Betting Odds Explained The Complete Beginners’ Guide

In America, fractional odds are most commonly used in futures betting, where almost all the odds have a denominator of 1, making them easier to understand. The phrase ‘3 to 1’ is simply how we pronounce the fractional odds of 3/1 in spoken communication. This means that you’ll make £3 in profit for every £1 staked if your bet wins. Similarly, the phrase ‘11 to 8’ would refer to fractional odds of 11/8. Betting odds work by providing information about the expected profit for a given or assumed stake. For example, fractional odds of 8/13 tell you that you’ll make £8 in profit for every £13 that you stake if your bet wins.

The bottom number shows how many times they expect it to succeed. Betting odds matter because they tell you how much you could potentially win on a particular wager. Learn how to read odds, including Vegas correctly and you will be able to calculate what your exact return will be if your bet is correct. Betting odds are a measure of how likely or unlikely a sportsbook finds an event to be. The more likely an outcome is, the less you can make wagering on that outcome.

How To Read Fractional Odds?

Comparing the implied probability to your own assessment of the likelihood of an outcome can help you identify value bets in the market. Fractional odds, commonly used in the UK, are represented as fractions. The first number indicates the potential profit, while the second number represents the stake required. We’ve prepared specific scenarios, examples, and explanations to help you understand betting odds better.

Nobody wants to guess blindly when it comes to sports betting. With a solid understanding of how odds work, you can start making informed choices, spot value bets, and even enjoy following sports betting news more deeply. When you have learned how to understand betting odds, as detailed in this guide, you’ll find it quite easy to read them. Of course, becoming a fluent reader of betting odds is something that takes a little time and practice. The next is to develop confidence in your ability to read, use and work with betting odds in daily life.

What About Different Sized Bets?

• Both teams will have “-” odds with point spread wagers, but the point spread will be notated with +7 or -7.
• You may find that your favourite online betting site presents the odds exactly how you likely them to be.
• Nobody wants to guess blindly when it comes to sports betting.
• This is known as fractional odds, with the first number denoting the profit and the second number referring to the stake.
• During Super Bowl LIX, some sportsbooks were offering heads at -105 and tails at -105.
• For example, odds of -125 means that you’ll make a profit of £100 for every £125 staked.

Anyone who wants to wager well must comprehend these popular bet types. Knowing what you’re betting on and why gives you the advantage, whether you’re sweating a multi-leg parlay or supporting a favorite on the moneyline. After dissecting each of the main odds formats, let’s examine how odds represent chance in more detail and how knowing this may help you identify value roobet in your wagers.

Let’s break down the above formula with a real example so you can confidently calculate your potential returns before placing a bet. When Las Vegas sportsbooks set odds, and this is what is referred to as Vegas odds. Although they strike more frequently, shorter odds (such as -200 or 1.40) pay less. You can better understand the risk and return of each wager by learning how to read the odds. These odds are often used in horse racing and soccer, but you may also find them offered on big US games.

Understanding Odds

For example, you’re interested in betting on the Eagles, but you saw news early in the week that quarterback Jalen Hurts was dealing with a hamstring injury. You’re not sure how this injury will manifest as the week goes on or if he’ll miss time. The Flyers and Penguins are playing, and the total is 6.5 goals. Like baseball and other totals wagers, the odds are almost always at or around -110.

American odds can also be shown as a positive or negative figure, which adds complication. If the number is negative, for example, -145 rather than +130, they are favourites and expected to win, resulting in a smaller payout. If the price shown is 3/1, it means £1 stake will result in £3 winnings, plus the initial stake. The number on the right side of the fraction is the stake needed to win the number on the left side. American odds, or Moneyline odds as they are also called, are shown in a positive or negative number. A positive number shows how much you might profit if you bet £100.

The second difference between the formats is that fractional odds only represent winnings, and do not include the returned stake compared to decimals which do include the stake. The transition from fractional odds to decimals largely kicked off with the growing popularity of betting exchanges such as Betfair. 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. A moneyline is one of the simplest kinds of betting odds explained in this guide.

One way isn’t better than the other but there is certainly a trend emerging towards using decimal odds. Traditionally, fractional odds have been used in the UK, especially at racecourses and on the high street. The negative odds indicate the team favored to win within a matchup. The positive odds depict the underdog and the team which is less likely to win. Fractional odds are mostly used in the UK and Ireland and are often referred to as traditional odds.

If the true odds are 4/1, it could see 9/2 be offered instead. This slightly reduced the payout but increased the bookmaker’s edge. These are the most commonly used odds in the UK and the ones bettors can expect to regularly come across. In short, they display the odds of something happening in the form of a fraction.

Our sports betting expert breakdown what betting odds are, how to read them and how to get the best prices in 2025. You can alter the way odds are displayed at most online sportsbooks in the United States. Because they were only slight underdogs on the moneyline, the puck line odds here are -170, indicating that the sportsbook thinks the Flyers will lose, but only by one goal. If the final score was 4-3 with the Flyers losing, the wager results in a win. As the favored team, the 76ers are -3 on the point spread and -110 on the odds. Many markets for PA sports betting are available for the NBA, but the three most common are point spreads, moneyline, and totals.