Betting Odds Calculator
When the odds for two teams are even, meaning 1 to 1, it means that each team is equally as likely to win the game. If Team A is assigned 2 to 1 odds, it means Team B is twice as likely to win. If Team A is assigned 10 to 1 odds, it means Team B is ten times as likely to win.
The implied probability of +265 odds is 27.39% (100/(265 +100). Therefore, the fair price of a two-team parlay (both teams at -110 odds) is +300 (100/(300 + 100). This is why sportsbooks will encourage you to make parlay bets. Also, if the sportsbook offers promotions around parlays, you can sometimes get a better value on the odds.
Odds are significant when selecting a sportsbook because they affect your money. If you choose a sportsbook with poor odds, you will end up wasting money every time you place a bet. Moneyline boasts one of the most comprehensive assessments of odds in the industry. Based on 34,000 data points from over 1,700 individual bets, we found the following sportsbooks offer the best odds on moneyline bets.
The juice is another term for the “vig” or “rake,” and it is the money a sportsbook or sports betting operator takes on a wager. The decimal odds format, also known as European odds, represents the multiple of your stake that you will get back for winning a bet. While these are more common at overseas betting exchanges, you may see these at US betting sites. For example, betting on a market priced at 2.5 means you would win two and a half times your stake if your bet were to win.
A few well-placed underdog money line wagers can really give you a big boost. A 7-point spread simply refers to the number of points posted alongside a team’s odds of winning. When there is a 7-point spread, it means that the favorite team needs to win by more than 7 points to win the bet. It also means that the underdog can lose less than 7 points to win the bet.
This means that the team you are betting on must win or not lose by a predetermined margin of points. Now that you’re an expert in reading sports odds, get out there and start winning some money! Sharp bettors are informed bettors, and not all sports are created equal. Consider checking out our comprehensive guide covering how to bet on sports before you lay down your first wager. The potential winnings are greater when betting on Alvarez, the “underdog” in this fight.
We cannot use this to calculate Pittsburgh’s, however, because they have negative odds. Many popular wagers, including most point spread bets, will see both sides with negative odds. Because the point spread serves to level the playing field between two sides, you’ll often need to risk more than you profit when betting on the spread. This is what is called a “spread” bet, or “betting against the spread.” This is a very common bet in basketball and football games, but it is seen in other sports as well.
Also, depending on how the betting is affected by jurisdiction, taxes may be involved for the bookmaker and/or the winning player. This may be taken into account when offering the odds and/or may reduce the amount won by a player. To calculate our profit from Plus American odds, we multiply our stake by the plus odds then divide by 100. Indeed, with our betting odds calculator, you can remove some of the complicated math. Ideally, the lines I release will balance the action equally, so that the winners get paid out from the pockets of the losers and we take the vigorish. That’s an ideal that rarely happens – especially in sports without a pointspread, like NASCAR and golf.
For example, fractional odds of 23/20 would represent a bettor needing to risk $20 in order to profit $23. Reading sports betting odds can seem complicated at first glance. The -110 listed is the actual odds given for these bets, and the odds determine how much you win based on the amount of your wager. Of course, you don’t need to literally bet $110; that is just the ratio of the amount bet to the amount won. Fractional odds are used more commonly in parts of Europe and in horse racing. To calculate fractional odds, you have to do some mental division or enter your desired amount and see what the sportsbook shows as your payout.
Generally, this number will be “-110” at an American sportsbook or something like “1.91” at a European book. In either of these two examples (they’re the same, just denoted differently), you’re laying $11 for every $10 you hope to win. The Steelers, on the other hand, appear to be a team in decline. After years of success, they lost many pieces from a once-elite offensive line and QB Ben Roethlisberger may be on his last legs. Still, they put together an elite defense last season, so the market sees them quite competitive with the Browns.