One of the first things you should learn if you are going to be successful at betting is reading betting odds correctly. Read our expert guide on betting odds and gain an understanding of how online sports betting odds wok. Learn about fractional odds, decimal odds and more. Learn about the three popular formats that betting odds are expressed in: fractional, decimal, and moneyline. Find out how to interpret these types of odds.

What are fractional odds? How do I calculate money-line odds? Threat not, for we look at how to read sports odds in this article. Like you, many would-be punters who are new to online sports gambling may have browsed a few sports betting sites and seen long lists of cryptic numbers. The more timid may be thinking a career in rocket science seems rather inviting right now.

Introduction: How To Read Sports Odds

Moneylines used in sports betting differ from point spreads and are usually used in sports where scoring is low, like baseball and boxing. Fear not, everything you need to know around NFL odds, including how to read NFL odds, how to understand. Well, it’s dissimilar to the Moneyline odds in.

Three different conventions have been developed between the United Kingdom, continental Europe, and the Americas. As readers browse and wager at internet sports books, they will come across all three, but have no fear. These numbers are not as complicated as they appear at first. JackpotFinder is here to help bettors understand and wager with confidence.

Fractional Odds or British Odds

Bet365 uses Fractional odds, also known as “British odds”. This is the preferred notation in Great Britain and Ireland. (For whatever it is worth, this is also preferred by your present author.) This is what the reader sees when Bet365 states, for example, “20/21”.

The fractional odds are relative to the stake of the punter. If the odds are 20/1 (expressed “twenty-to-one” or “twenty-to-one against”), this asserts that the punter will win $2,000 profit on a $100 stake. Note that the winning punter always receives back the initial stake, so if the odds are 20/1, the punter should receive back $2,100.

Conversely, if the odds are 1/20 (“one-to-twenty” or “one-to-twenty on”), the better will only make $5 on the $100 stake. The bettor would then receive back $105.

When the odds are one-to-one, that’s also known as “evens” or “even money”. In fractional odds, this is expressed 1/1, and the winner of a $100 bet will receive $200 (including the return of his stake). If still confused, you may want to look at our brief explanation of jackpot terms instead.

Decimal Odds or European Odds

Bodog uses Decimal odds, also known as “European odds” or sometimes “continental odds”, which are preferred in Canada, Europe, and Australia.

Whereas Fractional odds make it easy to calculate how much the winning punter will win, the Decimal odds system makes it easier for the punter to calculate how much the winning punter will receive. The difference? The punter has already paid out his stake, and when he wins, he gets it back, so the amount received is the winning plus the stake.

Conversion is relatively simple. Just use division to convert the fraction and then add one (1).

So, if the fractional odds are 20/1, the decimal odds are 21.0. If the fractional odds are 1/20, the decimal odds are 1.05. When the odds are even money, they are quoted as 2.

Converting from Fractional odds to Decimal odds

For the sake of comparison and to illustrate conversion, readers will recall Bet365’s money-line bet on the Colts is expressed as 20/31. We can convert this in three steps:

1. Divide 20 by 31. (20 ÷ 31 = 0.64516129)
2. Round 0.64516129 down to two significant digits. (0.65)
3. Add 1 to 0.95. (1 + 0.65 = 1.65)

Thus Bet365’s 20/31 in decimal odds notation is 1.65. If you compare it with Bodog’s Money Line bet, you’ll notice that Bet365 has slightly better odds.

Money-line Odds or American Odds

By default, BetUS uses “Money-line odds”, also known as “American odds”. For convenience, users of this site can also toggle this, but Jackpot Finder will briefly explain it so when readers find it on other online sports books, they have an idea of what they are looking at.

Money-line odds are typically (but not necessarily) used for Money-line betting.

When the number is positive, it refers to the amount of money which will be won on a $100 wager. In the above example, a winning bet of $100 on the Titans, will result in a $100 win for the punter. Thus, fractional odds of 20/1 would be expressed as +2000.

When the number is negative, it refers to the amount which must be wagered to win $100. Thus, when the fractional odds are 1/20, it would be expressed as -2000.

Even odds can be expressed as either +100 or -100. The bet on the Titans above is in fact even odds.

We will convert both of Bet365’s Money Line bets to demonstrate how to read sports odds.

