If you have entered the betting arena without having a clear strategy in mind then you could emerge out as a very unhappy bettor, plus you might also lose a lot of money in the process. Just as a doctor would require the right skills before operating on a patient, you too must work hard in understanding sports betting odds before making a killing inside the betting arena.
Each fascinating sport such as boxing, tennis, golf, baseball, football, basketball, horse racing, car racing, and many such more are eligible for betting. Even if the sport is college football handled by the ncaa or pro football handled by the nfl, bets may be placed, although the odds will certainly differ in each sport and each game too. Odds are also displayed differently in various countries. For example, USA displays odds as American odds, i.e. -100, -230, etc, while Canada, Australia and European countries display odds as Decimal odds, i.e. 2.50, 1.30, etc, and the UK displays odds as Fractional odds, i.e. 8/8, 8/4, etc.
Sports betting odds also display the underdog team together with the top-dog, the over-under and also the spread by which you need to win if you choose to bet for or against the spread. A simple example will show you betting odds easily. For instance in an nfl match between the Buffalo Bills and the New York Giants, the odds could be displayed as under
Buffalo Bills -11.2 -120 -160
New York Giants +11.2 -120 +270
The very first sign near the teams name indicates the underdog and the top-dog. Therefore, Buffalo Bills would be the top-dog because of the “-” sign while the Giants are the underdogs due to the “+” sign next to it. The figure 11.2 signifies the spread plus the favored team has to win with the points mentioned on the spread. The figure 120 implies that you will need to bet $120 to win $100 on that spread. The final figure of 160 near the Bills signifies that you have to stake $160 to win $100 together with your stake on that bet since the Bills are classified as the favored team to win. On the other hand, you only need to bet $100 to win $270 if you bet for the Giants since it is the underdog team.
The above was an illustration of betting odds in the American odds format. Each bookie will display odds in different formats however, you would be able to quickly convert it in your format when using the odds converter obtainable in most websites. The world wide web has today definitely made betting easier although you will definitely need to work towards understanding and calculating the betting odds before you place your bet.
You might certainly be in a position to bet efficiently and convert most of your placed bets into huge wins if you read and understand sports betting odds. Each sports book will display odds and you’ll have to select sites that have the best odds that you can bet on. Understanding sports betting odds is vital if you wish to beat the odds and the bookies and make a killing by winning the highest number of bets.