Basically there are four ways
that an online sports gambling establishment
will specify odds. They are American, Decimal,
Fractional, and Horses (because this is the
way horse racing odds are generally expressed).
We will give a brief explanation of each type
in this Tutorial.
American style odds:
So called "American style
odds" are expressed in terms of a "-"
for favorites and a "+" for underdogs.
For example, if you see "-120"
listed as the odds on the team you are interested
in betting on, this tells you that you must
wager $120 dollars in order to win $100 (Or
risk $1.20 to win $1.00, whichever makes more
sense to you). If you see "+110,"
this means that for every $100 you wager, you
stand to win $110.
So when a sports gambling establishment
refers to a "dime line," they are
referring to the differential between the favorite
and the underdog. So if the favorite is listed
as "-120" and the dog is listed as
"+110," then this is a dime line due
to the fact that favorite bettors are risking
.10 more per dollar than the underdog bettors
stand to get back. As you can see, this is how
a sportsbook makes it's money. This differential
is often referred to as the "juice"
or "vig."
Decimal odds:
Most European sportsbooks use
decimal odds by default. Calculating your winnings
using decimal odds is simple. If you wager $100
at 2.31 odds, you will receive $231 ($100 x
2.31) if you win (which includes your original
$100 wager). If you wager $100 on 1.75 odds
you will receive $175 if you win (which includes
your original wager).
Fraction odds:
Some European sports gambling
establishments express odds in fractions. In
such cases, the win amount is listed first.
So a line listed as 9/10 would give you $9 of
winnings for a $10 winning bet. .
Horses odds:
In horse racing, odds are generally
expressed in the form of x to y (or x - y).
You are risking y in order to win x.
For example, if you see 10
to 1, it means that you are risking $1 in order
to win $10, or $100 in order to win $1000. Conversely,
if the odds are 1 to 10, it means that you have
to wager $10 to win $1, or $100 to win $10.
These are the basic ways that
odds are expressed at online bookmakers. Odds
are not at all complicated when you know the
basics, and the basics as given here should
be sufficient to get you started betting online.
