds is by adapting the appropriate information and utilizing it firsthand. To this degree, we have found various sports betting sites where you can utilize these options to the fullest extent. And, if you ever have any questions, please drop us a line at webmaster@explainbettingodds.com where we can answer all of your questions through email.
Different Types Of Betting Odds Explained
Quick Explanation Of How To Read Sports Betting Odds
*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 Football Game, The Combined Total Amount Of Points Both Teams Must Score Needs To Be Over 43 Points To Win The Wager.
*Moneyline Betting Odds - If The Money Line Has “Team A” at -150 Betting Odds Against The Colts, I Must Bet $150 To Win $100 And If Team A Wins, Then I Would Win My Bet.There are three forms of regular betting odds that you will see at every sportsbook that you visit, whether online or in person. These are the ones that you see right off the bat and the ones that really matter when you are betting on sports. If nothing else, you have probably heard them talked about by either your friends or TV broadcast on ESPN or other channels.Deposit BonusesVisit Sportsbook$1,000 Max - 50% BonusAll 50 StatesGo To BetOnline$250 Max - 50% Match46 StatesGo To Bovada$1,000 Max - 50% BonusAll 50 StatesGo To MyBookie100% to $300All 50 StatesGo To Xbet$1,000 Max - 50% BonusAll 50 StatesGo To Sportsbetting
How To Read And Understand MoneyLine Betting Odds
First there are the moneyline betting odds , which is the bet on who will win the event outright with no point spreads or other variables. You simply pick the team you think will win and place the bet. However, without using the odds, the payouts are usually much different then they would be with the odds in place.
When betting on the moneyline, the favorite will always have a negative symbol in front of the number and the underdog will always have a plus sign in front of it (an example is -150 favorite or +150 for the underdog).
How To Read The Point Spreads
Next, we come to what may be the most common type of sports betting odds, which is the point spread. They put point spreads up for all of the main sports such as football, basketball, hockey, baseball, and others. This is called ’The Spread’ and it basically tells you which team is favored and by how much. When betting the spread, you are betting that a team will win by a certain number of points, runs, or whatever. Here is an example to help you understand point spreads in football.
If you are Betting The Point Spread On ’Team A’ in Football - Favored by -6 - This means ’Team A’ must beat the other team by 7 points or more to win the bet.
If You Are Betting The Point Spread On ’Team B’ in Football Game - Underdog that is getting +6 points - This means as long as ’Team B’ does not lose by 7 or more points, then you will win the bet. If Team A wins, but only by 3 points, then you will still win and get paid.
How To Read The Over / Under Betting Odds
There is also the total score or the over/under, and this line lets you bet on whether or not the total score between all competitors will go above or below a predetermined amount. You simply look at what the Over / Under is and then bet on which you think it will be. There are over and under betting odds for pretty much every sport including baseball, football, hockey, UFC, Basketball, Horse racing, and much more.
The over/under betting odds, or the totals, work differently for each sport. If the number is 42 in a football game and you bet the over, you would need 43 points total between the two teams. In baseball betting, it is the number of runs scored that sets the total. The UFC over/under betting odds are which round the fight will end. Hockey totals are how many goals will be scored between both teams.
With the spread and the total, you will occasionally see that the odds are distributed with ’half points,’ which are in place to prevent a ’push,’ or no one winning or losing the bets. As long as there is a winner or loser, the sportsbooks will make their money on the juice and be happy.
What To Know About Vegas Betting Odds
The truth of the matter is that Vegas pretty much sets all of the sports betting odds for the entire world. All of the world’s leading experts work for the big casino companies in Las Vegas, and all of them work together to set the odds for different sports. Anytime you hear someone asking or talking about Vegas odds, they are simply talking about the odds and nothing specifically related to Vegas. All of the online sportsbooks use services that simply use the Vegas odds as a starting point for events. Then their own systems will adjust the spread depending on how people are betting at their sportsbook. Ultimately a sportsbook wants 50% of the bets on each side of a game so that they can simply make money on the juice.
Exotic Betting Odds Explained
Exotic bets are there to make for a more entertaining betting experience, but they work somewhat differently compared to the straight bets. But, the original point spread is still used in all these bets no matter how you look at it.
