How to Read Odds in Sports Betting The Ultimate Guide 2023

“This is a big upset in the making as Team X was an underdog of 14 points today,” an announcer will say. Sometimes, a sportsbook may offer odds that you are not comfortable with. Fortunately, we can convert these odds simply using our free betting calculator. But if you prefer to do math, we’ll show you how to convert each type of betting odds in this section.

How do I know if online sports betting is legal in my state?

The best sports betting sites for 2025 are BetUS, Bovada, BetOnline, MyBookie, BetNow, SportsBetting, EveryGame, Thunderpick, and Xbet. These platforms offer a variety of features and established reputations for reliability. These tools not only promote responsible gambling but also encourage a positive betting atmosphere that supports user wellbeing.

NFL Picks & Odds

• Compulsive gamblers may also gamble to escape feelings of anxiety or depression and often chase losses.
• Say you’re using our free NFL picks and are betting on a -200 favorite, you need to lay $200 to profit $100, and you would collect $300.
• We provide no guarantee as to the accuracy of the information found on this site.
• Betting odds come in a few formats, which each dominate in different parts of the world.
• American betting odds can either begin with a plus (+) or a minus (-).
• In sports gambling, the “line” refers to the odds or point spread set by bookmakers to even the playing field between two teams or participants.
• MyBookie welcomes new users with a 50% sports welcome bonus up to $1,000, plus a $10 casino chip, making it an attractive option for those looking to maximize their initial deposit.

You’re fairly unlikely to need to do much converting most of the time, as most betting sites allow you to choose your preferred format of odds in your account settings. Yes, you can bet on sports from your mobile device through online sports betting sites that offer mobile apps or mobile-optimized websites. It’s convenient and allows you to place bets, track odds, and manage your account on the go. Odds can make or break your betting experience, as they directly influence your potential returns. Taking the time to compare odds across different betting sites can uncover opportunities for better payouts.

How to choose sports betting sites

A bookie doesn’t exist to predict the future – its reason for existence is to make money, and it ensures itself profit through its oddsmaking. In each case, though, once you’re used to reading odds in a certain format, it’ll probably feel like the ‘right’ format for you. For example, if you place an under bet on a total of 37.5 points, you’re anticipating a low scoring, defensive game. Conversely, an over bet on the same total indicates you expect a higher-scoring affair than the books predict. The amount that is set by the oddsmakers is based on how they foresee a game unfolding from a scoring perspective.

Betting Odds, Lines & Spreads

The key to understanding decimal odds is that they directly represent the total return. So, if the odds are 3.00, a successful $10 bet would return $30—your $10 stake plus $20 in profit. Higher numbers indicate higher potential payouts, while lower numbers signify favorites and lower returns relative to the stake. Each of these markets bet slip details features odds comparisons from multiple sportsbooks to help users find the best available odds. The platform also provides historical data on past games, including results and odds trends. The best betting odds are provided for those results too, indicating who might be of value heading into their next match based on recent form.

NBA Expert Picks Today

This rapid expansion has led to the entry of numerous sports betting legal sportsbooks into the market, each offering unique features and promotions to attract users. Xbet is another top contender in the online sports betting market, known for its diverse betting options and user-friendly interface. The platform covers a wide range of sports, including major leagues and niche events, ensuring that users have plenty of choices when it comes to placing bets. SportsBetting is one of the top sports betting websites that lives up to its name by offering an extensive variety of markets and betting options.

Format Definitions: Odds and Probabilities

Using the same formula, the implied probability for the Pacers at 2/13 falls at 86.6%. Instead, a sportsbook will take a percentage out of the $40, leaving you with about $38 or more depending on the site. In contrast, high odds indicate that a bookmaker believes an event is less likely to happen. These cryptocurrencies provide quick and secure deposit and withdrawal options. This extensive range allows you to tailor your betting strategy to your preferences and expertise.

