How To Read Esports Betting Odds
One of the perks of odds in sports and betting with online sportsbooks is that they calculate everything for you before you place your wager. In American betting, there are two components to the odds, a positive and a negative sign and the number that follows the sign. Positive odds reflect your profit, while negative odds reflect the amount of money you would need to bet in order to win $100.
Check out this page for more math behind the vig in sports betting. If you want to see how much you will win from taking this bet, then all you need to do is multiply the decimal odds by the amount you would like to wager. Then, take that total and subtract the wagered amount from it. Well, first you need to know that the higher the decimal odds, the more unlikely it is that the outcome will occur. So, comparing a team set at 1.61 to a team at 2.40, the first team is more likely to win. They show how much money you could win betting on that specific event and outcome.
This is why making a bet on a long shot early on can bring a potentially substantial payoff. At the beginning of the season, it isn’t entirely clear how well the team will do over the season, and so the odds are longer, offering higher rewards. If, over the course of the season, though, a team is showing that they’ve got a good chance of winning, the odds for them improve, the risk goes down, and the payoff gets smaller. Choosing exactly when to make this sort of bet is important.
” That’s where Compare.bet can help; we’ve taken it back to the basics to explain betting odds and how they work. In this example, the Los Angeles Lakers are the favorite, while the Warriors are the underdog. Now, if we want to calculate our winnings, let’s use the assumption that our bet is 100 dollars. If you bet $100 on the Warriors, you profit $210 over and above the initial stake of $100. If you bet $100 on the Lakers, you profit $40 over and above the initial stake of $100. So, to actually PROFIT $100 with the Lakers bet, you would need to wager $250.
With the money line you just have to hope your team wins rather than cover a point spread. Of course, the one downside is having to risk more money to return the same amount that a point spread bet would net you. Say the Bears are a six-point favorite over the Lions and the total is 42. To bet the Bears, you must “lay the points,” meaning they must win by seven or more to cover and give you the win. Betting the underdog Lions, you are “taking” six points, and they can lose by five or fewer, or win the game outright, and you have a winning bet. If the Bears win by exactly six, both sides “push” and all bets are returned.
The odds for each pick are multiplied by one another to determine the odds for the Parlay. For example, New England at -190 odds, parlayed with New York at +145 odds, would result in +275 odds. Even Money is a bet that returns as much profit as the initial wager was. For example, a bet of $100 with a $200 return ($100 profit). Of course there are sports with multiple competitors in a single event, like horse racing, Olympic events, and golf.