Parlays are essentially a combination of two or more bets into one, such as three teams winning their respective matches. These parlays are usually a long shot since so many teams have to win, but in the end, they are also some of the highest paying games. You can pick teams to cover the point spread, over or unders, or moneylines in a parlay and sometimes you can mix in different sports.
Pleasers are some of the highest paying bets, as they take the spread and then subtract points, making it harder to succeed. Then you also have to combine them into another bet of the same type in order to win. The payouts are huge, but it is not likely that these will come in unless you have the utmost luck or some sort of inside knowledge.
Teaser bets bets are the exact opposite, in that you can adjust the spread to be more favorable, thus lowering your payout but increasing your chances of winning. Either way, these are some of the more exciting ways for you to wager.
There are also ’If-Bets’, which allow you to combine two bets. The first bet has to win for the second bet to have action. If the first bet fails, the second bet doesn’t come through. If you win the first bet, you can then use the winnings on the second bet, essentially building your bankroll.
Different Formats Of Betting Odds
How To Read American Betting Odds
American odds have become incredibly commonplace, despite the fact that they are not as easy to read as other formats. As an example, American Odds read like this:
Odds To Win Super Bowl:
*Team A: -150
*Team B: +200
*Team C: +600
*Team D: +1000
With American odds, the number represented is how much you have to bet to win $100. If the number is preceded with a ’+’ sign, then you would risk less than $100 to win a wager worth $100. And, the opposite is true when the number is preceded with a ’-’ where the bettor would have to risk more than $100 just to win $100 of the wager.
In the example above, you can see that Team A has the lowest number of the group and are considered to be the favorite to win this bet. If you wagered on Team A to win the Super Bowl and they end up winning, you are going to need to risk more than $100 to win $100 as indicated by the ’-’ symbol preceding the payouts. In this particular example, a bettor would need to wager $150 to win $100.
On the opposite side of that, the other 3 teams in contention all pay better than 1 to 1 odds (risk less than $100 to win $100). Team B is at +200: risk $50 to win $100. Team C is at +600: risk $16.67 to win $100. Team D is at +1000: risk $10 to win $100.
These can be a little bit confusing but if you just pay attention to the + or - symbol then you should not have any issues. And, with a little bit of manipulation, you can see how these odds will pay if the wager ends up being a winner and that is what we’re all here for... to win.
How To Read Fractional Odds
Fractional betting odds are the easiest to understand. Just about every single sportsbook that caters to Americans has the option available for fractional odds. And, while they may seem daunting at first, you don’t really need to understand complex fractions in order to utilize these odds. Let’s look at an example:
Odds To Win Fight:
*Fighter A: 4/7
*Fighter B: 3/2Nfl Betting Odds Explained
In order to best understand these lines, you first need to look at the ratio to 1. In the example above, 4/7 odds is less than 1 and the opposite can be said for the other side as 3/2 is more than 1. Once you have determined this, you can figure out the favorite.
To figure out which side is favored, you simply need to figure out which is the lower number. In this case, Fighter A is at 4/7 odds which is less than 1 and Fighter B is at 3/2 odds which is more than 1. Fighter A’s wager is the clear favorite as it is the lower number.
So, how do you figure out what these pay? Again, we refer back to 4/7 being less than 1, and 3/2 being more than 1.
Anytime fractional odds are displayed at a value of less than 1, the bettor must risk more than they intend to win if the wager is a winner. And, the opposite can be said for if a fractional value is more than 1... that bet will pay more than what is risked.
As we said before, 4/7 odds are less than 1 so in this case, the bettor must risk $7 to win $4 from the wager. Then, 3/2 are more than 1 so when risking $2, the bettor will win $3 off the wager. As you can see, the payouts are in the fractional odds, you just need to know which way they go based on if they represent a value greater than or less than one.
Understanding Betting Odds That Use Decimals
Decimal odds are slightly more confusing than most other types of odds. In fact, we prefer not to use them when we bet but that is just our preference. Regardless, we are going to give you a little insight into these lines, as we want to give you insight about all of the common types of odds available.
