Sports betting payouts explained

Read and learn more how to bet on NFL Football. This is how sportsbooks discourage bettors from betting a large amount on the favorite. For example, let's say the Browns are in the Super Bowl and they're projected to win and they have odds of On the other hand, this juice or vig could also encourage bettors to bet more if the plus side is higher.

It's not super hard to understand but you'll want to make sure you're looking at the odds correctly to ensure you're not going to lose a bunch of money! Round Robin Betting Guide. American Odds are also known as moneyline bets. With this betting type, you'll see odds that have a plus sign or minus sign. The team that isn't favored to win has a minus sign and the favorite has a plus sign.

The next thing we'll do is show you how to read these odds. It's relatively easy to understand and you just have to remember what the plus and minus signs mean. Calculating Payouts The way that odds are calculated will depend on the type of bet being placed. There are three main types of bets, which are moneyline, decimal odds, and fractional odds. Moneyline odds are the plus and minus bets that we talked about earlier, so we're going to focus on decimal and fractional odds in this section.

Decimal odds are most commonly in Europe, Australia, and Canada. They are the easiest to understand and are relatively straightforward. They are usually just one number that goes to two decimal spaces. Spread Betting Guide from Lines. For example, you might see that the Browns have decimal odds of 1.

Fractional odds are most common in the United Kingdom and is the betting type that can be a little difficult to understand. To calculate the potential amount you could win, you have to make sure you add in your original wager. This fraction means that you can win three stakes for every one stake. This means you'll get six stakes for every four stakes wagered.

These fractions are also called odds against and are similar to the plus number in a Moneyline bet. Once you know what it equals out to, you'll be able to calculate using the method above. Calculating Implied Probability Implied probability can be a little difficult to understand and it takes some math to figure things out. We're going to look at all three betting types and try to break everything down.

Implied probability is when the odds are converted into a percentage. It's important to know how to calculate these to increase your wins and cut down on losses. Prop Betting Explained for the beginners. Player A has decimal odds of 4. Player B has decimal odds of 2. The equation you would use to see if Player A would win is listed below.

When calculating the implied probability of fractional odds, you'll use the calculation below. The final betting type is moneyline and there are two different ways to figure it out. The more you wager, the more you win. Take a look below to get a little more information. Decimal odds are the most popular types of odds and are relatively easy to understand.

The good thing is that it's super simple to calculate the payout for decimal odds. The equation is below. As you can see, the calculations are super simple. There's also a super easy equation you can use to convert decimal odds to implied probability. This equation is listed next.

Let's use the same betting amount and odds that we used in the above example. If they win, though, you'll get your winnings regardless of anything else that happens in the game. You can also convert plus and minus odds into decimal odds. You'd plug your numbers in and the equation should look like the one below. Basically, the number on the left is how much you'll win and the number on the right is how much you place on the bet.

The following breakdown educates new bettors about how to read and understand betting odds—and how to turn that knowledge into profit. How Odds Correlate with Payouts The first thing to know about betting odds is what they represent. They also reflect how much money bettors must risk to win a specific amount—that is, the potential payout. What is the Vigorish? A good example would be a coin toss that has an equal chance of landing either heads or tails.

The equation is slightly different for underdogs and favorites. Odds with a negative - symbol indicate the betting favorite. What is Chalk in Sports Betting? A small chalk, then, would be a slight favorite. In this case, both sides are considered equal and there is no point spread listed.

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Either way, these are some of the more exciting ways for you to wager. There are also " If-Bets ", which allow you to combine two bets. The first bet has to win for the second bet to have action. If the first bet fails, the second bet doesn't come through. If you win the first bet, you can then use the winnings on the second bet, essentially building your bankroll.

In the example above, you can see that Team A has the lowest number of the group and are considered to be the favorite to win this bet. And, with a little bit of manipulation, you can see how these odds will pay if the wager ends up being a winner and that is what we're all here for Just about every single sportsbook that caters to Americans has the option available for fractional odds.

And, while they may seem daunting at first, you don't really need to understand complex fractions in order to utilize these odds. Once you have determined this, you can figure out the favorite. To figure out which side is favored, you simply need to figure out which is the lower number. Fighter A's wager is the clear favorite as it is the lower number. So, how do you figure out what these pay? Anytime fractional odds are displayed at a value of less than 1, the bettor must risk more than they intend to win if the wager is a winner.

And, the opposite can be said for if a fractional value is more than As you can see, the payouts are in the fractional odds, you just need to know which way they go based on if they represent a value greater than or less than one. In fact, we prefer not to use them when we bet but that is just our preference. Regardless, we are going to give you a little insight into these lines, as we want to give you insight about all of the common types of odds available.

If you look into these odds, you will definitely come out a little bit confused unless you are from Europe where these odds are commonly used than American or Fractional odds. The multiplication game is not as straight forward with decimal odds. In the example above, the favored candidate is Candidate A at 1. Be sure to keep that in mind when looking at the other odds types. With the straight wagers and exotic wagers alike, you will find that these odds are worked into the lines.

After you figure out how to read the odds, you will then have to figure out the different types of bets that you can find through most sports betting sites. The different types of bets use odds somewhat differently, but in the end, it is all fairly similar. We have created special pages that explain how to read the betting odds on a variety of sports.

The reason for this is that some sports have betting odds available that others do not. Others are more cautious or strategic and tend to place wagers on single matches on the team they believe is more likely to win. Still, it would be interesting to go over how these payouts function.

Types of Odds Depending on where you are located or where you place bets you might see different ways on how the odds are displayed. Knowing these can come in handy if you are new and want to avoid some of the rookie mistakes when placing bets. We will divide these into three main types — fractional, decimal, and moneyline odds. Calculating Payouts Generally, payouts are calculated based on the odds, and the base amount of money that you put down on a betting ticket.

However, casino bonuses can be included in the payout, if you decide to play a specific number of games on the same ticket. Typically casino or betting providers will have information or instruction on what you need to play in order to qualify for a payout bonus.

You should also check if those are same day payout casinos , just so you can know when to expect your reward in case you win. Also, these bonuses are only paid if you actually win, they are simply added to your winning prize.

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