Parlay odds offer bigger payouts than normal odds because they are riskier, since each individual bet has to win. The magic number in sports betting is -110 because it defines the amount required by a sportsbook to earn $100 on either side of most wagers. A bettor must lay $110 to win $100 when wagering on point spreads, which are set by oddsmakers with hopes of getting equal action on both sides.
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But the signs in these odds can make or break your betting success. You’ll also find plus and minus signs in moneyline odds, also called American odds. Bookmakers in the U.S. often use this type of odds to present a team’s chances of winning the game. Contrary to what rookie sports bettors think, betting isn’t just about listening to your gut and choosing a team to win.
Covering The Spread? The Line? Sports Betting Terms Explained!
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How To Read American Odds
Most people consider decimals easier to grasp and in turn, many online sportsbooks and locations have begun displaying their odds in decimals. Several of the larger betting sites provide bettors with both options. The next main difference between decimal and fractional odds is the fact fractional odds only calculate winnings and do not show the returned stake. The concept of implied probability is worth keeping in mind when you try to assess the value of odds from a bookmaker. The odds are set based on the implied probability of the outcome, such as a horse winning a race, or a football team winning a league.
But it is helpful especially when listening to Americans speaking about gambling odds in sports broadcasts or podcasts. To convert fractional odds into their respective probabilities, we make the following calculation. Decimal odds are a simple reflection of the return you will receive for each single unit placed. In other words, odds of 1.65 means that for every 1.00 you place on a particular outcome, you will receive a profit of 0.65 should that outcome prevail. The Laws Related to Gambling or sports betting may be different in your country as compared to the UK.
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You can figure out how to read odds with point spreads by taking a look at the number shown next to the odds. For instance, if you see Dallas Cowboys +7, you are betting on whether or not the Cowboys will win their game by more than 7 points. Fractional odds, as you might expect, display with one number over another number. UK and Irish bookmakers favor this format, making it a common sight on soccer betting odds.
So the team you will be betting on has to win the game outright. And the actual score of the game here is not important as long as it is a win. Now that you’re an expert in reading sports odds, get out there and start winning some money on your favorite sports betting sites! Sharp bettors are informed bettors, and not all sports are created equal. Consider checking out our comprehensive guide covering how to bet on sports before you lay down your first wager. So, if we add a -7.5 points to the favorite, the odds for that market will increase drastically.
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