If you look into these odds, you will definitely come out a little bit confused unless you are from Europe where these odds are commonly used than American or Fractional odds. The multiplication game is not as straight forward with decimal odds. Let’s take a look at another example:
Odds To Be Next President:
*Candidate A: 1.50
*Candidate B: 2.45
When looking at decimal based odds, the same thing applies to them as all the other forms of odds when trying to determine the favorite... whichever is the lowest number is favored. In the example above, the favored candidate is Candidate A at 1.50 however Candidate B is only a little bit behind at 2.45
Figuring out the payouts is where decimal odds can get tricky, but you’ll soon learn a little trick that will make these very easy to understand.
The best way to start off look at these odds is to consider them to be monetary amounts based on what you will win if you wager $1 or one euro, one pound, etc... which includes the original wager. Be sure to keep that in mind when looking at the other odds types.
If Candidate A wins the election, every $1 wagered will win $.50 plus the original $1 wagered which equals $1.50 or 1.50 odds.
Candidate B: every $1 wagered earns $1.45 which equals $2.45 or 2.45 odds.
Now That You Know How To Read Sports Betting Odds
Now that you understand how to read odds, you will then want to see how they are adapted to the different betting lines. With the straight wagers and exotic wagers alike, you will find that these odds are worked into the lines. After you figure out how to read the odds, you will then have to figure out the different types of bets that you can find through most sports betting sites. The different types of bets use odds somewhat differently, but in the end, it is all fairly similar.
We have created special pages that explain how to read the betting odds on a variety of sports. The reason for this is that some sports have betting odds available that others do not. Some sports betting odds can be broken down into a half or quarters while others are just for the entire duration of a match or game. For instance, you cannot re
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*NFL season is underway and there’s no better time to prepare yourself for NFL betting with this helpful guide to explain NFL odds, point spreads, and more.
*NFL Betting Explained This is the Definitive Betting Brain Guide to NFL Football Betting and was written to give bettors a complete understanding to betting on NFL games. As well as being the biggest show in sport, the NFL is the biggest show in gambling.
If you enjoy watching football games, then chances are you would love betting on the NFL. The problem is that a lot of people who are unfamiliar with wagering get scared away by all of the fancy lingo used so I wanted to put something together to explain the difference between futures bets, parlays, spreads, money lines and everything else that goes into football betting. If you are new to the world of sports gambling then hopefully after reading this article you can talk the talk with the experts and feel comfortable putting some bets down.Who Sets the Line?
The first thing that you need to understand is that all of the odds are set by the lines makers. These guys are very good at what they do, but their job isn’t to pick winners and losers on the games, but rather set a number that will balance the action and allow the sportsbook to make their money off of the vig or juice. For instance, it’s pretty standard to have to bet $11 to win $10 and that $1 is called the vig. If the action is balanced each player who bets $11 on team A will have a corresponding wager of $11 on team B, guaranteeing the book that $1. This is why in the NFL you are gambling as much against the public as you are the house. The casino doesn’t really care if you win, as long as they are paying you with other gamblers money.What are Line Movements?
Other NFL Spread Betting Information The most common odds associated with each side of a spread bet are (-110), which means that a $110 bet would win $100. That being said it is possible for the odds to vary slightly if the spread doesn’t perfectly handicap a game. Here is an example.