Sports Betting Odds Calculator

Basketball is second only to football when it comes to sports betting in America. Again, the action is split between the NBA odds and the College basketball odds. The National Basketball Association is the top professional league in the world, although Bovada also has Euroleague and other odds alongside our NBA betting lines. Choosing the best online sports betting site is a pivotal decision for any bettor. With a myriad of options available, it’s important to arm yourself with knowledge and select a platform that aligns with your betting goals and preferences. MyBookie’s app stands out for its seamless navigation and live streaming capabilities, although it can sometimes experience performance issues.

• Our guide is designed to help you navigate the crowded online sports betting market and find the best sports gambling site that suits your needs.
• As you venture into the world of online sportsbooks, it’s essential to understand the features that set the best apart from the rest.
• Our rankings have been updated for 2025 to provide you with the most current information.
• Another thing to consider when looking for the best NFL odds is when you’re betting.
• By following these guidelines, you can enhance your betting experience while minimizing potential losses.
• Looking for NFL consensus data on how Vegas is betting each game or NCAA football power rankings to help with your handicapping?
• Understanding betting odds is essential if you’re going to have a successful betting career.
• If you pay attention, you’ll hear sports betting references regularly in everyday conversation and even more so when watching sports or TV.

NBA Betting

Our editorial team is run by individuals with many years of experience in digital publishing, editorial, and content production. Odds with a negative (-) in front indicate that a team has a higher chance or is favored to win. A positive (+), on the other hand, indicates that a team is the underdog and is less likely to win. To convert + American odds to Fractional odds, simply divide the American odds by 100 and turn the decimal into the simplest fraction.

College Basketball (NCAAB)

By leveraging these features, bettors can enjoy a safer and more controlled betting experience. Interpreting betting odds allows bettors to understand potential payouts and make informed betting decisions. Recognizing the significance of negative and positive odds can help you identify value bets and enhance your overall betting strategy. Before placing a bet, it’s essential to understand the game, the teams involved, and the current betting landscape. This knowledge allows you to identify potential value bets and make strategic wagers that increase your chances of winning. States like Georgia and Minnesota are advancing toward legalizing sports betting, potentially joining the ranks of states with legal online betting options soon.

So, odds of 2/1 will equate to 3.00 in decimal odds, which in turn, yield a 33.3% chance of an outcome happening. It’s time now to answer some FAQs and tie up any loose ends for those who want to know how to read sports odds. Knowing sports is only part of what will make you a successful bettor. Our wildly popular odds calculator lets you move easily between formats so you can quickly convert one odds type to your preferred option.

For bettors, staying up-to-date with the legal status in their state is crucial for engaging in online betting activities responsibly and legally. With a seamless connection to the retail sports betting world at your fingertips, mobile apps are transforming the way bettors interact with their favorite sports. These features ensure that you can place bets quickly and efficiently, find the bets that best suit your strategy, and enhance your overall betting experience. With odds that update in real-time based on what’s happening on the field, court, or track, live betting transforms every play, point, and pass into a potential betting opportunity. The positive value, i.e., +120, shows the underdog, which means you’ll win $120 when you wager $100. In contrast, a negative value like -110 shows how much you’ll need to wager to win $100.

• Promotions aren’t just for new users; sportsbooks often provide daily offers, bonus bets, and loyalty programs to retain and engage users.
• If you can’t find what you’re looking for, check out general betting hub for updated odds pages and picks for all the sports and betting markets imaginable.
• Decimal odds are perhaps the easiest to convert to probability – the formula is simply 100/odds.
• To see more upcoming games for each league, click on the ‘More lines’ link just above the odds for each league.
• As of July 2025, online sports betting is legal in 30 states and the District of Columbia, providing a vast array of options for sports bettors.
• Known for its odds boosts, the site provides bettors with the opportunity to enhance their winnings through strategic wagers.
• At present, you can receive as much as $1,000 in bonus site credits to use on DraftKings on sign-up.

Odds Shark’s NFL Betting Markets

• It can be useful to work out the implied probability from the odds you’re seeing for a particular selection – i.e. the approximate likelihood of that selection winning.
• This format is rarely used in the UK, and British bettors are therefore unlikely to want to use it – but it never hurts to have a basic understanding of how these things work.
• Our regional betting sites range from Europe and practically everywhere else in between.
• For a qualifying bet, you should look for relatively low odds where possible.
• Since these bets can be made months in advance, they offer a chance for big payouts, especially when backing underdogs.
• Fractional or decimal odds both help calculate implied probability as it relates to the betting line.

