American Odds are the default odds at American sportsbooks. These odds are based on winning $100 for a given bet. Betting a Favorite: The odds for favorites will have a minus (-) sign, and represent the money you need to risk to win $100. So if you're betting on the Packers at -140 against the Vikings, that means Green Bay is a slight favorite. The easiest information on the board is the win odds quoted on each horse. They don't tell you what the horse will pay, but the amount of profit you will get and the amount you have to bet to get it. For example, 6-5 means you will get $6 in profit for every $5 you wager, while 20-1 means you get $20 in profit for every $1 you wager. Odds are displayed in either American, Decimal, or Fractional formats, and serve two purposes: They signal the implied probability of the outcome they are attached to They indicate how much money you could win betting on that outcome.Be careful relying on the odds alone when evaluating the probability an event will occur. As the name suggests, American odds are most popular in the United States. Working differently for favorites and underdogs, they're also known as 'moneyline' odds. American odds for betting on the favorite work by showing how much money you would have to bet in order to win $100. May 13, 2020 Fixed odds: When a wager is placed, and a bookmaker accepts it, the line becomes fixed odds. If a bet is placed on Las Vegas at +3.5 odds and the line moves down to +3.0 prior to the game, players.
Understanding how to read odds is crucial to betting on sports. This guide will teach you how to read odds for moneyline, total, and spread bets. We will be looking at American, decimal, and fractional odds, which are three different ways of writing the same odds.
What are Odds?
Odds represent the likelihood of an outcome occurring. In sports betting, each team is assigned odds that represent the likelihood of them winning the game. When the odds for two teams are even, meaning 1 to 1, it means that each team is equally as likely to win the game. If Team A is assigned 2 to 1 odds, it means Team B is twice as likely to win. If Team A is assigned 10 to 1 odds, it means Team B is ten times as likely to win.
Odds are typically expressed with a positive or negative sign in front of them and are not written as 2 to 1 or 3 to 1.
How do Plus and Minus Odds Work?
In a betting line between two teams, the team expected to win, or favorite, will have minus or negative odds. This means for every dollar wagered, you will earn less than a dollar if your bet wins. The team expected to lose, or underdog, will have positive or plus odds. This means for every dollar you wager, you will gain more than a dollar if your bet wins.
The table below shows an NHL game where the Boston Bruins are favorited to beat the St. Louis Blues.
| Team | Odds | Amount Wagered | Total Payout |
|---|---|---|---|
| Boston Bruins | -150 | $1 | $1.67 ($1 bet + .67 cent won) |
| Boston Bruins | -150 | $10 | $16.67 ($10 bet + $6.67 won) |
| St. Louis Blues | +130 | $1 | $2.30 ($1 bet + $1.30 won) |
| St. Louis Blues | +130 | $10 | $23 ($10 bet + $13 won) |
American Odds
American odds are what you will see displayed on almost every sportsbook. Just like the metric system, dates, and miles per hour (mph), Americans do things differently when it comes to betting odds. Take a look at this standard slate of betting odds from for an MLB game.
| Team | Spread (Runline) | Moneyline | Total |
|---|---|---|---|
| Chicago White Sox | +1.5 (-115) | +140 | Over 9.0 (-120) |
| Los Angeles Angels | -1.5 (-105) | -120 | Under 9 (-105) |
The first thing you will notice when reading odds will be that:
- Odds have either a plus or minus in front of them
- Odds are in terms of 100
Betting Odds are written in terms of 100 as an industry standard. The easiest way to think of the plus and minus signs is as follows. If it is a plus, you will receive more than a $100 payout on a $100 bet. If it is a minus, you will have to bet more than $100 to win a $100 payout.
Thankfully, you can view your potential winnings on each bet before placing it at an online sportsbook. That said, it is beneficial to understand the betting odds.
Moneyline Bets
Bet Odds Meaning Dictionary
Definition of bet: A moneyline bet is a wager on which team will win the game outright. Both the favorite and the underdog are given odds to win the game. Read the chart below to get started on reading odds for the following game:Green Bay Packers (-150) vs. Detroit Lions (+130)
| Moneyline Odds | How to Read it | What it Means |
|---|---|---|
| Lions +130 | Lions plus 130 | By betting $100 you will win $130 if the Lions win |
| Packers -150 | Packers minus 150 | To win $100, you must wager $150 on the Packers to win |
Online casinos real money no deposit. Spread Bets
Definition of bet: A spread bet is a wager on which team will cover the spread or point spread.
