What Do The Betting Odds Mean

Betting odds explained

Betting odds can appear daunting at first glance but they are actually quite straightforward to calculate. We’ve devised a beginners guide to explain betting odds.

What do + and - mean in sports betting? The plus (+) and minus (-) in sports betting can refer to either the point spread or betting odds. In terms of the spread, the ' - ' always refers to the favorite and the ' + ' always refers to the underdog. Betting odds explained. Odds are used by betting sites to determine what they think the probability is that something is going to happen relating to a specific event or outcome. Betting on odds is the most common form of betting on sports in the world. What Do Betting Odds Represent? At their most basic, betting odds tell you two things. Short and Long Odds – If something is described as being short odds it means the price is low. A long odds shot will provide you with a bigger win but is much less likely to win. 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. This means you’d win $2.50 for every $1 you wager. Another example of decimal odds in action would be betting on NHL game with odds of 9.0.

How do odds work?

When looking at the odds (price) of a horse, the two formats used are decimals and fractions. Betting exchanges operate in decimals, whereas fixed-odds betting firms generally operate in fractions.

When determining the returns of a fractional bet, the second number always suggests the stake and the first number denotes what the profit will be if the bet wins. Take 4/1 as an example. If you stake £1 on a horse, then you stand to win £4 if the selection wins the race, which excludes your initial stake. In contrast, the decimal format factors in the initial stake. Betting odds of 4/1 would equate to 5.0 in decimal terms, 5/1 would be 6.0, and so forth.

See the chart below for a breakdown of betting odds in both fractional and decimal format, showing forecasted returns to £5 level stakes for the key prices in a market.

Knowing your odds

wdt_IDFractionalDecimalWIN RETURNS FROM £5 (inc. stake)
11-21.5£7.50
24-71.57£7.86
38-131.62£8.08
44-61.67£8.33
58-111.73£8.64
64-51.80£9.00
75-61.83£9.16
810-111.91£9.55
91-12.00£10.00
1011-102.10£10.50

If you want to work out your winnings from a multiple bet such as an accumulator or lucky 15, you can use our betting calculator to find out instantly what you’ve won.

The legal sports betting world is changing. Quickly.

New states are opening their arms to the world of legal sports betting and are opening opportunities for you to take part in making legal sports bets on your favorite teams in casinos, race tracks and through online betting.

Part of our goal at SportsbookWire is to educate the new and/or casual sports bettor on the typical terms around legal sports betting and the various nuances that go into making a sports bet or wager.

In sports betting, a negative money line (represented as -200, -300, -400, etc.) represents the amount of money that you need to bet in order to win $100 if your bet is correct.

What Do The Betting Odds Mean

Here are some negative money line examples:

The New England Patriots are -500 against the Buffalo Bills. If you’re betting the Patriots, you would need to wager $500 in order to win $100 if your bet is correct with the Patriots winning.The New York Yankees are

What Is +100 In Betting

-200 to beat the New York Mets. If you are betting on the Yankees, you need to wager $200 to win $100 if your bet is correct with the Yankees winning.The Tampa Bay Lightning are -400 to beat the Detroit Red Wings. If you’re betting on the Lightning to win, you need to wager $400 to win $100 if your bet is correct with the Lightning winning.

It’s actually pretty easy and we’re sure you get the point here.

What Do Football Betting Odds Mean

Fractional odds of 1/2 and decimal odds of 1.5 are also equivalent in this scenario.

A negative money line is also considered as the favorite – or chalk pick – by the oddsmakers.

We’ll get into that more in other pieces, but the heavier the team, player, situation or bet in general is favored to succeed, the higher the negative money line.

For example…

Betting Odds Calculator

In the first round of the 2018-19 NBA Playoffs, the Golden State Warriors money line was

Betting Odds Georgia Senate

-20000 to beat the Los Angeles Clippers. That means you would need to have wagered $20,000 to win $100 if the Clippers won.Kind of ridiculous, right? That’s how heavy the Warriors were favored over the Clippers … the sports books don’t want you making that bet, because it was expected to be an easy Warriors win.

What Do Ufc Betting Odds Mean

If you’re looking for more educational information on sports betting and terms around such, be sure to check out our How to Bet on Sports 101 section for a variety of betting definitions, betting terms and sports betting strategies to help you build your bank account.

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