Decimal odds provide purer calculations and are increasingly common on online platforms as bookmakers cater to ever growing international audiences. Decimal odds are also frequently used on betting exchanges. 1/1 is also known as evens and is expressed as 2.00 in decimal format, or -100 in American/moneyline odds. Here you could essentially double your money, so if you put down £10, you get £20 back (£10 profit) on a successful wager.
How To Calculate And Understand Betting Odds Another important point to consider is where the teams are playing and if you think they will have an advantage at home. Considering these points will help you make successful moneyline bets. Though this is probably considered the simplest type of bet, it can be confusing to understand how payouts work if you don’t know how to read odds. Again, with all kinds of betting, the minus-sign means a favorite, with the plus-sign designating an underdog. When you see a plus-sign with any number, that number is what you win for every $100 you bet.
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The total (also known as the Over/Under) is the total combined points scored by both teams in a particular game. The total in an NBA game isn’t based on how lopsided a matchup between two teams is as much as the spread or moneyline is. Instead, the oddsmakers look at several other factors such as offensive and defensive efficiencies of each team, how they match up against one another, and numerous other factors.
Decimal odds quote your potential return whereas fractional odds quote potential profits. In this case, the amount wagered gets multiplied by any of the figures above for your total returns. To count your profit, deduct your wager from the product. The over/under is the number of points oddsmakers expect will be the total score for the contest . You bet on whether the total points scored will be more or less than this number.
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The Chiefs took the minus sign and were, hence, the favorite. Since both numbers behind the plus and minus signs were close to 100, you could tell that both teams were a close match for each other. With odds like this, you could have expected a game full of fireworks.
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If you wager $100 on Green Bay to win the NFC and they capture the championship, then you would win $800 (8 ÷ 1 x 100). Your online betting account would then credit your account $900, which includes your win and stake ($100). Most sportsbooks offer different ways to read to Super Bowl Odds. In the fractional NFL Futures Odds format below, you simply take the odds and multiply by the amount wagered. The astute bettor will notice right away that the probability on each side of an MLB game does not add up to 100%. This is because there is a built-in vig or edge for the bookmaker that helps them make their money.
The latter is also called “ATS”, which is an acronym for “against the spread”. In the above example, the Steelers are listed with -9 points spread, i.e. they are 9 against the spread or the ATS on the Steelers is nine points. If the overtime period is scoreless, regular-season games move to a shootout format.
One of the most popular forms of handicap betting is handicap league betting, whereby you make a handicap bet on a team’s performance across the course of a season. This means that there are no handicaps applied to the game, and the actual winners will be viewed as the market winners by the bookmaker. If you then place a handicap bet on Leeds to win, but they only win the game 1-0, you will lose your bet, due to the handicap that had been applied. Effectively, in the eyes of the bookmaker, Leeds lost the game 2-1. With the spread and the total, you will occasionally see that the odds are distributed with “half points,” which are in place to prevent a “push,” or no one winning or losing the bets. As long as there is a winner or loser, the sportsbooks will make their money on the juice and be happy.
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In a betting line between two teams, the team expected to win is called the favorite. The team expected to lose the game is called the underdog. Juice, also known as the ‘vigorish’ or simply ‘vig’, is the commission that sportsbooks collect for taking your bet. In a perfect world the action on both sides of each game would be evenly split, and the books would use the monies collected from the losing bets to pay the winning ones. The norm is around 10-percent for most side and total bets, and it most cases you pay when you lose.
Since they’re underdogs, it requires a smaller wager to win a larger profit. Pittsburgh is +4.5, with Cincinnati at -4.5, which means Pittsburgh is a 4.5-point underdog and Cincinnati is favored by 4.5 points. For a bet on Pittsburgh to win at +4.5, they can either win the game outright or not lose by an amount that surpasses 4.5.