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What does mean in gambling odds

To properly understand sports betting, you need to understand odds. They are an integral part of any sports wager, and they are used to determine whether a wager is worth making or not. The potential payout of any wager you place is calculated using a combination of the relevant odds and your stake. Outside of gambling, chance is more commonly referred to in percentage terms. If you toss a coin then there is a 50% chance of it landing on heads and a 50% chance of tails. All possible outcomes in any event will add up to %. All sports betting odds are simply a method of indicating the bet's chance of winning. You can use our chance of winning calculator to see how the different types of odds represent this percentage. Alternatively, depending on where you live, you can utilise an odds converter to work out wagers in another format.

Sports Betting Odds: What Does -110 Mean?

Understanding Odds Odds are simply a reflection of the chance or probability of a certain outcome in an event. As you can see, understanding the in sports betting is pretty basic once you realize what it represents. May Learn how and when to remove this template message. If you lose any of those bets you would lose the dollar, or two dollars, or three dollars, or one hundred dollars. American odds are also known as lines or money line odds. Odds and probability can be expressed in prose via the prepositions to and in: Here is an example of a betting board with NBA lines:

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Betting Odds Explained

These included point spreads and totals. When betting these choices, you will almost always see listed with them. If you don't know what that means, don't worry - we're covering that today and it's not nearly as complicated as it looks. Whether you're brand new to betting, have placed some bets but have disregarded the , or live outside the United States and are unfamiliar with American odds, you'll be an expert in no time after reading.

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The listed is the actual odds given for these bets, and the odds determine how much you win based on the amount of your wager. This is why the odds are often called the price of a bet. For those that live outside the United States, this may look even more strange since is in American odds format. In Decimal odds, which is common in Europe, translates to 1. I'm not going to dive into Decimal odds or other formats since this article is about American odds, but the Decimal system is pretty straightforward.

The odds listed represent a bettor's total return for a winning wager as you simply multiply the odds by the amount you wish to risk. Spreads and totals odds may vary slightly from this number, but in general this is what you will see. For reduced juice sportsbooks like 5Dimes , you will see instead of , but the concept is still the same. You are given this back when you win, but is obviously kept by the house when you lose. As you can see, is shown next to each spread and totals bet.

This would definitely look confusing to someone that has never bet on sports, but now you know it is simply the price for each bet. To determine how much you will win on a bet, you can divide your bet amount by 1. For those not good at math, you can also do the reverse.

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Details

The most common type of sports betting odds used in North America are the American style odds which we explain below. There are a couple different versions of sports betting odds, but these American Odds are the most common odds used. Reading and understanding sports betting odds can bet a little confusing to beginners, so we have provided an example below using two NFL football teams:.

The number shown in the bracket represents the odds. The American Odds have two components to them, the first being the positive or negative sign, and the second being the number that follows the sign. The sign in front of the number indicates whether placing a wager on that outcome will pay out more money then you have wagered or less money then you have wagered. The next step is figuring out exactly how much the bet pays out, which is where the numbers in the odds come into play.

Again this can easily be converted into smaller or larger size bets. The great thing about betting online is that the online sportsbooks will do the calculations for you before you place your bet. You can click on the outcome or team you would like to bet on, and then input the amount you wish to wager and it will show you your potential pay out before you confirm your bet.

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Ready To Start Betting? You will also get a Free Money Bonus at each sportsbook if you follow either link above. Decimal style odds are used mostly in Europe, and are pretty easy to understand.

To calculate the decimal style odds all you will need to do is simply multiply the amount you wish to wager by the decimal odds shown and you will get your payout. For example it may look something like this:.

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