If you want to win at sports betting then you have to understand the odds. This is because understanding how to read odds one can learn how to beat the odds. Face it - there is no way to get around the odds of a sport bets. Betting without odds is known as a straight bet (a bet based on the exact outcome of a competition) is very rare. Odds are factored into all bets in order to eliminate landslide monetary losses for a sportsbook. So, let’s take a look at how to read betting odds.
In order to understand betting odds, one needs to be able to read two things: a money line and a point spread. A money line is essentially a means of defining the actual payoff one would receive on the bet. So, let's examine an example of a money line and break its various components down. Let's say you are betting on baseball. You notice one team is listed at -120. This means one must place a £120 bet in order to win $100 as this team is the favorite. Conversely, if you play the underdog you will win £120 on a £100 bet.
Also, odds essentially integrate a handicap into the betting process and are based on point spread. So, in addition to the money line previously mentioned the favorite will be handicapped with, say, -2. So, the favorite must win by a minimum of 3 in order for the gambler to collect on the bet whereas the underdog can lose by 1 and still win.
