How To Read And Calculate Sports Odds

Moneyline wagers have odds attached to both the favorite and the underdog. In the example above, you can see that Team A has the lowest number of the group and are considered to be the favorite to win this bet. If you wagered on Team A to win the Super Bowl and they end up winning, you are going to need to risk more than \$100 to win \$100 as indicated by the “-” symbol preceding the payouts. In this particular example, a bettor would need to wager \$150 to win \$100.

• If you do live betting, don’t forget that you can enjoy over/unders, Moneyline, Point Spreads, and props even with in-game betting.
• According to the sports betting odds at the time, the Chiefs were the massive 10-point favorites.
• New England has covered the spread in four of their last five games, as well as in each of the last six meetings between the two teams.
• The selection that the markets sees as the most probable winner of a given event.
• Once you as a bettor start an optimum odds bookies analysis, you can realise the difference it makes to your betting strategy.

That means we can add hundreds of thousands of possible combinations in the 1000 games that will get him to where he needs to be. PJ is simply using the normal approximation to the binomial distribution. You can find the relevant formula in any introductory textbook on probability.