The lower-juice sportsbooks are normally found outside of the state Nevada. If you are in a state where sports betting is legal, please check out our online sportsbook directory to find the best and most secure places to make NFL bets. Legal online sports betting is becoming more and more available in the US, and users all over the country are looking for trustworthy platforms to place wagers.

How To Convert Positive Money Lines To Fractional Odds

Texas winning by either five or seven gives you a win and a push. Any other result creates a win and a Betting Pool loss, so you’re only risking the vigorish. In most cases, the favorite will be the team with a negative moneyline .

How Do I Convert Probability To Odds?

To bet Chicago simply to win, you must wager $250 to win $100, while a $100 bet on Detroit would pay $200 if the Lions come through. Congress banned sports betting in 1992 while allowing it in four states — Nevada, Delaware, Montana and Oregon — that had already been offering it. Las Vegas is the most popular destination if you want to make a bet on college football, where the number of ‘sports books’ is many.

How To Use Odds To Calculate Implied Probability

Our guide will help you learn how to calculate sports betting odds in different formats and compare them against each other, and improve your gambling with our sports odds calculator. In horse racing, odds will dip to something like 3/5 or 5/7 which usually means that horse is a big favorite. A 3/5 favorite is equal to -167 in American odds and 1.6 in decimal odds. Reading odds may be the first part to figure out before you begin sports betting, as they specify the implied probability of an outcome and how much money can be won.

Horse Racing Terminology

The same can be said for 3.5, 3, and 2.5 – having to lay 3 points is much better than having to lay 3.5, and having to lay 2.5 is far greater than having to lay 3. Sometimes, you may see a point spread bet listed with odds of -105, -115, or even -120. In those cases, you would need to bet $105, $115, or $120, respectively, to win $100.

Maddux’s Winning Picks

In both cases, the winning gambler collects not only the prize amount but also the amount placed in bet. As such a gambler informative post betting $115 in a -115 bet will collect $215 from the book maker if his favorite team wins. Sports betting is a way in which fans of a particular sport can combine their expertise about the game and their gambling skills to make money on the outcome of particular games. Typically, the bookies offer odds on which the betters or gamblers place their bets.

The decimal odds format, also known as European odds, represents the multiple of your stake that you will get back for winning a bet. While these are more common at overseas betting exchanges, you may see these at US betting sites. For example, betting on a market priced at 2.5 means you would win two and a half times your stake if your bet were to win. For something like soccer, Arsenal could be a +150 favorite against Everton as a +190 underdog, while the draw would be set at +220.