If you have entered the betting arena without having a clear strategy under consideration then you could emerge out as a very unhappy bettor, not to mention that you could also lose a ton of money in the process. Just like a doctor would require the right skills before operating over a patient, you too must work tirelessly in understanding sports betting odds before you make a killing inside the betting arena.
Each exciting sport such as boxing, tennis, golf, baseball, football, basketball, horse racing, car racing, and several such more qualify for betting. Even if the sport is college football handled by the ncaa or pro football handled by the nfl, bets may be placed, although the odds will surely differ in each sport and each game too. Odds are also displayed differently in different countries. By way of 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 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 through which you need to win if you decide to bet for or against the spread. A straightforward example will show you betting odds easily. For example in a nfl match involving 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 very first sign next to the teams name signifies the underdog and the top-dog. Therefore, Buffalo Bills would be the top-dog because of the “-” sign while the Giants are the underdogs due to the “+” sign beside it. The figure 11.2 indicates the spread and the favored team has to win by the points mentioned on the spread. The figure 120 means that you will have to bet $120 to win $100 on that spread. The last figure of 160 next to the Bills indicates that you have to stake $160 to win $100 together with your stake on that bet since the Bills are classified as the favored team to win. On the other hand, you simply have to bet $100 to win $270 should you bet on the Giants as it is the underdog team.
The above was an illustration 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 even though you will definitely have to work towards understanding and calculating the betting odds prior to placing your bet.
You will definitely be in a position to bet efficiently and convert most of your placed bets into huge wins in case you read and understand sports betting odds. Each sports book will display odds and you will have to select sites which have the best odds for you to bet on. Understanding sports betting odds is vital if you want to beat the odds and also the bookies and make a killing by winning the maximum amount of bets.