If you’re new to sports betting, odds can seem confusing. Understanding how odds work is key to betting wisely and maximizing your payouts. Here we’ll explain betting odds and how they function at leading site Betpro.
What Are Betting Odds?
Betting odds indicate the likelihood of an outcome occurring and the potential return on a successful wager. They reflect the sportsbook’s perceived probability of that outcome based on extensive research. The lower the odds, the more likely that result is projected to happen.
Odds come in different formats like fractional, decimal, and American. Fractional (2/1) and decimal (3.0) are common internationally. American books like Betproexch use American odds.
American Odds Explained
American odds quote either a negative or positive number like -150 or +300. Here is what each means:
- Negative (-) odds show how much you need to risk to win $100. Odds of -150 mean you would need to bet $150 to collect a $100 profit if you win. The lower the negative number, the more likely that outcome is to occur.
- Positive (+) odds show how much you stand to win for a $100 bet. Odds of +300 mean a $100 wager would return $300 in profit. The higher the positive number, the less likely that result is projected to happen.
Odds in Action at Betpro
When you click on an event at Betproexch, you will see odds for all available betting markets. For example:
- New England Patriots -150
- Miami Dolphins +250
The Patriots are expected to win as -150 favorites. A $150 bet returns $100 profit if they prevail. The +250 Dolphins are underdogs. A $100 bet profits $250 if they pull the upset.
Use odds to gauge probabilities, lock in the best values, and boost your profits at Betpro!