Fractional Odds Explained in Sports Betting

In general, football betting odds for the 1X2 market range between 2 and 6%, while for exotic markets it can get pinup as high as 20%. Negative odds in moneyline betting represent the amount you need to wager to potentially win $100. For example, -110 odds mean you must bet $110 to have a chance at winning $100. If your bet is successful, you’ll receive your original stake plus $100 in winnings. At the beginning of a season or before a significant event, futures odds are initially established.

For instance, a -150 bet would require a $150 wager to potentially win $100. Understanding moneyline odds is crucial for bettors in North American markets. Sports betting odds serve as the numerical representation of a team or player’s chances of winning or losing a game, match or event. They play a pivotal role in guiding your betting decisions, as they not only reflect the potential payout but also hint at the implied probability of an outcome.

For instance, if the odds on one outcome are getting shorter, it usually means a lot of people are betting on it. This can either mean that the bookie is realizing the outcome is somewhat more likely than they first estimated… Or that they just want to pay out less on a popular choice. Realistically, though, the odds have to be shifted, because if everyone wagers one way and wins that bet, the company takes a huge financial loss.

• Odds are posted by the online bookmaker by using internal oddsmakers and algorithms.
• Outside of gambling, probability is more commonly referred to in percentage terms.
• The variations can take some getting used to, but we’ll give you a breakdown on each format.

However, if you are at a sporting event in Europe or Australia then you need to be aware of their rules. You can have a positive or negative odd, and it’s important to understand the distinction between the two so that you can gamble responsibly. Public sentiment is often a close approximation of each horse’s relative strength, but do not be fooled into reading horse racing odds as any one runner’s likelihood of winning. The key to successful horse racing betting is learning how to spot the gaps between public sentiment and reality.

NFL betting odds are essentially the same as the NBA, but I’ll run through some quick examples using the Eagles and Steelers. The more bets you add to a parlay, the longer the odds get, even if you’re picking heavy favorites. You’ll usually find that the sportsbook has a limit on the number of bets you can parlay, too. With a decade of experience in the sports betting industry, Claudia can spot a value bet from a mile off. She prides herself on not just being a sports writer, but a fastidious researcher too. From the odds listed above, the perceived likeliest outcome is for Spain to win, followed by England winning.

Fractional odds example

So, if you see odds of 2.50 and want to wager $10, this would be $25 as 10 multiplied by 2.5 is $25, or $15 in profit. The “-” odds indicate the favorite or the more likely outcome, whereas “+” suggests the underdog or the less likely outcome. The Steelers now need to win by three or more and have the same odds as opposed to needing to win by four or more to avoid a push.

Sports information services are often used by professional and semi-professional sports bettors to help achieve this goal. At their most basic level, betting odds are a mathematical representation of how likely something is to happen. They are a measure of probability, intended to depict what the most likely outcome is, and how other outcomes compare in terms of likelihood. In the next couple of sections, we will delve into the most popular betting markets as each type of sports betting has its own nuances.

UFC betting odds

If you see one side climb to -120, this could suggest a potential alteration to the point spread coming as one side is being wagered on more than the other. As such, the lines vary and aren’t like the NFL, NBA, or college football. But the odds will vary substantially, since it could be extremely easy to cover a -1.5 spread or the run-line odds may even be plus-money, for instance in a Phillies vs Dodgers game. Penn State is playing the University of Iowa, and the total is 35.5. So, either side you bet on requires a $110 wager to win $100 in profit. College football betting odds are almost the same as those in the NBA and NFL, but I’ll use Penn State to provide some examples.

Stay updated with the latest news surrounding U.S. sports betting. Welcome to our detailed guide to the best online sportsbooks in the United States. As the season progresses or new information becomes available, the odds can change drastically. Seeing just a decimal number may seem confusing if you’re still figuring out how do odds work. However, this format is really the most straightforward when it comes to how to read odds. For example, if the Patriots are given 1/2 odds, the bookie predicts they will win the game two times out of three.

With these betting odds, you are wagering on whether the favored team in a matchup will not only win, but win by more than the number of points that the provider is estimating. But if you’re new to sports betting, all the information may seem a bit overwhelming. You may be wondering how to read odds, or even how do odds work? Check out our guide and have all of your questions on betting odds explained below.

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Fractional odds are most commonly used in the United Kingdom and Ireland, and that’s why they are also called UK odds. Our editorial team is run by individuals with many years of experience in digital publishing, editorial, and content production. The difference between the two is merely the format of the listing. They are used more frequently used in British futbol than in American sports, and Americans who have taken a liking to European soccer will see these odds more frequently. Fractional odds are easy to employ once they are seen on a fairly regular basis.

As such, bigger betting odds mean that something is less likely to happen. Decimal odds show the total payout per unit staked, including your original bet. Remember, successful futures betting requires a blend of research, analysis, patience and prudent decision-making. You may see these odds on global events like the PGA tour, tennis tournaments, or the Olympics. By learning how to read odds, you can read between the lines and figure out how likely a particular sportsbook has determined an outcome to be.

When presented with fractional odds, it can sometimes be very easy to determine the probability of an occurrence, but at other times it might not be so simple. Fractional odds (e.g., 5/1, 2/1, 10/11) are common in the UK and especially for horse racing. Fractional odds that show how likely an event is to happen are typically displayed as A/B.

There are online converters, but it’s helpful to understand the process. These bets can be found for any sport, but are most common in low-scoring games like baseball, hockey, or soccer. The decimal shows how much profit is paid for every dollar on a correct bet. Favorites have a lower number, while underdogs have a higher number. Going back to the previous example, a $10 bet at 3/1 odds would represent $30 in profit.