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п»їHow to Read Odds.
Understanding how to read odds is crucial to betting on sports. This guide will teach you how to read odds for moneyline, total, and spread bets. We will be looking at American, decimal, and fractional odds, which are three different ways of writing the same odds.
What are Odds?
Odds represent the likelihood of an outcome occurring. In sports betting, each team is assigned odds that represent the likelihood of them winning the game. When the odds for two teams are even, meaning 1 to 1, it means that each team is equally as likely to win the game. If Team A is assigned 2 to 1 odds, it means Team B is twice as likely to win. If Team A is assigned 10 to 1 odds, it means Team B is ten times as likely to win.
Odds are typically expressed with a positive or negative sign in front of them and are not written as 2 to 1 or 3 to 1.
How do Plus and Minus Odds Work?
In a betting line between two teams, the team expected to win, or favorite, will have minus or negative odds. This means for every dollar wagered, you will earn less than a dollar if your bet wins. The team expected to lose, or underdog, will have positive or plus odds. This means for every dollar you wager, you will gain more than a dollar if your bet wins.
The table below shows an NHL game where the Boston Bruins are favorited to beat the St. Louis Blues.
American Odds.
American odds are what you will see displayed on almost every sportsbook. Just like the metric system, dates, and miles per hour (mph), Americans do things differently when it comes to betting odds. Take a look at this standard slate of betting odds from for an MLB game.
The first thing you will notice when reading odds will be that:
Odds have either a plus or minus in front of them Odds are in terms of 100.
Betting Odds are written in terms of 100 as an industry standard. The easiest way to think of the plus and minus signs is as follows. If it is a plus, you will receive more than a $100 payout on a $100 bet. If it is a minus, you will have to bet more than $100 to win a $100 payout.
Thankfully, you can view your potential winnings on each bet before placing it at an online sportsbook. That said, it is beneficial to understand the betting odds.
Moneyline Bets.
Definition of bet: A moneyline bet is a wager on which team will win the game outright. Both the favorite and the underdog are given odds to win the game.
Read the chart below to get started on reading odds for the following game:
Spread Bets.
Definition of bet: A spread bet is a wager on which team will cover the spread or point spread.
Total (Over/Under) Bets.
Definition of bet: A total bet focuses on how many points are scored, regardless of who wins the game. After a total point score has been set, bettors can wager on whether the actual score of the game will be over or under the set point score.
How to read over/under odds for the following game:
New York Yankees vs. Boston Red Sox Over 7 (-115) Under 7 (-110)
Total Odds How to Read it Over 7 (-115) In order to win $100, you must bet $115 on the overall combined run score to be higher than 7 Under 7 (-110) In order to win $100, you must wager $110 on the total combined run score to be less than 7.
Keep in mind for both spreads and totals that if the game ends in a draw for the bet (Yankees 4, Red Sox 3), then you get your bet back but do not win or lose any additional money.
Fractional Odds.
Fractional odds are used more commonly in parts of Europe, as well as in horseracing. To calculate fractional odds, you have to do some mental division or enter your desired amount and see what the sportsbook shows as your payout! Here are some odds for a fictitious horse race and how you go about reading them.
Decimal Odds.
Decimals odds are used more commonly in parts of Europe. When using decimal odds, the underdog has the higher of the two numbers, while the favorite has the lower of the two. To calculate decimal odds, you can use the following equation.
Return = Initial Wager x Decimal Value.
Example: Let’s say the Arizona Diamondbacks 2.00 are playing the Chicago Cubs 1.90.
Team Your Bet Your Return Your Profit Arizona 2.00 $1 $2 $1 Chicago 1.90 $10 $19.09 $9.09.
A lot of sportsbooks offer a decimal view if you prefer it to the American odds.
In conclusion, American odds are almost always displayed at any United States sportsbook, while fractional and decimal odds are almost always displayed at any sportsbook outside of the United States. Check out our Guides Page to see where sports betting stands in your state!
Why do Odds Matter in Sports Betting?
The odds are essential when selecting a sportsbook because they affect your money. If you choose a sportsbook with poor odds, you will end up wasting money every time you place a bet. Let’s say you bet $10 on the Vikings moneyline at -200 at one sportsbook. If you win your bet, you pocket $5. If you went line-shopping and found the same bet for -175 at another sportsbook, you would pocket $6, $1 more. Understanding betting odds allows you to decipher between good and bad odds.
