For example, a money line of +200 would mean that you would make a profit of $200 if you bet $100 and were correct. That’s also equivalent to fractional odds of 2/1 and decimal odds of 3. In football the money line is often a popular choice for bettors who have been burned by last-second scoring that actually had no actual affect on the outcome of the game.
The team that has the minus sign, which is the favorite, has points deducted from its final score, while the dog, with the plus sign, has points added. The favorite must beat the spread, which means they have to win by more than the negative number to pay off. The underdog pays off in two instances—if they win outright or if they lose by less than the spread. Of course Barcelona may have an off day and Real Madrid land the win at big 4/1 odds, doing a few punters and a bookmaker a nice favour.
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The fractional odds are considered to be the most commonly used form of odds form of odds presentation by bookmakers in the UK market. They are also referred to as “British odds” or “traditional odds”. The presentation of these odds shows how much the bettor will win from their bet compared to the amount they bet.
The greater the underdog, the less money you risk for a larger return. Although fractional and decimal betting odds are the most common way a bookmaker showcases their prices on an event, it’s still handy to know how the moneyline or American version works. A very simple explanation of probability would be a coin toss, in which the two possible outcomes are heads or tails. The probability of getting heads is a one in two chance, which can be represented as odds of 1/1, which would mean the outcome has a 50% chance of winning.
Furthermore, you need to quickly calculate the potential winnings for different bets, especially if the odds are changing while the event unfolds. Odds tell you the likelihood that an event will occur and how much will be paid out if you win. There are, however, multiple ways to convey this information. US odds are not commonly seen in Europe, but if you want to bet on US sport, you will often see it displayed.
Betting odds are applied to any event that bookmakers are taking bets on, from horse racing and football to TV specials and politics. The numbers are there to help the sportsbook, and the player keeps track of the bet. This is required as there are so many sports, teams, and bets that are occurring at the same time.