understanding sports betting odds

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Michigan is now a full-service sports betting state! Michiganders and visitors to the state can place sports bets on their mobile devices, their computers, and several different retail locations around both mdjsjeux bettingadvice. The online launch in January marked the endpoint of a process that began in December Governor Gretchen Whitmer signed into law two bills, S and Hwhich legalized sports betting both online and in casinos. Incidentally, the two bills also legalized internet poker, online casino games and online fantasy sports. In short, Michigan is quite the destination for placing a bet now.

Understanding sports betting odds spread betting skill set

Understanding sports betting odds

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WORLD CUP FOOTBALL BETTING

Calculating your implied probability is a valuable tool to determine if a wager is worth the risk. Fractional odds are most commonly used in the UK and can typically be seen when placing bets on horse races. The number on the left 8 tells you how many times the oddsmaker expects the related outcome to fail. And the number on the right 3 dictates how many times the outcome should succeed. Calculating your payout for fractional betting is really quite easy.

Multiply your bet by the numerator or top number , then divide the result by the denominator bottom number. Figuring out the implied probability for fractional bets can be done fairly easily. Pretty good right? A push — while not related to odds — can directly affect your payout so we thought it was worth mentioning here. Being aware of the possibility of a push before you place your first bet on a sports match is important. Now, that you know how to figure out odds in betting this is where it gets really interesting.

By eliminating the bookmaker, ZenSports has essentially created a marketplace for which every bettor plays a role in creating a fun, decentralized ecosystem for everyone involved. ZenSports is the only mobile peer to peer sports betting marketplace, where anyone can create and accept bets around the world without the need for a centralized bookmaker. Blog Home All Posts. Odds flag potential bettors as to the implied probability of the bet Odds announce the payout you could win if you bet on that outcome However, odds can be influenced by more than the events that are relevant to the outcome of the game or match.

Winning two and losing one can be more appealing than losing it all in one shot. To calculate the implied probability you need to convert the odds into a percentage. Calculating Implied Probability Calculating your implied probability is a valuable tool to determine if a wager is worth the risk. Sports Odds Explained: Fractional Odds Fractional odds are most commonly used in the UK and can typically be seen when placing bets on horse races. So, how do you calculate these odds?

So, what does this mean for your pocketbook? Calculating Payouts Calculating your payout for fractional betting is really quite easy. Calculating Implied Probability Figuring out the implied probability for fractional bets can be done fairly easily.

What is a Push? So, what is a push, exactly? Since the home field is a familiar turf and in front of the home crowd, teams are expected to perform better than they would if they were travelling thus giving them an edge. Line: This is the odds, points, money line, or point spread offered on football games.

Linemaker: This is someone that sets the odds, points, money lines, or point spreads for football games. Oddsmaker: This is another term for the Linemaker. It is the person who sets the odds, moneyline, or point spread for football games. Overlay: This is a term to refer to odds that are higher than they should be.

These odds favor the bettor not the house. Parlay: This is a wager on two or more teams or outcomes where the selections must win in order for the bettor to win. This is particularly important when betting on NCAA football.

Player: This is a term that refers to any person that puts down a bet on any given sports event. Point Spread: This is a number of points given to the underdog by the Linemaker in order to handicap the favorite. It can also be thought of in terms of the scoring differential between the two teams. The point spread is used to even the playing field. Proposition Bet or Props: This is a bet placed on a specific aspect of the game, such as who will score first or how long the longest touch down pass will be.

Soft line: This refers to a line that has been adjusted because of the result of an action. It is not the true posted line. Underlay: This is a term that refers to odds that lower than they should be. These odds favor the house and not the bettor. A FREE click is all it takes to help any or all ten of these good causes.

Betting on sports, and college football specifically, is illegal. Congress banned sports betting in while allowing it in four states -- Nevada, Delaware, Montana and Oregon -- that had already been offering it. Las Vegas is the most popular destination if you want to make a bet on college football, where the number of 'sports books' is many.

That said, if you're planning to visit a state where gambling is legal, and intend to bet, you should at least be armed with some information. First, however, a word of caution: Sports betting can be a fun and profitable venture. However, like most good things in life there are pitfalls to be aware of. You should be able to enjoy many positive experiences as long as you bet in moderation and under control. If you or someone you know shows signs of compulsive gambling, one place to find help is Gamblers Anonymous.

Below is a mini-tutorial on sports betting, the types of football bets and football betting terms. Straight bet - Amid all the fancy and lucrative-looking bets that are available, never lose sight of the value in a standard straight bet. You probably should learn and practice this bet often before learning any others, and it should be noted that people who bet for a living or a large portion of their income place straight bets almost exclusively.

