Sports Betting Strategy

Sports Betting: A Guide For The Odds Work

It is very difficult to build up your bankroll betting on sports without understanding how to read the odds listed on the actual sportsbooks. It’s important for newer bettors to gain an understanding of how betting odds work and then how to use them when it comes to placing wagers on sporting events. One you have selected an online sportsbook to work with you can take the time to read this column in order to gain a better understanding of how to read the lines. Here is a look at how sports betting odds work.

The Different Types Of Sports Betting Odds

The odds listed on different sites can look different based on where the sportsbook exists with American odds, Fractional Odds and Decimal Odds available. Here is a look at the different types of sports betting odds:

American Odds: The American odds are represented by a plus/minus symbol and a number, which could look something like this: +110. These odds are popular with sportsbooks that are based in North America and will be placed next to money line numbers or next to the spread when it comes to the NFL and NBA. For example, the Dallas Cowboys might be listed at -220 or -3.5 -110. In this situation, the money line odds are listed as well as the spread with the odds next to it.

Fractional Odds: The Fractional odds are more common in the United Kingdom and are available in fraction form, which could look something like this: 9/5. The Fractional odds will represent the same value as the American odds only in fractional form.

Decimal Odds: The Decimal odds are likely the most difficult to read but it is easy to learn how they work. If the sportsbook has a team listed at 2.00 odds then you just multiply the amount of money you want to risk by the 2.00 odds and you will arrive at a specific amount. For example, if you risk $100 on a wager at 2.00 odds then you will be primed to win $200. The Decimal odds aren’t as poplar with sites from the UK and from the United States but they are usually posted on Canadian and Asian sites.

Outlook

The sportsbook that you choose to work with will determine what the sports betting odds look like with different sites using different odds depending on where they are based. Some sportsbook will allow you to use multiple types of odds within their site based on your preference. If there is ever a case where you are struggling to figure you what a specific set of odds represent, you can always go to an odds converter web site that will allow you to convert the odds. All you have to do is type odds converter in to google and allow it to find you a site where you can type the odds in any of the forms listed above and have them changed to the type of odds that you are looking to find. The different types of odds are easy to learn but if you still don’t understand the way the three different types work then take the time to go online and take the guesswork out of getting them converted.

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