Moneyline Bets Explained

Calculating your payout requires simple multiplication just like using decimal odds. The easiest way to understand fractional odds is the numerator is the profit while the denominator is your wager. If the numerator is larger, the profit will be more than your wager.

You only need to consider the possibility of a push when betting against the spread or placing a totals bet. The implied probabilities of both outcomes added together is going to be greater than 100% regardless of the odds format. Implied probability is useful because if your estimate of the probability of an event occurring is different than a sportsbook’s you can and should adjust your bet accordingly. Therefore, if you wager $40 on Pittsburgh, you will win $30.77, and your payout would be $70.77 .

While straight bets using a point spread are most popular for high scoring sports like football and basketball, money line bets are available as well. Straight bets are used to even out the odds, offering 11/10 odds on any team you choose. With money line bets, there is no point spread and your goal is to simply pick the winning team.

If Texas happens to win by six points, both your bets cash in. Texas winning by either five or seven gives you a win and a push. Any other result creates a win and a loss, so you’re only risking the vigorish. The first time you glance at the odds can be somewhat daunting. If the odds on a tennis player said +150, that means that for a $100 bet, you would win $150.

Negative (-) means how much is needed to wager in order to win $100, and positive (+) means how much can be won on a $100 wager. The Arizona Diamondbacks are the underdog, and a wager of $100 will produce a profit of $140, for a total payout of $240. We hope this short beginner’s guide to understanding and interpreting odds will give you the confidence to get out there and start making winning bets.

Understanding betting odds allows you to pick between good and bad odds. Data from more than 1,700 bets was used to generate each sportsbook’s comparative odds ranking for our 2021 annual review. It may take some time to understand odds and lines but don’t worry, it becomes second nature really quickly.

Point spread outcomes will most often pay this amount because the professional bookmakers are very good at predicting who will win any given game and by how many points. In doing so they are essentially making the point spread wager one that is as close to equal for both sides as possible. When you see a -110 line, you can consider it similar to an even money outcome, like a coin flip. The number next to the minus sign is the amount you must bet to win $100 in profit. Below is an example of NFL betting odds taken from an online betting site.