How To Read Sports Betting Odds And Lines Like A Successful Professional
The key to finding success in sports betting
is knowing how to read and interpret the betting odds and lines. Sports betting is not as simple as just taking the team
you think is going to win, as experienced gamblers never
solely look for a team or matchup they like. Instead, they are
looking for the most favorable betting odds or lines, as this
is the best way to find value. Betting odds and lines can seem
complicated, but once you get the basics down, it can be easy
to quickly and efficiently interpret odds and lines.
What are Sports Betting Odds?
The odds are the determined probability of a
given outcome. For example, in every football game, there are
odds assigned to both of the two competing teams for winning
the game, which is known as the Moneyline. Not only do the
odds determine the probability of a given outcome, but they
also, determine how much you will win by betting on that
specified outcome. When looking at betting odds, it is
important to remember the odds do not perfectly reflect the
probability of each expected outcome. The goal of a sportsbook
is to set odds so that there is equal action on both outcomes,
and there is also a vig added into the odds that must be
accounted for.
What are Sports Betting Lines?
Betting the Moneyline is not always
an effective way to bet on a game. In sports like tennis and
baseball, the Moneyline is the most popular way to bet on the
games or matches. However, in higher-scoring games like
basketball and football, betting the point spread is very
popular. The line is a prediction of the expected outcome of
the game in question. However, in higher-scoring games like
basketball and football, betting the point spread is very
popular. Similar to betting odds, the goal of the sportsbook
is to get action on both sides of the line, so the line will
move over time to reflect this.
What Do + and - Mean in Odds and
Lines?
The first step to understanding odds and
lines is being able to identify what the various “+” and “-”
signs mean. The + and - sign allows the bettor to identify the
favorite and the underdog. A + sign next to the odds or a line
signifies that the listed team is the underdog, while a - sign
signifies the favorite. For example, if a football team has +7
next to their team name, that means they are expected to lose
by 7 points. Conversely, if you gamble on a team that is
listed at -7, that means that you are betting that the team
will win by at least 7 points. The same goes for odds. For
example, a team listed at +130 is an underdog and a team at
-130 is the favorite.
How to Read Sports Betting Odds.
The betting odds attached to a given outcome
lets you know your prospective payout if the bet wins. For a
favorite, the negative number lets you know how much money you
would need to bet in order to win $100. For example, if a team
is a -300 favorite to win, then you need to bet $300 to win
$100, giving you a total payout of $400 on your initial $300
investment if they do in fact win. The odds also let you know
how likely it is that a favorite will win. If a favorite is
listed at -1000, they are considered very likely to win, but
if they are listed at -110 it should be a very close
game.
For an underdog, the positive number lets
you know the amount of money you would win by placing a $100
bet. For example, if the team is a +300 underdog to win, then
a $100 bet would result in you winning $300, for a total
payout of $400 on your initial $100 investment.
While betting odds are always on this $100
scale, you can bet in any increment you like. However, betting
in random dollar amounts can sometimes make the math to
calculate potential winnings a little complicated. Finally, if
the game results in a tie, the bet is a “push”, which means
you simply recoup your initial bet with no additional winnings
or losses.
How to Read Sports Betting Lines.
Betting lines also called the “spread”, are
a prediction of both the outcome of a game as well as the
distribution of bets of the gambling public. As mentioned
earlier, a line is set so that there is an equal amount of
action on both sides of the line. So if the line in a football
game is set at -7 in favor of the home team, that means that
the sportsbook believes that an equal amount of action will be
put on the home team winning by 7 and the away team losing by
less than 7 points.
Betting the Favorite.
A great way to think about betting on a line
is that you are adding or subtracting the number you bet on to
the final score of the game. For example, let's return to the
example above in which the home team is favored by 7 points
(-7). At the conclusion of the game, you need to subtract 7
points away from the home team’s score. If after subtracting 7
the home team is still up, you have a winner. So if the home
team wins 24-13, after subtracting 7 points the home team
still wins 17-13, meaning you win your bet! However, if the
final score had the home team winning 24-21, you lose, since
subtracting 7 points means the score would be 17-21.
There is also the possibility of a push when
betting the line. A push occurs when after adding or
subtracting the spread, the two teams tie. For example, if the
final score in the above example had the home team winning
24-17 and you bet the home team -7, the adjusted score would
be 17-17. This results in a push.
Betting the Underdog.
The same logic goes to betting an underdog,
except you add the line to the final score instead of
subtracting it. For example, if you bet a +7 underdog, you add
that seven points to the final score. So if the underdog lost
24-20, adding 7 points to their total makes the score 24-27,
meaning you won your bet.
Betting Odds on the Spread.
