There are a variety of reasons why you might be interested in knowing the betting odds of an event, whether you’re planning to place a bet on the outcome or not. Maybe you’re trying to decide whether or not to place a wager on a sporting event you’re following online. Perhaps you’re just curious as to what the betting odds are for a particular game or contest. Whatever your reasoning may be, knowing the betting odds for sports events can be helpful, so let’s take a look at how to find them.
The Definitive Guide To Learning How to Calculate Sports Betting Odds
To begin with, it’s essential to understand that not all sports betting odds are created equal. Just because the sportsbooks are offering these odds doesn’t mean that they’re any good. It’s all about context. If you want to learn how to calculate sports betting odds correctly, you have to learn how to do it properly. Let’s dive into the details.
The Basics
It’s important to note that you’ll always need to use the same terms when referring to the event, the sportsbooks, and the odds – this can help avoid any misunderstandings. For example, if you’re unfamiliar with this concept, it could be difficult to learn that a “1 to 2” spread means that the sportsbooks’ take on the game is that it will likely end in a tie, and each side will get half of what they bet. This can be, in the long run, more profitable than betting on one of the sides to win – especially if you’re placing large wagers. In general, if you’re interested in placing a sports bet, it’s imperative to familiarize yourself with basic terms and concepts, as you’ll inevitably have to interact with a sportsbook sometime in your gambling career.
The Biggest Difference
In almost all cases, you’ll want to avoid comparing the odds of different sportsbooks, as they’re likely to give very different answers. Instead, it’s best to look at the probabilities for a particular sportsbook, as they’re usually more transparent and easier to find. This is certainly not a catch-all solution, but it’s a good starting point for anyone wanting to wager on sports.
When it comes to comparing the odds of different sportsbooks, it’s important to keep in mind the following guidelines:
- The smaller the spread, the more likely it is that the result will come as a surprise (e.g. the sportsbook gives underdog Brooklyn Nets a 7 to 9 spread over Cleveland Cavaliers),
- The bigger the spread, the more likely it is that the result will disappoint you (e.g. New England Patriots are favored over Miami Dolphins by 7.5 points),
- If the spread is equal to or larger than 6, it’s probably best to avoid the wager (e.g. Oakland Raiders are favored by 6 points over Kansas City Chiefs),
- If the spread is larger than 12, it’s a good indication that you’re being cheated (e.g. Las Vegas books give Green Bay Packers an 18-point spread over Denver Broncos), and
- If the spread is less than 1, it’s almost certainly a mistake on the part of the books (e.g. Tampa Bay Buccaneers are favored by 1 point over New York Giants)
Where To Look
If you want to learn how to calculate sports betting odds correctly, the best place to start is on the internet. There are plenty of resources available, such as forums and blogs that can help you master the art of comparing odds and scoring systems, as well as provide insight into how to interpret them. Additionally, by taking the time to familiarize yourself with these terms and concepts now, you’ll be that much further ahead when it comes time to wager on sports.
Learn How To Score
As we mentioned above, in almost all cases you’ll want to avoid comparing the odds of different sportsbooks, as they’re likely to give very different answers. However, in some cases it’s beneficial to do so. Let’s take a look at how to determine if comparing odds is the right move for you.
One of the biggest differences between traditional bookmakers and online sportsbooks is that online sportsbooks give you the ability to score. This is a function that allows you to see how other people are handling certain situations, and it’s an important tool for anyone interested in placing a wager. You can use this feature to get an idea of whether or not a particular sportsbook is being manipulated in some way, and if so, how much. It also provides insight into how much each outcome will benefit your fantasy team, if you’re into that sort of thing.
When you compare the odds of different sportsbooks, you’ll need to keep in mind the following guidelines:
- If the spread is smaller than 1, it’s almost certainly a mistake on the part of the book (e.g. Tampa Bay Buccaneers are favored by 1 point over New York Giants),
- If the spread is between 1 and 3, it’s probably best to avoid the wager (e.g. New York Yankees are favored by 2 points over Boston Red Sox),
- If the spread is larger than 3, it’s a good indication that you’re being cheated (e.g. Las Vegas books give Green Bay Packers an 18-point spread over Denver Broncos), and
- If the spread is less than 0.5, it’s almost certainly a mistake on the part of the book (e.g. Denver Broncos are favored by 0.5 points over Buffalo Bills).
It’s also important to note that in the world of sports betting, it’s common for books to “invert” the odds. This simply means that instead of having the favorite win the majority of the time, it will often be the opposite. For example, if you look at the Cleveland Cavaliers vs. Brooklyn Nets odds on the above list, you’ll see that they are listed as 1.5. This means that based on the sportsbooks’ perspective, the Nets are the favorites.
Inverting the odds is extremely common in today’s sports betting world, so when you see that a particular book has done this, it’s important to keep in mind that not all odds are created equal. This is especially important when considering the fact that the favorites will generally earn higher profits than underdogs, so it is in the bookmakers’ best interests to “flip” the odds to make money off unsuspecting bettors.
How Much To Bet
Now that you’re equipped with the basics, let’s discuss how much to bet on any given wager. Like with most things in life, it depends on what you’re trying to accomplish. Let’s take a look at some general guidelines.
In almost all cases, you’ll want to avoid betting more than you can afford to lose. This is especially important when betting on sporting events, as you don’t want to go over your bankroll. If you’re looking to get started, the best approach is to stick with simple bets. For example, if you’re not familiar with this concept, it could be difficult to learn that a “1 to 2” spread means that the sportsbooks’ take on the game is that it will likely end in a tie, and each side will get half of what they bet. If you feel like you’re getting overcharged by the book, it’s usually a good indication that you’re being cheated, and you should contact the department of sportsbooking immediately. Most companies will even look into it for you. In cases where you feel like you’re definitely being overcharged, it’s usually a good idea to look elsewhere for your football (or sport) wagers.
Depending on how much you have to risk, it’s also important to consider the amount you’re willing to bet. Most people are comfortable risking a few dollars on a single wager, but if you’re playing with money you’ve saved up for a rainy day, you might want to consider going bigger. This is especially important if you’re planning on placing multiple bets, as you don’t want to risk blowing your budget on small stakes. Going big now and again can also be profitable in the long run.