How to Read Sports Betting Odds

Sports betting can be an exciting and profitable hobby, but it can also be intimidating for beginners. This guide will help you understand how to read betting odds and make informed bets on your favorite sports.

What are Betting Odds?

Betting odds are numbers that represent the likelihood of an event occurring. In sports betting, odds are used to determine how much money you stand to win from a bet. Understanding betting odds is essential for making informed wagers.

Types of Betting Odds

There are three main types of betting odds: American, decimal, and fractional. American odds are represented by either a negative (-) or positive (+) number, which indicates the favorite and underdog, respectively. Decimal odds are shown as a single number that represents the total payout, including the original stake. Fractional odds are shown as two numbers separated by a slash, with the first number representing the potential winnings and the second representing the stake.

How to Read Betting Odds

To read betting odds, first identify the type of odds being used. Then, identify the favorite and underdog, if applicable. Finally, use the odds to calculate your potential winnings. For example, if the odds are +200 for the underdog and you bet $100, your potential winnings would be $200.

Calculating Your Winnings

To calculate your winnings, subtract the stake from the total payout. For example, if you bet $100 on a bet with odds of -110, your total payout would be $190, with $90 in winnings and your $100 stake returned.