How To Read Odds

Betting odds are most commonly presented as a fraction or a decimal in the UK. Moneyline odds, which are common in the US, are also becoming more popular. Therefore, a winning £10 bet would result in £1 in winnings, amounting to a return of £11 (your £1 winnings plus your £10 stake). The key points of betting odds and what you should look out for. Decimal and fraction odds might seem confusing, especially if you’re not familiar withonline sports bettingand all thebetting terms and types. This handy guide is ideal for anyone new to betting, or if you’re struggling to read the odds.

If the model thinks the odds are significantly better than what the bet is offering, and you trust the model, this can be a useful tool in whether to decide to place a bet or not. This is the most common odds format, which used to be common in Australia, Canada and Europe in the past. However, lately more and more bookmakers have adopted this format, as a result of which it has become the norm. For instance, let’s say you want to place a bet on a sports event and the odds are +200 . It means that you would get £200 back with a bet of £100.

An example of a potential before and after teaser bet is below, where 2 points of variance are applied to each of the three portions of the teaser. Teasers operate identically to parlay wagers in that the bet types and the amount can vary, so long as the total combined bets equal two or more. You can figure out how to read odds with point spreads by taking a look at the number shown next to the odds.

On the other hand, underdog plus odds will help your bottom line. The question to ask is “how often will we need to win, when betting at -110 odds, to break even? ” The answer is “enough so that you turn 110 into 210 often enough to overcome the juice” but it is expressed in percentages. So we take our $110 risked, divided by the ultimate $210 payout if our ticket cashes, and come up with .5238 or 52.38%. This means you must win at least 52.38% of your bets at -110 to break even. The higher the absolute value of the number, the better the chance the bet will win.

A bet requiring the prediction of one of three possible outcomes of a sports event. For sports where a tie is possible at the end of regulation, that is the ‘draw’ selection. For sports where there is no possibility of a real life tie, a ‘line’ is set where any result either way within a particular win margin is deemed a ‘tie’. Potential Win is the amount that would be returned to you on a placed wager, prior to settlement or results being known. The potential win is determined based on the odds of the selections, the bet type and the wagered amount. ‘Grand Salami’ is where it is possible to bet on the total number of listed occurrences, such as total run or total goals,happening in a collection of events on a specified day.

The probability of an event is different, but related, and can be calculated from the odds, and vice versa. The probability of rolling a 5 or 6 is the fraction of the number of events over total events or 2/(2+4), which is 1/3, 0.33 or 33%. Once again, there is an easy formula to make sure that you can calculate the implied probability, and once again, using the same selection, the probability will pan out.