How To Read Odds In Sports Betting
For example, a player must bet $11 to win $10 for a total payout of $21 or $110 to win $100. Say the Bears are a six-point favorite over the Lions and the total is 42. To bet the Bears, you must “lay the points,” meaning they must win by seven or more to cover and give you the win. Betting the underdog Lions, you are “taking” six points, and they can lose by five or fewer, or win the game outright, and you have a winning bet. If the Bears win by exactly six, both sides “push” and all bets are returned.
So, to actually PROFIT $100 with the Lakers bet, you would need to wager $250. Ohio State is the perceived stronger team in this game, so the Buckeyes are the favorite at DraftKings. Based on these odds, Ohio State is expected to win about 70% of the time. The betting odds calculator allows you to input your stake & odds in American, Decimal, or Fractional formats to quickly calculate the payout for your bets. Point spread wagers often will be put into parlaysin which you make multiple bets on one slip for a larger payout.
If you make a stake at odds of 2.25, for every £1 you will receive £2.25. As far as decimal odds are concerned, an even money stake is displayed as 2.00. The next step after calculating each outcome’s possibilities is to include the cash projections into the equation. Bookmakers use advanced algorithms to calculate how much cash flow would be placed on a specific market. In addition to that, they have a database of past cash projections that helps them calculate the number better.
If you are planning to enter the betting or the gambling world, it is important to be able to understand and interpret all types of odds well. Once you have mastered the three popular types of odds , you can move towards a more detailed read on this topic and find out how the house always wins. Meanwhile, the odds for underdogs are accompanied by a positive (+) sign, indicating the amount won for every $100 staked. In both cases, you get your initial wager back, in addition to the amount won.
While the odds displayed will still be American odds, they are featured in a different order. The first column indicates what’s called a rotation number. A rotation number helps you quickly identify the bet you’re looking for, especially when there are hundreds to pick from. If the spread is -3 for the Bears, that means it is +3 for the Vikings. Most sports betting sites have functions to calculate your potential winnings in real time. If not, there are sports betting calculators that you can use to work out your potential profits if you don’t feel comfortable doing so in your head.
That’s an ideal that rarely happens – especially in sports without a pointspread, like NASCAR and golf. If Team A is getting too much action, I’ll move the line toward Team B to try to achieve that balance. My personal preference is to tweak the vig from –110 to –105 or +100 before taking the bigger step of moving the spread a half-point or more. You see “4” most commonly because the extra $10 you have to bet to win $100 is called the “juice” that the books keep as a fee for making the line available to you. When you’re examining the odds, it’s quite easy to figure out who is the favorite and who is the underdog. The favorite is the option with the smallest number on the board and that includes negative numbers.