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# Understanding betting lines and odds

A betting line is a form of wagering whereby the bookmaker or sportsbook set gambling odds and determine the favorite and underdog teams in a match. This. For a money line bet, the numbers within the parenthesis tell you what you will make should that team win the game. For example, if you bet on the Patriots at. The Money Line: Odds for a game based on \$1. A "minus" (-) preceding the number indicates the team is a favorite. A "plus" (+) preceding the number indicates. HOCKEY 3-WAY BETTING

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In the Patriots-Falcons example, the line was set at Had exactly 57 points been scored during Super Bowl LI, all bets on totals would have been refunded. You should now be able to understand odds on any sporting event in decimal format!

American Odds The following table is the analog to the previous one, but this time shown in American format: As you can see, the money line on the Patriots was Or should you stay away from that game? Note: I am not going to discuss how to come up with estimated probabilities here.

It is the most critical and difficult part when betting on sports. In other words, no matter which teams wins the game, the bookie wins! The vigorish is also the cause for staying away from certain games. You see it happening several times a day around the world.

Therefore, let me log in my sportsbook account and bet on them. In any sensible league, the worst team still has at least a tiny chance of beating the top team. See how he is going to quickly back down. He is likely to respond that you are exaggerating. But what is the definition of reasonable? Are to 1 odds acceptable?

How about And yet, they turn out to be winners year in and year out. How does that happen? Because they bet on underdogs the majority of the time. When you roll a dice, each number from 1 to 6 has one chance out of six of showing up. If that crazy someone accepted to play this game on four rolls of the dice, it is possible that you lose on all four occasions.

You might feel like you did something stupid, when in fact you made a smart move. If you keep making clever bets, you will make money in the long run. The probabilities are hugely in your favor. The same kind of argument applies to sports betting. Suppose the whole world knows Team A is much superior to Team B. If the money line on Team B exceeds 5. So, for example, if the line is 6. Odds are what matters the most. If you stick to betting teams for which the odds provide a positive expected return, you will do just fine.

Keep making value bets and you will make money in the long run. I invite you to take a hard look at the various articles because I truly believe it will increase your income tremendously. Who is the Best Online Sportsbook? To me, the answer is crystal clear: You are a non-American: They are rated 1 in my sportsbook reviews. Very reliable and trustworthy! You are an American: Solid reputation, good odds and attractive bonuses! Please click the banners below to open an account with them note: these are affiliate links, which means I will be receiving a commission from them if you do make a deposit after clicking such links.

For example, if the Dodgers were , and the Red Sox were , the Red Sox would be the favorites. The favorite, meanwhile, has a lower payout because their odds of winning are higher. In order to figure out the implied probability of each side winning, two calculations need to be done, one for the underdog and one for the favorite. If you think that seems low, scoop up the odds and lock in the bet.

Decimal Odds Across the pond in the UK, the sports betting market deals mainly in decimal odds, which are essentially payout multipliers. If you see, for example, one team listed as 3. These odds tell you: The probability of the bet winning. Which team is the favorite and which is the underdog. Pro: Easy to determine implied probability. Con: Payout includes the return of your stake, not just the profit like American odds. You can tell that the Red Sox are the favorites because their decimal odds are smaller, meaning their bet offers a smaller payout multiplier than the 2.

Like we mentioned before, the favorite always has a lower payout to balance the higher odds of winning. Decimal Odds Payouts To determine how much money either bet will yield if it wins, simply multiply your stake by the decimal odds.

Determining the implied probability of each bet is easier with decimal odds than it is with American odds. One calculation is used for both teams. If you think that they actually have a higher probability than that, take the bet. Fractional odds are also really easy to understand. These odds tell you: The probability of the betting outcome. A simple payout to stake ratio. Con: If the fractions for both teams have different denominators it can be hard to tell which option is the favorite.

If you want to know the total return, including the amount staked, simply add the denominator to the numerator. The team with the higher payout is always the underdog. Calculating the implied probability of each betting option using fractional odds involves a three-step equation.

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• ## 2 comments for “Understanding betting lines and odds”

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