If you’re a newbie in sports betting, sportsbook odds can be really intimidating. But don’t worry, this guide will simplify it for you, step by step. To read odds like a pro, it just takes a little time and practice. Betting should be plain and exciting on platforms like SpinPinoy, so now let us take a look on what sportsbook odds are.
What Are Sportsbook Odds?
Sportsbook odds are numbers that reflect the likelihood of an event occurring, and how much money you can win by betting on it. The three main formats for displaying odds are decimal, fractional, and American. Although they may look different, they give the same information.
Why Are Odds Important?
But odds — and the information they provide — are really important, as they help you figure out the best spots to put your money. They take you on how much you could win, and point to the likelihood of an outcome. And as anyone who bets knows, whether it’s on football, basketball, or tennis, learning how to understand odds is the key to making wise bets.
Types of Sportsbook Odds
Decimal Odds
Decimal odds are the simplest of the three. They include your original bet and show total payout per dollar wagered. For instance, if the odds is 2.00 and your stake is $10, your payout will be $20 ($10 x 2.00).
Fractional Odds
Fractional odds are mostly used in the UK. They display how much you could win based on your wager. For example, odds of 5/1 signify that you will win $5 in addition to your original wager for every $1 you wager.
American Odds
American odds are used by the US bookies and can be either positive or negative. Positive odds (+200) indicate profit on a $100 bet. Negative odds (-150) tell you how much you need to bet to win $100.
How to Calculate Winnings
Example 1: Decimal Odds
If odds are 3.50 and you wager $20:
Payout in total = $20 x 3.50 = $70
Profit = $70 – $20 = $50
Example 2: Fractional Odds
Assuming the odds are at 4/1 and you put down $10:
Profit = $10 x 4 = $40
Payout in total = $40 + $10 = $50
Example 3: American Odds
If the odds are +250 and you place a $30 bet:
Profit = $30 x 2.5 = $75
Total payout => $75 + $30 = $105
For example, you can change the odds you registered earlier.
Profit = $50 / 2 = $25
Net payout = $25 + $50 = $75
How to Gain a Grasp on Odds
Do Your Research
You are betting without knowledge of which teams, players or events you are betting on. As the saying goes, knowledge is power.
Compare Odds
Odds vary from sportsbook to sportsbook. Look for the best price — sites like SpinPinoy offer competitive odds.
Start Small
If you’re new to this, start with low stakes. It allows you to learn without risk of losing too much money.
How Odds Are Set
Sportsbooks set the lines based on a multitude of factors including team performance, injuries and betting public perception. They seek to even out the bets on either side so that they make money no matter which side wins.
What Are Over/Under Odds?
Over/under bets deal with the cumulative score of a game. As if the line is set 50 points:
“Over” means you believe the combined score will exceed 50.
If you’re betting “under,” you believe the score will be lower.
Moneyline Bets
Moneyline bets are the most straightforward bet of all. You’re simply choosing the victor. For example:
Team A: -150
Team B: +200
If you place a $100 bet on Team B, and they win, your profit will be $200.
Spread Betting
Spread betting makes it even for the teams. For example:
Team A: -7
Team B: +7
When, instead, you place a bet on Team A, they must win by more than 7 points. If you wagered on Team B, they have to win the game or lose by less than 7 points for you to win.
Live Betting
During the game you can place bets with a technique called live betting. This is an exciting way to alter strategy in real time how you see fit.” We’ll take a look at SpinPinoy both statistics and odds — platforms that offer betting technology — and options such as live betting.
Responsible Betting
Set a Budget
Just bet what you can afford to lose. Prevent overspending by setting boundaries.
Know When to Stop
If you’re losing, stop for a while. Pursuing losses can cause more trouble.
Use Trusted Sites
Use Reliable platforms such as SpinPinoy for safer betting.
Conclusion
To make good bets and to enjoy your betting experience, you must understand how sportsbook odds work. They can be fun, and you may even win! Just learn the basics and bet responsibly. Whether you’re betting on your favorite team or trying out new sports, knowledge is your greatest friend. Decide, play on SpinPinoy, and have it with the thrilling adventure of sportsbook odds!
