Sports Betting Odds Explained

The most important thing to know before you start betting on sports is how the odds work.

A big advantage of using Yower Online is that you can bet on sporting events taking place anywhere in the world. So lets familiarize everyone with the different kinds of odds for which events might be displayed in..

All sports betting odds are simply a method of indicating the bet's chance of winning.

There are three different way that sports betting odds can be displayed.

• American Odds (eg +110)
• Fractional/UK Odds (eg 12/5)
• Decimal/European Odds (eg 3.40)

American sports betting odds work differently for favorites and underdogs, and are sometimes known as Moneyline Odds.

American odds for betting on a favorite work by showing how much money you would have to risk in order to win $100. If the odds offered on a particular event result are -110, it means that in order to 'win' $100 you would need to bet $110.

For example, your NFL team is the favorite and are paying -110 to win their game this weekend. If you placed a $110 bet on them and they win, you would receive $100 winnings, plus get your original $110 back for a total of a $210 payout.

The American odds for betting on an underdog work by showing how much you would win if you risk $100. If the odds offered on a particular event result are +240, it means that in order to 'win' $240 you would need to bet $100.

So if your team is an underdog in their upcoming game, and the sportsbook is offering odds of +240, it means that if you bet $100 on them to win the game you would get the following back when they win - Your original bet of $100 plus $240 winnings for a total collect of $340.

If you see the letters PK alongside the odds offered on a game, it means that there is no favorite and you should "Pick" the winner of the game without any points spread.

Fractional Odds are popular in the United Kingdom and are also often used in horse racing. Fractional odds can also be referred to as British Odds, UK Odds or Traditional Odds.

Fractional odds quote the net total that will be paid out to the bettor, should they win, relative to their stake.

For example odds of 5/1 imply that the bettor stands to make £100 on a bet of £20. If the odds are 1/5 the better will make £4 from a £20 stake. The bettor will also always receive their stake back, so a successful bet of £20 at 5/1 will actually pay out £120 - which is £100 plus the return of the original £20 bet.

The way to anounce fractional odds of 5/1 is to say 'five-to-one'. The way to say 1/5 is 'one-to-five' or 'five-to-one on'.

Decimal Odds are most popular in Europe, Australia and Canada, and in our opinion are the easiest to understand. These odds will be displayed in decimal fashion. They are sometimes known as European Odds in the UK.

Decimal odds are different from fractional odds in that the bettor must first part with their stake in order to make a bet. The figure quoted is the exact amount that will be paid out if the bet is a winner. Decimal odds are essentially equivalent to the decimal value of the fractional odds, plus one.

We think this is the easiest type of odds display to understand and use as you never have to calculate the return of your stake or worry about multiples of $100. You simply multiply the value of your bet by the decimal odds value and you will have the amount of money you will collect as a winner.

For example, if the decimal odds are 2.00 and you bet $100, you will receive $200 in total if your bet wins. (2.00 x $100).

American, Fractional and Decimal Odds Comparison

Here's an example of how the same odds for an event like the classic 2008 Superbowl would have been displayed in each of the different types of odds formats.

So in that example, how much profit would you have made if you bet $100 on the underdog Giants to win? $250 profit is your answer!

Choosing your odds display format; American or fractional odds, as well as decimal odds are available at Yower Online.

Sports Betting Lines Explained

Now that you are familiar with sports betting odds, lets explain the different types of lines you can bet on in the Yower Sportsbook. Point spreads, moneylines, and totals are generally associated with in-season sporting events and can be combined in several wager types, whereas props and futures are always single wagers.

Point Spreads

The point spread (runline in baseball) is the handicap, or head start, that the linesmaker gives to the underdog. Rather than just winning outright, the favorite must win by more than the point spread ("cover the spread") for bets on the favorite to win.

Let's say the Dallas Cowboys are playing the Minnesota Vikings in the NFL. All signs point to the Cowboys being the favorite and the Vikings being the underdog. The linesmaker might decide to give the Vikings a four-point head start, which would look like this:

Cowboys-4
Vikings +4

If you bet on the Cowboys, you'll win your bet if they win the game by more than four points (i.e., if their score is higher even after you subtract four points from it). If you bet on the Vikings, however, you'll win your bet if they lose by no more than three points (i.e., if their score is higher after you add four points to it). If the point adjustment results in a tie (in this example, if the Cowboys win by exactly four points), the wager will be graded "Push" and your money will be refunded. How much you stand to win is determined by the moneyline odds attached to the point spread. When no odds are listed, the line is standard (i.e., -110).

Moneylines

When you make a moneyline wager, you're betting on the outright winner of the event, without taking the point spread into consideration. There are still favorites and underdogs, but instead of being handicapped or assisted by head starts, the competitors are given odds to win the game or event.

Let's return to the NFL game where the Dallas Cowboys are favorites against the Minnesota Vikings. The odds might look like this:

Cowboys -150
Vikings +130

If you bet on the Cowboys, you'll have to risk $150 to win $100 (or any other variation like $75 to win $50 or $300 to win $200). If you bet on the Vikings, however, you stand to win $130 for every $100 you wager. If the final score of the game is tied, the wager will be graded "Push" and your money will be refunded.

Totals

The total is the combined scores of both teams involved in an event. Rather than betting on which team will win the event, you can bet on whether the game will go over (o) or under (u) the specified amount - which is why this type of line is also known as an over/under.

For example, suppose the total for the game between the Dallas Cowboys and the Minnesota Vikings is listed as 46. If the Cowboys end up winning 27-20, the final combined score is 47. If you bet over, you would win. If the final combined score matches the total (in this example, if the combined score is exactly 46), the wager will be graded "Push" and your money will be refunded. Again, how much you stand to win is determined by the moneyline odds attached to the over or under.

You are now ready for the Advanced Course, sharpen your pencils...