What are fractional odds? How do I calculate money-line odds? Threat not, for we look at how to read sports odds in this article. Like you, many would-be punters who are new to online sports gambling may have browsed a few sports betting sites and seen long lists of cryptic numbers. The more timid may be thinking a career in rocket science seems rather inviting right now.
Introduction: How To Read Sports Odds
Three different conventions have been developed between the United Kingdom, continental Europe, and the Americas. As readers browse and wager at internet sports books, they will come across all three, but have no fear. These numbers are not as complicated as they appear at first. JackpotFinder is here to help bettors understand and wager with confidence.
Fractional Odds or British Odds
One of the first things you should learn if you are going to be successful at betting is reading betting odds correctly. If you're new to betting learning how to read betting odds can be a minefield. Learn how to become an expert at online-betting.me.uk. Learn about how to read odds for online betting, including how to convert odds types and calculate the probability of your bet winning. Here's how to read sports betting odds. We cover moneyline, point spreads & over/under betting. Find out how odds are determined and change over time.
Bet365 uses Fractional odds, also known as “British odds”. This is the preferred notation in Great Britain and Ireland. (For whatever it is worth, this is also preferred by your present author.) This is what the reader sees when Bet365 states, for example, “20/21”.
The fractional odds are relative to the stake of the punter. If the odds are 20/1 (expressed “twenty-to-one” or “twenty-to-one against”), this asserts that the punter will win $2,000 profit on a $100 stake. Note that the winning punter always receives back the initial stake, so if the odds are 20/1, the punter should receive back $2,100.
Learn about the three popular formats that betting odds are expressed in: fractional, decimal, and moneyline. Find out how to interpret these types of odds.
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Up to £100 in Bet Credits for new customers at bet365. Min deposit £5. Bet Credits available for use upon settlement of bets to value of qualifying deposit. Min odds, bet and payment method exclusions apply. Returns exclude Bet Credits stake. Time limits and T&Cs apply.Conversely, if the odds are 1/20 (“one-to-twenty” or “one-to-twenty on”), the better will only make $5 on the $100 stake. The bettor would then receive back $105.
When the odds are one-to-one, that’s also known as “evens” or “even money”. In fractional odds, this is expressed 1/1, and the winner of a $100 bet will receive $200 (including the return of his stake). If still confused, you may want to look at our brief explanation of jackpot terms instead.
Decimal Odds or European Odds
Bodog uses Decimal odds, also known as “European odds” or sometimes “continental odds”, which are preferred in Canada, Europe, and Australia.
Whereas Fractional odds make it easy to calculate how much the winning punter will win, the Decimal odds system makes it easier for the punter to calculate how much the winning punter will receive. The difference? The punter has already paid out his stake, and when he wins, he gets it back, so the amount received is the winning plus the stake.
Conversion is relatively simple. Just use division to convert the fraction and then add one (1).
So, if the fractional odds are 20/1, the decimal odds are 21.0. If the fractional odds are 1/20, the decimal odds are 1.05. When the odds are even money, they are quoted as 2.
Converting from Fractional odds to Decimal odds
For the sake of comparison and to illustrate conversion, readers will recall Bet365’s money-line bet on the Colts is expressed as 20/31. We can convert this in three steps:
- Divide 20 by 31. (20 ÷ 31 = 0.64516129)
- Round 0.64516129 down to two significant digits. (0.65)
- Add 1 to 0.95. (1 + 0.65 = 1.65)
Thus Bet365’s 20/31 in decimal odds notation is 1.65. If you compare it with Bodog’s Money Line bet, you’ll notice that Bet365 has slightly better odds.
Money-line Odds or American Odds
By default, BetUS uses “Money-line odds”, also known as “American odds”. For convenience, users of this site can also toggle this, but Jackpot Finder will briefly explain it so when readers find it on other online sports books, they have an idea of what they are looking at.
Money-line odds are typically (but not necessarily) used for Money-line betting.
When the number is positive, it refers to the amount of money which will be won on a $100 wager. In the above example, a winning bet of $100 on the Titans, will result in a $100 win for the punter. Thus, fractional odds of 20/1 would be expressed as +2000.
When the number is negative, it refers to the amount which must be wagered to win $100. Thus, when the fractional odds are 1/20, it would be expressed as -2000.