Look at the odds below offered on five games from the 2019 NFL Season. Odds from five different sportsbooks are shown. You'll notice each sportsbook offers different odds for each game. If you were betting on these games, you would be able to find the best odds for your desired bets. Using this strategy of line shopping will allow you to save money while betting on games.
How to Use Odds to Calculate Implied Probability.
If you think the Chicago Bulls have a 70% chance of winning, then betting on them would be considered a smart bet.
The process is simple, but If you don’t feel like doing the math, use ESPN’s gamecast preview: preview or Action Network’s odds calculator.
Odds FAQ.
What does a negative point spread mean?
How do parlay odds work?
A parlay bet is a group of spread, moneyline, or total bets combined into one bet to increase the payout odds. In order for the parlay to win, each separate bet has to win. Parlay odds offer bigger payouts than normal odds because they are riskier since each individual bet has to win.
Here is an example of a standard parlay payout table based on true odds. What this means is exact payouts are shown for wagers at -110 odds, where a bet of $110 wins you $100.
Parlay Size Payouts 2-Team 2.645/1 3-Team 5.958/1 4-Team 12.283/1 5-Team 24.359/1 6-Team 2.645/1 7-Team 91.424/1 8-Team 175.446/1 9-Team 335.852/1 10-Team 642.082/1 11-Team 1226.701/1 12-Team 2342.793/1.
Methodology.
Sports betting sites were scored across seven core categories to computer an overall rating: total number of sports and bets offered, odds, live betting features, mobile apps, educational resources, ease of use, and current bonuses.


How to Read Sports Betting Odds рџ�ў: American Odds Explained.
Reading sports betting odds can seem complicated at first glance.
-110.
11/10.
1.91.
What do they all mean?
All of the above numbers represent different ways to display betting odds, however they all represent the same thing.
All betting odds represent the implied probability to win a bet. The way that number is displayed is where things can differ.
Types of Betting Odds.
There are three main ways to display betting odds:
American Decimal Fractional.
Each of the odds formats represent a chance of winning, just displayed in a different way.
Most sports betting sites will give you the option in how you display your sports odds, so it is important to understand how to read them.
All sports betting types will have odds attached to them: point spread, money line, total, futures, props, and more.
How to read American odds.
Take for example how the following moneyline bet odds would be displayed for the following sporting event:
Chicago Bears -196.
Since this is a moneyline bet, these odds represent the implied probability each team has to win the game.
American odds can be broken down into two categories: favorites and underdogs .
How do Plus and Minus odds work?
Favorites Odds.
When a bet is a favorite, it means the implied probability (win percentage) is greater than 50%. Favorites will always have a minus (-) sign and will always be “negative odds”. Ex: -150.
Favorite odds can be read as “to win $100”.
Meaning if the odds of a bet were -150, you would need to bet $150 to win $100. Note that you do not need bet in $100 increments.
This same ratio would apply to different bet sizes: Bet $15 to win $10, bet $1.50 to win $1, etc.
If you were to read betting odds of -150 out loud, you would say “minus one fifty”.
Underdog Odds.
The other side of American odds are underdogs. Underdogs have an implied probability of less than 50%.
Underdog odds are interpreted different than favorites. Underdog bets are betting $100 “to win” whatever the odds are.
How to read decimal odds.
Decimal odds are the easiest odds type to interpret. They are used by most people outside of America, most notably Europe. The Decimal format are also the easiest odds type to convert to an implied win percentage.
Decimal odds tell you what your return will be given your bet amount (or “stake”).
For example, if you bet $10 on the New York Knicks to win at odds of 2.25, your return (or “total payout”) would be $22.50 if they won.
Return does not take into account your original bet amount. Therefore your profit, or “to win” amount, would be $12.50 ($22.50 return – $10 wager).
Note that the return aspect is the key difference between Decimal and American odds. The Decimal format will tell you your return, while the American format will tell you your “to win” amount.
How to read fractional odds.
Fractional odds are simply decimal odds represented as a fraction. For example, 3/1 odds are the decimal equivalent of 4.
The biggest difference between fractional and decimal is that fractional tells you the potential profit while decimal tells you the return .
Going back to the previous example, a $10 bet at 3/1 odds would represent $30 in profit .
A $10 bet at the equivalent odds of 4 in decimal format would return $40. Subtracting your $10 bet from the return would give you your profit of $30.
Fractional odds can be read as the first number being the potential profit while the second number is the amount you will need to risk for that profit.
For example, fractional odds of 23/20 would represent a bettor needing to risk $20 in order to profit $23.
