Wagering on this outcome will get you a lower amount than your bet if you win. It is usually reserved for the favorite team, which has a higher chance of winning the game. If there is a (-) in front of the number/odds, the outcome is more likely to happen. As mentioned earlier, they are represented by + or – symbols which are very important.

So, knowing why the odds work together with how it works is instrumental to understanding your potential payout.Īmerican odds always rely on the base amount of $100. This is because it gives you an idea of what to expect by taking on a particular team. Understanding bet odds of betting lines is essential for an American bettor. Related: NBA Public Betting Guide How to read American Odds? They could be represented in the American way (+ or -), as a fraction(2/1), or as a decimal (2.0). These are the kind of outcomes a sportsbook tries to predict using odds. For instance, in a football game between the Patriots and Green Bay Packers, there are two likely outcomes:

Betting odds are figures compiled by sportsbooks to indicate what they feel is the probability of an outcome happening in an event.

How to calculate odds in sports betting