In case you have entered the betting arena without having a clear strategy in mind then you could emerge out as a very unhappy bettor, plus you might also lose a ton of money in the process. Just like a doctor would need the right skills before operating on a patient, you too must work tirelessly to understand sports betting odds before you make a killing inside the betting arena.
Each fascinating sport such as boxing, tennis, golf, baseball, football, basketball, horse racing, car racing, and many such more are eligible for betting. Even when the sport is college football handled by the ncaa or pro football handled by the nfl, bets may be placed, even though the odds will surely differ in every sport and every game too. Odds are also displayed differently in various countries. By way of example, USA displays odds as American odds, i.e. -100, -230, etc, while Canada, Australia and Countries in Europe display odds as Decimal odds, i.e. 2.50, 1.30, etc, and the UK displays odds as Fractional odds, i.e. 8/8, 8/4, etc.
Sports betting odds also display the underdog team along with the top-dog, the over-under and the spread through which you need to win if you choose to bet for or against the spread. A straightforward example will explain betting odds easily. For instance in an nfl match between the Buffalo Bills and the New York Giants, the odds could be displayed as under
Buffalo Bills -11.2 -120 -160
New York Giants +11.2 -120 +270
The first sign next to the teams name signifies the underdog and the top-dog. Hence, Buffalo Bills is the top-dog because of the “-” sign while the Giants are the underdogs due to the “+” sign beside it. The figure 11.2 signifies the spread and the favored team has to win with the points mentioned on the spread. The figure 120 means that you will need to bet $120 to win $100 on that spread. The last figure of 160 next to the Bills signifies that you have to stake $160 to win $100 along with your stake on that bet because the Bills are classified as the favored team to win. On the other hand, you only have to bet $100 to win $270 if you bet for the Giants as it is the underdog team.
The above was an illustration of betting odds from the American odds format. Each bookie will display odds in numerous formats however, you could quickly convert it in your format by using the odds converter obtainable in most websites. The Internet has today definitely made betting easier although you will certainly have to work on understanding and calculating the betting odds before you place your bet.
You will definitely be able to bet efficiently and convert most of your placed bets into huge wins if you read and understand sports betting odds. Each sports book will display odds and you will have to choose sites that have the most effective odds that you can bet on. Understanding sports betting odds is essential if you want to beat the odds and also the bookies and make a killing by winning the highest number of bets.