Knowing that the books set the line to balance action helps when you see the spread moving during the week. If one side is getting a lot of money poured in on them, the books will adjust their odds to favor the other side in the hopes of getting more money poured in there. If a few key players are injured and their teams announce that they will either be playing for sure or sitting on the sidelines, you can bet that it changes the perception of that team’s chances of winning and the spread will adjust accordingly to keep the action balanced. Once you make your wager, your line is locked in, but if you haven’t made your bets yet, you can only get the current number offered. One of the great things about line moves is that you can “middle” the action. Say you get Chicago at +10 against Minnesota but then Minnesota’s quarterback gets hurt during practice before the game and the line moves to Chicago +1. Well if you bet Chicago early and Minnesota late then you could win BOTH of your bets on the same game if Minnesota wins, but by less than 10 points!Straight Bets
Almost all of the picks released by our handicappers are on straight bets, which means you pick one team in one game or event. Using the standard bet $11 to win $10 ratio, that means you have to win 52.4% of your games in order to break even. You can use either the point spread or money line if betting straight bets (which we will discuss following).NFL Point Spreads Explained
Most of the wagering is done using point spreads. This is the number assigned to the team that is either added (underdogs with a + sign) or subtracted (from the favorite whose number has the – sign) to the team’s score after the end of the game. Let’s say Chicago is at +7 and Minnesota is -7. If the final score is Minnesota 31, Chicago 21 then Minnesota covered the seven point spread, if the final is Minnesota 24, Chicago 21, then Chicago covered the seven points even though they lost, since they lost by fewer points than they were getting.Understanding Money Lines
A money line bet is simply a wager on who is going to win the game straight up. Here you’ll find bigger number like Minnesota -275 and Chicago +200. This means that for every $275 you bet on Minnesota you will win $100 if they win the game outright. If you bet $100 on Chicago then you will win $200 if they come out on top. This is more popular in baseball and hockey than it is in football.Totals or Over/Unders
Another popular wager for football is to play totals which are also called “over/unders.” This number reflects the odds on the total number of points scored by both teams. If the total is set at 42, then Minnesota and Chicago would have to combine for 43 points or more to win an over wager and 41 or under for you to win an under bet.Parlay Bets
If you are looking for a bigger return on your wager then maybe the parlay bet is more your style. This is a bet where you take more than one wager and combine them into one single bet, but you have to win all of your selections in order to cash your ticket. Since it’s harder to predict the outcome of multiple events you get paid quite a bit more for parlays, with the amount of your return increasing with the number of events you combine into one ticket. If you know what you are doing then parlay betting can be profitable. You can check our house edge on parlays to see some of the payout tables and how much vig the casino is taking on these bets.Teasers and Pleasers
A teaser is similar to a parlay in that you have to win more than one of your games in order to win your bet. The difference here is that you get to add points to your team’s odds. If you are taking Minnesota -7, then in a 6-point teaser you reduce the odds down to -1 in exchange for a worse payout. You will win more of these, but you will get less money than if you win a parlay with the same number of teams.
Pleasers are the opposite of teasers. If you really like Minnesota at -7, then in a 6 point pleaser you would end up having them at -13, but here you get much better odds than with a parlay. If you are a high risk, high return gambler then this is the path for you!
For the novice sports bettor, understanding how sports betting odds work can be one of the most confusing sets of numbers you’ve ever dealt with. For those who have just started betting on sports, to know how the odds work is of key importance for a profitable and enjoyable betting experience. We are here to give you an overview of the basic styles of betting odds, how you can read the different formats, and how to use them to your favor.
While you may still be confused at the end, the only way you are going to learn how to play with odds is by adapting the appropriate information and utilizing it firsthand. To this degree, we have found various sports betting sites where you can utilize these options to the fullest extent. And, if you ever have any questions, please drop us a line at webmaster@explainbettingodds.com where we can answer all of your questions through email.
Different Types Of Betting Odds Explained
Quick Explanation Of How To Read Sports Betting Odds
*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 Football Game, The Combined Total Amount Of Points Both Teams Must Score Needs To Be Over 43 Points To Win The Wager.
*Moneyline Betting Odds - If The Money Line Has “Team A” at -150 Betting Odds Against The Colts, I Must Bet $150 To Win $100 And If Team A Wins, Then I Would Win My Bet.There are three forms of regular betting odds that you will see at every sportsbook that you visit, whether online or in person. These are the ones that you see right off the bat and the ones that really matter when you are betting on sports. If nothing else, you have probably heard them talked about by either your friends or TV broadcast on ESPN or other channels.Deposit BonusesVisit Sportsbook$1,000 Max - 50% BonusAll 50 StatesGo To BetOnline$250 Max - 50% Match46 StatesGo To Bovada$1,000 Max - 50% BonusAll 50 StatesGo To MyBookie100% to $300All 50 StatesGo To Xbet$1,000 Max - 50% BonusAll 50 StatesGo To Sportsbetting
How To Read And Understand MoneyLine Betting Odds
First there are the moneyline betting odds , which is the bet on who will win the event outright with no point spreads or other variables. You simply pick the team you think will win and place the bet. However, without using the odds, the payouts are usually much different then they would be with the odds in place.
