Betting Odds Explained
When betting with an Internet betting site, one typically gets or gives odds in one form or another. In most bets, odds are set for the match so that bettors are enticed to wager on both sides. Most match ups are not dead even. Thus, odds of some form are issued so that one could be enticed to bet on the underdog – which helps even out the marketplace for both sides of the bet.
Money Line Odds
For sports betting, odds can be expressed in a few different ways. One way of expressing odds is through what is known as the money line. The money line odds are expressed with positive and negative numbers. This is the traditional means for expressing odds in the USA for sports bets, similar to money line betting in football. When looking at the money line bets, the bet typically lists like the following example:
Anderson Silva -600
Demian Maia +400
To read this listing, the competitors for this fight are Anderson Silva and Demian Maia. Notice Silva is listed at -600 odds and Maia is at +400 odds. In money line betting, when a competitor has negative odds, it is indicated by a minus sign in front of the odds. Negative odds imply the amount of money that must be wagered or risked in order to win $100. Thus, one must put up, bet, or risk $600 in order to win $100 if betting on Silva in this match up. Likewise, a $1200 bet on a Silva win would realize $200 profit if Silva pulls off the win.
On the flip side, Maia reflects positive odds. Positive odds are reflected by a plus sign before the odds listing. In betting, positive odds show the amount of money to be won on a $100 bet. This means that if Maia pulls off the upset victory, bets on him will return $400 per $100 wagered. Thus, a $200 bet on Maia to win will return $800 if Maia is successful in the match up.
Fractional Odds
In addition to being expressed numerically in the money line, betting odds can be expressed fractionally. The same fight expressed fractionally would look similar to the following line:
Anderson Silva 1/6
Demian Maia 4/1
Fractional odds work similar to US money line odds. The fraction odds reflect the amount of money to be won on a bet. In this sample fractional betting line, bets on Silva return one dollar for every $6 wagered, while bets on Maia return $4 for every dollar wagered. Fractional odds are commonly found and listed in the UK.
Decimal Odds
Another way to express betting odds is by listing them in decimals. When interpreting decimal odds, odds of a 2.0 are considered even money bets. The same match listed via decimal odds looks like the following line:
Anderson Silva 1.17
Demian Maia 5.00
The equivalent of an even money bet on a fractional bet listing would be 1/1, and the US listing would be +100. To find the payout for decimal odds when the decimal is greater than 2, simply multiply 100 times the decimal minus one – 100*(x-1). However, if the decimal odds is less than two, divide 100 by the decimal minus one – 100/(x-1). From there, you can calculate your payouts based on the US money line. Decimal odds listings are commonly found in European countries.
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