Guide » How To Read Betting Odds
Remember, positive odds indicate the underdog, and negative odds indicate the favorite. With standard spreads, you’ll also see more of a difference between the teams’ corresponding money line odds with the underdog producing a bigger payout compared to the favorite. The negative and positive sign have more implications than simply indicating which betting option is more likely to win. The only exception is when both betting options are very close, and both have negative odds; in this case, the favorite has the number deeper within the negatives. If both odds are the same it means the sportsbook thinks both teams are evenly matched.
This means bettors are paying what is essentially an extra 5% levy on every bet, win or lose. A bettor needs to win 52.38% of their bets just to break even. Over/Under bet is for betting if over or under x goals will be scored. The most common form is the so called line, in hockey 5.5 goals, and 2,5 in football, although there are other possible lines.
If the teams score exactly 46 points, the result will be a push and all wagers will be returned. 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. This is why the odds are often called the price of a bet. When you see -110 odds, you need to bet $110 to win $100. Of course, you don’t need to literally bet $110; that is just the ratio of the amount bet to the amount won. The terms for how many places are paid and the adjustment of the odd may vary from event to event.
A wager on the under reflects the opposite – you think fewer will occur. Both had teams featured productive, high-volume quarterbacks leading their passing offenses. Furthermore, the Chiefs had a middle-of-the-road defense and had scored pretty easily in the first meeting between the teams, putting up 27 points and finishing the game kneeling in Tampa Bay territory. The game also took place in a warm-weather city with mild wind. Another example is last season’s Super Bowl between the Kansas City Chiefs and the Tampa Bay Buccaneers.
Again, this is how they reduce their risk and ensure their safe profit. The Red Sox have a 60% implied probability of beating the Dodgers according to the odds, regardless of whether you’re using American, decimal or fractional odds. Often used for horse racing and prop bets in other major sports, fractional odds represent how much you’d earn based on a certain stake. The implied probability for the Dodgers winning is 44%.
If all you had to do were pick the winning team in a game, everybody would simply wager on the best team or the home team in a even matchup and bypass all the lines and collect their winnings at a high rate. The simplest way to think about a moneyline is to consider a base bet of $100. A moneyline is a number larger than 100, and it is either positive or negative. A line with a positive number means that the team is the underdog. If the line, for example, was +160 then you would make a profit of $160 if you were to bet $100. Obviously, then, the team is a bigger underdog the bigger the number is – a +260 team is perceived to be less likely to win than a +160 team.