If you have entered the betting arena without a clear strategy in mind then you could emerge out as a very disappointed bettor, not to mention that you might also lose a lot of money in the process. Just as a doctor would require the right skills before operating on a patient, you too will have to work hard in understanding sports betting odds before making a killing in the betting arena.
Each exciting sport such as boxing, tennis, golf, baseball, football, basketball, horse racing, car racing, and many such more are eligible for betting. Even if the sport is college football handled by the ncaa or pro football handled by the nfl, bets can be placed, although the odds will certainly differ in each sport and each game too. Odds are also displayed differently in different countries. For example, USA displays odds as American odds, i.e. -100, -230, etc, while Canada, Australia and European countries 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 by which you need to win if you choose to bet for or against the spread. A simple example will explain betting odds easily. For example in an nfl match between 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 first sign next to the team’s name indicates the underdog and the top-dog. Hence, Buffalo Bills is the top-dog due to the “-” sign whereas the Giants are the underdogs due to the “+” sign next to 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 need to bet $120 to win $100 on that spread. The final figure of 160 next to the Bills indicates that you need to stake $160 to win $100 along with your stake on that bet since the Bills are the favored team to win. On the other hand, you only need to bet $100 to win $270 if you bet on the Giants since it is the underdog team.
The above was an example of betting odds in the American odds format. Each bookie will display odds in different formats but you would be able to quickly convert it in your format by using the odds converter available in most websites. The Internet has today definitely made betting easier although you will certainly have to work towards understanding and calculating the betting odds before you place your bet.
You will certainly be able to bet efficiently and convert most of your placed bets into huge wins if you read and understand sports betting odds. Each sports book will display odds and you will have to choose sites that have the best odds for you to bet on. Understanding sports betting odds is vital if you want to beat the odds and the bookies and make a killing by winning the maximum number of bets.