Sports odds differ from one system to another system and understanding the sports odds means the calculating of probability increases, with the chances of winning as well. It is crucial to understand how sports odds work, to become a successful sports bettor.

Different types of Sports odds

There are three different sports odds, American, Decimal, and Fractional formats. They mainly serve two different purposes:

  • They signal the probability of outcome
  • They predict the money you could win by betting

American Odds

American odds are straightforward to signify and understand. If you ever see three-digit numbers with a positive or minus sign, then it is identified as American odds.

  • The plus and minus symbols represent the prospects of payout, it either represent betting on the favorite or as an underdog
  • Negative numbers represents betting on the betting line and how much money to bet to win $100
  • If it is positive, it means betting as the underdog and how much you’ll win if you bet a $100.

Payouts

For instance, you’re betting on penguins which are the favorites, then depending on the odds, you would wager $130. If you wager $100 as the underdogs, that is one of the Senators, then you can win $110. If you’re not comfortable with it, you can use a formula and solve it for x.

Decimal Odds

Decimal Odds

Out of all the other odds we’re going to discuss in this article, decimal odds are the easiest ones you’ll encounter. Determining the payouts with the decimal odds is the best means, all you have to be multiply the wager with the odds, that are associated with the betting team.

Fractional odds

Fractional odds are the type of odds that are used in the betting strategies of the United Kingdom and horse race betting. The odds’ kind of look bizarre like 9/15 or ½. If you wish to say it out aloud, then you got to say nine to five or one to two.

The left side indicates the expectancy of the outcome to fail and the right side represents the expectancy of the outcome to succeed.

What is Push?

Push is not exactly related to the odds, put it is another important aspect that affects the odd of a game or the payouts. Before wagering on the bet or the sports, a player must be educated about the concept of push. In simple terms, push is a tie.

Although it is not available on the money line, it often allows to end or conclude a game with a tie. If a push occurs during a bet, then the money should be refunded. It will never be considered either as a win or a loss.

Bottom Line

Bottom Line

Understanding the odds and calculating them is a crucial decision for the bookmakers, and also to become a great sports bettor. If you can implement at least one of these strategies, then you can work wonders on your next horse race.