How Sports Betting Odds Work
Your main measurement for what is, and isn’t, a value bet is the received odds you will see. Different betting markets will use different ways to display the same odds however. Since online sports betting sites can be hosted in any one of these markets you may encounter odds that appear a bit strange to you.
Understanding the various odds available is essential to managing your betting, knowing when you are getting value and planning your expected payouts. This guide will give you all the info you need to fully grasp the figures advertised on sports betting sites.
Betting Odds Systems
There are three main ways that betting odds can be displayed online. The first is what is known as Decimal or European odds. This method is becoming more and more popular as it is the simplest of the three systems. The chances that it will ever be picked up in the American market however, is next to nothing.
The second popular way to display betting odds is the Fractional or UK system. These odds will look familiar to most people from their school math days.
Finally we have the American system. It is probably the most confusing system when you first approach it, but if you want to access to the lucrative American market then you will need to get used to these odds.
Decimal odds are the simplest online sports betting figures to understand. Basically the figure given is your total payout. Let’s say you see odds of 1.75. The odds are made of a 0.75 for the result and the additional 1 is to signify your stake placed.
So if you wager on odds of 1.75, you simply multiply your staked wager and the odds, and get your payout. It really can’t get much simpler than that when it comes to understanding betting odds. No complex equations or additions, just plain and simple clarity.
Fractional odds will display your winnings as a fraction. As an example if you get 4/1 odds on your team winning, and you wager 25, you will win 100, plus your original 25 stake.
If the odds are on a favourite, say 1/4 for your team to win, you will need to wager 100 to get a 25 return. To easily work out your payouts, you take the top number of the fraction, divide it by the bottom number, than multiply that result with the stake you wish to wager.
American odds are usually known online as Moneyline odds. These odds can be pretty confusing at first. The main confusion comes in with favourites.
The favourites odds will always be a negative figure, say -150. These odds show how much you will need to wager in order to win a return of 100. So a -180 will mean if you wager 180 you will win 100 for a total payout of 280.
The underdogs will be displayed as a positive figure, say +125. This will mean that if you wager 100 you will win 125 for a total payout of 225. So the underdog odds that are positive indicate how much you will win with a wager of 100.
Finding The Best Odds
Since every sports betting site determines their own odds, you will need to look at a few sites to find the best value.
We have already helped players narrow down their search by compiling the best betting sites available where you can find the best odds. By visiting these recommended bookmakers you are saving yourself time, money and a whole lot of effort, plus you’ll always get great odds!