Placing sports bets online involves navigating various odds and lines. For new punters, these numbers and terminology can be confusing.
In this comprehensive guide, we breakdown everything you need to know about betting odds and lines. You’ll learn key concepts like decimal, fractional and moneyline odds, negative and positive lines, spreads, totals, juice, and more. Let’s get started!
What are Betting Odds?
Betting odds represent the implied probability of an outcome happening and the potential returns from a winning bet. Bookmakers use odds to give each selection in a market a probability and to protect their interests.
When you see odds of 2.00 for Team A to win, it implies they have an estimated 50% chance. Odds of 1.50 (1/2) implies a 65% chance. The lower the number, the higher the implied probability by the bookmaker.
Formatting of Odds
Bookmakers display odds in different formats:
- Decimal (1.25): Very common in Europe. Shows your total returns from a winning 1 unit stake, including your original stake. Odds of 1.25 means for every 1 unit bet, you get 1.25 units back.
- Fractional (4/5): Popular in UK. Displays your profit relative to stake. Odds of 4/5 mean for every 5 units staked, profit is 4 units.
- Moneyline (-110): Used in North America. Moneyline odds show how much you need to stake to win $100 in profit. Negative lines indicate the favorite while positive lines denote underdogs.
Regardless of how they are displayed, lower odds indicate the bookmaker views that selection as more likely to happen. Higher odds imply an unlikely outcome.
What are Betting Lines?
Also referred to as spreads or handicaps, betting lines allow bookmakers to even out the chances between two unevenly matched teams. The spread is added to the weaker team’s score or subtracted from the stronger team.
- New England Patriots -7 vs New York Jets +7
- Golden State Warriors -11.5 vs Chicago Bulls +11.5
If you bet the Pats -7, they must win by over 7 points for your bet to cash. If you bet the Jets +7, they can lose by less than 7 or win outright for your bet to win.
A -7 spread suggests the Patriots are viewed as 7 points better than the Jets by the bookmaker. The spreads make it equally attractive to bet on both teams.
What is Juice or Vigorish?
Juice, or vigorish, refers to the commission bookmakers charge on each bet. It’s how they guarantee profit on the odds offered.
Typical juice is -110 odds on both sides. Bet $110 to win $100. The juice ensures the house gets $10 profit on losing $100 bets and just breaks even if the bet wins.
The key is betting only when there is value in the odds after juice to have an edge. Avoid bets where juice makes the odds unrealistic.
What are Totals or Over/Unders?
Totals involve betting whether the combined points scored by both teams will go over or under a given line set by the bookmaker.
Los Angeles Lakers vs Miami Heat Over/Under 211.5 points
If you bet the over, both teams must combine to score 212+ for your bet to cash. Bet the under, and 210 or fewer points hits.
Totals require properly judging how high or low scoring a matchup will be. Track stats like points per game and past head-to-head totals to make the best bets.
How Betting Lines and Odds Move
Lines and odds for events fluctuate constantly leading up to game time. Movement is based on:
- Injuries – Missing star players lower odds and spreads for a team.
- Public betting patterns – Bookmakers adjust to attract bets to the other side in order to level action.
- Sharps betting – Wiseguys with inside info can move lines if huge bets come in.
- Game importance – Lines expand for things like rivalries or playoff games.
- Weather reports – Inclement weather historically lowers scoring.
- Situational factors – Things like back-to-back games for one team.
It’s critical to pay attention to line movements. Ask yourself why odds and spreads are shifting in certain directions as gametime approaches.
Key Takeaways for Beginners
We’ve covered a lot! Here are the big lessons for newbie punters:
- Lower odds indicate the bookmaker views that selection as more likely to happen
- Betting lines allow bookies to balance the chances of both teams
- Juice/vigorish is the commission charged on all bets which guarantees profit for the bookmaker
- Spreads and totals allow you to bet on margins of victory and combined scoring
- Odds and lines constantly move based on various news and betting factors
Now you have a solid grasp of the core concepts behind betting odds and lines! This understanding will help you make informed wagers and beat the bookies.
As with anything, experience will further sharpen your skills. Don’t hesitate to review our guide regularly as you place real bets and see odds format examples across different sports.
You’re now equipped with expert knowledge of betting odds and lines. Time to put it into profitable action!