Things You Need to Know About Sports Betting Odds
Sports betting odds are basically the same as those for moneyline betting. The bettor will choose which player he or she thinks has the advantage in the odds over their opponent. Football, basketball, baseball, hockey, and soccer are a few of the popular sports for odd betting. Odds are expressed in many different ways depending on what country you are betting on.
In the US, odds are expressed in plus (+) or minus (-) signs. The stronger contender gets the plus sign, and the underdog gets the minus sign. For example, Florida is favored to win by -136. This implies that if you gambled $100 and Florida won, you would have made a profit of $136. A $100 wager will return $113 if you choose Toronto as the underdog (+113).
Meanwhile, in Europe, odds are expressed in decimal points. The likelihood of the popular player winning increases with decreasing decimal value, whereas the likelihood of the underdog winning increases with increasing decimal value. For example, the odds for Manchester City to win are 1.54. Liverpool is the underdog, with a $5.10 price tag. If Manchester City wins, you would receive $15.40 in addition to your initial $10 stake. If Liverpool wins, a $10 stake would pay out $51 in addition to the initial bet.
The fractional odds method is another way to calculate odds. This type of betting is not common here in Canada, except in horse racing. An illustration of fractional odds would be a horse with a 12/1 chance of winning. The number on the left (12) indicates how much you won, while the number on the right (1,) indicates how much you wagered. You win $12 for every $1 you wager.