Wager Mage
Wager Mage
Photo: Pavel Danilyuk
A plus sign (positive odds) indicates your profit on a bet of $100, while a minus sign (negative odds) indicates the amount you would have to bet for a $100 profit. So, a +200 line means that, should the sports bettor win, they receive $200 profit for every $100 they wager (plus their original $100 back).
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Read More »Figuring out how to read sports betting lines can seem a nightmare for many bettors. Especially those who feel like they are a new bettor, who visit the sports betting world occasionally for entertainment purposes. Sports betting odds take several different forms and are calculated in a wide variety of ways. Sports odds can feel like learning a new language. However, after giving this article a read you’ll be speaking that language like a local. We’ll cover the three main ways to read betting odds – decimal odds, American odds, and fractional odds. These are all just different ways of showing how much money the bettor will get back from their initial outlay. Once you’ve got the handle on how to caluclate sports betting odds, you then need to get to grips with the vocabulary of sports betting types. The most basic form of sports betting odds is the moneyline. This is what most people imagine when they think of sports betting. You pick an outcome and the bookmaker offers you odds that roughly match the likelihood of the outcome. Less likely, longer odds. More likely, shorter odds. But there are plenty of other kinds of betting odds available to viewers of just about any sporting event. Points spread bets and over/under bets offer ways of handicapping an outcome. Futures odds provide betting options on longer-term prospects. And prop bet odds offer ways of wagering on games that go beyond just picking one team to win. About half of U.S. states enjoy legal access to online sports betting. Your chance of winning goes up significantly if you understand different types of odds format and how to calculate a potential payout. In this article, we’ll show new bettors what to expect and how to navigate their way through their sportsbooks’ betting options. It is worth noting that these categories are not all mutually exclusive. For example, you can find over/under bets that are a form of prop bet and you can make futures bets that make use of point spreads. However, understanding what each type of wager means will help you pick the right sports wagers for you and to hunt down more ways to win. Understanding what you are wagering on is a key part of gambling responsibly. So, read on to learn how to read odds, calculate how much profit you would win on a particular outcome, different formats of odds, and more.
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Read More »An over/under bet is a type of wager that you can place on any quantifiable outcome. You choose either the over or under side of the threshold for the bet. If you bet over, the outcome must be higher than the threshold to win, for an under, the outcome must be lower. We will use the example of the total number of goals scored in the Women’s World Cup game between Germany and England. Then you and the sportsbooks will set a number, (let’s suppose DraftKings Sportsbook offered over/under bets of 2.5, 3.5, and 4.5 goals for the Germany-England match all with different odds). You can then place your wager on whether the total outcome will be over that number. Using the 4.5 over/under line as an example, the over hits if the game ends on five or more goals. The under hits if the match ends on four or fewer goals. It doesn’t matter which team scores those goals, all that matters for this over/under bet is the total score. Let’s say a sportsbook is offering +600 on the over and -1,200 on the under. That means that if you bet $100 on the over, and the final score of the game was 3-2 then you would win (3+2 =5 and is greater than 4.5). At +600 odds you would make a $600 profit. On the other hand, if you took the under in this example, you would lose your $100 wager, and regret the $8 profit you would have made if the score had been 3-1. Futures odds are any bets that are placed on an event that takes more than a single game or match to settle. In NFL betting this might be a wager on which team will win the Super Bowl or in NBA betting, wagering on who will be the MVP this season. The Premier League is the top soccer league in the UK. You can place a wager with any betting site on a given team to win the league. This would be a futures bet. As an example of how these odds work, at the time of writing Manchester United is +2,500 (25/1 or 26.0) to win the whole league, meaning $2,500 profit for you if you win plus your $100 back. For comparison, betting on Man. Utd to win its next match a few weeks in advance would be a moneyline bet, even though the event is far in the future. This is because a futures bet must be decided over more than one match or game. “Prop bets”, short for proposition bets, is a catch-all term for any either/or wager that is not decided by the outcome of the game. A good example of this is whether there will be overtime. An upcoming WNBA exhibition game between the Dallas Wings and Atlanta Dream has betting odds of +1,200 on there being overtime. If you took that wager and the event went into overtime you’d earn $1,200 on a $100 wager. If you took other side of that wager and put $100 on there being no overtime in the game, you would get odds of -5,000, earning a tiny $0.20 profit on your wager if you won. Check out the Props.com guide to Super Bowl Squares and Prop Betting for more ways to wager on NFL football. You can find the entire library of our Betting 101 guides linked below:
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