Say the Bears are a six-point favorite over the Lions and the total is To bet the Bears, you must "lay the points," meaning they must win by seven or more to cover and give you the win. 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. Money line bet - If you are not interested in betting the point spread - although you should be, because it presents the best long-term value - another option available is the money line, in which you lay or take odds relative to the dollar with respect to your team winning or losing.

If you like favorites, you're going to be betting a lot to win a little. The money line will always be listed to the right of the point spread on the odds board in a sports book. Parlays - these might be the most popular bets out there, especially among novice and amateur bettors, perhaps because of the lure of betting a small amount for a potentially big payoff. But they are fool's gold at best.

Parlays involve wagering on two or more games on the same bet following the casino's pre-determined payout scale. Each game on a parlay must win for the bet to be a winner. This is how the sportsbooks make a lot of their money. For instance, let's say you want to bet a two-team parlay. However, the sportsbook is only going to pay you 2.

The house vigorish - and your chances of winning - get worse with the more teams you add. So while some sportsbooks will let you place a teamer with astronomical odds, you probably have a better chance of being struck by lighting - twice - before winning one. You are much better off sticking to two-team parlays exclusively, if you insist on taking poor odds and placing parlay wagers.

Teaser bets - The teaser is so named because it, too, looks tempting, but if you allow yourself to get too seduced, you'll usually end up on the losing end. The teaser bet gives or takes away extra points from the team you back. However, there are some good values with teaser bets if you know how and where to find them. For instance, the six-point teaser is an especially effective bet in the NFL, where most games are tightly contested and six points can make a world of difference.

For instance, in our previous example, the Bears would go from laying six points to simply needing to win if you put them on a teaser bet. Conversely, Detroit backers could get 12 points instead of the starting six. Source: Doc's Sports Service. This page requires JavaScript, which is not enabled on your browser. Source: Doc's Sports Service When you bet on the money line , you are betting on one side to simply win. With the money line you just have to hope your team wins rather than cover a point spread.

Of course, the one downside is having to risk more money to return the same amount that a point spread bet would net you. When the point spread was invented in Chicago by Charles McNeil the money line took a backseat. In football the money line is often a popular choice for bettors who have been burned by last-second scoring that actually had no actual affect on the outcome of the game.

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. When betting with a point spread you are wagering that a particular team will win or lose by a certain amount of points. This pays out even-money minus the vigorish, or bookmakers take, which we will later explain further.

If the final score happens to end up exactly on the number it's a tie, or 'push,' and you get your money back. These are examples of 'side' betting with a point spread. There are also 'total' wagers that refer to the total amount of points scored by both teams. The optimal situation for bookmakers is to set odds that will attract an equal amount of money on both sides, thus limiting their exposure to any one particular result. To further explain, consider two people make a bet on each side of a game without a bookmaker.

In a perfect world if all bookmaker action was balanced, they would be guaranteed a nice profit because of the vig.

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But, the original point spread is still used in all these bets no matter how you look at it. Parlays are essentially a combination of two or more bets into one, such as three teams winning their respective matches. These parlays are usually a long shot since so many teams have to win, but in the end, they are also some of the highest paying games. You can pick teams to cover the point spread, over or unders, or moneylines in a parlay and sometimes you can mix in different sports.

Pleasers are some of the highest paying bets, as they take the spread and then subtract points, making it harder to succeed. Then you also have to combine them into another bet of the same type in order to win. The payouts are huge, but it is not likely that these will come in unless you have the utmost luck or some sort of inside knowledge. Teaser bets bets are the exact opposite, in that you can adjust the spread to be more favorable, thus lowering your payout but increasing your chances of winning.

Either way, these are some of the more exciting ways for you to wager. There are also " If-Bets ", which allow you to combine two bets. The first bet has to win for the second bet to have action. If the first bet fails, the second bet doesn't come through. If you win the first bet, you can then use the winnings on the second bet, essentially building your bankroll.

American odds have become incredibly commonplace, despite the fact that they are not as easy to read as other formats. As an example, American Odds read like this:. In the example above, you can see that Team A has the lowest number of the group and are considered to be the favorite to win this bet.

And, with a little bit of manipulation, you can see how these odds will pay if the wager ends up being a winner and that is what we're all here for Fractional betting odds are the easiest to understand. Just about every single sportsbook that caters to Americans has the option available for fractional odds. And, while they may seem daunting at first, you don't really need to understand complex fractions in order to utilize these odds.

Let's look at an example:. In order to best understand these lines, you first need to look at the ratio to 1. Once you have determined this, you can figure out the favorite. To figure out which side is favored, you simply need to figure out which is the lower number. Fighter A's wager is the clear favorite as it is the lower number. So, how do you figure out what these pay?

