how to understand odds in sports betting

When you're trying to bet on sports, you'll see American odds everywhere.īut there are two different ways they're used: You can explore this concept further by using the BetMGM Bonus code to try it out. It might be easier to think in terms of dollars instead of $100's, so for every $1.30 risked on the Yankees in this game, you'd win $1, and for every $1 risked on the Red Sox, you'd win $1.20. So if you're betting the Red Sox at +120, you'll risk $100 and will win $120 if Boston wins the game (plus your original $100 back).

If You're Betting an Underdog: The odds for underdogs will have a plus (+) sign in front, and indicate the money you'll win for every $100 risked.So if you're betting on the Yankees at -130, you need to risk $130 and will win $100 if New York wins the game (plus your original $130 back).

If You're Betting a Favorite: The odds for favorites will have a minus (-) sign in front, and indicate the money you need to risk to win $100.It scales up and down depending on your bet amount. MoneylinesĪmerican odds are centered around winning or wagering $100 on a given bet, though you don't need to actually wager $100. Betting Odds, Explained Table of ContentsĢ.

How to understand odds in sports betting