Just what does the ‘numbers’ suggest in sports bets

How To Read Sports Betting Odds

Let’s say you make a two-team parlay where both teams are listed at -110 odds. Sportsbooks will typically list the odds of this parlay at +265. The implied probability of +265 odds is 27.39% (100/(265 +100). Therefore, the fair price of a two-team parlay (both teams at -110 odds) is +300 (100/(300 + 100). This is why sportsbooks will encourage you to make parlay bets. Also, if the sportsbook offers promotions around parlays, you can sometimes get a better value on the odds.

The typical number is -110, which means you have to bet $110 to win $100. However, there are states where odds are worse in order to get the state more money such as -115 or -120. This is also called the vig, which is the amount the sportsbook charges per bet. It’s especially the case in soccer since matches can end in draws, whereas a winner is declared in almost every other sport because of overtime rules. However, in most cases, the favorite will have a ” – ” in front of its moneyline odds while the underdog will always have a ” + .” Reading odds may be the first part to figure out before you begin sports betting, as they specify the implied probability of an outcome and how much money can be won.

Unlike other types of wagers, it does not matter what the margin of victory is or how many points the teams score. All that matters is which team or competitors emerge as victorious. Also, depending on how the betting is affected by jurisdiction, taxes may be involved for the bookmaker and/or the winning player. This may be taken into account when offering the odds and/or may reduce the amount won by a player. For instance, a round robin made up of three teams will consist of three two-team parlay bets.

If you were to read betting odds of -150 out loud, you would say “minus one fifty”. All of the above numbers represent different ways to display betting odds, however they all represent the same thing. Iowa legalized sports betting in 2019, becoming the 11th state to pass a bill. Iowa legalized sports betting in May 2019, becoming the 11th state to do so. As of 2020, there are 21 states (and Washington D.C.) that have legalized sports betting.

Figuring it out involves converting odds into a percentage, which indicates the likelihood that event will happen vs. the alternative. Therefore, if you wager $40 on Ottawa, you will win $44.00, and your total payout would be $84.00. If the number is positive, you’re looking at the underdog, and the number refers to the amount of money you’ll win if you bet $100. The negative number indicates how much you’d need to bet to win $100.

Decimal odds are very simple and are the easiest for calculating payout. For example, say the 49ers score two early touchdowns in Week 1 while the Lions fail to move the ball. If the Lions take the ensuing kickoff to the house, you might see 49ers -11.5 after that.