Betting Odds Explained: How to Read Odds in 2025

Let’s say Shai Gilgeous-Alexander’s points prop for an upcoming Oklahoma City Thunder game was 30.5, with Over 30.5 at -120 and Under 30.5 at +100. A $100 bettor who wants the Over would need Gilgeous-Alexander to score 31 or more points for a $183.33 return ($100 initial stake plus $83.33 profit if the bet hits). Conversely, a $100 bet on the Under would pay out $200 ($100 initial stake plus $100 profit) if he scores 30 or fewer points. During Super Bowl LIX, some sportsbooks were offering heads at -105 and tails at -105.

Betting odds come in a few formats, which each dominate in different parts of the world. All of our content is created by informed writers with backgrounds in their subject area and reviewed for omissions or mistakes. The Steelers now need to win by three or more and have the same odds as opposed to needing to win by four or more to avoid a push. Another option that’s not reliant on waiting for injury news is to understand what odds could mean as they change. With totals, you can expect to see odds around -110 on both sides. This is the case here, as the over is -110, and the under is too.

• With fractional odds, any time the numerator is larger than the denominator, it’s a “+” wager.
• They represent the potential payout for every unit staked, including the original stake.
• Knowing how to calculate potential payouts using betting odds is essential for managing your bankroll and setting realistic expectations.

By understanding odds, you can gauge the probability of an event occurring and thus, make strategic wagers based on your analysis. Whether you’re a recreational bettor or a serious gambler, grasping the concept of odds is fundamental to enhancing your betting experience and increasing your chances of winning. Sports betting has become increasingly popular, with millions participating in predicting the outcome of events. Odds, which are numerical values of the likelihood of various outcomes, are at the forefront of betting.

Meanwhile, Notre Dame was the underdog, and anyone betting on the Irish would win $310 on a $100 bet (or $3.10 for every $1 for smaller bets). If you bet $100 at +200, you would win $200 profit if your bet succeeds, plus get back your original $100 stake — for a total payout of $300. If you bet $100 on Team B, you stand to win $130 profit ($230 total return) if Team B pulls off the upset.

In this section, we will provide a guide on how to convert decimal odds to fractional odds, fractional odds to decimal odds, decimal odds to moneyline odds and vice versa. By mastering these conversions, you can easily compare odds and make informed decisions across different sportsbooks and betting sites. Sports betting odds serve as the numerical representation of a team or player’s chances of winning or losing a game, match or event. They play a pivotal role in guiding your betting decisions, as they not only reflect the potential payout but also hint at the implied probability of an outcome. By comprehending the different odds formats and learning how to interpret them, you can make more informed choices and maximize your potential returns.

With +300, the plus sign and the 300 mean that bettors would wager $100 to win $300 (or $20 to win $60 or any equivalent). Odds change when a sportsbook needs to adjust the price of a betting market. It can be due to injury news, weather information, sharp money coming in on a specific wager or other factors.

Bookies manipulate their odds to guarantee themselves profits (more on that later), often resulting in a skewed set of odds for many events. Even for those of us who’ve never visited a betting shop, racecourse, or bookie website, betting odds will crop up on the news or in general discussion. We’ve all encountered betting odds in life at least occasionally.

The only way odds can be “better” than one another is if the wager wins. So, if you see odds of 2.50 and want to wager $10, this would be $25 as 10 multiplied by 2.5 is $25, or $15 in profit. The “-” odds indicate the favorite or the more likely outcome, whereas “+” suggests the underdog or the less likely outcome.

This means that these odds are very good for players because they are close and have players considering to take the upset over the favorite sometimes. Next, we come to what may be the most common type of sports betting odds, which is the point spread. They put point spreads up for all of the main sports such as football, basketball, hockey, baseball, and others. This is called “The Spread” and it basically tells you which team is favored and by how much.

Regulatory Landscape and Safe Betting

Understanding market demand and its effects on odds can help you identify potential opportunities and trends. In the sections below, we will provide a comprehensive overview of how betting odds function and influence your betting decisions. Understanding the mechanics behind betting odds is crucial for becoming a more astute bettor.

