- What Is An Odd In Betting
- What Does Betting Odd Meaning
- What Does Betting Odd Mean Spiritually
- What Does Betting Odd Means
- Betting Odds Explained
- Betting odds represent the probability of an event to happen and therefore enable you to work out how much money you will win if your bet wins. As an example, with odds of 4/1, for every £1 you bet, you will win £4. There is a 20% chance of this happening, calculated by 1 / (4 + 1) = 0.20.
- When you bet on the favorite you get worse payout odds on your bet since they’re more likely to win. The team with a negative number (like -110) is the favorite. The number next to the minus sign is the amount you must bet to win $100 in profit. If the number is -110, you must bet $110 to win $100.
What Is An Odd In Betting
Odds expressed in terms of money, with $100 being the standard. If the odds are minus (–), then that amount of money must be wagered to win $100. –150 means you must bet $150 to win $100.) If. In summary, minus + a number means you BET that amount for every $100 you want to win. Plus + a number means you WIN that amount for every $100 you bet. Hockey Betting Odds: Standard hockey betting operates on the money line. Look at the money line as simply a way to express odds. In hockey betting, you pick the winner of the game. Anytime you see odds with a minus in front of it, take the number and that is what you would need to bet in order to win $100 in profit. So, a -450 number would mean that you would have to bet $450 in order to win $100 in profit back. On the other hand, an odds number with a 'plus' in front of it means that the team or player is an underdog.
As a fan, you don’t care if your team wins by a point or 100. A win is a win, though that 100-point win would be a little easier on the nerves.
In sports betting, how much a team wins by is usually all that matters.
The most popular way to bet for the two most popular sports, basketball and football, is with the point spread, also known as the “side.” Most baseball, hockey and soccer bets are on the moneyline, which is betting on a team to win straight up with adjusted odds. Football and basketball have moneyline bets available too, but most people will take the point spread.
The concept can be a bit confusing if you’ve never dabbled in sports betting before.
Why bet with the point spread?
The point spread was created to attract more action on a game. When the San Francisco 49ers are expected to blow out the Arizona Cardinals, it’s not enticing to lay $300 to win $100 on a moneyline. But when the 49ers are 11-point favorites and each side is -110 odds? That’s much easier.
In that example, the 49ers are spotting the Cardinals 11 points before the game starts, at least for bettors. The 49ers have to win by 12 or more points to cover the spread. If the Cardinals win or lose by 10 or less, that side wins the bet. If the game lands on 11, like a 21-10 49ers win, it’s a push and all bets are refunded. If you see a -11 that means that team is favored, and +11 means you’re taking the underdog.
Nothing sharpens your math skills better than trying to figure out how big your lead as a bettor is if you have a 22.5-point basketball underdog that is losing 90-72.
The problem with the point spread can be when a team — which really doesn’t care that you bet the favorite at -11 — has a 14-point lead but gives up a meaningless score at the end to win by only seven points. They’re still happy with the win. You, as a bettor, are not.
What Does Betting Odd Meaning© Provided by Yahoo! Sports Sportsbooks have large boards that display point spreads for all games that day. (AP Photo/John Locher, File)
Point spreads lead to bad beats
The most infamous example of a bad beat with the point spread probably came in the 2004 Final Four at the NCAA men’s basketball tournament.
Duke was a 2.5-point underdog against UConn. The Huskies rallied late and took a 79-75 lead on a free throw with 3.2 seconds left. The game itself was over; Duke couldn’t score twice in a few seconds. But Duke guard Chris Duhon pulled up for a running 3-pointer just over the half-court line and banked it in at the buzzer. Duke lost 79-78, but bettors who had Duke and 2.5 points won. March Madness is a huge event for bettors, and reports at the time estimated that Duhon’s “meaningless” shot resulted in a $30 or $40 million swing in Nevada. UConn players celebrated at the final buzzer. UConn bettors doubled over in pain. That’s the difference between betting the moneyline and the point spread.
Baseball and hockey have point spreads too, the “run line” in baseball and “puck line” in hockey. It’s generally 1.5 with odds adjusting accordingly. Taking a big baseball favorite at -1.5 runs can make the odds more palatable. Of course, betting the New York Yankees at -1.5 to bring down the odds from -190 to -110 isn’t too fun when they win 4-3 and you don’t cash a bet.
Betting on the point spread is the most common way to wager on sports. And the first time you take a favorite that wins the game but doesn’t cover the spread, you’ll understand every bettor’s heartbreak.
The legal sports betting world is changing. Quickly.
New states are opening their arms to the world of legal sports betting and are opening opportunities for you to take part in making legal sports bets on your favorite teams in casinos, race tracks and through online betting.
Part of our goal at SportsbookWire is to educate the new and/or casual sports bettor on the typical terms around legal sports betting and the various nuances that go into making a sports bet or wager.
In sports betting, a negative money line (represented as -200, -300, -400, etc.) represents the amount of money that you need to bet in order to win $100 if your bet is correct.
Here are some negative money line examples:The New England Patriots are -500 against the Buffalo Bills. If you’re betting the Patriots, you would need to wager $500 in order to win $100 if your bet is correct with the Patriots winning.The New York Yankees are -200 to beat the New York Mets. If you are betting on the Yankees, you need to wager $200 to win $100 if your bet is correct with the Yankees winning.The Tampa Bay Lightning are
What Does Betting Odd Mean Spiritually-400 to beat the Detroit Red Wings. If you’re betting on the Lightning to win, you need to wager $400 to win $100 if your bet is correct with the Lightning winning.
It’s actually pretty easy and we’re sure you get the point here.
Fractional odds of 1/2 and decimal odds of 1.5 are also equivalent in this scenario.
A negative money line is also considered as the favorite – or chalk pick – by the oddsmakers.
We’ll get into that more in other pieces, but the heavier the team, player, situation or bet in general is favored to succeed, the higher the negative money line.
What Does Betting Odd MeansIn the first round of the 2018-19 NBA Playoffs, the Golden State Warriors money line was -20000 to beat the Los Angeles Clippers. That means you would need to have wagered $20,000 to win $100 if the Clippers won.Kind of ridiculous, right? That’s how heavy the Warriors were favored over the Clippers … the sports books don’t want you making that bet, because it was expected to be an easy Warriors win.
Betting Odds Explained
If you’re looking for more educational information on sports betting and terms around such, be sure to check out our How to Bet on Sports 101 section for a variety of betting definitions, betting terms and sports betting strategies to help you build your bank account.