How to Calculate Odds (O/U) in Sports Betting

With the surge of the COVID-19 pandemic, people are finding new ways to pass the time. One of the greatest recreations we have during these trying times is sports betting. More and more people are looking to wager on sporting events as a way to make extra cash. With the plethora of games that are on every TV channel, it’s the perfect opportunity to place a wager. Plus, with many states passing legislation to allow sports betting, the world of online sports betting is thriving.

While the fundamentals of sports betting are pretty easy, calculating odds (O/U) can be a little tricky. If you’re new to the exciting world of sports betting, this article is for you. We will teach you how to calculate odds (O/U) so you can become a betting guru.

Step 1: Set Up Your Spreadsheet

It’s important to have a spreadsheet to properly calculate all your odds. Setting up a simple spreadsheet will not only help you keep track of all your bets, but it will also help you check your odds before each wager. The odds on a given game should be readily available online, so there’s no reason to worry about them being inaccurate. Having them stored in a spreadsheet will also allow you to quickly update them if they change.

With a little effort, you can have a fully stocked spreadsheet in no time. You can use a tool like Xcel to create a basic spreadsheet in less than a minute.

Step 2: Determine The Predictive Value Of Each Outcome

It is imperative that you enter the appropriate predictive values into your spreadsheet for each of the outcomes you’re considering. You can use tools like ESPN’s College football odds calculator to determine the predictive value of each team’s probability to win. After entering the appropriate scores into your spreadsheet, you can use the tools to determine the total number of points you’d need to bet to achieve a profit.

For example, if you’re considering betting on the outcome of the game between LSU and Alabama, you would enter LSU’s score (30), followed by Alabama’s score (20), into the appropriate columns. Using the College football odds calculator, you would then enter the following into the Odds field:

20 (over) 18.6 (under)

to determine that the spread is 20 points in favor of Alabama. If you wanted to bet $100 on the outcome of the game, you would need to enter the following:

$100 (over) 18.6 (under)

If you were looking for a way to make easy money, you could look into one of the many online sportsbooks where you can place bets ranging from $2 to $100. You should put aside at least $500 to see any sort of returns.

Step 3: Calculate The Profit (or Loss)

To determine the profit (or loss) of your bets, you will need to add up all the winnings (minus the initial stake) and then subtract the total losses (including the initial stake). It is recommended that you use a tool like Xcel to manually add up all your winning bets and then subtract all your losses. If you find that this method is too tedious, you can always choose to calculate the profit (or loss) using online spreadsheets like QuickBooks or Excel.

Step 4: Determine If You Should Back Your Selection

After you have calculated your profit (or loss), you will have to determine if you should back your selection. This is essentially a yes/no question; did you make a profit (or loss)? If so, you should continue to back your selection. If not, it’s time to switch gears and look for a different wager. Some of the factors that you should consider include:

  • The size of the spread
  • How much money you’re willing to risk
  • Whether you can afford to lose (risk vs. reward)
  • Whether or not the selection is favorable (e.g., if you’re backing a home team)
  • Whether or not you have enough experience
  • And probably the most important consideration…
  • Whether or not you’re enjoying yourself

These are all questions you should ask yourself before placing a wager. And after you’ve answered all the questions, you can choose to continue backing your selection or walk away with your money. This is where understanding odds (O/U) and calculating them correctly comes into play. If you’re wondering what the right answer is, simply follow our lead and use our example to calculate the correct odds. You’re sure to be on your way to making big money in no time!

Step 5: Double Check Your Results

After you’ve entered all your bets and calculated your profit (or loss), it’s important that you go back and re-check your results before signing off on them. This is crucial in order to make sure everything is entered correctly into your spreadsheet. If you followed our previous instructions and used a tool like Xcel to quickly enter your data, this step is all but guaranteed to take you less than a minute. You can also verify your results using online spreadsheets like QuickBooks or Excel.

Step 6: File Your Results

As with any other form of betting, results should be analyzed and then properly filed. In the world of sports betting, this is called the filing step. You should always file in order to preserve the originality of your data. After you’ve entered all your bets and verified your results, you can use a tool like Xcel to easily generate a PDF report. Make sure you save this as your final report. You should also keep a copy on your hard drive for future reference.

What Next?

Congratulations! You’re now officially a professional sports bettor. You’ve learned how to properly calculate odds (O/U) and should be able to easily enter your results and begin making profit in no time. If you’re looking for a new challenge, why not try your hand at some online slot machines or dice games? It’s the perfect way to unwind after working hard all day.