How Do Odds And Spreads Work

1. How Odds Work
2. How Do Odds Work In Ufc

Welcome to the Sports Betting Odds section of The Sports Geek. If you are new to sports betting and don’t understand how to read betting odds (+150, -110, +2200, etc) we will lay it all out for you and help you learn how the betting odds work. The way that sportsbooks manufacture their odds and betting lines has changed drastically over the years. The sports betting industry was once dominated by old-school Vegas oddsmakers, but much has changed since the advent of online sportsbooks, as well as. The standard system of odds would allow bets on, for example, the 3-1 odds that the Steelers would beat the Browns. That was all before Charles McNeil, a math teacher from Chicago, invented the.

Sports odds work by offering gamblers the chance to profit if they can correctly guess the outcome of a sports event or predict something that happens in sports. The odds represent the financial contract between the gambler and the bookmaker. The three main ways that sports odds are displayed are known as American odds, fractional odds and decimal odds. These three types of odds look different but represent the same thing: the payout for a winning bet in relation to the amount of money that was bet. Point spreads and over-under bets are other types of sports odds.

Casinos and sportsbooks profit when they have to pay out less than they receive in bets. They also collect a commission — sometimes called the 'juice' — on certain bet to increase their chances of making a profit. Sports odds typically are set so that the bookmaker can expect equal betting on each side of the bet, which would ensure that the bookmaker would not lose money, no matter what happens in the sports event. If the bookmaker collected juice on each bet, the bookmaker would be guaranteed to profit if the betting on each side was equal.

American Odds

The odds guarantee the sportsbook operator will see a little money over time. When the odds are set at -110, the bettor must wager $110 to win $100 (or $11 to win $10). The odds on a point spread are most commonly known as the vigorish or “vig” for the sportsbook. A Point Spread is a range of numeric outcomes expressed in points and the bet is whether the outcome will be above or below the spread. This is where the pay-off is based on the accuracy of the wager, rather than a simple 'win or lose' outcome, such as fixed-odds (or money-line) betting.

One common way for bookmakers in the United States to display sports odds is to show either a plus sign (+) or minus sign (-) followed by a number. Odds with a minus sign represents how much money must be bet on a favorite — the team or competitor that is expected to win — in order to win $100 US Dollars (USD), and odds with a plus sign show how much money would be won if $100 USD was bet on an underdog — a team or competitor that is not expected to win. For example, the odds for betting on a favorite might be displayed as -120, which means that a gambler must bet $120 USD to win $100 USD. The odds for betting on an underdog might be displayed as +115, which means that for a winning bet of $100 USD, the gambler would make $115 USD. In a sports event that has one favorite and one underdog, such as a football game, the number listed in the odds for the favorite is higher than the number in the underdog's odds, which increases the bookmaker's chances of making a profit.

Gamblers should be aware that when American odds are used, the total payout for a winning bet is $100 USD more than the number displayed. For example, if a man bet $120 USD on a favorite with -120 odds and won the bet, he would receive a total of $220 USD back from the bookmaker — his original $120 USD bet plus the $100 USD that he won. Likewise, if he won a $100 USD bet on an underdog with +115 odds, he would receive a total of $215 USD back — his $100 USD bet plus the $115 USD he won.

It is not always necessary to bet exactly the amount shown. A gambler might choose to bet much more than $100 USD or want to win more than $100 USD. For example, a woman could bet $3,000 USD on an underdog with +130 odds, and if she won the bet, she would get back a total of $6,900 USD — her original $3,000 USD bet plus $3,900 USD, which is $130 USD for each $100 USD of her bet.

Fractional Odds

In the United Kingdom and in horse racing everywhere, odds typically are displayed in fractions, such as 8/5, 3/1 or 10/1. When spoken, these odds are read like ratios, such as 'eight to five,' 'three to one' or 'ten to one.' The first number is the amount of money that can be won on a bet in the amount of the second number. For example, if a gambler won a bet at 3/1 odds, he or she would win $3 USD for every $1 USD that was bet. Like American odds, the payout number does not include the amount of the original bet, which also is returned to the gambler. So a man who won a $250 USD bet at 3/1 odds would receive $1,000 USD back from the bookmaker — his original $250 USD bet plus his $750 USD winnings.