It’s important to have an understanding of different types of odds because it means that you can choose from sites worldwide, some of which may display their odds in just one format. Plus, it will help you to avoid making silly mistakes like placing big bets pinup on events that actually have bad odds. Odds are you’ll find one of the three different ways of listing odds explained above easier to understand than the others.

Market Demand

Bettors place wagers on the various outcomes they believe are likely to happen. The amount of money placed on each outcome affects the odds’ movement. Bookmakers aim to balance their books by adjusting the odds to attract betting on underrepresented outcomes. Welcome to our comprehensive guide on understanding sports betting odds. There are many betting odds calculators online to convert your decimal odds to fractional or moneyline odds to make it clearer and concise. Aceodds are among the websites who also offer a free odds calculator online.

These bets can be found for any sport, but are most common in low-scoring games like baseball, hockey, or soccer. The decimal shows how much profit is paid for every dollar on a correct bet. Favorites have a lower number, while underdogs have a higher number. For example, if the Patriots are given 1/2 odds, the bookie predicts they will win the game two times out of three.

Understanding moneyline odds is crucial for bettors in North American markets. Converting types of odds between formats is an essential skill for bettors who use various betting platforms. Although odds may be displayed differently, their underlying probabilities remain the same.

Track all bets across platforms, analyzing performance by sport, bet type, and sportsbook to identify strengths and weaknesses. These markets often carry higher vigs due to uncertainty and lower liquidity, but they provide unique opportunities for knowledgeable bettors. Vigorish (vig/juice) represents the sportsbook’s commission, varying significantly across global markets. Understanding these differences helps identify value opportunities.

Odds are set by bookmakers, and they’re a mathematical way of expressing the implied probability that a team, athlete, etc. will achieve a certain outcome. A negative number in American odds indicate that the team, athlete, etc. is favored to win that bet, and therefore, a bet on them would not pay out as high as a bet on the underdog to win. American odds are displayed in terms of winnings based on $100 bet, so a $100 bet on a team set at +100 would pay $100. The standard format for printing betting odds varies depending on the sport. Football will most often be displayed with American odds, while soccer is more likely to show fractional odds. However, on most American sports betting websites, you’ll have the option to display these odds in several formats, with American being default.

Modern bettors navigate multiple platforms, making conversion skills essential. Whether moving from Bet365’s decimals to DraftKings’ American system, or comparing William Hill’s fractions with international alternatives, these conversions unlock betting opportunities. The platform’s mobile app serves over 35 million customers worldwide, with odds formatting that adapts to regional preferences while maintaining consistency across markets. If you see one side climb to -120, this could suggest a potential alteration to the point spread coming as one side is being wagered on more than the other. Below are the top three strategies I recommend using when reading betting odds. NFL betting odds are essentially the same as the NBA, but I’ll run through some quick examples using the Eagles and Steelers.

The great thing about sports is nothing is guaranteed and upsets are often happening so taking an upset sometimes could be very beneficial on MyBookie. Slight favored could mean to put a lot more money down and lead players to win more. There is no doubt that BetOnline has a lot of players that have accounts with them. There are many reasons for that and this list of players will continue to grow and will for the right reason.

For example, to break even betting -110 odds, a bettor needs to win 52.4% of his bets. There’s always luck and chance involved in sports betting, but understanding how to read odds helps you make an informed bet. If you believe an outcome is more likely than the implied probability, you have an optimal chance of winning a return on your wager. Value betting involves identifying bets where the probability of an outcome is higher than the odds imply. If you believe a team has a 60% chance of winning, but the odds suggest only a 50% chance, this represents a value bet. There can also be value in looking at different odds with different sports betting sites.

The higher the odds, the more a bettor will get if they win their bet, while lower odds will result in a much more modest return. For example, if a game has a house edge of 5%, the RTP would be 95%. Although the house edge ultimately works in favour of the casinos or sportsbooks, RTP works in favour of the players. The two are inversely related, meaning that as one increases the other consequently decreases. A plus sign means the team or player is an underdog (less likely to win), but with a higher payout if they do.