sports betting explained

sports betting explained

As you'd probably expect American Odds are very popular with sportsbooks in the United States. American sports betting odds work differently for favorites and underdogs, and are sometimes known as Moneyline Odds.
The American odds for betting on a favorite work by showing how much money you would have to risk in order to win $100. If the odds offered on a particular event result are -110, it means that in order to 'win' $100 you would need to bet $110.
For example, your NFL team is the favorite and are paying -110 to win their game this weekend. If you placed a $110 bet on them and they win, you would receive $100 winnings, plus get your original $110 back for a total of a $210 payout.
The American odds for betting on an underdog work by showing how much you would win if you risk $100. If the odds offered on a particular event result are +240, it means that in order to 'win' $240 you would need to bet $100.
So if your team is an underdog in their upcoming game, and the sportsbook is offering odds of +240, it means that if you bet $100 on them to win the game you would get the following back when they win - Your original bet of $100 plus $240 winnings for a total collect of $340.
If you see the letters PK alongside the odds offered on a game, it means that there is no favorite and you should "Pick" the winner of the game without any points spread.
Decimal Odds are most popular in Europe, Australia and Canada, and in our opinion are the easiest to understand. Most online sportsbooks will offer the option of displaying their odds in decimal fashion. They are sometimes known as European Odds in the UK.
Decimal odds are different from fractional odds in that the bettor must first part with their stake in order to make a bet. The figure quoted is the exact amount that will be paid out if the bet is a winner. Decimal odds are essentially equivalent to the decimal value of the fractional odds, plus one.
We think this is the easiest type of odds display to understand and use as you never have to calculate the return of your stake or worry about multiples of $100. You simply multiply the value of your bet by the decimal odds value and you will have the amount of money you will collect as a winner.
For example, if the decimal odds are 2.00 and you bet $100, you will receive $200 in total if your bet wins. (2.00 x $100).

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# posted by sportsbook bettingsites : 1:50 PM