Converting from Fractional odds to a Negative Moneyline odds

Again, remember Bet365’s money-line bet on the Colts is listed as 20/31.

Because the Colts are expected to lose, we already know this number will be a negative. Therefore, we will follow these four steps:

1. Multiply the numerator (20) by 100. (20 × 100 = 2000)
2. Divide the product by the denominator (31) (2000 ÷ 31 = 64.516129)
3. Round down to two significant digits (65)
4. Take the negative (-65)

Thus Bet365’s 20/31 in money-line odds notation is -65.

Converting from Fractional odds to a Positive Money-line odds

Now, let’s look at Bet365’s Money-Line on the Titans, shown as 27/20

Because the Titans are favored to win, we know this number will be a positive. Therefore we follow these simple steps:

1. Multiply the denominator (20) by 100. (20 × 100 = 2000)
2. Divide the product by the numerator (27) (2000 ÷ 27 = 74.0740741)
3. Round down to two significant digits (74)
4. Sign as positive (+74)

Thus Bet365’s 27/20 in money-line odds notation is +74.

How to Read Sports Odds Explained

Observant readers will have noticed that the sports betting lines at different online sports books varied (check our latest sports betting odds for all major events). Not so much for it to really matter on a small bet, but enough for it to matter when large enough bets are made over time.

Smart bettors take advantage of this by hedging bets at different bookies. At this point, punters are no longer gamblers, but investors.The laws regarding personal income tax will even vary because the successful use of arbitrage assures profit and therefore the income is no longer covered by gambling law. As mentioned before, the best jackpot strategies can be found here at JackpotFinder to help you win that massive prize.

One of the most common types of sports betting lines when wagering on a game is the moneyline. You will see moneyline odds for every game and every sport played for the most part. While some games that have a very large spread but stray away from offering a moneyline, it is still one of the most popular styles of betting. A moneyline is a type of straight wager where the bettor wagers simply on who will win the contest, straight up – without any spread involved.

The easiest way to think of moneyline betting odds is that you are only betting on who wins the game. It does not matter how many points or goals they win by, all that matters is who wins. If you see a - (negative) symbol then that team is the favorite and the team with the + (plus) sign is the underdog. Keep reading below to understand how moneyline odds work or visit the homepage of ExplainBettingOdds.com to read about odds in general.

Understanding How Moneyline Betting Odds Work

The moneyline is used exactly the same no matter what sport you are betting on. All you must do is select who you believe will with the matchup without any other thought behind you. By taking the favorite, a bettor would have to risk more money than what their expected return would be. Because there is no point spread involved to handicap the game, the oddsmakers and books handicap the payouts to ensure their book stays balanced. Betting on the underdog will result in a much better payout, as the oddsmakers have deemed this team less likely to lose. As you take action on either the favorite or the underdog and select the moneyline, a ratio of $100 is used to represent the payouts.

Seems pretty easy right?

Well, it's definitely easier than betting the point spread, in which a team has to cover a spread installed for a match up however you should know that moneyline wagers do not payout the same as a wager against the spread. Keep reading to learn more about payouts when betting on the moneyline.

Understanding Payouts When Betting On The Moneyline

The biggest differences on the moneyline though, aside from no point spread, is the payout. The idea behind a point spread is to bring the two teams in a match up to a more even playing field. If a team is better than the other, the points given by the favorite brings the underdog to a more even field. That is not the case on the moneyline.

Simply put, you will have to risk a whole lot more money on a favorite to profit. On the flip side though, if you bet on the underdog, the potential profit is a lot bigger on the moneyline than betting on the point spread. That is because the likelihood of the underdog winning is slim on the moneyline.

Explanation Of How Moneylines Work In MLB

• Atlanta Braves -300
• Philadelphia Phillies +200

This is an example of a moneyline you could see in Major League Baseball. The Braves are matching up with the Phillies, with Atlanta set as the favorite. You can tell Atlanta is the favorite because of the minus symbol. It is indicative of the amount that must be risked to return a profit. At -300, a $1 profit is made for every $3 risked on the Braves to win the game. On the other side, at +200, that is the same as saying 2/1. That means, for every $1 risked on Philadelphia to win the game, a $2 profit is returned. Moneylines are simply straight-up betting lines with no spread involved, which is why they can range quite significantly.