When betting on the moneyline, the favorite will always have a negative symbol in front of the number and the underdog will always have a plus sign in front of it (an example is -150 favorite or +150 for the underdog).
How To Read The Point Spreads
Next, we come to what may be the most common type of sports betting odds, which is the point spread. They put point spreads up for all of the main sports such as football, basketball, hockey, baseball, and others. This is called ’The Spread’ and it basically tells you which team is favored and by how much. When betting the spread, you are betting that a team will win by a certain number of points, runs, or whatever. Here is an example to help you understand point spreads in football.
If you are Betting The Point Spread On ’Team A’ in Football - Favored by -6 - This means ’Team A’ must beat the other team by 7 points or more to win the bet.
If You Are Betting The Point Spread On ’Team B’ in Football Game - Underdog that is getting +6 points - This means as long as ’Team B’ does not lose by 7 or more points, then you will win the bet. If Team A wins, but only by 3 points, then you will still win and get paid.
How To Read The Over / Under Betting Odds
There is also the total score or the over/under, and this line lets you bet on whether or not the total score between all competitors will go above or below a predetermined amount. You simply look at what the Over / Under is and then bet on which you think it will be. There are over and under betting odds for pretty much every sport including baseball, football, hockey, UFC, Basketball, Horse racing, and much more.
The over/under betting odds, or the totals, work differently for each sport. If the number is 42 in a football game and you bet the over, you would need 43 points total between the two teams. In baseball betting, it is the number of runs scored that sets the total. The UFC over/under betting odds are which round the fight will end. Hockey totals are how many goals will be scored between both teams.
With the spread and the total, you will occasionally see that the odds are distributed with ’half points,’ which are in place to prevent a ’push,’ or no one winning or losing the bets. As long as there is a winner or loser, the sportsbooks will make their money on the juice and be happy.
What To Know About Vegas Betting Odds
The truth of the matter is that Vegas pretty much sets all of the sports betting odds for the entire world. All of the world’s leading experts work for the big casino companies in Las Vegas, and all of them work together to set the odds for different sports. Anytime you hear someone asking or talking about Vegas odds, they are simply talking about the odds and nothing specifically related to Vegas. All of the online sportsbooks use services that simply use the Vegas odds as a starting point for events. Then their own systems will adjust the spread depending on how people are betting at their sportsbook. Ultimately a sportsbook wants 50% of the bets on each side of a game so that they can simply make money on the juice.
Exotic Betting Odds Explained
Exotic bets are there to make for a more entertaining betting experience, but they work somewhat differently compared to the straight bets. But, the original point spread is still used in all these bets no matter how you look at it.
Parlays are essentially a combination of two or more bets into one, such as three teams winning their respective matches. These parlays are usually a long shot since so many teams have to win, but in the end, they are also some of the highest paying games. You can pick teams to cover the point spread, over or unders, or moneylines in a parlay and sometimes you can mix in different sports.
Pleasers are some of the highest paying bets, as they take the spread and then subtract points, making it harder to succeed. Then you also have to combine them into another bet of the same type in order to win. The payouts are huge, but it is not likely that these will come in unless you have the utmost luck or some sort of inside knowledge.
Teaser bets bets are the exact opposite, in that you can adjust the spread to be more favorable, thus lowering your payout but increasing your chances of winning. Either way, these are some of the more exciting ways for you to wager.
There are also ’If-Bets’, which allow you to combine two bets. The first bet has to win for the second bet to have action. If the first bet fails, the second bet doesn’t come through. If you win the first bet, you can then use the winnings on the second bet, essentially building your bankroll.
Different Formats Of Betting Odds
How To Read American Betting Odds
American odds have become incredibly commonplace, despite the fact that they are not as easy to read as other formats. As an example, American Odds read like this:
Odds To Win Super Bowl:
*Team A: -150
*Team B: +200
*Team C: +600
*Team D: +1000
With American odds, the number represented is how much you have to bet to win $100. If the number is preceded with a ’+’ sign, then you would risk less than $100 to win a wager worth $100. And, the opposite is true when the number is preceded with a ’-’ where the bettor would have to risk more than $100 just to win $100 of the wager.
