Understanding sports betting odds before making a killing

If you have entered the betting arena without a clear strategy under consideration then you could emerge out as a very unhappy bettor, plus you could also lose a lot of money in the process. Just as a doctor would require the right skills before operating over a patient, you too will have to work tirelessly to understand sports betting odds before you make a killing in the betting arena.

Each exciting sport including boxing, tennis, golf, baseball, football, basketball, horse racing, car racing, and many such more qualify for betting. Even when the sport is college football handled by the ncaa or pro football handled by the nfl, bets can be placed, although the odds will surely differ in each sport and every game too. Odds are also displayed differently in various countries. For 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 also 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 by which you need to win if you decide to bet for or against the spread. A straightforward example will explain betting odds easily. For example 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 would be the top-dog because of the “-” sign while the Giants would be the underdogs because of the “+” sign next to it. The figure 11.2 indicates 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 final figure of 160 next to the Bills indicates that you need to stake $160 to win $100 along with your stake on that bet because the Bills are the favored team to win. On the other hand, you only need to bet $100 to win $270 if you bet on the Giants since it is the underdog team. arbitrage betting 2014

The above was an example of betting odds from the American odds format. Each bookie displays odds in different formats but you could quickly convert it in your format by using the odds converter obtainable in most websites. The world wide web has today definitely made betting easier although you will certainly need to work towards understanding and calculating the betting odds before you place your bet.

You will definitely be in a position to bet efficiently and convert most of your placed bets into huge wins if you read and understand sports betting odds. Each sports book displays odds and you’ll have to choose sites which have the best odds for you to bet on. Understanding sports betting odds is essential if you wish to beat the odds and the bookies and make a killing by winning the highest number of bets.