How Do Betting Odds Work: How To Calculate Sports Betting Odds

Nonetheless, this does not necessarily mean that these odds are originating in Vegas. It is still good to understand this as common sports gambling parlance. Stephanie is a published author and, having taken up Matched Betting fairly recently, she knows exactly how beginners feel when they first start Matched Betting.

American Sports (NFL, NBA, MLB, NHL)

Betting odds represent the amount somebody can expect to win in the event of their bet being successful. The higher the odds, the more a bettor will get if they win their bet, while lower https://festivali-rtsh.al/ odds will result in a much more modest return. The future of sports betting remains bright, with expanding legalization creating new opportunities while technological innovation improves user experiences. Master these fundamentals, and you’ll be prepared for whatever the evolving betting landscape brings.

• You will see a plus (+) or minus (-) before the number for underdogs and favorites, respectively.
• You’re fairly unlikely to need to do much converting most of the time, as most betting sites allow you to choose your preferred format of odds in your account settings.

Betting Odds Meaning

Still, they work the same as American odds and are just represented differently. Whereas in American odds, you might see +200, the fractional equivalent is 2/1. Finally, if you ever need to convert between odds formats and/or probabilities, there are plenty of tools to help – including our very own odds converter and probability calculator. Particularly when you first start Matched Betting, it’s extremely important to be able to compare odds quickly and easily. For this reason, we recommend sticking to odds in decimal format, which allows you to compare odds at a glance, with no need for hasty mental maths, or to memorise fractional equivalents.