Another factor in the sportsbook trying to
drive equal action to both sides of the line is the odds
attached to each side of the line. The line does not have a
straight 1:1 payout for both outcomes. Instead, there are
different betting odds assigned to both sides of the spread
that reflect the action each side is getting. Let’s look at
the -7 home favorite example for a further investigation of
what this could look like. Hypothetically, let’s say that much
more people are betting on the +7 away team than the -7 home
team. Before the line moves to 6.5, the odds will shift to
reflect this change in betting behavior. In order to bet the
away team at +7, the odds may move to -115. This means you
need to bet $115 to win $100. Conversely, to bet the -7 home
team, the odds will be set at -105, trying to entice bettors
since they only have to pay $105 to win $100.
Pick ‘Em.
In some situations, the two teams can be so
close that there is no line. In these situations, the line
will be listed as a “Pick ‘Em” or simply “Pick”, implying that
the bettor just needs to pick a winner. There will be listed
odds for each team winning.
No Line.
Sometimes no line will be listed, meaning
that no bets will be taken on this game. There is a good
reason for this, usually stemming from uncertainty surrounding
whether a key player will suit up because of an injury,
suspension, or trade.
Important Tips to Consider When Evaluating
Odds and Lines.
There are some important things to keep in
mind if you are trying to find an edge when betting the odds
or lines. Below are three tips to consider:
>The home
team always gets a boost.When looking at the odds, keep in mind that
sportsbooks usually give the home team an implicit edge, since
statistically speaking the home team has a built-in
advantage.
> There are “public” teams that get
a penalty.There are certain
teams that have such nationwide popularity that in order to
get even action on both sides, there is a penalty to taking
the popular team. That means that these public teams usually
have less favorable odds than they would if they were just
another normal team. Examples of these teams include the
Lakers, Cowboys, and Yankees.
> Get help from expert
handicappers.There are
expert handicappers that specialize in finding odds or lines
that offer bettors an advantage. If you are serious about
sports betting, find a website withexpert
sports picks and handicappers.
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The Premier League across NBC Sports Group launched in 2013 with their biggest and broadest programming commitment to-date in the United States. With live multi-platform coverage of all 380 games, analysis from best-in-class talent and extensive surrounding coverage all week long, NBC Sports Group has become the ultimate destination for new and existing Premier League fans.
The Premier League maintains strong and consistent reach across NBC, USA Network, CNBC, and NBC Sports Group’s live streaming products, led by the biggest stars and most prestigious teams in the world.
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Jesse Marsch boosts U.S. soccer by saving Leeds from relegation | Pro Soccer Talk | NBC Sports
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Published: 24th May 2022 01:14:52 By: NBC Sports
Sports News Video: Premier League 2021-22 End-of-Season Awards | Pro Soccer Talk | NBC Sports
Joe Prince-Wright, Andy Edwards and Nick Mendola dish out end-of-season awards and their favorite moments from a memorable 2021-22 Premier League campaign. #NBCSports #PremierLeague
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NBC Sports Group serves sports fans 24/7 with premier live events, insightful studio shows, and compelling original programming. NBC Sports is an established leader in the sports media landscape with an unparalleled collection of sports properties that include the Olympics, NFL, Premier League, NASCAR, PGA TOUR, the Kentucky Derby, Tour de France, French Open, IndyCar and many more.
Subscribe to our channel for the latest sporting news and highlights!
The Premier League across NBC Sports Group launched in 2013 with their biggest and broadest programming commitment to-date in the United States. With live multi-platform coverage of all 380 games, analysis from best-in-class talent and extensive surrounding coverage all week long, NBC Sports Group has become the ultimate destination for new and existing Premier League fans.
The Premier League maintains strong and consistent reach across NBC, USA Network, CNBC, and NBC Sports Group’s live streaming products, led by the biggest stars and most prestigious teams in the world.
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Premier League 2021-22 End-of-Season Awards | Pro Soccer Talk | NBC Sports
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Published: 24th May 2022 01:14:06 By: NBC Sports
Sports News Video: LIVE NETBALL! Leeds Rhinos v Saracens Mavericks | Vitality Netball Superleague
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Jaydee Dyer is joined by 3-time NBA Champion BJ Armstrong and the Hoop Genius Mo Mooncey to discuss the Western Conference Finals, Dallas Mavericks take on Golden State Warriors! Can Luka Doncic cause another upset? Will Steph and Klay roll back the years? Let us know your thoughts in the comments below, and don’t forget to catch every Conference Finals game live on Sky Sports.
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Published: 18th May 2022 05:30:07 By: Sky Sports
Sports News Video: FULL MATCH NBA PLAYOFFS! | Bucks @ Celtics 🏀 | Game 7
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Join us for live action from the NBA playoffs as the bucks take on the Celtics for a place in the Eastern Conference finals!
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Published: 15th May 2022 10:39:13 By: Sky Sports
Sports News Video: LIVE BBL PLAYOFF FINAL! | Leicester Riders v London Lions | British Basketball League
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Live action from the BBL playoff final as the Leicester Riders take on London Lions.