Article: How To Read MLB Betting Odds

Understanding The Moneyline In Football

• Denver Broncos -300
• Jacksonville Jaguars +300

Here in this example, the Broncos have been set in the role of the favorite, going off at -300 on the betting line. That means, for every $3 risked on Denver to win, a $1 profit is returned. So if you wager $30 on Denver to win, you stand to win $10. On the flip side, the Jaguars are set as a +300 underdog. That means for every $1 risked on Jacksonville, a $3 profit is returned. So if you were to wager $10 on Jacksonville to win, you would profit $30. So you can certainly see the disparity on the payout and why someone might want to take the Jaguars over the Broncos. Also, taking underdog moneylines in parlay bets can be huge for your payouts!

Article: How To Read College Football Betting Odds - How To Read NFL Betting Odds

Understanding The Moneyline Odds In The NBA

• Los Angeles Lakers +200
• Miami Heat -200

Here in this moneyline example for the NBA, the Lakers are matching up with the Heat. Miami has been set in the role of the betting favorite, going off at -200 on the betting line. As such, a $2 wager is needed to profit $1. So if you were to wager $200 on Miami, as $100 profit is returned if the bet is won. On the other side of the equation, the Lakers are in the underdog role. at +200, that is the same as 2/1. So, for every $1 risked on L.A to win, a $2 profit is returned. You can see a wide range of profits for a moneyline, because the underdog and favorite can be far apart straight up with no point spread.

Article: How To Read NBA Betting Odds

Bovada Sportsbook - Best Sports Betting Site For Betting On The Moneyline

Moneylines are one of the most popular bets that players get involved in. There are always teams that are expected to beat other teams. The margin of victory may be pretty wide. The big thing that sticks out here is how big of a favorite some teams are.

There plenty of moneylines that might show a team being a heavy favorite and if players bet against them, that is a very huge profitable opportunity. Upsets are always going to happen so this is where a lot of bread can be won. There are also toss-up games as well that many players take a stab at as well and end up cashing big on Bovada. This is the place to get when it comes to Moneyline bets regardless if its blowouts or close games.

BetOnline Sportsbook - Best Sportsbook With Great Moneylines

It's clear that BetOnline is one of the best sportsbooks for players and the moneylines that are offered are one of the main reasons why. There is news coming out all the time about teams prior to games and as soon as news drop that effects a team, it also affects the Moneyline on BetOnline.

This is what gives BetOnline a bonus over other sportsbooks because of the consistent update of Moneyline and always moving. Place your bet early could also be a great idea because of the news that could swing later on that week or day before matchup. BetOnline has it set up to where if any changes need to have done that is possible.

SportsBetting's Sportsbook - Lots Of Betting Odds When Betting On Moneylines

There are a number of things that SportsBetting sportsbook offers that makes it one of the better online sportsbooks for players. When it comes to picking some of these games with favorable matchups, the Moneyline does really determine how much players want to put down on these games. Most of the time, these games have the favorite that doesn’t really see players win a lot unless they put a lot of money down. When it comes to upsets, however, this is where players can have their lives change by just one pick.

Players with SportsBetting account have seen the Moneyline and have taken advantage of that the line because of the possible big payout. When you see a team like the Lions be underdogs against the Arizona Cardinals pull out the victory, only one thing is happening and that is big money is being handed out to all the players who took the chance on SportsBettting.

MyBookie Sportsbook - Money Line On MyBookie One of The Best

It is hard to find any sportsbook that has better moneylines that MyBookie. The way Moneyline works is very simple and most of the time it changes depending on what players are playing and are not. This often changes and sometimes in the favor of a player's bet. MyBookie is known for having a lot of people cash big when picking the Moneyline and the reason why is simple, their lines are better.

How Do You Read The Money Line Odds

See the underdog betting like at (+115) is not bad but MyBookie will have that same under down with a Moneyline of (+130) which would win players more money if they were to bet on that underdog team. This is why shopping for lines is so important for all players. You can like a team to win a game and have decided you want to place a wager on them but once shopping around for lines, there is a big chance that you will find that MyBookie has the best moneylines.

How To Read The Moneyline Odds Today