A +EV bettor is a stockbroker looking to sell high and buy low. Let’s say the New York Giants are facing the Washington Redskins in a regular season NFL game. The Giants are at odds of -110 to cover the betting line of -3.5 points. You’ve done your research and have determined the Giants are a 60% chance to cover the -3.5 betting line. As 60% is greater than 52.4%, you have found what is commonly referred to as a ‘value bet’. When you bet for the underdog, it is called betting “against the odds.” For example, if odds are +300 for the Bears this Sunday, then it is three times more likely that they will lose than win.

Calculating The Betting Odds

The truth of the matter is that Vegas pretty much sets all of the sports betting odds for the entire world. All of the world’s leading experts work for the big casino Delaware betting on the grand national Park Wagering companies in Las Vegas, and all of them work together to set the odds for different sports. Anytime you hear someone asking or talking about Vegas odds, they are simply talking about the odds and nothing specifically related to Vegas.

Odds Converter & Probability Calculator

Those who bet on the “Chiefs +8” think the Chiefs will either lose by less than eight points or win the game informative post outright. If the game ends with the Cowboys winning by eight, that is considered a “push” and point spread bettors get their money back. We researched and then ranked the best sports betting promo codes, risk-free bets, deposit matches, and other bonus offers from legal online sportsbooks. We offer some of the best odds and highest limits in the market to give you every chance of success. Whether you’re a first time player or a proven pro, we cater to every member of the sports betting community.

The number to the right of the point spread is the amount you’ll need to wager in order to win $100. Enter the amount you want to bet, put “-110” into the odds section of our odds calculator and you’ll see the potential payout on a point spread bet. If American odds start with a minus symbol, it tells you the amount you would need to wager in order to win $100. For example, if you see odds of -110 on the Brooklyn Nets to cover the spread against the Boston Celtics, you know that you would need to risk $110 to generate a $100 profit. Your total payout would be $210, as you get your bet amount back. You could be $5,000 on the Nets covering and earn a $4,550 profit if they were successful.

Overall, decimal odds represent the total payout instead of profit. The number you receive can tell you the amount won for every $1 wagered. The key to betting value in sports betting is to find numbers that reflect an implied probability that is much lower than what the ‘true odds’ of that outcome are.

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The higher the number, the greater the probability of the outcome. Depending on the betting calculator you are using, you may be required to input your odds as a fraction (e.g. 5/1), a decimal (6.00), or using the American moneyline format (+500). Once you have grasped the basics and feel comfortable with the way that win bets work, you might consider trying your hand at a full cover bet. Unlike win bets, full cover bets give you a chance of a payout even if all of your predicted outcomes do not come true. You can place single, double, or triple win bets across multiple events, increasing the amount you stand to win if all of your predicted results turn out to be correct.

Failure to wager the Bonus within the aforementioned period will result in forfeiture of the Bonus and any eventual winnings. Bets placed on different selections within same market or bets placed on equivalent markets (eg. Double Chance and Handicap bets +1/-1) are not eligible for this offer. To qualify, the player must place a single or combi bet with min. total odds of 1/1. Canceled bets or bets on suspended or abandoned events, will not count towards the matched free bet offer.