how to understand betting odds in sports

We'll explain exactly what this means below.Ĭalculating Probability with American OddsĪmerican odds are the default odds shown on most US sportsbooks. Have you ever been in a sportsbook or glanced at the back page of the sports page to see the betting odds? You may have seen odds for an MLB game that read: Yankees (-180) at Orioles (+160). Let's take a closer look at how each type of betting odds works. Decimal odds are most commonly used throughout the UK.įractional odds are much less common and most bettors only use them when betting on horse racing, golfing, and futures. Most sportsbooks will allow you to switch to decimal odds right from the website or app.

That being said, decimal odds are often considered to be easier to read and are easiest to convert into probability. These are what you will find when betting on the NFL, NBA, NHL, MLB, college football, and college basketball. sports bettor, you will typically deal with American odds. These include American odds, decimal odds, and fractional odds.Īs a U.S. There are three types of odds bettors need to understand prior to placing a bet.

How to understand betting odds in sports