Betting Odds Explained Sports

• Fractional Betting Odds Explained
• Vegas Sports Betting Odds Explained
• American Sports Betting Odds Explained

Thanks to online betting guides for beginners, now you have everything about sports betting odds explained. You can set up all types of sports betting odds at Vbet All sports betting odds explained. So, there are three popular types of betting odds – American, Fractional, and Decimal. Predictably, American odds are mostly used at US-based. Sports Betting Odds Explained In May of 2018, the supreme court struck down a federal law that bars gambling on football, basketball, baseball, and other sports in US states. This rule change gave states the go-ahead to legalize betting on sports. One research firm estimated 32 states would probably offer sports betting within five years.

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.

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: 3/2

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 really compare the NASCAR or PGA odds with NFL, and vice versa. Each page is crafted specifically for an individual sport making it easier for bettors to learn the ins and outs of betting on whichever sport they choose.

Online Sportsbooks With The Best Sports Betting Odds Available

Now we come to the online sportsbooks + sports betting sites that actually offer the odds we are explaining. There are plenty of betting sites out there, but we have decided to list only those we felt were of the highest level of quality. When personally and individually tested these sportsbooks in order to figure out exactly what they have to offer. In the end, we decided to play with those offering the highest paying odds, the most diverse set of betting types, and a fairly wide range of different sports. Throw in the big bonuses and easy financial transfers and what you get is one of the best sets of betting sites on the Internet.

Bovada Sportsbook - More Betting Odds Than Other Sports Betting Sites

Its already know that Bovada is one of the better online sportsbooks for players to sign up for. The fact that there are so many betting options on this sportsbook makes it known to be a better site as well. Most of the time players look for sites that have the total package which is what Bovada has. Players will flock towards Bovada and one main reason for that is because of the betting odds that are offered to players.

The odds offered on Bovada are her for a player to place big-time bets and make a lot of cash. This makes it very easy for players to pick which bets they want to place. Because of these great betting odds offered, it is known that players are cashing big on parlay bets. More players have a lot got involved in live betting as well because these odds that are here on Bovada are better than other sites they have visited. Because of these betting odds offered, the attention Bovada will get will only increase!

BetOnline Sportsbook - New Bettors Get Bonuses On Every Deposit You Make For Life

There is no doubt that BetOnline has a lot of players that have accounts with them. There are many reasons for that and this list of players will continue to grow and will for the right reason. Even though the age requirement of 18 and older to sign up is one thing that players notice when it comes to BetOnline, the betting odds are something that also grabs a lot of attention as well. These betting odds that are here on the prop bets and are much better than most other online sportsbooks.

Knowing how betting odds work is important and that also will make it easier to understand why BetOnline has the best betting odds for all players. These close odds are what players like and most of the time this will decide what bets they place. With a team being slight underdogs with those odds definitely makes players think if they want to place a bet on those teams and these upsets can end up earning players a lot of extra money! BetOnline odds are very good and makes players consider both sides.

MyBookie Sportsbook - Betting Odds The Best Here On MyBookie

Mybookie is clearly known to be one of the better sites for many players. The number one thing that players check out when they sign up for online sportsbooks is what kind of bets that it offers and there is no doubt that MyBookie has any bet that players can think of. With so many different betting options comes the betting odds as well. The odds here for are taylor made for players. This means that these odds are very good for players because they are close and have players considering to take the upset over the favorite sometimes.

Taking the upset sometimes over the favorite can be the way that players can capitalize big. Something as simple as picking the Miami Heat over the Los Angeles Lakers in the NBA could be considered because of the close the betting odds could be on MyBookie. The great thing about sports is nothing is guaranteed and upsets are often happening so taking an upset sometimes could be very beneficial on MyBookie. This also goes picking the favorite as well. Slight favored could mean to put a lot more money down and lead players to win more. MyBookie is known for great betting odds.

Fractional Betting Odds Explained

If you are just now diving into the ocean of odds, wager types, money lines, parlays, teasers, etc… you might be a little wary. I remember when I was just getting curious about legal sports betting, hearing my friends throw around terms like “point spread” and straight wager scared the crap out of me. I thought I would never learn the vernacular or talk the talk. I have now been wagering on my favorite games for over ten years, and am going to give you the cheat sheet that I wish I had when I was a fledgling.

You will soon see that there isn’t as much to learn as you might’ve thought, and that grasping a few key elements will open up the world of legal sports betting in a whole new way. After reading this you will have a working knowledge of sports betting odds, to the point where you will be able to walk into a casino or bar and sound like a pro.

Regular Sports Betting Odds Explained

There are two general types of sports betting odds that you will find when you walk in to a casino or log on to a legal online sportsbook. These are going to be called regular and exotic odds. We will go over the regular odds first because they are the initial bets most people starting out in legal sports betting make.

