How To Read And Calculate Sports Odds
Here are some odds for a fictitious horse race and how you’d go about reading them. For every $1 wagered on a team with +200 odds, $2 will be paid out. Odds of +200 or greater are offered on teams that are not expected to win a game.
Essentially, a moneyline bet is a bet on which team is going to win the game. There is no point spread or other handicap for either team, so if you pick a team and it scores more points than the other team then you win. Obviously there has to be a catch, though, or the bet would be way too simple. The sportsbooks balance their risk by setting different prices on each team.
This definitely seems like a way better deal than betting $340 to win $100, but remember that Orlando has a small chance of beating the best team in the league. Some bettors may see value in this, but you should never blindly bet an underdog – or any side for that matter . Data from more than 1,700 bets was used to generate each sportsbook’s comparative odds ranking. When collecting odds, we made sure to collect the same games at the same time for each sportsbook, ensuring data accuracy. Understanding how to read odds is crucial to betting on sports.
Compare.bet US has the latest on the best legal sportsbooks in your state. Since this is a moneyline bet, these odds represent the implied probability each team has to win the game. If you wanted to bet the underdog Orlando to win the game, their money line odds are +280. Whenever a “+” is listed for odds, the number after it is how much you will win for betting $100. So in this example, a $100 bet would win $280 if the Magic win the game.
Not only will this help you understand your potential return, but it also makes it easier to compare betting odds across sportsbooks. If you’re new to the world of sports betting, one of the first things you’ll need to do is figure out how betting odds work. At a quick glance, betting odds can be quite intimidating to first-time bettors, and you may find yourself asking “how do betting odds work? ” That’s where Compare.bet can help; we’ve taken it back to the basics to explain betting odds and how they work. The handicapping and odds information found on SportsBettingDime.com is strictly for entertainment purposes. Furthermore, the unique odds we produce in select news articles are also for amusement, and are not available to be wagered on.
For example, the Golden State money line above is listed at -340 odds. Using the same principles we just discussed, $340 needs to be bet in order to win $100. Again, this is just the bet to winnings ratio – $34 will win $10, $17 will win $5, $20 will win $5.88, etc.