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Understanding Sports Betting Odds

The absolute biggest barrier to entry for any new sports bettor is looking at the betting board. It looks like advanced algebra. It is filled with numbers and symbols. If you do not know exactly how to read these numbers, you are gambling blindly. You will have absolutely no idea who the favorite is, you won’t know the cost of the bet, and you will have absolutely zero idea how much money you are actually going to win. While it seems like a foreign language, it is actually very simple to learn. Here is how to decode the numbers, explaining the math behind the payouts.

1. American Odds: The Plus and Minus System

In the USA, you will use American odds. The math revolves around 100. The +/- tells the whole story.

• The Minus (-) Symbol: The Favorite: Whenever you see a massive minus sign next to a team (e.g., -150), they are the superior team. The number itself tells you exactly how much money you must physically risk in order to win $100 in pure profit. If the odds are -150, you must bet $150 to win $100. (Your total payout would be your $150 stake + your $100 profit = $250).
• The Underdog (+): The plus means they are the underdog, they are not expected to win. It tells you the reward for risking $100. If the odds are +200, a $100 bet will win you a massive $200 in pure profit. (Your total payout would be your $100 stake + your $200 profit = $300).

The Metric System of Betting: The Global Standard

If you use an international site, they do not use American odds. Instead, the entire rest of the world uses Decimal Odds. Decimals are incredibly simple, because you just multiply.

The British Format: How the Bookies Started

If you are betting in the United Kingdom, or if you are looking at the massive odds for the Kentucky Derby or a global Golf tournament, you will use the old system: Fractions. While they look like complex middle-school math, the math is basic.

• The Formula: Profit / Stake: The top number is the win. The right side is the risk.
• The Example: 5/1 (Five to One): If you see 5/1, it means that for every $1 you risk (the right number), you will win $5 in pure profit (the left number). You make massive profit.
• The Short Odds: If the fraction is backwards, this is a massive favorite. It means you only win $1 in profit for every $2 you risk. A $100 bet would only yield $50 in pure profit.

In conclusion, whether you use American or Decimal, or a number in the UK, or a ratio, the math is identical. Most online casinos will do the translation for you to the easiest system. The key to success is knowing the price. Once you know the math, and know your payout, you are officially a sports bettor.