Sports Betting Odds
When you start out betting on sports the first thing that every handicapper needs to learn is how to read sports betting odds. If you can't read the odds then you're not going to be able to figure out how much your bet could potentially pay as well as how much your bet is going to cost to make. In the world of sports you'll rarely be able to bet even money and it is a lot different then betting with your friends. If you need to learn how to read sports betting odds we're going to explain everything you need to know including how to read decimal odds, fraction odds and American odds.
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» How to Read American Odds
For those of you that live in the United States, Canada or several other countries, you'll need to be able to understand American odds. US sportbooks will post odds using American odds, so it's important to be able to read this type of sports betting odds. I have posted an example below of a bet using American sports betting odds.
- New York Yankees -170 vs. Boston Red Sox +135
The most important thing to look at when looking at the bet above is the sign in front of the odds. When you see a (-) in front of the odds it means you need to risk juice on the bet. So, if you were betting on the Yankees in the example above you would need to wager $17 in order to win $10. The (+) sign means the opposite of the (-) sign and signifies the team is an underdog in the event. If you took the Red Sox in the example above a $10 bet would give you the chance to win $13.50 profit.
» How to Read Decimal Odds
Decimal odds are available on several of the European sportbooks and if you'd prefer using this method then by all means use it. I'm going to post a quick example below of a bet using decimal odds, in case you don't know how to read them.
- Manchester United 1.50 vs. Chelsea 3.00
Decimal odds are extremely simple to use, as the odds represent how much money you'll make based on a single unit wager. A unit can be any amount of money such as $1, $10 or $20. The size of your unit is irrelevant since it doesn't change how you read the decimal odds. If you bet $10 on Manchester United with 1.50 odds you'd receive $15 back if your bet won. If you bet $10 on Chelsea at 3.00 odds you'd receive $30 back if your bet won.
» How to Read Fraction Odds
Fraction odds are simple to understand as well and you'll notice them if you bet with a UK sportsbook. If we use the same example as we did above the odds on Manchester United would like 1/2 . Fraction odds show the handicapper how much profit he'll make on a bet rather then showing you your profit + stake. If you bet $10 on Manchester United with 1/2 odds you would be able to figure out that you would make $5 profit. If you bet on Chelsea and the odds were 2/1, which means the same as 3.00 you would be able to figure out that a $10 bet would create $20 in profit if the bet won.
Learning how to read sports betting odds is really simple for anyone that can do a bit of math. Make sure you bookmark this page so that you can come back to it whenever you need to calculate odds. You'll experience all three types of odds when you wager online since sportbooks cater to all markets. In my opinion the most common type of odds online are American odds though, so make sure you learn how to understand those odds first.