How To Read Odds For Sports Betting

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 matter because they tell you how much you could potentially win on a particular wager. Learn how to read odds correctly and you will be able to calculate what your exact return will be if your bet is correct. 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?

If a team has a + sign in front of its spread, that means it is the underdog. If the team loses by fewer points than the spread shows, then you win. If there is a “+” sign, that means that you are betting on an underdog, or rather an outcome that is not expected to happen.

Any time a team has minus sign out front, the bettor knows they will be receiving less than a 2 – 1 payout figure. In fact in this case, to win $100 wagering on the Trail Blazers you would need to stake $128. When odds are involved, we don’t use the fractional form of expression like the one used above, as in something is a 3-to-1 underdog, for example. For example, a 3-to-1 underdog would be expressed as +300. A 3-to-1 favorite would be -300, meaning you need to bet $300 to win $100.

Still, they put together an elite defense last season, so the market sees them quite competitive with the Browns. In fact, it believes home field completely negates the Browns’ talent advantage. The Browns enter 2021 off a breakthrough season in which they won a playoff game in Pittsburgh.

The basic formulas vary slightly depending on if you’re betting a favorite or an underdog. For example, you could get paid +150 betting Yankees -1.5 against the Red Sox, and have to risk -200 for Red Sox +1.5 in that same game. Since the moneyline just requires you to pick a winner, we only need the odds. At +200, a winning bet on Penn State will pay you $2 for every $1 risked. Let’s use Penn State vs. Ohio State in college football as an example, with odds from DraftKings.

Most often, the information enters the market in the form of bets. Specifically, high-limit bets from sharp, winning players. These bets move the market because the sportsbooks respect the opinions of these accounts.