Betting Odds Explained: How to Read Betting Odds in the US
Where N is the numerator, D is the denominator and S is how much you intend to stake in pounds. This promotional offer is not available in DC, Mississippi, New York, Nevada, Ontario, or Puerto Rico. In this case, the best book to place your wager with is FanDuel since you will have the highest return if it hits.
Other Sports
For example, in a football game, the original point spread may be -7 in favor of the favorite. A bettor can choose to tease the spread by 6 points, which would make the new spread -1 in favor of the favorite. The bettor’s odds of winning the wager would increase, but the potential payout would be reduced. On the other hand, if the odds for a team to win a championship are -200, this means that a bettor would need to wager $200 to win $100 if that team goes on to win the championship. Negative odds indicate that the team is considered a favorite, while positive odds indicate that the team is considered an underdog.
How to Read Odds (Fractional) – NFL Betting Example
Overall, horse racing odds are unique in that they are expressed in a fractional format, they are constantly changing, and there are many different types of bets available. Decimal odds also indicate the probability of an event occurring. The higher the decimal odds, the less likely the event is to occur, and the higher the potential payout. For example, odds of 2.50 indicate that there is a 40% chance of the event occurring, while odds of 1.50 indicate a 66.67% chance. Decimal odds are a way of expressing the odds or probability of an event in sports betting, commonly used in Europe, Australia, and Canada.
The only trouble with fractional odds is that it can be quite difficult to compare them, especially if you’re not yet very comfortable with reading them. This means that you might not always be certain of whether one set of odds is better than another. A point spread (common in football and basketball) is essentially a handicap to level the playing field between two teams of different strengths. With 10 years of experience in content writing, Alyx has produced countess guides, reviews and articles covering a wide range of topics in the iGaming industry. She loves anything to do with online casinos, as well as UK and international sports betting.
Now that we have the different aspects of betting odds explained, the only thing left to do is to start placing your wagers. Having roobet these fundamental principles of betting odds explained is the first step to making successful wagers. 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.
- While reading odds is pretty straightforward, there are 3 different ways odds are typically displayed, most often based on where you live.
- For example, in a soccer match, the bookmaker might set a spread of 2-3 goals, meaning that the bettor can place a bet on either team winning by a margin of 2-3 goals.
- Those wanting to work out betting odds in the UK should understand that odds are the numbers that the bookmakers use to reveal how likely or unlikely a sports event is to happen.
- Meanwhile, Notre Dame was the underdog, and anyone betting on the Irish would win $310 on a $100 bet (or $3.10 for every $1 for smaller bets).
- Favourites have smaller fractions where numerator is smaller than the denominator (e.g., 1/2, 2/5).
Here’s everything you need to know about the different types of betting odds and what all the numbers mean
While these odds are more or less the same across the sports, I want to use some examples below so you’ll have no questions regarding how betting odds are explained and displayed. If you have ever bet on sports, or even listened to talk about sports betting, you must be familiar with betting odds. It can be useful to work out the implied probability from the odds you’re seeing for a particular selection – i.e. the approximate likelihood of that selection winning.