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Published: 15th May 2022 05:46:52 By: Sky Sports
Olympic News Video: Fun fact: Tug of war was an Olympic sport from 1900 - 1920 🤯
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Check out Elsabeth Black's amazing floor performance at the Tokyo 2020 Olympics! She is one of Canada's best gymnasts and has been achieving top finishes at the Olympics since 2012. Have fun watching her great routine to a great song!
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Published: 23rd May 2022 11:00:24 By: Olympics
Olympic News Video: 2008 Lionel Messi was something else 🤯
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Experience Olympic Slopestyle from Beijing 2022, in 360° virtual reality!
The video can be watched on all devices and there is no headset required!
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Published: 22nd May 2022 11:00:06 By: Olympics
Olympic News Video: What Nadal really said to Lopez after they won gold...
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Will @RafaNadal be bringing the spice to @Roland Garros this year? #Shorts
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Published: 21st May 2022 03:00:13 By: Olympics
Sports Video: 'Best team in the NBA': Celtics fans ready for rebound against Heat in Game 4
Despite dropping two of the first three games of the Eastern Conference Finals, Boston basketball fans are confident the C's can reach the NBA Finals.
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Published: 23rd May 2022 10:54:17 By: WCVB Channel 5 Boston
Sports Video: Laurence Holmes praises White Sox for responding to Josh Donaldson's comments | NBC Sports Chicago
On this episode of Unfiltered, Laurence Holmes joined David Kaplan to discuss Yankees' third baseman Josh Donaldson's racist comments toward White Sox shortstop Tim Anderson on Saturday. Holmes discussed the one-game suspension and gives his opinion on he thinks Tim Anderson's teammates reacted.
#NBCSportsChicago #ChicagoWhiteSox #NewYorkYankees #Unfiltered #DavidKaplan #TimAnderson #JoshDonaldson #LaurenceHolmes
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NBC Sports Chicago, a partnership between the Chicago Blackhawks (NHL), Chicago Bulls (NBA), Chicago White Sox (MLB) and the NBC Sports Group, features over 275 live pro games in high definition each year. In addition, NBC Sports Chicago delivers extensive pre/post-game coverage for its core pro team partners, as well as Chicago Bears and Chicago Cubs multi-platform coverage, plus - local sports discussion programs that includes SportsTalk Live, and massive cross-platform coverage provided by the network’s growing digital platform, NBCSportsChicago.com, the “MyTeams by NBC Sports” app, and its variety of fan-focused social media outlets. Fans can follow the network on Twitter via @NBCSChicago.
Laurence Holmes praises White Sox for responding to Josh Donaldson's comments | NBC Sports Chicago
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Published: 24th May 2022 01:02:08 By: NBC Sports Chicago
Sports Video: Report: Dwayne Haskins was intoxicated when he was hit, killed on Florida highway
Mike Florio and Chris Simms explore reports that NFL owners are counting votes toward potentially dismissing Daniel Snyder and discuss how at some point, too much controversy can seal one’s fate. #NBCSports #ProFootballTalk #DanielSnyder
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NBC Sports Group serves sports fans 24/7 with premier live events, insightful studio shows, and compelling original programming. NBC Sports is an established leader in the sports media landscape with an unparalleled collection of sports properties that include the Olympics, NFL, Premier League, NHL, NASCAR, PGA TOUR, the Kentucky Derby, Tour de France, French Open, IndyCar and many more. Subscribe to our channel for the latest sporting news and highlights!
Mike Florio, creator of the industry-leading Profootballtalk.com, offers his NFL insight alongside regular guests, including former NFL athletes such as Chris Simms. Pro Football Talk informs and entertains with the most up-to-date news and analysis surrounding the topical NFL stories of the day.
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Owners reportedly counting votes for possible Daniel Snyder ouster | Pro Football Talk | NBC Sports
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Published: 23rd May 2022 05:30:02 By: NBC Sports
Sports Video: Bolts 1 win away from another Eastern Conference Finals appearance
Mon, 23 May 2022 16:36:00 GMT Summer is right around the corner and all the hottest sports are in season, making it the best time to check out Caesars Sportsbook New York for the first time. New York sports betting has taken off ...
Mon, 23 May 2022 12:30:00 GMT After Oklahoma, Florida State's odds are +500, UCLA (+700), Florida (+800), and Arkansas (+1000). The 2022 Women’s College World Series is scheduled for June 2-10 in Oklahoma City, Oklahoma. Erik Hall ...
Mon, 23 May 2022 10:57:00 GMT My friend Howard Stutz has covered the casino business for decades (he spent years in the Las Vegas Review-Journal before Sheldon Adelson bought the paper and ruined it). Howard’s work is always worth ...
Mon, 23 May 2022 10:24:00 GMT The Minnesota Senate adjourned without taking up sports betting legislation, meaning bettors have to wait until at least 2023.