While participating in any sports betting, you must understand about the odds and therefore in this write up, we have provided few information about reading odds which will be useful if you happen to be new to betting in sports.
Those who are participating in UFA sports betting must understand about the odds to increase the chance of winning some money.
What is a sport betting?
Often people are not aware about how they should calculate or read sports betting odds, hence in the following paragraphs we have tried to explain how betting odds really work.
American style odds are most common sports betting odds that is used mostly in North America and is explained below.
- American-style betting odds for sports
These types of American Odds are common odds used. For a beginner, reading or understanding the sports betting odds is little confusing, so we have tried to explain by using an example:
- New England Patriots with odds: +120
- Pittsburgh Steelers with odds: -140
The sign before the number will indicate whether placing any wager will result in more money or less money that you have wagered. In case, you have negative odds then pay-out will be less as compared to the amount you wagered and vice versa.
In the above example, -140 will show how much amount you will need to wager to win $100. In the present example, you have to bet the amount of $140 to win $100 as profits or $14 to win $10.
Now in case of +120 in above example above, will show the amount of money you will win for +120 odds, it will show that with $100 bet you will get $120 in profit and with $10 bet you will get $12 in profits.
Following is another example of betting odd that is taken from online betting site.
Here in the example Los Angeles has been listed at +130 and New England has been listed at -150.
Best part of online betting is that online sportsbooks will perform calculations for you prior to your placing bet. Just you need to click on outcome or the team for whom you want to bet on, then input your amount that you want to put wager and it can show you the potential pay out prior to confirming your bet.
- Decimal-style betting odds for sports
This style of odds is mostly used in Europe, and quite easy to understand. For calculating the odds in decimal style, you simply have to multiply amount that you want to wager by decimal odds and you get the pay-out.
USA with odds 2.40
Brazil with odds 1.55
For placing $10 wager on USA at 2.40, just multiply your wager of $10 wager by 2.40 odds and pay-out will be $24. To find your profits you just subtract your wager and, in this example, it is $24 – $10 and your potential pay-out will be $14 in profits.
In case, you place wager of $10 on the Brazil then just multiply the wager by odds and you get if you win $15.50 with $5.50 in profits.