How do betting odds work?

If for example this was a coin toss where would always be a 50% even chance. If the punter won five times out of ten, the bookmaker would be even at the end of the day, with no profit. However, if the bookmaker was making money on the coin toss by putting odds which total to a percentage of more than 100% (in the above case 102.6) they would have made a profit from five equal flips of the coin. This is known as the ‘juice’ or the ‘vigorish’ or ‘edge’. If the punter played £10 on each of the ten coin tosses and won five at odds of 1.9 they would have made a £9 profit from each bet for a total of £45. What is the meaning of odd in betting The difference between moneyline and point spread bettting is straightforward: moneyline bets involve choosing a winner but with varying odds for each side, a spread bet involves choosing the team that wins with the advantage or disadvantage of laying or getting points.

How to Find the Best Line The moneyline Prior to understanding the idea of line movement, it is best to begin by fully understanding betting lines in general. A betting line could be a number of different things such as a moneyline, over/under, prop bets, point spread, etc. All of these have the potential for movement prior to the game starting and all could equally offer advantages for sharp bettors.

A moneyline pays out based of $100: If you bet the favorite, the odds indicate how much you must bet to win $100; if you bet the underdog, the odds indicate how much you would win on a $100 bet. The total payout would be the initial stake plus your profit. HOW BETTING ODDS WORK In the ‘Odd/Even Goals’ betting market, there are two options for you to pick from. First, you have ‘Odd Goals’, which refers to bets on there being an uneven number of goals in a football match. This means that bets on ‘Odd Goals’ will win if there are exactly 3, 5, 7, etc, goals within a normal game. Scorelines that would win in this scenario include the following:

All you want to do is make a simple bet but all you can see are an assortment of team names with numbers next to them, all of which, for some reason, are 110 or higher. Some of these numbers have the plus symbol in front of them and others have minuses. At first glance, it can be pretty intimidating and you wouldn’t be the first person to give up right then and there. Reading Odds at the Horse Track Determining your payout with decimal odds is straightforward: simply multiply your wager by the odds associated with the team you are betting on. To calculate a winning bet, subtract the original wager from the payout. Let’s take a look: