How To Read And Calculate Sports Odds
They also dictate how much profit a player can make when betting on an event at that sportsbook. They’re often heavily influenced by Vegas odds, football in particular. The odds for a favorite team to win the game are usually listed with a ‘-‘ sign, which indicates the amount a better would need to bet to win $100. Another example of decimal odds in action would be betting on NHL game with odds of 9.0.
We will be looking at American, decimal, and fractional odds, which are three different ways of writing the same odds. The bookmaker has offered odds of +585 for Syracuse, which indicates that the bookmaker has placed a much lower probability (about 15%) on Syracuse winning the game. One needs to risk $100 on Syracuse to make a potential win of $585. If Syracuse can pull off the upset, one gets back their initial stake of $100, in addition to the $585 won, giving a total payout of $685. This is because all you have to do to calculate your potential winnings is multiply your stake by the odds.
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. It’s also a push if the final score equals 42, otherwise the over or under will win.
For example, a money line of +200 would mean that you would make a profit of $200 if you bet $100 and were correct. That’s also equivalent to fractional odds of 2/1 and decimal odds of 3. Money line bets tend to be even more popular with underdogs. A nice profit can be made if a touchdown or more underdog pulls off an outright win. Of course, it’s still a risky proposition to bet on a team expected to lose by a touchdown or more to win the game outright.
On the flip side, however, your money is locked up for a long period of time. If you bet on a particular team to win the championship and one of their star players is injured, suddenly their prospects of winning do not look quite as good. Sometimes, the team may just hit a slump partway through the season and lose a lot of valuable momentum.
Deducting $100 from this return gives the bettor the net profit earned. These numbers merely represent the amount one could win against each $1 put at stake. Therefore, if one bets $100 on Donald Trump to be re-elected as president, this person could make a total payout of $400 ($100 x 4.00). This amount includes the initial stake of $100, giving a net profit of $300.