If all the picks in your parlay come true, the payouts are multiplied together instead of added – but if even one pick fails, the entire parlay loses. There are quality leagues in Japan, South Korea, Mexico and elsewhere; you can even bet on baseball at the Summer Olympic Games and the World Baseball Classic. And yes, you can bet on college baseball, too, especially during the College World Series in June.

This adaptive approach to betting allows for strategies that can maximize winnings or mitigate losses in real-time. Mobile apps have taken real-time wagering to the next level, offering a more immersive and interactive betting experience. With live streaming features and the ability to manage your bets with a few taps, the best betting apps ensure you’re always in the thick of the action. Whether you’re watching from the stands or your living room, real-time wagering keeps you connected to every moment of the game. From BetUS and Bovada to BetOnline and MyBookie, each site offers unique features and benefits.

Sometimes, you may need to enter a promo code or opt-in to claim the offer. Most sites will also require some form of identity verification to ensure you’re of legal betting age. Let’s delve deeper into each of these components and understand why they’re essential to your online betting journey. These are also very easy to understand, as the number above or the left (numerator) is how much you’ll win when you wager the (denominator) number below or by the right. In simple terms, you’ll get $1 for every $1 you wager, including the original amount you placed on the bet. Imagine you wager $20 against your friend who will finish a video game first.

• For instance, BetUS Sportsbook is rated as one of the best online betting sites in the U.S., offering a wide range of sports and betting options.
• The decimal odds are popular across Asia and Europe but have grown in popularity in U.S. sportsbooks due to their ease of use.
• Bovada’s app, on the other hand, is known for its swift functionality, ensuring a smooth betting experience on the move.
• The higher the odds, the more a bettor will get if they win their bet, while lower odds will result in a much more modest return.
• The most popular NFL odds betting options include the point spread, total points, the moneyline and prop bets.
• These bonuses, combined with consistent payouts and solid customer support, provide a reliable and rewarding betting experience for users.
• But seeing scores and odds and understanding what they mean — and more importantly how to profit from them — is where we come in.
• Acting as an intermediary between your bank and the betting site, e-wallets protect your financial information and often offer instant deposit and withdrawal capabilities.
• Our collegiate handicapping is as in-depth and elaborate as our NFL coverage.
• If the Warriors win by four or fewer points, though, then the Bulls cover the spread.

Now featuring Edge, our AI Sports Betting Prediction System designed to help bettors of all levels gain an edge on Vegas. Start boosting your bankroll with the power of artificial intelligence predictions and picks. Organizations like Gamblers Anonymous provide peer-led support to help individuals dealing with gambling addiction. These support groups offer a safe space for individuals to share their experiences and find strategies to manage their gambling habits. If you see a betting line that you want to take advantage of, click on the sportsbook name to go directly to that betting site to make the wager.

In WCC outings, Santa Clara stands 10-6 against the line, far superior to the Zags’ 5-11 ATS record. The Broncos are coming off their season’s most impressive win, a 30-pointer at Washington State. Their previous five Ws occurred by margins of 28, 34, 47, 23 and 25. Establishing a specific percentage of your bankroll for each bet can help mitigate losses and ensure that you have sufficient funds to continue betting over the long term.

It’s essential to consider a range of key features that can significantly impact your betting experience. Reputation and trustworthiness are paramount; a reliable site ensures that your funds are safe and that payouts are processed swiftly. EveryGame’s comprehensive coverage and commitment to user satisfaction make it a top contender for sports bettors in 2025. Whether you’re betting on major leagues or exploring niche sports, EveryGame provides a versatile and engaging platform for all your betting needs. One of the unique aspects of BetOnline is its flexibility in betting options. For instance, bettors can place various bets on golf tournaments, including single golfer to win, Top Five, Top Ten, and unique prop bets.