Fractional odds are most common in horse racing and futures markets.
Related: Find more sports betting guides here.


A Simple Explanation: How to Read Sports Betting Odds.
Understanding the world of online betting can be a daunting task for the sports betting novice. You’re met with a wall of numbers, dots and dashes before you even get started.
The key to enjoyable betting is in knowing how to read the odds. We’ll break it all down into manageable chunks, covering the different bets and odds, and how to read them.
What Are Odds?
Before we get started, let’s take a look at what odds actually are. Odds are a set of numbers which indicate the likelihood of an event taking place. In gambling terms, the odds aren’t a true representation of probability, but show the ratio between the amount bet and the payout based on the probability calculated by the bookmakers.
Now that we have that out of the way, let’s get down to business.
The Different Types of Odds.
The first thing you’ll need to be aware of is the three most common types of odds in sports wagering:
Moneyline Point spreads Over/under betting.
What do these terms mean, exactly?
The Moneyline.
The moneyline wager is perhaps the simplest bet to understand. It’s a straightforward bet on who you think is going to win the game, no matter the final points or score margins.
What Do the Numbers Mean?
Essentially, these odds show how much your profit will be based on the amount you wager. Moneyline wagers have odds attached to both the favorite and the underdog.
Note: the odds are given in the American format. We’ll explain that in more detail later.
Point Spreads.
Usually in any game, one team is better than the other, giving us the terms favorite and underdogs in the first place.
If you were to just bet on the favorite each time, you could take your money and go, but this doesn’t make for a very exciting betting experience, nor would it be very profitable for the online bookmakers. The point spread makes things more interesting for bettors, as well as making a profit for the bookies.
Essentially, the point spread is a handicap given by the bookmakers to bring teams to an equal footing, in that it generates interest in both teams from bettors. With the point spread odds, you’ll bet on the score difference between the two teams.
WHAT DO These NUMBERS MEAN?
Betting on Team B would win you your bet if the team wins the game, OR if it loses by less than six points.
If you would like to learn more, be sure to read our article explaining point spread betting.
Over/ Under.
If you are having trouble deciding who is likely to win a game, then an over/under bet might be the way to go. Sometimes referred to as ‘totals’ betting, over/under odds are a bet on the total combined score in a game.
It doesn’t matter who wins or loses. Instead, the bet depends on whether the combined amount is over or under a predetermined number set by the bookmaker.
If you see a bet written as 45.5 o/u , for example, this means that the bookmakers have calculated the possibility of the combined scores of the two teams as being around 45.5. The odds will often be with half points, in order to prevent what is called a ‘push’ or tie.
All you have to do is decide whether the combined scores will total over that mark, or under it. How much you are set to win from each of these bets will be decided by the bookmaker’s odds, and how much money you want to wager (more on this later).
How to Read Odds.
Now that you know the basic betting forms, you will notice that the odds given aren’t all written in the same way. Again, there are three main formats:
This is where your head may start to hurt, but let’s try to keep it simple.
American Odds.
American odds are also used with the point spread bets, for example:
So while the point spread doesn’t change the odds given for each result, it allows the bookmakers to protect their margin or ‘juice’.
In another article, we explain how you can find out more about how bookmakers operate and how they calculate their odds.
Decimal Odds.
Decimal odds are sometimes referred to as “European odds” and are used throughout Europe, Australia and Canada. If you’re interested in betting on international sports, it’s a good idea to know how they work.
Luckily, they’re very straightforward and easy to calculate. All you have to do is multiply your wager by the odds to find out your potential winnings.
For example, if you bet $100 on a team winning, with odds at 1.82, then your potential total amount received is $182. Simple.
Fractional Odds.
Fractional odds are one of the oldest forms of odds in sports gambling and are more popular in the UK market. Basically fractional odds show you how much you are set to win relative to how much you put in. Again, we’ll keep this simple with an easy example. Say you make a bet of $5 on Team A to win with the odds of 2/1.
This translates as:
So your bet of $5 at 2/1 odds gives you a return of $15 ($5 wagered x 2 plus the original stake of $5).
Need a Calculator Yet?
It’s a good idea to have a basic understanding of how to recognize and read each of the odds formulas, but fortunately, there are also a number of online odds converters and calculators that will do the hard work for you quickly and easily.
This comes in very handy especially when you have to recalculate when the odds change.
Why Do Odds Change?
Between the time when the betting lines open and the game starts, you’re likely to see some change in the betting odds, especially in the last few minutes. Why? There are a few reasons.
