Understanding how to read sports betting odds is vital to becoming a successful player. When you know how to read odds, it is easier to determine how much money to wager and the betting option that offers the best value.
When it comes to sports betting odds, there are three types. They are American, Fractional, and Decimal. They indicate the probability of the outcome and how much money you could win when wagering on that result.
However, it would be best if you didn’t rely on odds alone when you bet on volleyball and any other sport. Several factors influence the odds. Also, they are more relevant to the result of the event. The sportsbook can also manipulate the odds to move action to a specific side. Thus, the total of the probabilities is more than 100 percent because the bookie takes a cut with every bet.
Read Sports Betting Odds
Odds show how much the sportsbook charge for accepting wagers. Players refer to the amount as cut, vig, or juice.
American sports betting odds usually are three-digit numbers with a + or – sign before it. The positive or negative sign shows whether it is the favorite or underdog. Also, the negative sign shows how much you need to wager to win $100.
If you are betting on the underdog, the number is positive. Also, the number shows the money you’ll get if you wager $100.
Decimal sports betting odds are the easiest to understand. For instance:
Team A 2.40
Team B 1.61
Calculating the payout for decimal odds is simple. You multiply the bet amount by the odds you are wagering on. To determine the winnings, you only need to subtract the original wager amount.
If you wagered $100 on Team A, the winnings would be:
(100 x 2.40) – 100 = $140
On the other hand, betting $100 on Team B will get you:
(100 x 1.61) – 100 = $61
Lastly, we have fractional odds. You often see these in UK sportsbooks or when reading horse races articles. According to sports news coverage sources, the odds of 9/5 means it will take nine times the sportsbook expects the predicted to fail. The five means the number of times the result will succeed.
Also, computing the winnings is simple. You only need to multiply your wager with the fractional odds. Thus, when you wagered $100 on a 9/5 odds, you’ll get:
100 x (9/5) = $180
These are the things to remember when reading sports betting odds. Knowing how to read odds will help you make smarter betting decisions over time.