An if bet consists of at least two straight bets joined together by an if clause which determines the wager process. For full-game total bets and run-line bets, the game must go the full nine innings. If weather shortens the game, total bets are refunded, even if the over already has been clinched. In general, games become official after five innings, and money-line bets still will be paid for a shortened game, as long as it goes five innings.
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Similarly, if you bet the Packers +7, as long as they lose by less than seven points or win outright, you win your bet. In a professional sports matchup, a point spread is given to each team for sports betting purposes. When a positive point spread is given to a team, it means they are not expected to win the game. For example, if the Kansas City Chiefs are minus three (-3) against the Los Angeles Rams (+3), then it is expected that the Kansas City Chiefs will win the game and that Los Angeles will lose. Whichever team has the (-) in front of their odds on the moneyline, or the (-) points in the spread is the favorite.
What Is A Moneyline Bet
For example, let’s say bookmaker bet365 is offering odds of 1.65 for Manchester United to win. This means that for every 1.00 you bet on that particular outcome, you will receive a profit of 0.65 should Manchester United win. To understand betting odds and how to convert odds from one format to another, we have to first understand the concept of chance. As the name suggests, these odds are used at US sportsbooks. With American odds, positive odds tell you how much you’ll win from placing a £100 wager, while negative odds show you how much you need to wager to win £100.
That said, you may be the most familiar with odds in these terms. Now, how do we calculate minus (-) odds for American odds bets? Again, negative odds show you how much to bet to win How To Convert Betting Odds Into Percentages Of Probability $100. So, negative odds – for example, -125 – mean you need wager $125 to win $100. Conversely, positive odds – let’s say +125 – mean you have to bet $100 to win $125. Simply put, positive odds show you what you win for every hundred bucks you wager, and negative odds show you how much to bet to get $100.
Moneyline Betting Explained
Above you see a money line wager, where you simply pick who will win the game, with no mind being paid to point spreads. The three main types of betting odds are fractional odds, decimal odds, and American odds. These are simply different ways of presenting the same thing and hold no difference in terms of payouts.
Match Winner Odds
To calculate fractional odds, you have to do some mental division or enter your desired amount and see what the sportsbook shows as your payout! Here are some odds for a fictitious horse race and how you go about reading them. Thankfully, you can view your potential winnings on each bet before placing it at an online sportsbook.
Horse Racing Odds Explained: How To Read Odds & Calculate Payouts
If the final score ends with a differential of three points – no matter who wins – the bet is considered a “push” and all money is refunded to both sides since neither team covered the spread. We can calculate Ottawa’s (+110) implied probability of winning the game using this same formula. We cannot use this to calculate Pittsburgh’s, however, because they have negative odds. The cost of placing a bet calculated by summing the implied probability and subtracting from 100, the measure of a fair market. In relation to Exchange betting, commission is the charge applied to winning bets, applied as a %. The bookmaker thus lays the foundation for the betting offer and the bettors can either choose to accept the offer or reject it.
A representation of the perceived frequency of an event derived from the underlying probability which enables betting. A bet on an event which cannot be easily assessed in common handicapping terms, and is offered for its novelty value (e.g. Winner of a reality TV show). A situation where you win on both sides of the same bet by exploiting odds/points movements/discrepancies over time. A baseball bet conditional on the named pitchers starting the game, otherwise void. Forecasting the outcome of sporting events using maths based rating systems and placing bets accordingly. A numerical figure set by the bookmaker to counter the perceived bias in abilities of opponents – this provides more balanced odds.