Protecting Profit.
Firstly, the bookmakers may change the odds to protect their profit. Since they’ve calculated the odds carefully to give both teams equal interest, making sure they are set to gain a profit either way, if one team is getting a clear majority of the bets, then they will change the odds to make the less favored team’s odds more favorable.
Insider Info.
Betting websites may change their odds as information comes to light. For example, when a team line-up is published before a game and the star players aren’t making an appearance, or perhaps news of injuries or training issues come out. These will all have an effect on the betting odds offered.
Sharp Bettors.
Another reason for movement on the betting line will be the sharp bettors, those professional players who may hold off to the last minute and bet against the public opinion. They are usually big-money players and their wager can be enough to move the lines.
Knowing how to use line movement to your advantage takes time and experience, but you can get a head start with our handy guide to understanding line movement.
Ready to Play.
Now that you have the basic building blocks required to understand sports betting odds, you’re ready to go. All that’s left for you to do is find the right sportsbook for you.
This can be another learning curve, but don’t worry, we’re here to help you. Just follow the link to get some great tips on how to choose the best online bookmaker.


How To Read Odds.
Understanding betting odds is key to successful betting. If you do not understand betting odds and the probabilities that they imply, you will struggle to succeed in betting on sports long term.
You don’t need to be a math genius to succeed in betting on sports, but if you do not understand what betting odds reflect, you are setting yourself up for failure.
How to read American odds.
There are three popular odds formats:
Fractional Odds Decimal Odds American Odds.
For the purposes of this article, we will focus on American odds. Know your potential profits when you make a wager with this betting odds calculator.
American odds are presented as either positive or negative odds. The following is an example of American odds for an NBA game between the Los Angeles Lakers and Chicago Bulls.
Put Your Odds Knowledge to the Test.
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How to calculate implied probability.
As previously stated, understanding and calculating the implied probability in betting odds is key to long-term betting success at, for instance, Pointsbet Sportsbook.
So how do we calculate the implied probability in American odds?
Calculating the implied probability in positive American odds is quite simple:
So the implied probability of the Lakers winning the game is 0.4348 (or 43.48%). In this instance, the bookmakers believe the Lakers are a 43.48% chance of winning the game.
Calculating the implied probability in negative American odds is fairly straightforward:
So in our example, the Bulls are at odds of -140 to win the game. What is the implied probability of these odds?
So the implied probability of the Bulls winning the game is 0.5833, or 58.33%. In this case, the bookmakers see the Bulls as a 58.33% chance of winning the game.
Value bets.
As stated earlier, the key to successful betting is to bet only when there is value. In our example, we should only bet on either the Bulls or the Lakers if we determine that they are a better chance to win the game than what the odds represent.
If we believe the Lakers are a better chance to win than 43.48%, we should bet on them. If we believe the Bulls are a better chance to win than 58.33%, then likewise, we should bet on them.
Understanding betting odds is crucial to long-term betting success. Possessing an intimate grasp of betting odds and their implied probabilities is fundamental to profitable betting.
See real odds at online sportsbooks.
At many sportsbooks, you’re free to see the odds no matter what state you happen to be in. However, you can only place real money bets at online sportsbooks odds if you’re located in states that have legal sports betting.
However, if you want to bet on horses, you’re more in luck there! Many states allow for online horse racing betting and you can see odds at most of the big horse racing tracks around the world.
Betting Against The Odds.
In Summary: Betting Odds Explained.
Betting odds represent the probability of an outcome occurring and the return (profit) you will receive if your bet is a winner. It could be the likelihood of all of your final four betting picks being correct.
The probability represented by betting odds is often referred to as the ‘implied probability’. Understanding the implied probability is crucial. Why? Because you should only bet when you believe the probability of an outcome occurring is higher than the implied probability. But if you would like to learn more about betting odds and alternative odds formats, try this odds converter.
Let’s consider an example. Let’s say the New York Giants are facing the Washington Redskins in a regular season NFL game. The Giants are at odds of -110 to cover the betting line of -3.5 points. The probability implied in the odds -110 is 52.4%. You’ve done your research and have determined the Giants are a 60% chance to cover the -3.5 betting line. As 60% is greater than 52.4%, you have found what is commonly referred to as a ‘value bet’.
However, if following your research you determined that the Giants are only a 45% chance to cover the -3.5 points betting line, the implied probability of the odds is greater than your determined probability. You have not found a value bet and should not place a bet on the Giants.




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