You must also know what the odds mean so you can calculate your bets especially when these betting odds change while a game is unfolding.
When making an online bet, it is important that you are able to read the various betting odds on offer.
Being able to read the betting odds enable you to know how much you win.
How to Read the Betting Odds
Let us share with you some of the most important helpful tips in reading the betting odds in online sports betting:
–Odds represent which team, player, horse, etc. has the highest probability of winning. Bookmakers will indicate how likely one result is in comparison to another. Betting Odds may change because circumstances change spontaneously.
The most common odd is found when betting on a sporting event or a particular football event.
–Whoever has the highest odds is considered as the favorite. If betting odds are low, hat event is not likely to happen.
–Lower odds return a higher profit. Betting on the underdog is riskier but you can hit it big if your bet wins. The longer the odds, the more money you can bring home
–Learn some common betting words like action (a bet of any kind or amount), bookie, someone who accepts bets and set the odds), hedging (placing bets on the team with the high odds, and the low odds, to lessen loss), Line (the current odds or point spreads on the game) and wager (the money you pay or risk on an outcome of a match).
–You must know that fractions greater than one men the team is an underdog.
–Money line bets only concern what team will win the match. Example, LA Lakers -135, Chicago Bulls -135. This means the Lakers are the favourites but will pay out less if a bet on them wins.
Positive betting odds tell how much profit you bring home per $100 bet. Example, if you bet $100 on the Lakers, who are valued at +135, then you win $235 if they win.
Know that negative betting odds indicate how much money you must spend to make $100. Example, when betting on the favourite, you take lesser risk and thus earn less. Example, in order to make $100 for the Lakers, you need to spend $135.
–Point spreads adjust the score for the favorite team. For example, if the Miami Heat are playing the Phoenix Suns and the Suns are favored to win by a 4-point spread, then a bet on the Heat only pays out if the Heat wins by more than 4 points. A bet on the Heat pays out if the Heat wins or they lose by less than 4 points.
It is called a “push’’ when bets are refunded if the favourite wins by the spread exactly. If you see “half-odds’’ (a 3.5-point spread for example), this is to make a “push’’ impossible.
–Know the over/under type of betting. This is when you bet on the combined score of both teams. Sportsbooks set the betting odds and you must choose if the combined score will be higher or lower than the mark they set.
If the over/under is set at 188.5 points and you bet over, then any combined score from 189 points and up will give you the win. If the total score is exactly what the sportsbooks set, the bet is considered a push and you get your money back.
Most dividends for Over/Under bets are even. Example, if you bet $200, you win $200. Contact your sportsbook for more details.
In many cases, learning to read the betting odds is key to a successful online sports betting.
It is important that you have a good grasp of the betting odds and the probabilities they imply.
We hope to have given you some useful information on how to read the various betting odds. Good luck!