There are a variety of different odds that sportsbooks offer on sporting events. The most common type of odds are point spread odds, which are used to even out the playing field between two teams. For example, if the Patriots odds are set on a point spread, and the Patriots are favored to win by 7 points, then they would have to win by more than 7 points for bettors who took them to cover the spread.
Below are more odds as offered by bookmarkers.
Moneyline odds are a type of betting odds that indicate how much you will win if you bet on a particular team or outcome. The odds are usually expressed as a number, with positive numbers indicating how much you could win, and negative numbers indicating how much you would need to bet to win a certain amount.
For example, if the moneyline odds for a particular team are +200, that means that you would win $200 for every $100 that you bet on them. If the moneyline odds were -250, that would mean you would need to bet $250 to win $100.
Moneyline odds can be helpful in determining whether or not a particular bet is worth making. If the odds are very high (say, +500), then it might not be worth it to bet on that team since your potential winnings are relatively low. On the other hand, if the odds are very low (say, -200), then it might be worth it to bet on that team since your potential winnings are relatively high.
Fractional odds are most commonly used in racing. They are also used in some sports betting, particularly in the UK and Ireland.
To calculate winnings on a bet with fractional odds, you simply multiply your stake by the numerator (top number) of the fraction, and then divide the result by the denominator (bottom number). So, for example, if you bet £10 at 4/1 odds, your winnings would be £40 - £10 stake = £30 profit.
If the fractional odds on a selection are 11/4, this means that for every £4 you bet, you will receive £11 back in winnings if your selection is successful. Therefore, a £10 bet at 11/4 odds would give you £27.50 back - £10 stake + £17.50 profit.
American odds are a type of betting odds that are most commonly used in the United States. These odds are different from other types of odds, such as decimal or fractional odds, because they express the amount of money that a bettor will win if they make a successful bet.
American odds can either be positive or negative. Positive American odds indicate how much money a bettor will win if they bet $100. For example, if the American odds are +200, this means that a bettor who wagers $100 will win $200 if their bet is successful. Negative American odds indicate how much money a bettor will need to wager in order to win $100. For example, if the American odds are -200, this means that a bettor would need to wager $200 in order to win $100.
The easiest way to calculate your potential winnings from American odds is to use the following formula:
For positive American odds: (odds / 100) x stake = potential winnings
For negative American odds: stake / (odds / 100) = potential winnings