What do bets mean

Decimal odds describe what your total return from a bet of one unit would be and whilst fractional odds only include the profit, decimal odds include the return of both profit and your original stake. American Odds No prizes for guessing where American odds are used. These are not something many punters will see, use, or need, unless they are from North America.

Odds-on simply refers to odds that are shorter that is to say, lower than evens, with odds against referring to wagers placed at odds higher than evens. Odds-on bets are simpler in the other two odds formats, with any decimal odds of lower than 2.

Fractional odds[ edit ] Favoured by bookmakers in the United Kingdom and Ireland , and also common in horse racing , fractional odds quote the net total that will be paid out to the bettor, should he or she win, relative to the stake. However, not all fractional odds are traditionally read using the lowest common denominator. Fractional odds are also known as British odds, UK odds, [10] or, in that country, traditional odds. Odds with a denominator of 1 are often presented in listings as the numerator only.

Fractional and Hong Kong odds are actually exchangeable. The only difference is that the UK odds are presented as a fractional notation e. Both exhibit the net return. Decimal odds[ edit ] The European odds also represent the potential winnings net returns , but in addition they factor in the stake e. Therefore, the decimal odds of an outcome are equivalent to the decimal value of the fractional odds plus one. This is considered to be ideal for parlay betting, because the odds to be paid out are simply the product of the odds for each outcome wagered on.

When looking at decimal odds in betting terms, the underdog has the higher of the two decimals, while the favorite has the lower of the two. Decimal odds are favoured by betting exchanges because they are the easiest to work with for trading, as they reflect the inverse of the probability of an outcome. Decimal odds are also known as European odds, digital odds or continental odds.

The figure quoted is either positive or negative. Moneyline odds are often referred to as American odds. A "moneyline" wager refers to odds on the straight-up outcome of a game with no consideration to a point spread. In most cases, the favorite will have negative moneyline odds less payoff for a safer bet and the underdog will have positive moneyline odds more payoff for a risky bet. However, if the teams are evenly matched, both teams can have a negative line at the same time e.

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It is something many rookie gamblers ask before placing a bet. If you wager on the Seahwaks -7 and they win by more than seven points, you win your bet. This is especially highlighted in soccer because matches can end in a tie, whereas an outright winner is established in almost every other sport because of overtime rules. So, if you are wondering what does mean in betting, it refers to the point spread or betting odds. In this instance, the payout would be good for every situation mainly because the teams are quite even and there are three possible outcomes compared to just two for a sport like football unless they go scoreless in overtime.

Always bear in mind that the lower number will mean a lower payout, which is the always the case when wagering on the favorite on the moneyline. For more a detailed odds explanation, you can read our best sportsbooks for beginners article here. DraftKings Symbols Meaning When it comes to American odds, decimal odds or fractional odds, they all mean the same thing no matter which sportsbook you choose to use.

For example, if you sign up for DraftKings and are interested in money line bets and want to place a straight wager on the Super Bowl, the odds will be similar to that of any other major betting site. This is the same for any bettor looking to wager on the point spreads on college football or placing a prop bet on the NFL. Check out our top 10 US sports book Apps ranked. With spread betting, each team is given certain points that they'll have to meet for you to win.

This would mean that the Browns would have to win or lose by less than 3 for you to win and the Steelers would have to win a game by 5 or more points. If the teams tie, then you don't win or lose any money. If it says Browns Over 8, this means you'll have to bet the specified amount and the overall score has to be higher than 8.

If it says Steelers Under 8, this means you'll have to bet the specified amount and the overall score has to be lower than 8. Over Under Betting comprehensive guide. How Do Odds Work? Basically, odds represent the favorable outcome in a game. This can be who wins, what events will happen, or combined point amounts.

The three main types of odds are British, European, and American. With that said, though, it's important to know that the type of bet differs but the payouts do not. Our recent guide about the best sports trading cards ever. Sportsbook Online Sportsbooks online are available in most U. Not only do they have tons of sports, but they also have so many different bets that you can place. It's important to make sure it's legal in your state, though, so you don't get into any trouble.

Calculating Betting Odds Sportsbooks calculate odds by putting the amount that will need to be paid out to the amount of money that all bettors have paid. The sportsbooks try to keep both sides as even as possible. Not only will this save them from losing a bunch of money, but it guarantees that anyone who wins can be paid. Sports Odds Explained: American Odds Take a look below to learn more about American odds and get a better understanding of them.

If the odds have a plus, that means you'll win that amount of money if you win the wager. For example, let's say the odds are 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.