Explaining The Odds
Similar to player props, team props are team-specific bets not pertaining to the over/under or spread. Examples are the winner of the tip-off and who leads the game after a specified amount of time. Team props usually will have odds similar to those from the spread or over/under. Player props are bets in which you bet on specific players instead of teams. Player props can come in all different forms such as how many points a player scores, the first scorer, and whether that player records a certain stat.
” That’s where Compare.bet can help; we’ve taken it back to the basics to explain betting odds and how they work. When moneyline odds are positive, the figure indicates how much money will be won on a $100 wager . For example, a net payout of 4/1 would be quoted as +400. The use of odds in gambling facilitates betting on events where the relative probabilities of outcomes varied. For example, on a coin toss or a match race between two evenly matched horses, it is reasonable for two people to wager level stakes. Armed with this new knowledge, you are ready to take on the world of sportsbooks.
It is not uncommon to encounter different odds for one and the same event with various sportsbooks. For instance, some of top online bookmakers may display odds of 2.30 for a team to win a game; and others may offer odds of 2.20 for the same team to win. Now, this is another important aspect of understanding betting odds.
Therefore, Jones is a -600 favorite and to win $100 on him, you must bet $600. He is the underdog, meaning you stand to win more than you bet. Like in boxing, a draw leads to all bettors receiving their bet amount back, unless a draw is an option you can bet, in which case all bets on the fighters lose.
In this instance, you would receive a $150 payout plus your original investment back ($250 total). It’s worth noting that you absolutely do not have to bet $100. It’s the baseline way to present these odds, although the same math applies to a bet of any size.
This increases the potential payout for each wager, but also comes with an added risk. If even one of your bets is incorrect, you lose the entire parlay wager. The potential winnings are greater when betting on Alvarez, the “underdog” in this fight. Betting on underdogs in any sport typically allows you to risk less in order to win more. Remember, however, that there’s a reason they are the underdog, whether it’s a rookie season, there’s been a recent injury, or they face serious competition.