The first, and simplest type of wager will be on a Moneyline. This is simply a bet on who will be the outright winner of a game or event, without looking to the point spread, which we will cover next. You have probably seen Moneyline odds before, they look like two sets of numbers with plus and minus signs next to them.

The important thing to remember, and something that tripped me up when I first learnt about Moneylines, is that the negative number represents the favorite, and the positive number represents the underdog. Usually, you would equate a negative with a prospective loser, and a positive with a prospective winner, but with these odds they are switched. For instance, in an NFL game where the Seattle Seahawks are favorites against the Dallas Cowboys, the odds would look something like this:

• Cowboys + 180
• Seahawks – 220

The positive number represents how much you will win if you bet $100, and the negative number represents how much you must bet in or der to win $100. It’s as simple as that.

Next, we will look at the most common way to bet, which is the point spread. The point spread is basically a handicap that the bookmaker gives to the underdog in order to even out the odds. In this way, if you bet on the favorite, they must win by a certain number of points (cover the spread) in order for you to win the bet.

Again, let’s say the Seahawks are the favorite against the Cowboys. The bookmakers might give the Cowboys a five point bonus. On the sportsbook this would look like Cowboys +5, or Seahawks -5. Since this automatically adds 5 points to the Cowboys, the Seahawks must win by 6 or more points to cover the spread.

Using the Moneyline, you can figure out how much you need to bet to win on a point spread. The negative number will represent how much you must bet to win $100, and the positive number represents how much you will win if you bet $100. The Moneyline odds are not always listed, as the point spread gives enough information in order to bet.

The final term to understand for regular odds is the over/under, or totals. These are the combined scores of both teams in a game or event. Instead of putting your money on who will win, you will bet on whether the combined score of the game will go over or under the amount listed by the bookmaker. If the final score is listed at 44, the Seahawks and the Cowboys must have a combined total of points be higher to win. If the numbers tie it is called a push, and your money will be refunded.

Exotic Sports Betting Odds Explained

Now that you understand the most usual ways to bet, we can dive in to the more complicated odds types. These generally take a little more math to figure out, but can also be infinitely more profitable. I suggest making at least a few regular wagers before jumping into the world of exotic odds.

A parlay is a wagering term you will hear quite frequently. Simply put, a parlay is multiple bets linked together. In order to win, all of the bets must come out in your favor. While one loss will ruin the parlay, the multiple bets can drastically increase your potential payout.

Say the Seahawks are playing the Cowboys as the same time the Patriots are playing the Giants. Instead of placing two straight bets, you could place a parlay. If both of your teams cover the spread, you stand to win much more.

A teaser bet will take some of the risk out of a parlay. To place a teaser wager, you can combine two to ten football or basketball bets and adjust the point spread in your favor in order to up your chances of winning. This does however make for a lower payout amount.

A pleaser on the other hand will reduce your chances of winning in exchange for a larger payout. They take the spread on a parlay and subtract points in order to make it harder for you to win. The payouts can be gigantic for pleasers, but only daredevils and insiders usually pursue them because the odds of winning are quite slim.

Vegas Sports Betting Odds Explained

You will find plenty of other odds such as futures, which is simply betting on an aspect of an upcoming game or event. For now, you should be well suited to start exploring the sportsbook and placing some bets. There are always more complicated areas to look in to, but you want to place a number of “regular” bets before you start delving in to the deep end.

American, Fractional, And Decimal Odds Explained

The last thing to understand is how the odds are laid out in sportsbooks. For the most part, you will be using American odds. These are simply Moneylines, which you learned about earlier. They call them American odds because they are preferred by most American bookmakers. The odds use either a positive or a negative number. The negative represents the favorite, while the number represents how much you will have to risk to win $100. The positive represents the underdog, and the number shows how much you will win if you bet $100.

Fractional odds tend to show up on futures bets and are also popular in the UK and Australia. Yo will see a fractional number such as 5/1. Meaning five-to-one odds. This simply means that you will stand to win $5 for every $1 that you bet. If the odds are 1/1, then you will win the exact amount that you bet. As you can guess, some fractional odds mean that you will have to do some math in your head. Luckily, most legal sports betting establishments and sites have odds calculators that do it for you.

American Sports Betting Odds Explained

Decimal odds are very rare, and simply show your total payout, instead of just your profit. To calculate your decimal odds, convert the fractional odds to a decimal, and then add one. For example, 1/4 converted to decimal odds is 1.25.

Now that you have a grasp on the vernacular of the sportsbook, it is time to start wagering. There are plenty of legal online sportsbooks out there that accept players from all 50 states. I recommend checking out any of the ones that we have linked to. These sites are the top-tier sportsbooks on the web, and millions of American sports fans use them every day.