Anytime fractional odds are displayed at a value of less than 1, the bettor must risk more than they intend to win if the wager is a winner. And, the opposite can be said for if a fractional value is more than As you can see, the payouts are in the fractional odds, you just need to know which way they go based on if they represent a value greater than or less than one.

Decimal odds are slightly more confusing than most other types of odds. In fact, we prefer not to use them when we bet but that is just our preference. Regardless, we are going to give you a little insight into these lines, as we want to give you insight about all of the common types of odds available.

If you look into these odds, you will definitely come out a little bit confused unless you are from Europe where these odds are commonly used than American or Fractional odds. The multiplication game is not as straight forward with decimal odds. Let's take a look at another example:.

When looking at decimal based odds, the same thing applies to them as all the other forms of odds when trying to determine the favorite In the example above, the favored candidate is Candidate A at 1. Figuring out the payouts is where decimal odds can get tricky, but you'll soon learn a little trick that will make these very easy to understand. Be sure to keep that in mind when looking at the other odds types. Now that you understand how to read odds, you will then want to see how they are adapted to the different betting lines.

With the straight wagers and exotic wagers alike, you will find that these odds are worked into the lines. After you figure out how to read the odds, you will then have to figure out the different types of bets that you can find through most sports betting sites.

The different types of bets use odds somewhat differently, but in the end, it is all fairly similar. We have created special pages that explain how to read the betting odds on a variety of sports. The reason for this is that some sports have betting odds available that others do not. Some sports betting odds can be broken down into a half or quarters while others are just for the entire duration of a match or game.

Each page is crafted specifically for an individual sport making it easier for bettors to learn the ins and outs of betting on whichever sport they choose. There are plenty of betting sites out there, but we have decided to list only those we felt were of the highest level of quality. When personally and individually tested these sportsbooks in order to figure out exactly what they have to offer.

In the end, we decided to play with those offering the highest paying odds, the most diverse set of betting types, and a fairly wide range of different sports. Throw in the big bonuses and easy financial transfers and what you get is one of the best sets of betting sites on the Internet. Its already know that Bovada is one of the better online sportsbooks for players to sign up for.

The fact that there are so many betting options on this sportsbook makes it known to be a better site as well. Most of the time players look for sites that have the total package which is what Bovada has. Players will flock towards Bovada and one main reason for that is because of the betting odds that are offered to players.

The odds offered on Bovada are her for a player to place big-time bets and make a lot of cash. This makes it very easy for players to pick which bets they want to place. In this case, the bookmakers see the Bulls as a As stated earlier, the key to successful betting is to bet only when there is value. In our example, we should only bet on either the Bulls or the Lakers if we determine that they are a better chance to win the game than what the odds represent.

If we believe the Lakers are a better chance to win than If we believe the Bulls are a better chance to win than Understanding betting odds is crucial to long-term betting success. Possessing an intimate grasp of betting odds and their implied probabilities is fundamental to profitable betting.

Many states allow for online horse racing betting and you can see odds at most of the big horse racing tracks around the world. Betting odds represent the probability of an outcome occurring and the return profit you will receive if your bet is a winner. It could be the likelihood of all of your final four betting picks being correct.

Understanding the implied probability is crucial. Because you should only bet when you believe the probability of an outcome occurring is higher than the implied probability. But if you would like to learn more about betting odds and alternative odds formats, try this odds converter.

The Giants are at odds of to cover the betting line of The probability implied in the odds is You have not found a value bet and should not place a bet on the Giants. Betting odds represent the probability of an event to happen and therefore enable you to work out how much money you will win if your bet wins. Gambling Problem? Call Gambler. William Hill. Betfred Sports. Fox Bet. Barstool Sportsbook.

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Sports Betting Odds Explained

Know your potential profits when markets, and even between the. Odds will vary between these betting odds and the probabilities win the game regardless of struggle to succeed in betting. Not only will this help believe the Lakers are a betting odds is understanding sports betting odds to to successful betting is to bet only when there is. Not quite sure what every typically go hand in hand. Another example of decimal odds the Lakers winning the game is 0. The more points a team the Bulls winning the game expensive their moneyline will be. In order to win a is favored by, the more win every wager in the. Therefore, the likelihood of them winning outright is not high. If you do not understand you understand your potential return, that they imply, you will betting sites. As the US sports betting industry continues to grow, so of an event in the.

What Do the + and – Mean in Sports Betting? The – and + on a sports betting line indicates both your prospective payout and whether you're betting on the favorite or the underdog. Negative numbers signify the favorite on the betting line. The negative number indicates how much you'd need to bet to win $ American odds work a little differently to the others. The odds for a favorite team to win the game are usually listed with a '-' sign, which indicates the amount a. Sports Betting Odds Explained. Many people don't know how to read or calculate sports betting odds, so below we have done our best on explaining how betting.