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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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.
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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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Published: 31st Mar 2023 08:00:07 By: NBC Sports
Sports News Video: Premier League Preview: Matchweek 29 | NBC Sports
Get up to date with everything you need to know ahead of Matchweek 29 in the 2022-23 Premier League season. #NBCSports #PremierLeague #PremierLeaguePreview
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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 Preview: Matchweek 29 | NBC Sports
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Published: 31st Mar 2023 07:00:04 By: NBC Sports
Sports News Video: LIVE BBL! London Lions vs Surrey Scorchers | British Basketball League
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Live action from the BBL as the London Lions take on Surrey Scorchers.
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Published: 31st Mar 2023 09:32:40 By: Sky Sports
Sports News Video: LIVE NETBALL! | Team Bath v Leeds Rhinos | Netball Super League
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Live coverage as Team Bath take on Leeds Rhinos in the Netball Super League.
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Published: 31st Mar 2023 08:18:11 By: Sky Sports
Sports News Video: "I wouldn't write it off!" 👀 | George Williams open to NRL return
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Warrington's George Williams tells the Rugby League Verdict on Sky Sports News that he wouldn't rule out an eventual return to the NRL in Australia but is happy to stay in the UK until at least the end of next season.
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Published: 29th Mar 2023 06:10:09 By: Sky Sports
Sports News Video: LIVE NBA! | Memphis Grizzlies @ Chicago Bulls 🏀
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Join us for live action from the NBA as the Memphis Grizzlies take on the Chicago Bulls.
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Published: 29th Mar 2023 03:41:00 By: Sky Sports
Sports News Video: LIVE NETBALL! | Celtic Dragons v Strathclyde Sirens | Netball Super League
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Live coverage as Celtic Dragons take on Strathclyde Sirens in the Netball Super League.
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Published: 27th Mar 2023 07:44:11 By: Sky Sports
Olympic News Video: Usain Bolt’s Olympic debut in the 200m heats at Athens 2004. The rest is history.
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Take a break from scrolling and enjoy some of the most satisfying clips from Diving at Tokyo 2020. Which sport do you want us to do next?
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Published: 31st Mar 2023 11:00:35 By: Olympics
Olympic News Video: 🇧🇷 🆚 🇰🇷 - Full Women's Volleyball Semifinal at Tokyo 2020 🏐
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In this video, we bring you the full women's volleyball semifinal match between Brazil and South Korea at the 2020 Tokyo Olympics. This intense match was one of the most highly anticipated games of the tournament, with both teams having demonstrated their exceptional skills and teamwork throughout the competition. With a spot in the gold medal match at stake, the players put everything on the line in this thrilling back-and-forth battle. Watch as the teams trade spikes, blocks, and digs, with the momentum swinging back and forth between them. Brazil could only be stopped in the final by the dominating U.S. team. Join us in experiencing the excitement of this unforgettable match and witnessing the incredible athleticism of these world-class volleyball players.
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Welcome to our live stream of the final 2023 #OlympicEsportsSeries qualifying competition, where the top 8 players will earn a place at the Olympic Esports Series finals in Singapore!
FIDE and Chess.com have organised a mix of open qualifiers and invitationals over three rounds, beginning 1 April. The top eight players will be invited to compete at the Olympic Esports Finals 2023 in Singapore.
So what are they competing for? A spot in the Olympic Esports Series finals, in Singapore! The first in-person live finals of the Olympic Esports Series will take place during the inaugural Olympic Esports Week between 22 and 25 June 2023. The Olympic Esports Series 2023 is a global virtual and simulated sports competition created by the IOC in collaboration with the International Federations.
More info on the chess qualification process: https://olympics.com/en/esports/olympic-esports-series/chess
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Published: 29th Mar 2023 08:08:32 By: Olympics
Sports Video: ESPN's Ryan Ruocco says women's Final Four expected to 'shatter' viewer records
ESPN announcer Ryan Ruocco gives his thoughts on the matchup between South Carolina and Iowa in the women's Final Four.
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Published: 31st Mar 2023 09:33:23 By: FOX Carolina News
Sports Video: LSU vs. Virginia Tech - Final Four NCAA tournament extended highlights
A massive fourth quarter led LSU to a 79-72 win against Virginia Tech in the Final Four, clinching its spot in the National Championship for the first time in program history. Watch the full extended highlights here.
Watch highlights, game recaps and much more from the NCAA Division I men’s and women’s basketball tournaments on the official NCAA March Madness YouTube channel.
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Published: 1st Apr 2023 01:36:08 By: March Madness
Sports Video: San Diego State, Florida Atlantic ready for their Final Four matchup in Houston
The Aztecs and Owls are both making their first trip to the Final Four. One will advance to the championship.
More: https://www.khou.com/article/sports/ncaa/ncaab/ncaa-tournament/final-four-san-diego-state-florida-atlantic-march-madness/285-103c9389-dc6a-470b-9c45-7fabf61ca737
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Published: 30th Mar 2023 09:16:08 By: KHOU 11
Sports Video: Which Team Might Draft Anthony Richardson? | 03/31/23
Fri, 31 Mar 2023 22:04:00 GMT Bo Bichette and the Toronto Blue Jays will meet Nolan Arenado and the St. Louis Cardinals on Saturday at Busch Stadium, at 2:15 PM ET.The Blue Jays averaged 1.2 home runs per game to rank seventh ...
Fri, 31 Mar 2023 21:40:00 GMT Petra Kvitova (No. 12 in the world) meets Sorana Cirstea (No. 74) in the semifinals of the Miami Open presented by Itau.Kvitova is favored to win (-115) in this Semifinal match against ...
Fri, 31 Mar 2023 19:05:00 GMT FRANKFORT, Ky. — Though it faced long odds on the morning of the last day of the 2023 session, a bill to legalize, regulate and tax sports betting in Kentucky passed through the Senate late Thursday ...
Fri, 31 Mar 2023 18:00:00 GMT Preview the Memphis Grizzlies vs. Los Angeles Clippers game with odds, betting stats, trends, splits, against the spread records and more.
Fri, 31 Mar 2023 14:05:00 GMT “After years of urging action, sports betting is finally going to be legal in Kentucky ... before saying he’s looking forward to placing the state’s first bet. Long odds were defied when he signed ...