Decimal Odds

Unlike American odds and fractional odds, decimal odds show the gambler exactly what the payout will be based on the amount of the bet — the return of the original bet amount is built into the number. As the name implies, decimal odds are expressed in decimals, such as 1.50, 2.50 or 4.25. In these three examples, a winning bet of $200 USD would result in a total payout of $300 USD, $500 USD or $850 USD, which are simply the amount multiplied by the decimal shown in the odds. Decimal odds must be higher than 1.00, or even a winning bet would result in the gambler losing money. This method of displaying sports odds is popular in Canada, continental Europe and Australia.

Point Spreads

For a sports event in which a score is kept, gamblers can bet on who will win as well as the margin of victory. Betting on who will win is referred to as a straight-up bet or betting on the moneyline, and betting on the margin of victory is referred to as a point-spread bet. Point spreads are expressed in numbers preceded by minus signs for favorites and plus signs for underdogs, such as -7.5 for a favorite in an American football game and +7.5 for the underdog in the same game.

A bet on a favorite is won when the favorite wins the game by more than the point spread, and a bet on the underdog is won when the underdog wins the game or loses by less than the point spread. For example, if a gambler bet on a team at a point spread of +8 and the team lost by only six points, the gambler would win the bet. On the other hand, if a gambler bet on a team at a point spread of -6 and the team won by only one point, the gambler would lose the bet. Bookmakers typically set the point spread based on both the expected result of the game and what odds will bring in equal betting on both sides.

Point spreads are sometimes listed with odds for the bet, such as -7(-110), -7(11/10) or -7(2.10). All of these odds represent the same bet — a team favored by seven points, with winnings of $11 USD for every $10 USD that is bet. If no odds are displayed with the point spread, it typically is implied that the odds are -110, 11/10 or 2.10.

Over-Under

Another common way to bet on sports event in which a score is kept is the over-under bet, also called betting on the total. In this type of bet, the gambler is betting on the total points scored in the game, regardless of how many points each team scores or which team wins. For example, if the over-under for a basketball game is 180, a gambler could bet the 'over' and win if more than 180 total points are scored or could bet the 'under' and win if fewer than 180 total points are scored. Just like point spreads, over-under bets typically are implied at -110, 11/10 or 2.10 odds unless otherwise specified.

How Odds Work

Other Types of Bets

There are seemingly endless other ways for gamblers to bet on sports. Just a few examples are future bets, in which the bet depends on a result that will take place much later, such as a betting before the season on which team will win the championship; parlays, in which gamblers bet on multiple things and must win all of the bets to receive the payout, usually at very high odds; and proposition bets, in which gamblers bet on very specific results, such as the points scored by a single player or the number of times a certain thing happens in a game. There also are over-under bets that involve things other than the total points scored, such as the combined number of free throws for both teams in a basketball game or the combined number of passing yards for both teams in an American football game.

Basics on Reading College Basketball Odds—Lines, Spread and Totals

College basketball offers sports bettors a wealth of games on which they can wager. During the season, you’ll find a long list of odds from the top books posted on Maddux Sports’ college basketball lines page. Of course, it’s essential that as a bettor you understand how to read these betting odds. In this article, you’ll learn all that you need to know regarding how to understand NCAA Basketball odds, including the point spread, over/under and moneyline.

The elements we’ll be looking at are often referred to by different names. The point spread is often called the spread or the line. The over/under bet is also known as the total. And the all important rotation number, which is used to identify each team that is playing, can be called the number or the rotation mark. By the way, sometimes people will lump all odds together by calling them lines or they may be referring to the spread when they ask, “What’s the line on the Duke game?” Many terms, over the years, have become interchangeable.

The good news is that although terminology may be laced with slang and some inconsistencies, when you look at college basketball lines posted online they all have the same elements and they all look pretty much the same. The primary difference is some books will list the teams for one game side-by-side and another will have one team on top of another. The main thing to remember is that the visiting club is always listed first.

Starting from the left, the first things you’ll see will be the date and time of the game and right after that will be the rotation number and the team names. The point of the number is to create order and ease in making a bet. The numbers are listed in sequence and they are consistent from book to book.