How to read spread odds for the following game: Los Angeles Lakers +5 (-110) vs. Houston Rockets -5 (-110)
| Spread Odds | How to Read it | What it Means |
|---|---|---|
| Lakers + 5 (-110) | Lakers plus 5 points at minus 110 odds | The Lakers must win the game, or lose by less than 5 for you to win your bet |
| Rockets -5 (-110) | Rockets minus 5 points at minus 110 odds | The Rockets must win the game by more than 5 points for you to win your bet. A tie is a push, meaning you don't win or lose. |
Total (Over/Under) Bets
Definition of bet: A total bet focuses on how many points are scored, regardless of who wins the game. After a total point score has been set, bettors can wager on whether the actual score of the game will be over or under the set point score.
How to read over/under odds for the following game:
New York Yankees vs. Boston Red Sox Over 7 (-115) Under 7 (-110)
| Total Odds | How to Read it |
|---|---|
| Over 7 (-115) | In order to win $100, you must bet $115 on the overall combined run score to be higher than 7 |
| Under 7 (-110) | In order to win $100, you must wager $110 on the total combined run score to be less than 7 |
Keep in mind for both spreads and totals that if the game ends in a draw for the bet (Yankees 4, Red Sox 3), then you get your bet back but do not win or lose any additional money.
Fractional Odds
Fractional odds are used more commonly in parts of Europe, as well as in horseracing. To calculate fractional odds, you have to do some mental division or enter your desired amount and see what the sportsbook shows as your payout! Here are some odds for a fictitious horse race and how you go about reading them.
| Horse Name | Odds | How to Read it | Your Bet | You Win |
|---|---|---|---|---|
| Laser Focus | 15/1 | Fifteen to one | $10 | $150 |
| American Pride | 7/2 | Seven to two | $10 | $35 (10 x 3.5) |
| Green Eggs | 3/5 | Three to five | $10 | $6 (10 x .6) |
In this race, where we only have three horses, you can see Laser Focus is the underdog, while Green Eggs (no ham) is the favorite. A lot of sportsbooks offer a fractional view if you prefer it to the American odds.
Decimal Odds
Decimals odds are used more commonly in parts of Europe. When using decimal odds, the underdog has the higher of the two numbers, while the favorite has the lower of the two. To calculate decimal odds, you can use the following equation.
Return = Initial Wager x Decimal Value
Example: Let's say the Arizona Diamondbacks 2.00 are playing the Chicago Cubs 1.90
| Team | Your Bet | Your Return | Your Profit |
|---|---|---|---|
| Arizona 2.00 | $1 | $2 | $1 |
| Chicago 1.90 | $10 | $19.09 | $9.09 |
Mobile casino no deposit bonus. A lot of sportsbooks offer a decimal view if you prefer it to the American odds.
In conclusion, American odds are almost always displayed at any United States sportsbook, while fractional and decimal odds are almost always displayed at any sportsbook outside of the United States. Check out our Guides Page to see where sports betting stands in your state!
Why do Odds Matter in Sports Betting?
The odds are essential when selecting a sportsbook because they affect your money. If you choose a sportsbook with poor odds, you will end up wasting money every time you place a bet. Let's say you bet $10 on the Vikings moneyline at -200 at one sportsbook. If you win your bet, you pocket $5. If you went line-shopping and found the same bet for -175 at another sportsbook, you would pocket $6, $1 more. Understanding betting odds allows you to decipher between good and bad odds.
Look at the odds below offered on five games from the 2019 NFL Season. Odds from five different sportsbooks are shown. You'll notice each sportsbook offers different odds for each game. If you were betting on these games, you would be able to find the best odds for your desired bets. Using this strategy of line shopping will allow you to save money while betting on games.
How to Use Odds to Calculate Implied Probability
Odds can be used to calculate the implied probability of a team winning or losing a game. You can use a simple math equation to understand what the sportsbook thinks the probability of each team winning is. For positive odds, probability = 100/(odds + 100). For negative odds, probability = odds/(odds – 100).
| Team | Odds | Implied Odds of Winning | Implied Percentage |
|---|---|---|---|
| Miami Heat | +130 | 100/(130 + 100) = .4347 | 43.47% |
| Chicago Bulls | -110 | -110/(-110 - 100) = .5238 | 52.38% |
If you think the Chicago Bulls have a 70% chance of winning, then betting on them would be considered a smart bet.
The process is simple, but If you don't feel like doing the math, use ESPN's gamecast preview: preview or Action Network's odds calculator.
Odds FAQ
What does a negative point spread mean?
In a professional sports matchup a point spread is given to each team for sports betting purposes. When a negative point spread is given to a team, it means they are favorited to win the game. When a positive point spread is given to a team, it means they are not expected to win the game.For example, if the Kansas City Chiefs are minus three (-3) against the Los Angeles Rams (+3), then it is expected that the Kansas City Chiefs will win the game and that Los Angeles will lose.
