• How Are Sports Betting Odds Calculated Ufc
• How Are Sports Odds Determined
• How Do Betting Sites Calculate Odds

Sports betting odds are calculated with the main goal for sportsbooks being to receive equal money on both sides of a bet.

For example, if the Kansas City Chiefs are a -10 point favorite against the Oakland Raiders and are getting 90% of the money, the sportsbook would likely adjust their line so they don't finish in the negative if the Chiefs cover that spread. And so, the sportsbook will continue to raise the line until the other side starts receiving action (from 10.5 to 11 to 11.5, etc). While receiving equal money isn't always possible, it's always the goal because if that's the case, the sportsbook will come out in the positive no matter the final result.

Sports Betting Odds Explained – Decimal Odds Of the three types of betting odds, you will see across sportsbooks the decimal odds are the easiest to understand and calculate. While most people are used to seeing the American odds as standard, you can change the odds format with most sportsbooks, with decimal odds the most popular switch. Sports Betting Odds Calculators. Moneyline Odds Calculator. Convert the amount wagered and the odds into possible winnings. Works in reverse too. Enter the amount you want to win and the odds to see the amount you need to wager. Use American odds -110, +110, etc. Amount to Bet $. Totals or OVER/UNDER betting is when you wager on the combined score of the two teams competing in any given game, and whether the total will be OVER or UNDER the sportsbook’s prediction. The amount that is set by the oddsmakers is based on how they foresee a game unfolding from a scoring perspective. Sports betting odds are calculated with the main goal for sportsbooks being to receive equal money on both sides of a bet. For example, if the Kansas City Chiefs are a -10 point favorite against the Oakland Raiders and are getting 90% of the money, the sportsbook would likely adjust their line so.

That's because of the vig, or the amount the sportsbook charges for taking a bet. In the above situation, if equal money was put on the Chiefs -10 (-110) and Raiders +10 (-110), the sportsbook would finish in the positive no matter the result. Say there is one bet on each side, $110 to win $100. If the Chiefs win by seven points and don't cover, the Chiefs bettor is out $110, while the Raiders bettor is up $100. That extra $10 goes to the sportsbook because of the -110 odds and that's why the sportsbook wants equal money.

To understand how odds are calculated, it's best to learn what they specify. Sports betting odds and lines specify the implied probability of an outcome and how much money can be won.

Odds can refer to moneyline, spread or total bets, and they can be displayed as American, British (fractional) or European (decimal). While odds look different, they mean the same thing.

American Odds

Most sportsbooks in the United States use American Odds. The main signifiers of American odds are that they either have a plus (+) or minus (-) in front of them and are in terms of 100.

Understanding plus (+) and minus (-) odds is the most important thing before learning about American odds.

Plus and Minus Odds

The plus (+) and minus (-) in sports betting can refer to either the point spread or betting odds. In terms of the spread, the ' - ' always refers to the favorite and the ' + ' always refers to the underdog. For example, you can bet the Dallas Cowboys as a -7 point favorite to beat the Green Bay Packers or the Packers as a +7 point underdog. If you bet the Cowboys -7 and they win by more than seven points, you win your bet. Similarly, if you bet the Packers +7 and they lose by less than seven points or win outright, you win your bet.

It's a similar case for the betting odds, though favorites don't always have a ' - ,' especially in sports like baseball, hockey or soccer where final results are often decided by one run or one goal. It's especially the case in soccer since matches can end in draws, whereas a winner is declared in almost every other sport because of overtime rules. However, in most cases, the favorite will have a ' - ' in front of its moneyline odds while the underdog will always have a ' + .'

For an example of moneyline betting odds, you can bet the Eagles as a -150 favorite to win or the Giants as a +180 underdog to win. If you bet $100 on the Eagles to win at -150, you would net a payout of $166.70. If you bet on the Giants to win at +180, the payout would be $280 because they are an underdog.

For something like soccer, Arsenal could be a +150 favorite against Everton as a +190 underdog, while the draw would be set at +220. In this case, the payout would be decent for every situation mainly because the teams are even and there are three possible results compared to just two for something like football (unless they go scoreless in overtime). In this case where both teams have a ' + ' in front of their odds, the team with the lower number is the favorite. The lower number also means a lower payout, which is always the case for betting the favorite on the moneyline. A $100 bet on Arsenal +150 would net $250, while a $100 bet on Everton +190 would net $290. Going further, a $100 bet on the draw at +220 would payout $320.

Moneyline Bets

A moneyline bet is on the straight-up winner of a game.

Moneyline bets are as straightforward as it gets in sports betting. You're betting on which side will win an event and if that side wins, you win.

Spread Bets

A spread bet is on the forecasted point differential between two teams. A minus (-) indicates the favorite and a plus (+) is the underdog.