Even odds can be expressed as either +100 or -100. The bet on the Titans above is in fact even odds.
We will convert both of Bet365’s Money Line bets to demonstrate how to read sports odds.
Converting from Fractional odds to a Negative Moneyline odds
Again, remember Bet365’s money-line bet on the Colts is listed as 20/31.
Because the Colts are expected to lose, we already know this number will be a negative. Therefore, we will follow these four steps:
- Multiply the numerator (20) by 100. (20 × 100 = 2000)
- Divide the product by the denominator (31) (2000 ÷ 31 = 64.516129)
- Round down to two significant digits (65)
- Take the negative (-65)
Thus Bet365’s 20/31 in money-line odds notation is -65.
Converting from Fractional odds to a Positive Money-line odds
Now, let’s look at Bet365’s Money-Line on the Titans, shown as 27/20
Because the Titans are favored to win, we know this number will be a positive. Therefore we follow these simple steps:
- Multiply the denominator (20) by 100. (20 × 100 = 2000)
- Divide the product by the numerator (27) (2000 ÷ 27 = 74.0740741)
- Round down to two significant digits (74)
- Sign as positive (+74)
Thus Bet365’s 27/20 in money-line odds notation is +74.
How to Read Sports Odds Explained
Observant readers will have noticed that the sports betting lines at different online sports books varied (check our latest sports betting odds for all major events). Not so much for it to really matter on a small bet, but enough for it to matter when large enough bets are made over time.
Smart bettors take advantage of this by hedging bets at different bookies. At this point, punters are no longer gamblers, but investors.The laws regarding personal income tax will even vary because the successful use of arbitrage assures profit and therefore the income is no longer covered by gambling law. As mentioned before, the best jackpot strategies can be found here at JackpotFinder to help you win that massive prize.
Top- Learn About
Learning how sports betting odds work can be intimidating at first, but our guide will teach you how to read odds in no time! This primer is designed for beginners who are curious about common wagering practices and terms.
Learn to Bet on Sports & Gamble Online & Offline
For starters, you will need somewhere to place bets. If you are in Vegas, great! You can bet at one of the sportsbooks in their casinos. As more and more states pass laws to legalize sports betting, you will also be able to place wagers at local casinos in your area. You could also find a local bookie to bet through, but we recommend betting online.
How Online Betting Works
We have an excellent list of the top places to bet online (that take U.S. customers). If you are looking to maximize your first deposit, we also have a great comparison of the best sportsbooks signup bonuses for you. Once you’ve read the primer below on reading the odds, you will have no problem navigating these sites.
Las Vegas Sports Betting at the Ticket Window
Betting sports in Vegas is likely going to be the option with the biggest learning curve. You will understand the odds after reading this article, but there are a few other rules and common practices you want to be familiar with that are specific to Vegas.
Many books now offer their own betting apps that make this process a little bit easier, however, the drawbacks are that you must make a deposit upfront for how much you want to bet with, plus you don’t get free drink tickets when you place bets on the app. We’ll step through how you would place a bet in person at the ticket window.
Step-by-Step Guide to Placing Sports Wagers in Vegas
“I’ll take number 403, Cowboys -8, for $110 straight up.”
- Use the rotation number/numbers and the name of the team/teams you want to bet on. The rotation number appears to the left of each team (see image above) and is used as a unique identifier so that there is no confusion about what you want.
- State the amount you would like to bet. This is how much you are wagering, not how much you want to win. Most books use -110 odds (more on this later), so if you want to win $100, you’d state $110 as your wager amount.
- Indicate the type of bet you are placing. For individual bets, just say “straight” or “straight up”, otherwise you will need to explain that you are taking a parlay or some other bet type.
- Repeat as necessary.
How to Read Sports Betting Lines
There are nearly infinite ways to bet sports. If you can think of something to bet on, there is a good chance you can find somewhere to bet on it. What we are going to focus on is the most common types of wagers: point spreads, over/unders (totals), and money lines.
What Does the Plus (+) and Minus (-) Mean in Sports Betting?
One of the first and most important aspects of sports betting every new player must learn is what the different symbols mean. A plus or a minus can mean different things in different situations. They are used for both point spread and money line betting, as well as for the price/juice of each bet.
