This is the format that terrifies people the most. We can promise you that fractions aren’t as scary as they seem if they’re explained properly. Here is the easiest way to calculate your profits and payouts with fractional odds. Solve the fraction and then multiply that number by your bet size to get your potential profit. If you can’t remember how to solve fractions, it’s ok. Don’t look at it as a “fraction” but more as a division problem. 13/20 is the same as 13 divided by 20. 29/20 is the same as 29 divided by 20.
The -110 on either side is like paying a tax or commission to the sportsbook. Bettors would pay 10 percent (aka juice) to the sportsbook, which is essentially a fee for brokering the wager. So, the -110 indicates that a bettor must risk $110 to win $100. Some sportsbooks will even reduce the juice for you which means you can earn the same $100 payout but risk less money to do it.
The National Basketball Association (NBA) has always been a staple of the sports betting community. As a part of one of the big four sports, bettors have been working to develop systems to best the basketball betting industry for decades. Some have succeeded and enjoyed the spoils, while some have fallen. Our guess is that most of those who have fallen did so due to a lack of effort, a lack of information, or just no knack for the sport.
Placing a point spread bet means gambling on how much a team will win or lose by. In our above example, the Cowboys are the favorite. How do we know that? The minus symbol in front of the point spread indicates that the bookmaker thinks the final score will have Dallas winning by 7.5 points or more. The underdog, in our example that’s the New York Giants, will always be indicated with a plus sign. If you wager on the Cowboys on the point spread, America’s Team will have to win by at least 8 points for your wager to pay off. Should the Cowboys win by less than 8 points, your bet is lost.
Bookmakers use odds to even out the bets, getting gamblers to wager on both sides of the line by leveling the playing field. Although there is overall parity in the NFL, there are teams that are haves and others that are have-nots. Indianapolis is still superior to Cincinnati but when they play each other the bookies have to get about half of the bettors to put cash on the Bengals. This covers the sportsbooks ensuring they’ll make a decent amount of cash on just about every game.
Simply, bigger returns. On a point spread bet you would usually have to spend $105 or $110 to win $100. If you bet on the moneyline you may instead only have to spend $50, or even less, to win $100. You won't win as often, of course, because the underdog not only has to cover the spread, but it actually has to win the game outright. Upsets happen, though, and good handicapping will often isolate situations where the likelihood of an upset exceeds the risk of the bet. This is especially relevant in the NBA because the number of games, and the possibility for even the best teams to have a bad night mean that major upsets are far from rare and can be very profitable.
Let's use this formula to calculate the implied probability of the Celtics winning their game against the Grizzlies. We know the odds are -240, which means we'd have to risk $240 for a total potential return of $340 (the initial stake plus the $100 winnings). So the calculation here is $240 divided by $340. This gives us an implied probability of 0.7059.
Oddsmakers do more than pick the winners and losers of each game. They weigh myriad factors to determine which team is favored by how many points. They set an early point spread on each game, then adjust it up or down based on betting patterns. If the Dallas Cowboys are 6-point favorites over the New York Giants, they must win by seven or more points to pay off winning bets. If you wagered on the Giants, you win your bet if New York either beats Dallas outright or loses by five points or fewer.
These are the point spread bets available for three preseason NFL football games. Let's start by identifying all of the elements of these bets so that you know what you're looking at. The first column is the two teams that are competing. This should be pretty straightforward. The next thing you will see is a plus or minus sign on each team's line. Teams with a minus sign in front of the number are the favorites and teams with the plus signs are the underdogs. In the above examples, the Chiefs, Seahawks, and Chargers are all the favorites. The Bengals, Broncos, and Cowboys are all underdogs.
Point spreads are more common in the United States, but you can see them throughout the world. A point spread, in theory, is the sportsbooks attempt to create a "level playing field." Let's look at an exaggerated example that will make this clearer. Let's say the New England Patriots are playing a game against a junior varsity high school football team. They're also using deflated footballs, and the Patriots get to see the high school team's playbook before the game. If a sportsbook were to allow you to bet on which team would win, everyone would bet on the Patriots as they would probably annihilate this other team.
Having set the point spread, this is the point where the gambling public can influence the line. You might have noticed that a line five days before a game might look very different to the line an hour before the kickoff. Barring some major line-up changes due to injuries or suspensions, the line will most likely be moved by weight of money. If the majority of money is coming in on one side of the point spread, the book will move the line to make the bet a little less attractive, which will help them level the book up somewhat.
Have you ever heard of moneyline betting? It's an American term that's traditionally associated with betting on the major US sports. These wagers are available in other parts of the world too, but they're typically referred to as win bets. The same principle applies though. When you correctly select which team will win a match, you'll get paid out at the relevant odds.
Moneylines are a viable alternative to point spreads when betting on football. If you're one of those bettors who only ever bets on the spread, then you could very well be missing out on some good opportunities to find better value. We don't recommend that you stop placing point spreads and only place moneyline wagers, but you should definitely consider both when betting on a game of football. Try to decide which one offers the better value, and then go with that option.
The simplest way to think about a moneyline is to consider a base bet of $100. A moneyline is a number larger than 100, and it is either positive or negative. A line with a positive number means that the team is the underdog. If the line, for example, was +160 then you would make a profit of $160 if you were to bet $100. Obviously, then, the team is a bigger underdog the bigger the number is - a +260 team is perceived to be less likely to win than a +160 team.
Sports betting has been around since 1000 B.C in China, where betting on animal fights was commonplace. In ancient Rome, one could wager on the Gladiatorial games. The idea of betting on sports is as old as organized sport itself. But up until the 1940s, bettors were fairly limited in what kind of bets they could make. The standard system of odds would allow bets on, for example, the 3-1 odds that the Steelers would beat the Browns.