Athletics wagering probability described
How To Read Odds For Sports Betting
This juice is a way to discourage gamblers from wagering on a heavy favorite. If the Golden State Warriors are listed at –500 to win the NBA championship, a successful $500 wager would only net $100. Whenever you see odds displayed in numeric form i.e. 9.00, this is a decimal betting odd.
These odds are also popular in the UK, and they can be used on different types of bets placed at a sportsbook. Fractional odds are still used in London and on many betting sites around the web. To convert fractional odds to American odds, look to see if the left/top number is bigger than the right/lower number. If so, the odds represent an “underdog” line from which American odds can be adopted by adding 2 more zeros, resulting in odds like (+400). Fractional odds of 1/1 represent a simple straight-up risk and payoff of the same dollar amount.
For example, betting on a market priced at 2.5 means you would win two and a half times your stake if your bet were to win. In a betting line between two teams, the team expected to win, or the favorite, will have minus or negative odds. This means for every dollar wagered, you will earn less than a dollar if your bet wins.
The odds above equate to how much your return would be on a bet although they’re calculated differently. Decimal odds are a way of displaying odds in an easy to understand way. The problem with this method though, is that you need to be better than the bookmaker at calculating probability. This is a difficult task considering the huge teams of mathematicians that they employ.
Where decimal odds differ from fractional odds however, is that your stake is built in to the calculation. Prop bets are also able to be included in the combination. Some sports betting sites may have differing policies regarding what they allow to be included in parlay bets, so do a little research before deciding which book best suits your needs. Prop betting lines can include yes or no outcomes, over unders, or can list multiple potential outcomes to wager on.
For example, there might be a market on both NHL teams scoring more than 6 goals. In the end, exactly 6 goals were scored and the spread is tied. They are perhaps the easiest form to understand when learning how to read odds. If you put a winning bet of $100 on the Chiefs, you would win $180 ($80 for the win, plus your $100 stake back). If you put a winning bet of $100 on the 49ers, you’d win $205 ($105 for the win, plus your $100 stake).