This is explained in more detail below, but the most important thing to be aware of is that negative numbers represent favorites, while positive numbers represent underdogs. The same is true whether you are looking at a spread or a moneyline, but how these numbers are used is very different. You also need to know that prices on spreads/totals do not impact who/what is favored, it is used to determine how much the bet pays out. Read on for the complete explanation of each of these concepts.
Point Spreads Explained
The point spread is the projected number of points that separate two teams. A game with a spread will have a favorite (the team expected to win) and an underdog (the team expected to lose). A favorite “gives” points and is identified with a minus sign next to their point spread. The underdog “gets” points and is identified with a plus sign next to their point spread.
Teams | Spread | Price/Vig |
---|---|---|
New York Jets | +7 | -110 |
New England Patriots | -7 | -110 |
In the example above, the point spread is 7 points. Patriots are favored by 7 points against the Jets.
If you bet on the Jets +7, they must either win the game outright or lose by 6 points or less. If they lose by exactly 7 points, the bet is considered a push and is canceled.
If you bet on the Patriots -7, they must win the game outright by more than 7 points. If they win by exactly 7 points, it’s a push.
Bet Prices: What Does -110 Mean? If I Bet $100, What do I Win?
The 3-digit numbers to the far right are the listed prices for these bets. This is also called the odds, vig, or juice. An easy way to think of it is the amount you must risk to win $100 on this wager. In our example, -110 means you must risk $110 if you want to win $100. -110 is pretty standard, but you will find different options. We will cover those in more depth when we talk about money lines. The price of the bet has no impact on which team is favored. Only the plus or minus on the point spread matters. This is handled differently when you bet strictly on the moneyline.
What is the Money Line? (How Moneyline Betting Works)
A moneyline bet is on a team to win the game outright (without a point spread) at an adjusted cost. Just like with point spread betting, the favorite will have negative odds, while the underdog will have positive odds. The difference here is in the price or payout depending on which team you take.
![How To Read The Moneyline Odds How To Read The Moneyline Odds](/uploads/1/3/8/4/138437632/678834837.png)
Teams | Moneyline |
---|---|
New York Jets | +240 |
New England Patriots | -280 |
A favorite (e.g. Patriots -280) on the money line works just like our bet price example above. In our new example, the Patriots are listed at -280, meaning you would need to risk $280 for a return of $100 on them. It follows that a winning bet on the Pats pays $100 (plus your initial investment of $280 back). This added risk is why betting the spread is usually more popular, especially on favorites.
Underdogs (e.g. Jets +240) work a bit differently. Instead showing how much you need to risk to win $100, this line tells you how much you stand to win on a $100 wager. That means if you bet $100 on the Jets, and they win, you would win $240. If the Jets lose, you are only out your original $100 wager.
Totals: What Over/Under Means in Sports Betting
The terms “total” and “over/under” are synonymous when placing wagers. This type of bet is on the sum of the points scored by both teams in a game. The bookie sets the number for the total, then you predict whether they will score more or less points than the set number.
Teams | Total | Price/Vig |
---|---|---|
New York Jets | Over 42.5 | -105 |
New England Patriots | Under 42.5 | -115 |
The over/under in this example has been set at 42.5. If you project the Jets and Patriots to combine to score more than 42.5 points, you would place a wager on the over. If you think they will score less than 42.5 points, you would bet the under. Let’s say the final score of this game is Patriots 27, Jets 24. Which bet would lose and which bet would win? The sum of all points scored is 27 + 24 = 51, so an over bet wins and an under bet loses. Are there casinos in indonesia.
You may also note the bet price is not -110 like we have seen before. It is common practice by sportsbooks to adjust prices on or around key numbers for spreads and totals, especially in football.
Understanding Sports Betting
How To Read A Moneyline
We hope this short beginner’s guide to understanding and interpreting odds will give you the confidence to get out there and start making winning bets. Our experts are here to help you on this journey, so do not hesitate to contact us with any questions you have about sports betting! We have only scratched the surface on reading betting lines, but this is an excellent place to start.
How To Read The Moneyline Odds For Today
One sport that has a few extra quirks is golf. I wrote up a guide to golf betting that explains these unique features so you can feel comfortable wagering on PGA events too.