What do odds of +200 mean?
Odds of +200 mean 2 to 1. For every $1 wagered on a team with +200 odds $2 will be paid out. Odds of +200 are greater are offered on teams that are NOT expected to win a game.
How do parlay odds work?
A parlay bet is a group of spread, moneyline, or total bets combined into one bet to increase the payout odds. In order for the parlay to win, each separate bet has to win. Parlay odds offer bigger payouts than normal odds because they are riskier since each individual bet has to win.
Here is an example of a standard parlay payout table based on true odds. What this means is exact payouts are shown for wagers at -110 odds, where a bet of $110 wins you $100.
| Parlay Size | Payouts |
|---|---|
| 2-Team | 2.645/1 |
| 3-Team | 5.958/1 |
| 4-Team | 12.283/1 |
| 5-Team | 24.359/1 |
| 6-Team | 2.645/1 |
| 7-Team | 91.424/1 |
| 8-Team | 175.446/1 |
| 9-Team | 335.852/1 |
| 10-Team | 642.082/1 |
| 11-Team | 1226.701/1 |
| 12-Team | 2342.793/1 |
Match Odds Bet Meaning
Methodology
For the BettingBuck.com annual best online sportsbooks review published in 2020, a total of 2,300 data points were collected over six months and used to score sportsbooks. Additionally, odds data was collected for each sportsbook on over 1,400 bets to give each sportsbook a comparative odds ranking.
Casino games on mobile. Sports betting sites were scored across seven core categories to computer an overall rating: total number of sports and bets offered, odds, live betting features, mobile apps, educational resources, ease of use, and current bonuses.
How to read over/under odds for the following game:
New York Yankees vs. Boston Red Sox Over 7 (-115) Under 7 (-110)
| Total Odds | How to Read it |
|---|---|
| Over 7 (-115) | In order to win $100, you must bet $115 on the overall combined run score to be higher than 7 |
| Under 7 (-110) | In order to win $100, you must wager $110 on the total combined run score to be less than 7 |
Keep in mind for both spreads and totals that if the game ends in a draw for the bet (Yankees 4, Red Sox 3), then you get your bet back but do not win or lose any additional money.
Fractional Odds
Fractional odds are used more commonly in parts of Europe, as well as in horseracing. To calculate fractional odds, you have to do some mental division or enter your desired amount and see what the sportsbook shows as your payout! Here are some odds for a fictitious horse race and how you go about reading them.
| Horse Name | Odds | How to Read it | Your Bet | You Win |
|---|---|---|---|---|
| Laser Focus | 15/1 | Fifteen to one | $10 | $150 |
| American Pride | 7/2 | Seven to two | $10 | $35 (10 x 3.5) |
| Green Eggs | 3/5 | Three to five | $10 | $6 (10 x .6) |
In this race, where we only have three horses, you can see Laser Focus is the underdog, while Green Eggs (no ham) is the favorite. A lot of sportsbooks offer a fractional view if you prefer it to the American odds.
Decimal Odds
Decimals odds are used more commonly in parts of Europe. When using decimal odds, the underdog has the higher of the two numbers, while the favorite has the lower of the two. To calculate decimal odds, you can use the following equation.
Return = Initial Wager x Decimal Value
Example: Let's say the Arizona Diamondbacks 2.00 are playing the Chicago Cubs 1.90
| Team | Your Bet | Your Return | Your Profit |
|---|---|---|---|
| Arizona 2.00 | $1 | $2 | $1 |
| Chicago 1.90 | $10 | $19.09 | $9.09 |
Mobile casino no deposit bonus. A lot of sportsbooks offer a decimal view if you prefer it to the American odds.
In conclusion, American odds are almost always displayed at any United States sportsbook, while fractional and decimal odds are almost always displayed at any sportsbook outside of the United States. Check out our Guides Page to see where sports betting stands in your state!
Why do Odds Matter in Sports Betting?
The odds are essential when selecting a sportsbook because they affect your money. If you choose a sportsbook with poor odds, you will end up wasting money every time you place a bet. Let's say you bet $10 on the Vikings moneyline at -200 at one sportsbook. If you win your bet, you pocket $5. If you went line-shopping and found the same bet for -175 at another sportsbook, you would pocket $6, $1 more. Understanding betting odds allows you to decipher between good and bad odds.
Look at the odds below offered on five games from the 2019 NFL Season. Odds from five different sportsbooks are shown. You'll notice each sportsbook offers different odds for each game. If you were betting on these games, you would be able to find the best odds for your desired bets. Using this strategy of line shopping will allow you to save money while betting on games.
