If you are new to the world of sports betting, one thing is for sure: a lot of things would confuse you and would make you ask: “what was that again?” There are simply just too many technicalities, too many jargons, and too many numbers that can easily overwhelm a beginner. One of these things is about what is called the betting odds.
As a newbie, one of the first things that you would need is a good sportsbook. However, there are so many options out there, and each one has its own “best offer” that they can entice you with. With this in mind, you would need a good review site, like bet enemy, that can show you a list of the top-rated, most well-reviewed, and most recommended bookies around. That way, you can be sure to find the bookie that best fits your needs and want easier and faster.
Now, when it comes to the odds, one of the first things that you should know is that all of these numbers, though they are written in different formats, almost always say on the same thing–only in a different way. Think of how someone can say “I love you,” but in multiple languages. Also, while it is true that odds pertain to the probability of an outcome happening–such as a player or a team winning, it is mostly influenced by personal adjustments by each bookie, as they often need to balance out the odds to ensure that they would earn from the bets, no matter what the outcome of the game would be. So, never take the odds as a reliable way to predict the outcome of a game–most of the time, it is more of a way to have bookies earn money rather than offer game predictions.
Here are the three different types of sports betting odds and how to read and interpret them most simply.
Moneyline odds are used mostly in the United States and in some parts of Canada, and thus sometimes called American odds. Moneyline odds categorize the opposing sides of a game into two: the favorites and the underdogs.
The favorites are denoted by a negative sign (-), while the underdogs can be recognized with a positive (+). Regardless of the side of the team, the odds show how much profit you can make for every $100 you will bet on them. For example, and underdog odds of +100 would mean that winning this bet would make you a profit of $100 for every $100 you wager.
This type of odds is mostly used in European countries and games, and thus also called European odds. Among other types of odds, this is considered by some as the easiest one to read and understand.
Decimal odds simply tell you how much you can win in profit in tour wager in multiples. For example, if the odds say 2.5, this means that you get 2.5 times the amount you wagered.
This type of odds is more commonly used in the United Kingdom, and thus also called the UK odds. In reading this type of odds, you have to take note of both the denominator and the numerator of the fraction.
Fractional odds can be explained in the simplest way like this: you will make a profit of X amount (the numerator for every X amount you bet (the denominator). Thus, if you bet on and won an odds of 5/1, you get to make a profit of $5 for every $1 you have wagered.