How to calculate and read sports betting odds

 How to read and calculate odds of winning at sports betting

As mobile betting grows, so have the odds of winning at gambling. Different formats of betting odds can be found by country or sport. This makes it important to know how to maximize your winnings.

It's crucial to learn how betting odds work before placing your next bet. The Post provides answers to questions that can help you achieve that.

How to read sports betting odds

The betting odds can be displayed in three different formats -- American, decimal or fractional. These indicate the likelihood of the game or teams they are linked to and how much an individual may win by selecting those odds.

American odds, which are the default options in United States sportsbooks according Action Network, have a "+” or "-” symbol at the end of a three digit number. For decimal odds, a number is added to the end to round it to two decimal points, such as New York Yankees (5.40). The sum of the wagers and the winnings is determined by this number. For fractional odds, most often seen in horse races, the numerator describes how many times the bookkeeper expects the result not to work while the denominator describes how many times they believe it will succeed. Horse A could lose eight out 13 races, while Horse B would win five.

What does the +/- signify in sports betting

Bets can be placed either on the favorite, which is known as the team expected to win, and the underdog, which refers to the team that's likely to lose. The "+” sign placed in front of a number, such as +350, indicates that a bet was placed on the underdog. The three digits that follow that sign indicate the amount that will be paid if the bet is successful and the bettor wagered $100.

The "-", sign that is placed before a number, indicates that a bet was placed on the favorite. The three digits following, similar to the bets made on the underdog signal how much someone would make if he or she bet $100.

How do bookmakers create odds?

It is important to remember that all odds and bookmakers are created with the goal of making profit. If all bets could be covered, then the goal would be for the books to balance out who won and who lost. Statistics and analytic research can also influence odds. This is because of past outcomes, given certain opponents, and particular situations.

How to calculate payouts on odds bets

American odds are calculated on the basis of a $100 wager. For example, let's say the New York Giants are in favor against the Philadelphia Eagles. If someone was to wager $24, then the 24 multiplied with the $100 baseline bet, and then divided by 120. This payout would be $20.

If you bet on the underdog, however, the fraction is flipped. If the Giants were the underdogs against Eagles with the line +120 that 120 would be multiplied and divided 100 to give a payout of $28.80.

It is slightly different to calculate winnings for decimal or fractional odds. In the Yankees case, $50 is wagered at 5.40 odds. The bet winner wins. These two numbers, plus the original wager payment, determine the winnings. The total amount is $220 in this example.

Fractional odds are calculated by multiplying the wagered amount with the fraction. For example, if $25 was wagered on horse racing, the total winnings would equal $40. understanding betting winning in betting sports