How to Use Odds to Calculate Implied Probability
Odds can be used to calculate the implied probability of a team winning or losing a game. You can use a simple math equation to understand what the sportsbook thinks the probability of each team winning is. For positive odds, probability = 100/(odds + 100). For negative odds, probability = odds/(odds – 100).
| Team | Odds | Implied Odds of Winning | Implied Percentage |
|---|---|---|---|
| Miami Heat | +130 | 100/(130 + 100) = .4347 | 43.47% |
| Chicago Bulls | -110 | -110/(-110 - 100) = .5238 | 52.38% |
If you think the Chicago Bulls have a 70% chance of winning, then betting on them would be considered a smart bet.
The process is simple, but If you don't feel like doing the math, use ESPN's gamecast preview: preview or Action Network's odds calculator.
Odds FAQ
What does a negative point spread mean?
In a professional sports matchup a point spread is given to each team for sports betting purposes. When a negative point spread is given to a team, it means they are favorited to win the game. When a positive point spread is given to a team, it means they are not expected to win the game.For example, if the Kansas City Chiefs are minus three (-3) against the Los Angeles Rams (+3), then it is expected that the Kansas City Chiefs will win the game and that Los Angeles will lose.
What do odds of +200 mean?
Odds of +200 mean 2 to 1. For every $1 wagered on a team with +200 odds $2 will be paid out. Odds of +200 are greater are offered on teams that are NOT expected to win a game.
How do parlay odds work?
A parlay bet is a group of spread, moneyline, or total bets combined into one bet to increase the payout odds. In order for the parlay to win, each separate bet has to win. Parlay odds offer bigger payouts than normal odds because they are riskier since each individual bet has to win.
Here is an example of a standard parlay payout table based on true odds. What this means is exact payouts are shown for wagers at -110 odds, where a bet of $110 wins you $100.
| Parlay Size | Payouts |
|---|---|
| 2-Team | 2.645/1 |
| 3-Team | 5.958/1 |
| 4-Team | 12.283/1 |
| 5-Team | 24.359/1 |
| 6-Team | 2.645/1 |
| 7-Team | 91.424/1 |
| 8-Team | 175.446/1 |
| 9-Team | 335.852/1 |
| 10-Team | 642.082/1 |
| 11-Team | 1226.701/1 |
| 12-Team | 2342.793/1 |
Match Odds Bet Meaning
Methodology
For the BettingBuck.com annual best online sportsbooks review published in 2020, a total of 2,300 data points were collected over six months and used to score sportsbooks. Additionally, odds data was collected for each sportsbook on over 1,400 bets to give each sportsbook a comparative odds ranking.
Casino games on mobile. Sports betting sites were scored across seven core categories to computer an overall rating: total number of sports and bets offered, odds, live betting features, mobile apps, educational resources, ease of use, and current bonuses.
Learn more about how we test.
How does the odds converter work?
Our odds converter allows you to enter any format such as US odds (+100), or decimals / Australian odds ($2.00) or fractional / UK odds (1:1) and we convert all these formats to the other betting formats for you.
Use the Odds Converter here
Football Bet Odds
- Enter Aus, UK or US Odds to be converted (e.g 2.00, 1/1, +100):
Best Odds Meaning
What is an odds converter?
Odds can be displayed in many different ways, including as fractions, decimals and if you're in the USA, with a positive or negative sign. Therefore, an odds converter allows you to quickly convert US Odds (such as +100) to UK odds (such as 1:1) to Australian Odds (such as $2.00). It's important to realise that although they all look different they are all just indicating the same price of an event with numbers.
An odds converter is especially beneficial if you have moved to a new country with a new odds format, if you are travelling or if you are betting with an international sportsbook.
Odds Bet Definition
Decimal odds show the amount of money the bettor will receive back multiplied by the original stake. For example, if the price is $7.50, and the bet is successful, the bettor will receive 7.5 times their original stake.
Fractional odds are stating the same thing, in a different format. In fractional odds, whatever the second number is, can be seen as the stake, and whatever the first number is, is what the bettor will receive back should the bet be successful. For example, if the price is 15/2, the bettor will receive 15 'stakes' for every 2 they wager.
American odds are slightly different and are based of stakes off a $100 bet. When the odds are with a + sign, they represent the amount of money you would receive back from a bet of $100. When the odds are displayed with a - sign, that represents the amount if money the bettor would have to wager to receive a $100 profit. For example, if the odds are +750, the bettor would receive $750 dollars if their bet was successful. If the odds were -750, the bettor would have to wager $750 in order to profit $100 (and therefore receive back $850 in total).
Bet Against The Odds Meaning
Now you can tell that $7.50, 13/2 and +650 all mean the same thing and the need for an odds converter!