In the example above, you can see that Team A has the lowest number of the group and are considered to be the favorite to win this bet. If you wagered on Team A to win the Super Bowl and they end up winning, you are going to need to risk more than $100 to win $100 as indicated by the ’-’ symbol preceding the payouts. In this particular example, a bettor would need to wager $150 to win $100.
On the opposite side of that, the other 3 teams in contention all pay better than 1 to 1 odds (risk less than $100 to win $100). Team B is at +200: risk $50 to win $100. Team C is at +600: risk $16.67 to win $100. Team D is at +1000: risk $10 to win $100.
These can be a little bit confusing but if you just pay attention to the + or - symbol then you should not have any issues. And, with a little bit of manipulation, you can see how these odds will pay if the wager ends up being a winner and that is what we’re all here for... to win.
How To Read Fractional Odds
Fractional betting odds are the easiest to understand. Just about every single sportsbook that caters to Americans has the option available for fractional odds. And, while they may seem daunting at first, you don’t really need to understand complex fractions in order to utilize these odds. Let’s look at an example:
Odds To Win Fight:
*Fighter A: 4/7
*Fighter B: 3/2Nfl Betting Odds Explained
In order to best understand these lines, you first need to look at the ratio to 1. In the example above, 4/7 odds is less than 1 and the opposite can be said for the other side as 3/2 is more than 1. Once you have determined this, you can figure out the favorite.
To figure out which side is favored, you simply need to figure out which is the lower number. In this case, Fighter A is at 4/7 odds which is less than 1 and Fighter B is at 3/2 odds which is more than 1. Fighter A’s wager is the clear favorite as it is the lower number.
So, how do you figure out what these pay? Again, we refer back to 4/7 being less than 1, and 3/2 being more than 1.
Anytime fractional odds are displayed at a value of less than 1, the bettor must risk more than they intend to win if the wager is a winner. And, the opposite can be said for if a fractional value is more than 1... that bet will pay more than what is risked.
As we said before, 4/7 odds are less than 1 so in this case, the bettor must risk $7 to win $4 from the wager. Then, 3/2 are more than 1 so when risking $2, the bettor will win $3 off the wager. As you can see, the payouts are in the fractional odds, you just need to know which way they go based on if they represent a value greater than or less than one.
Understanding Betting Odds That Use Decimals
Decimal odds are slightly more confusing than most other types of odds. In fact, we prefer not to use them when we bet but that is just our preference. Regardless, we are going to give you a little insight into these lines, as we want to give you insight about all of the common types of odds available.
If you look into these odds, you will definitely come out a little bit confused unless you are from Europe where these odds are commonly used than American or Fractional odds. The multiplication game is not as straight forward with decimal odds. Let’s take a look at another example:
Odds To Be Next President:
*Candidate A: 1.50
*Candidate B: 2.45
When looking at decimal based odds, the same thing applies to them as all the other forms of odds when trying to determine the favorite... whichever is the lowest number is favored. In the example above, the favored candidate is Candidate A at 1.50 however Candidate B is only a little bit behind at 2.45
Figuring out the payouts is where decimal odds can get tricky, but you’ll soon learn a little trick that will make these very easy to understand.
The best way to start off look at these odds is to consider them to be monetary amounts based on what you will win if you wager $1 or one euro, one pound, etc... which includes the original wager. Be sure to keep that in mind when looking at the other odds types.
If Candidate A wins the election, every $1 wagered will win $.50 plus the original $1 wagered which equals $1.50 or 1.50 odds.
Candidate B: every $1 wagered earns $1.45 which equals $2.45 or 2.45 odds.
Now That You Know How To Read Sports Betting Odds
Now that you understand how to read odds, you will then want to see how they are adapted to the different betting lines. With the straight wagers and exotic wagers alike, you will find that these odds are worked into the lines. After you figure out how to read the odds, you will then have to figure out the different types of bets that you can find through most sports betting sites. The different types of bets use odds somewhat differently, but in the end, it is all fairly similar.
We have created special pages that explain how to read the betting odds on a variety of sports. The reason for this is that some sports have betting odds available that others do not. Some sports betting odds can be broken down into a half or quarters while others are just for the entire duration of a match or game. For instance, you cannot re
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