In each bet, a push is also possible if the Lakers win by exactly seven points. That would mean each side gets their money back.

As for the odds, the most common number for spread bets is -110, but that number varies depending on the location, sportsbook and how popular each side is. The typical number is -110, which means you have to bet $110 to win $100. However, there are states where odds are worse in order to get the state more money such as -115 or -120. This is also called the vig, which is the amount the sportsbook charges per bet.

If two teams are equal, PK will be given alongside a team name which means the matchup is considered a 'pick 'em.' In this case, point spread doesn't matter as this boils down to a moneyline bet and a tie would get your money back.

Over/under (total) Bets

An over/under bet applies to the score or points in a given contest.

The below over/under table is for the Dallas Cowboys and New York Giants game.

Similar to a spread bet, if the Cowboys and Giants combine for exactly 49 points, it's a push and each side get their money back. Also similar to spread bets is that the odds can vary.

Decimal Odds (British)

Decimal odds are most popular in Australia, Canada, Europe and New Zealand. These odds may be the easiest of the three to understand just by looking at the numbers.

The team with the higher of the two numbers is the underdog and the team with the lower of the numbers is the favorite. The return can be calculated by multiplying the bet with the the decimal odds.

Fractional Odds (European)

Fractional odds are most popular in the United Kingdom and Ireland, and are often the choice for horse racing. Also, a lot of sportsbooks in the United States will use fractional odds for futures odds.

Example odds to win the Super Bowl:

Similar to decimal odds, the return can be determined by multiplying the odds and the bet. Above, 100 times 2.5 (5/2) equals 250. In horse racing, odds will dip to something like 3/5 or 5/7 which usually means that horse is a big favorite. A 3/5 favorite is equal to -167 in American odds and 1.6 in decimal odds.

Winning at sports betting means having a thorough understanding of the odds on offer. Value cannot be spotted unless people completely, 100 per cent, know the detail of the price they are taking for a bet. Sports betting odds can be a complicated business. But it does not have to be as confusing as it may seem at first. Our ultimate guide to how sports betting odds are calculated tells you everything you need to know to get started.

Introduction to sports betting odds

Most sports fans who are seeking to have a bet will already know a bit about sports betting. But for others who are new to gambling it can be very hard to get your head around how they work. Betting odds are typically shown as a fraction. These are easy to work out as they directly correlate to how much cash a bet will win. Let’s take 8/11 as an example for this bet. Anyone who bets 8 of their chosen currency will receive 11 in return if the bet wins. Of course, this is in addition to the stake being returned to the player as well.

Betting odds can also be shown as a decimal. For some users, decimal sports betting odds are easier to understand. An example of a decimal price on offer on a sports betting website may be 1.5. This means that for every 1 of your chosen currency you bet, you will get back 1.5 for a winning bet. It does not really matter whether you choose to use decimals or fractions when it comes to sports betting odds. Most bookie websites in the 21st century will allow you to swap between the two options very easily indeed.

How Are Sports Betting Odds Calculated Ufc

How do bookies prepare their sports betting odds?

There are a lot of factors involved when it comes to setting the prices for any particular match or sports event.

In essence, betting odds show the probability of an event happening. Therefore, a price of 9/1 means that the event will happen 10 per cent of the time, on average. The bookies also have to factor in their cut as the house. As such, the three options for a football match price – win, lose or draw – will not add up to a total of 100 per cent. Bookies will always make sure they still have an edge when they come to calculate their odds.

Form plays a big part in how bookies calculate the odds they offer to customers. In football, if one team has won five games in a row and they are playing a team that has lost five matches straight, it is clear which side is more likely to win. Bookies would, therefore, make them the favourites in the sports betting odds.

The talent of the teams involved plays a key role as well. Clearly, more talented teams are more likely to win their matches and this is taken into account by the bookies as well. Other things they keep in mind include injuries and suspensions. Team news has a big part to play in how betting odds are decided by the sports betting websites.

Head-to-head records may come into the reckoning in some cases as well. Some teams always seem to win when they come up against certain opposition. When this fixture comes up in the calendar, their price to win might be a little bit lower than usual as a result.

Spotting value in sports betting odds

How Are Sports Odds Determined

The key thing for people placing bets to think about when selecting wagers is value. Picking value bets is easier said than done, of course. But it can be done. Let’s say a team has been in a good run of form at home. They may have won a few games in a row in front of their own fans. The visiting team, though, are considered to be a more talented side overall. However, they have been struggling for form of late. This offers sports betting websites a bit of a problem. Should they think about the form the most, or the talent of the teams involved?

How Do Betting Sites Calculate Odds

This can lead to opportunities in terms of value if they still prefer to stick with the more talented of the two teams as the favourite. All in all, spotting value in the sports betting odds offered by the bookies takes a lot of practice.