How To Read Odds In Sports Betting
With the initial stake of $100 being returned, it would make for a total payout of $800. Fractional odds are the ratio of the amount won to the stake; decimal odds represent the amount one wins for every $1 wagered. Since the two most popular types of odds are fractional and decimal, we will go into detail and explain how to correctly read them. For you to win a point spread wager, you must select the team has your selected outcome. In the above example, the (-2) indicates that the Patriots are the favorites and that they must win by more than 2 points for you to win on your bet. If the Seahawks lose by less then 2 points, and you’ve selected the Seahawks, you still win that bet.
As a reminder, a push is when the final score is exactly the same as the one it set the line at, which means you neither win nor lose, you just get your money back. The most traditional form of betting — betting the spread — involves predicting where the score will lie. A favorite will have a – sign in front of their spread. That means in order to win the bet, the team needs to win by at least that margin. If a team has a + sign in front of its spread, that means it is the underdog.
Well, it looks like you have some of the basics down but you could still do with brushing up on how odds work before you start placing any big bets. This stuff can be a bit daunting if you haven’t picked up a math textbook in a while, but you’ll get there. Sports betting is legal in North Carolina, but it’s only available at two casinos, which weren’t open as of early 2021.
This is why making a bet on a long shot early on can bring a potentially substantial payoff. At the beginning of the season, it isn’t entirely clear how well the team will do over the season, and so the odds are longer, offering higher rewards. If, over the course of the season, though, a team is showing that they’ve got a good chance of winning, the odds for them improve, the risk goes down, and the payoff gets smaller. Choosing exactly when to make this sort of bet is important. A minus sign at the beginning of odds means the team is favored to win. The number indicates how much someone would need to wager in order to win $100.
Whole numbers, and easy-to-understand odds, are no longer accurate models of the likely outcome. The point spread is another form of betting odds that’s very similar to a moneyline bet. The difference is that in addition to predicting who will win the game, the point spread includes a margin of victory. In certain cases—such as in college basketball and college football—there is a huge discrepancy in talent between the two teams playing. In those cases, betting the moneyline is too obvious, because it is clear that one team will beat the other.
The payout is less backing teams with negative odds, but the probability of that team winning is greater. Odds can be shown in any of the three formats but they mean the same thing. They’re often posted based on the local preference – for example, expect American odds in America, decimal odds in Europe and fractional for futures and horse racing.