Sports Betting for Dummies

Over the past few weeks, we’ve covered the basics of sports betting in quite a few articles. Some focused on betting on baseball, basketball and football but the best and most complete guide for every beginner has one start, this is what we’re trying to do now with this Sports Betting for Dummies article.

You may be one of those who is constantly being left out by coworkers when they talk about odds, cutting their balance with heir bookie and simply living the excitement of sports at it’s most. By now you feel like you are ready to put a few dollars on tonight’s game and play along, but your main fear is not knowing what it all means.

First and foremost, you are not alone, but the good news is, that is about to change, you have taken the first step into learning. Here’s a simple explanation of the mysteries of sports betting.

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Sports Betting Odds

Okay, so you have made your selection…now what. How much do I bet, and how much will I win? Common questions, and great questions for new sports bettors to ask! There are three ways that you will typically see odds displayed, as a fraction 2/1 (or 2 to 1), as a decimal 2.00, or “American Style Betting Odds” +100.

For reading the fraction odds, it is strongly recommend to convert them to a decimal. This will make figuring out your potential win much easier! To do this, just like in 2nd grade, you take the first number and divide it by the second. So if your odds read 7/4, you simply divide (7) by (4), which equals 1.75. That is the decimal form odds, now you simply multiply (1.75) by whatever your wager amount is to figure out your potential profit. In this case, if you were to risk $100, then your potential win would be $175 profit if you are correct! In addition, you will receive your initial bet amount of $100 as well, for a total of $275 in your hand.

Now for American Style Sports Odds. Typically, when you are betting on the point spread, the odds are displayed or implied to be (-110). That is how it reads in American Style (-110). This format of odds is based on $100. When the number, as in this case, is displayed as a negative number (-110), then that is how much money you must risk in order to win a profit of $100. In this scenario, you must wager $110 to win $100 profit. If you do, you will receive $210 when you cash in…the winning amount plus your initial wager amount.

When you see the number displayed as a positive number such as (+150). Positive numbers indicate how much money you will profit if you risk $100. So, if you wager $100 on a team that pays (+150)…and you win, you will receive $250 when you cash out. That is the $150 that you won, plus your $100 original stake returned.

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