88 Betting – So you’ve decided to join the millions of Americans who bet on sports every year. Great! You have countless options and opportunities to bet legally in the USA. But first, you must have a solid understanding of how to bet on sports. As with any type of financial investment, you want to know how it performs before you throw your money at it.

Every successful sports bettor will master the concept of odds before starting a betting journey. The odds tell bettors how much inherent risk and potential reward there is in a bet, how much money they should bet, and how likely they are to win.

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Odds don’t always represent probabilities. Sometimes, the odds change as sportsbooks try to attract more action to one side or the other. It is well known that various factors influence probabilities, so shifts should not always be taken as an indication of the inevitable outcome of an event.

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When sportsbooks change the odds significantly, bettors often wonder if there will be any edge or advantage. In fact, bettors need more bets on the other side of the potential outcome and may benefit more from “cutting” the bets they have placed.

Like the “rake” in poker or blackjack, the books always take a cut for each bet. These small fees or commissions are called “cuts”, “juices” or “wigs”.

American betting odds always have +/- a fixed number. So what do these positive and negative signs mean?

The – and + on the sports betting line represent favorites and underdogs, respectively. They also show your future payout if you bet on the line.

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A negative number in front of a bet line means that the drawn player or team is the favorite. A negative number means how many bets are needed to win $100.

A positive number in front of the betting line means that the drawn player or team is an underdog. This number represents the amount of your $100 bet.

In most cases, especially in good matches, point spreads and over/under, both sides of the bet are listed with negative odds. Betting on a player, team, prop, spread or negative odds usually puts you at risk more than you get.

Decimal coefficients (‘European’ coefficients, ‘digital’ coefficients or ‘continental’ coefficients) are commonly used in continental Europe, Australia, New Zealand and Canada. Decimal coefficients are easy to read once you understand how they are calculated. Like ‘+/-‘ in the US, favorites and underdogs can be easily identified using decimal numbers.

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Unlike American odds, decimal odds equal the amount won for every $1 wagered. For decimal differences, the number represents the total payout, not the profit. Basically, your bet (or stakes) is rounded to a decimal (no need to add your bet again), making it much easier to calculate your total payout.

For example, imagine there are two teams facing each other. One listed the decimal number as 4.0 and the other as 1.3. For this example, we’ll choose the Golden State Warriors and the Boston Celtics.

These numbers represent the amount you can win for every dollar you bet. So if you win a $100 bet on the Boston Celtics, you’ll win a total of $400 ($100 x $4.00). This amount includes an initial bet of $100, resulting in a total net profit of $300.

Similarly, if you bet $100 on the Golden State Warriors, you could pay a total of $130 ($100 x 1.3). Subtract $100 from this income and you get a net profit of $30.

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The higher the total payout (ie, the higher the decimal number), the less likely that team will win (and the more risky).

Fractional odds (“British” odds, “UK” odds or “traditional” odds) are commonly used by British and Irish sportsbooks and bookmakers. So we often see golf, football, rugby and cricket listed as fractions. Fractional odds are usually denoted by a dash (/) or hyphen (-) and are used by some major international bookmakers.

A fractional odds list of 10/1 (one in ten) means that you win $10 for every dollar you bet, plus your dollar back (ie the amount you bet). In other words, it is the ratio of the amount won (profit) to the original bet, so you get your stake ($1) in addition to the profit ($10), resulting in a total payout of $11. If you bet $100 with odds of 10/1, you’ll win $1,000 for a total of $1,100.

While Golden State and Milwaukee are more likely to win, we can immediately determine that the Celtics are the favorites. For winning the NBA Finals, you’ll earn $159 for every $50 you play in Boston. Meanwhile, for every $50 you bet on Golden State winning, you get $220. For Milwaukee, you’ll win $229 on every $50 bet.

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In the example above, if you win a $100 bet on McIlroy, you can profit $800 (100 x (8/1)) and get your original bet back by $100, resulting in a total payout of $900. If you win a $100 bet on Scheffler, you win $1,000 ($100 x (10/1)) on top of your $100 initial bet, for a total payout of $1,100. Cam Smith’s winnings will be even higher as you earn $1,200 ($100 x (12/1)). By returning the initial bet of $100, that results in a total payout of $1,300.

Too bad? We get it – sports betting doesn’t require an advanced degree in math. Betting and bet conversion calculators can be found all over the internet, and sites like SportsInteraction allow you to look at odds with all three types of odds.

The money line is very simple: it is a direct bet on the winner of a sporting event. This is the O.G. American sports gambling thanks to its simplicity. Unlike spreads, which vary by winning margin but always have relatively similar odds, money lines never contain winning margins, but generally have variable odds.

“Moneyline” may sound complicated to those new to the world of sports betting, but don’t let the lingo get you in over your head. Moneyline betting is about picking a winner – anyone can do it. However, the best bettors know which bets offer the best value and which ones to avoid.

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As we explained in the +/- section, the numbers displayed next to each team/side on the money line are usually American odds. Since we’ve already discussed the American possibilities, you’re way ahead of the game!

As we discussed earlier, a side with a “+” next to their odds is considered an underdog, while a side with a “-” next to their odds is considered a favorite by your sportsbook.

Often there are “-” signs next to both teams or sides. In such cases, the team/side with the number further away from zero is considered favorite (-115 is slightly more favorite than -105). Whenever you bet on the higher probability side (military), you get more money on the money line. Of course, the probability of losing such a bet is even greater.

Let’s look at a concrete example of winning by betting on a money line. Let’s say you’re watching a game between the Green Bay Packers and the Los Angeles Rams, where the Packers are listed at +150 and the Rams at -110.

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If you bet $100 on Green Bay on the +150 money line and the Packers win the game, you get $150 for a total payout of $250. However, if you bet $100 on the Rams -110 money line and LA wins, you get $90.91 for a total of $190.91.

In moneyline betting, lines with plus signs represent the amount you can win on a $100 bet, while odds with minus signs represent the amount you have to bet to win $100.

If you are betting on the winner of the game rather than the moneyline, you are betting against the spread (ATS). The spread essentially levels the betting playing field between the favorite and the underdog of a particular betting event. This allows you as a bettor to gamble not only on wins and losses, but also on how many wins or losses a team has. Spread betting has become the most popular form of sports betting.

First timers always burn early. Handicappers are a well-established career, so they know more about the odds and trends than most new gamblers. Learning to read, interpret and react to spreads are important parts of the bettor’s journey.

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