Sports Betting Odds 101

There are three basic types of sports betting odds that any bettor should be familiar with. Without this fundamental knowledge, the sports-betting world can be a mystery.

It’s important to have an understanding of sports betting odds if only because the World Wide Web/Internet has made it easy to set up an account and bet on games, contests and races from around the globe. While you may be familiar with how odds are set and presented in your home state or country, there can be some important differences when you choose to wager on a game or race from another nation. Not only do you need to decide where to play online casino but you need to know more about odds.

Not only do you need to understand fixed odds betting, you should be able to calculate betting odds for yourself, at least to the point that you understand how you can win or lose. The one basic similarity in all odds, whether from the U.S., Europe or another country, is that a list of betting odds is the way that bookmakers present the chance of winning.

Three Types

Most lessons on sports betting odds give three ways of showing odds to the bettor.

  • United States sportsbooks generally show the odds as a “+” or “-“ figure.
    The line is expressed as positive or a negative. If you see that the line on a game has a “+” before it, this is the amount that will be won on a $100 bet. If the figure is negative, you will have to bet this amount to win $100. Yankees: + 200, $100 to win $200; Red Sox:  – 150, $150 to win $100.
  • Odds presented in fractions are used in the United Kingdom and are also quite common in thoroughbred racing.
    Bet a dollar, pound, Euro or whatever. Put this money down at 2 to 1 odds and win, you win two dollars, two pounds, two Euros, and you get your original bet back.
  • You may see decimal odds.
    This method of presenting sports betting odds is often used in European countries, as well as in such countries as Canada and Australia. If decimal odds are 2.00 and you bet $10, you will receive $20 if your bet wins.

Here is a quick list of sports betting odds so that you can compare how these three types work. Assume we’re betting on a soccer game.

U.S. Odds Fractional Odds Decimal Odds

Team A       +250  5/2   3.50

Team B        -300  1/3   1.33