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Welcome to the Sports Betting Odds section of The Sports Geek. If you are new to sports betting and don’t understand how to read betting odds (+150, -110, +2200, etc) we will lay it all out for you and help you learn how the betting odds work.
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Sports Betting Odds Explained
Many people don’t know how to read or calculate sports betting odds, so below we have done our best on explaining how betting odds work. The most common type of sports betting odds used in North America are the American style odds which we explain below.
American Style Sports Betting Odds
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Most online sportsbooks will list their odds in what is called “American Odds”. There are a couple different versions of sports betting odds, but these American Odds are the most common odds used. Reading and understanding sports betting odds can bet a little confusing to beginners, so we have provided an example below using two NFL football teams:
American Odds
- Matchup Odds
- New England Patriots +120
- Pittsburgh Steelers -140
The number shown in the bracket represents the odds. The American Odds have two components to them, the first being the positive or negative sign, and the second being the number that follows the sign.
The sign in front of the number indicates whether placing a wager on that outcome will pay out more money then you have wagered or less money then you have wagered. If the odd is negative (-) it means that outcome is more likely to happen and placing a bet on that outcome would payout less than the amount you wagered, while a positive (+) odd shows that the outcome is less likely to happen and it would pay out more than the amount you wagered.
The next step is figuring out exactly how much the bet pays out, which is where the numbers in the odds come into play.
A listed odd with a – sign in front of it, such as the -140 in our example above, shows us how much money you would need to wager in order to win $100. So using the -140, this would show us that you would need to bet $140 in order to win $100 in profits. You can easily substitute the $100 bet for a $10 bet by moving the decimal place over one spot, showing us that you would need to wager $14 in order to win $10 in profits.
Examples:
A listed odd with a + sign in front of it, such as the +120 in our example above, shows us how much money you would win on a $100 bet. Using the +120 odds, it shows us that a $100 bet on that outcome would pay out $120 in profits. Again this can easily be converted into smaller or larger size bets. A $10 bet on +120 odds would pay out $12 in profits.
Examples:
Below is an example of NFL betting odds taken from an online betting site.
In this example you can see Los Angeles is listed at +130 ($100 bet pays $130 plus of course your original wager back) and New England is listed at -150 ($150 bet pays $100).
The great thing about betting online is that the online sportsbooks will do the calculations for you before you place your bet. You can click on the outcome or team you would like to bet on, and then input the amount you wish to wager and it will show you your potential pay out before you confirm your bet.
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Decimal Style Sports Betting Odds
Decimal style odds are used mostly in Europe, and are pretty easy to understand. To calculate the decimal style odds all you will need to do is simply multiply the amount you wish to wager by the decimal odds shown and you will get your payout. For example it may look something like this:
If you wanted to place a $10 wager on the USA at 2.40 you would simply need to multiply your $10 wager by the 2.40 odds (10 x 2.40) to find out that the payout is $24. It is important to realize that with decimal style odds it includes the amount you wagered, so to find out profits you would need to subtract your wager ($24 – $10) to find out your potential payout is $14 in profits.
If you wanted to place a $10 wager on Brazil you would again just multiply $10 x 1.55 to find out that you would win $15.50 total or $5.50 in profits.
Decimal style betting odds are very simple to understand, but you won’t see them displayed in many North American sportsbooks. With that said, most online betting sites will allow you to chose the style of betting odds you want displayed, with American odds set as the default.
The CFP National Championship takes place Monday with the Alabama Crimson Tide meeting the Ohio State Buckeyes for an 8 p.m. ET kickoff at Hard Rock Stadium in Miami Gardens, Fla. SportsbookWire covers the game in full with college football betting picks and predictions and below, we’ll look at how to bet the National Championship between Alabama and Ohio State.
How To Bet Tennis
Also see:
Alabama vs. Ohio State odds, picks and predictionNational Championship predictions with Jason McIntyreAlabama vs. Ohio State: Betting odds, spread and lines
Odds via BetMGM; access USA TODAY Sports’ betting odds for a full list. Lines last updated Sunday at 4:38 p.m. ET.
Money line: Alabama -300 (bet $300 to win $100) Ohio State +240 (bet $100 to win $240)Against the spread/ATS: Alabama -8.5 (-110) Ohio State +8.5 (-110)Over/Under: 75.5 (O: -110 U: -110)Special National Championship Betting Promotion!
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National Championship betting: Money line (ML)
The money line simply asks for which team will win the game and includes the possibility of overtime.
Favored Alabama has an implied win probability of 75% with -300 money line odds. Those odds can also be expressed as a fraction of 1/3 or a decimal of 1.33. It would take a $300 bet for a profit of $100 with a win by the Crimson Tide.
Underdog Ohio State’s +240 money line odds represent an implied win probability of 29.41%. The fractional odds are 12/5 with 3.40 decimal odds. A $100 bet would return a profit of $240 with an upset win.
National Championship betting: Against the spread (ATS)
The spread of 8.5 points carries equal -110 odds for both teams ($110 bet for $100 profit). Alabama will need to win by at least 9 points. Ohio State can cover its side of the spread by winning outright or staying within 8 points in a loss.
Alternate spreads exist for each half or exclusively the first quarter. The spread can be altered from 10.5 to 21.5 to make the result more or less likely for either team. The higher the probability, the lower the odds will be for a potential payout.
Increasing the degree of difficulty with a spread of -10 for Alabama to win by at least 11 points comes with more profitable odds of +100 or even-money. An Alabama win by exactly 10 points would result in a push and all bets on either side would be refunded in full.
National Championship betting: Over/Under (O/U)
The Over/Under of 75.5 asks whether the final score of the game would combine to be higher or lower than 75.5 points. Any combined score of 76 or more points (i.e., 40-36) would be a win for Over bettors. A combined score of 75 or fewer points (i.e., 38-37) would be a win for Under bettors.
Just like the spread, alternate lines are available and each team’s individual point total can be bet separately.
National Championship betting: Prop bets
Props are available in the form of Yes/No questions such as “Will there be a safety in the game?” or “Will the game go into overtime?”
These can offer much higher odds on one side or the other, but remember, the more profitable the odds, the lower the probability of that result.
National Championship betting: Live betting
BetMGM has an excellent mobile sports betting app which allows users to place bets once the game is underway. Following along and placing a bet after a big play or an injury can offer great value when disagreeing with the sportsbook’s lines.
A pregame favorite such as Alabama can suddenly come with more profitable odds if Ohio State happens to jump out to the early lead.
Want some action on this one? Place a bet at BetMGM now. For more sports betting picks and tips, visit SportsbookWire.com. Please gamble responsibly.
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Additional college sports coverage from USA TODAY Sports Media Group:
How To Bet On Football
Alabama / Auburn / Florida / Georgia / LSU / Michigan / Michigan State / Notre Dame / Ohio State / Oklahoma / Tennessee / Texas / USC / Wisconsin
How To Bet On Sports
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