As an example if Duke is playing at North Carolina and the Blue Devils have a rotation number of 901, then the Tar Heels, who are the home team and listed second, will be 902. In the next games listed, the visiting team would be 903 and the home club 904 and so the sequencing continues.

Because every sportsbook uses the same numbers, it makes it easy for the bettor to locate the game and the odds at different sites and it provides a shorthand by which bettors can make their wagers over the phone or at a land-based book. To avoid confusion when betting, you don’t mention the name of the team but rather the rotation number.

These initial parts of the line, which are used to identify the game which is being bet, read from left to right—date and time of game, rotation numbers and team names. All elements to the right of this information relate to the college basketball odds for that specific game. This is where you will find the point spread, moneyline and over/under.

The reason the point spread exists is to make it more difficult for sports bettors to pick a winner. In college basketball odds, as in college football, some spreads can be huge. How big might they be? If a team such as Duke or North Carolina, both of which a powerhouses, plays a club such as Idaho State from the much weaker Big Sky Conference the spread could be 40 points or more. Without the spread, it would be much too easy to pick the winner. With the spread in place, bookies hope to even out the bets between the two teams.

This is how the point spread works. The team that is favored is listed with a minus or negative sign and a number, while the underdog is listed with a plus or positive sign and a number. The favorite has points taken away and the dog is given points. In our game where Duke is visiting North Carolina, the spread would be relatively tight since both clubs are national contenders. Duke, because they are visiting, might be listed at +2.5, which means North Carolina would be -2.5.

If you wager on the Blue Devils and they win outright or lose by less than three points, then you win. Bet on the Tar Heels and if they win by three or more points, you win. Often the point spread is listed with a ½ point faction or decimal, which ensures no matter what the score the game cannot end in a tie. If the spread is a whole number, then the contest could end in a tie and that would result in a push. A push means that all bets are off and all cash is returned to the bettors. If the spread was 2 in the Duke/North Carolina game and the final score was Duke (+2) 88 and North Carolina (-2) 90, it would be a tie and a push.

How Do Odds Work In Ufc

The other number you’ll see associated with the spread is the stake—how much you have to bet to realize a profit of $100. The most common stake you’ll see is listed as -110. This means that you must wager $110 to win $100. Note that the payout on a spread wager is not even money (1:1), as some will say. If it were, you would wager $110 to win $110. The odds are a bit less than even, standing at 0.90:1.00. That’s 10% less than even. Where does that 10% of your payout go? It’s taken by the book as part of their commission, which is also called vigorish or vig.

Next, to the right of the point spread, is the moneyline. Note: some books may list the moneyline separately under a moneyline tab. But often the line is part of the odds listing. This type of bet is quite different from the spread due to the fact that no points are given or taken away and the basketball team that wins outright is the one that pays off. The way the books even the playing field is they charge more for you to wager on the favorite while offering a smaller payout and charge less to bet on the dog while providing a bigger payout.

Using the Duke and North Carolina matchup, the moneyline would have the dog Blue Devils at +120 and the favorite Tar Heels at -140. This moneyline is directly connected to the spread of 2.5. With the moneyline, a club that’s posted on the plus side shows how much you’ll win when wagering $100 and when a team is listed in the negative that tells you how much you must bet to win $100. In our example, you would wager $100 on Duke (+120) to win $120 and $140 on North Carolina (-140) to win $100.
Below is a list of the corresponding point spreads as they relate to the moneyline, ranging from -2 to -10.

With college basketball odds the last number you will see, which is posted to the right, is the over/under. As it is with the spread, they may not be expressed as a whole number. The over/under represents the total number of points that may be scored in the game. Your wager is either on the over or the under.

In the Duke/North Carolina contest, the total would be around 152.5. If the sum of the points scored by both teams is 153 or higher, the over wins and if it is 152 or lower, then the under wins. As it is with the point spread, this number comes from handicappers working on and assessing matchups, stats, coaches and player performance.

Once odds are posted for a game, sports bettors need to decide quickly, based on research, which bets they are going to take. Early college basketball odds tend to be soft and offer more leeway than adjusted odds, which get tighter as game time gets closer. The elements discussed in this article are all common in NCAA Basketball odds listings. Know how to read each part in order to make smart and timely bets.