Understanding Baseball Odds
The 2020 MLB season has been released with a shortened 60 game schedule beginning on July 23rd. This MLB Vegas Odds page will be updated daily with money line betting odds on each game, including baseball odds from Las Vegas sportsbooks such as Westgate Superbook, Circa Sports, William Hill, and MGM. Decimal Odds Versus Fractional Odds. In truth, one isn’t better than the other but there is certainly a trend emerging towards decimal odds. Historically fractional odds were used in the UK, especially on racetracks and on the high street. There are two key differences. Generally, decimal odds are easier to understand. Baseball Betting, 101: Understanding MLB Odds April 29, 2019 by TheAlgoholic I think one of the single biggest misunderstandings that the DFS community and the general public has is where betting odds come from and how they are shaped. Baseball betting odds help: Odds Portal offers baseball odds comparison and results from baseball leagues and tournaments. You can compare 1x2 odds, home / away, asian handicap odds, over / under and baseball outrights betting odds. Compare baseball betting odds to win up to 20% more from baseball odds comparison.
Understanding Baseball Odds
Understanding Sports Odds
by Trevor Whenham - 05/08/2008
Here's the most simplistic but true statement I can possibly make about sports betting - understanding sports odds is a pretty important part of sports betting. You can be the best handicapper in the world, and you can pick winners with shocking regularity, but if you don't understand odds then you can't know if a bet is worth making, and you probably won't be a winner in the end. Fortunately, understanding sports odds isn't that tough once you figure it all out.
Before we look at the details of things there is one thing to keep in mind - your job as a sports bettor is to determine what you think the likelihood of something happening is and then to compare it to the odds of that event occurring. If the posted odds are better than your anticipated likelihood then you have a bet worth making, but if the odds, or the potential return on the bet, is less than the chances you give the bet of being successful then it is not worthwhile. Novice or unsuccessful bettors think that sports betting is all about picking winners, but that is only a small part of success.
There are a number of different ways that odds can be presented, but they all come down to the same thing. Sports books assign what they think is a fair price for a particular outcome. By fair price I mean that the books try to set a price that is attractive to bettors so that they will bet on it, but not so attractive that they will get too many bets and risk losing money. Books will adjust the odds once they have been set if they are attracting too much or too little action.
Sports odds can be presented in a number of different ways, but they all represent the same thing in one way or another - the amount you will win if you make a bet and are correct. They express them in different ways, but that's the meaning.
Fractional odds - These aren't the most common in sports betting, but they are the easiest to understand so we will start here. They are used in horse racing, so if you are familiar with betting on the ponies then you know fractional odds. Not surprisingly, they are expressed as a fraction. For example, odds of 4/1 mean that you would win four dollars if you bet one dollar and were correct. The odds can be less than even, too. Odds of 1/4 would mean that you would have to bet four dollars to win one dollar. With fractional odds it is also quite simple to figure out if a bet makes sense. If the odds are 4/1 and you think that something is likely to happen once in three tries then it is a very profitable bet. On the other hand, if it were likely to happen once every five tries then you would lose money in the long term if you bet it at 4/1.
Decimal odds - These aren't used in the United States very often, but they are seen in Canada, Europe and Australia. They can also be the most confusing at first. The easiest way to understand them is to start with fractional odds. To make a conversion you take the fraction, turn it into a decimal, and add one. That means that 4/1 fractional odds would convert to decimal odds of five, and 1/4 odds would become 1.25.
Money line odds - These are by far the most common form of odds in North America for sports betting. They are expressed as numbers greater than 100, and they can be either a positive or negative number. Each one is a little bit different.
When a money line is a positive number then the odds are the amount you would win if you were to bet $100 and were correct. For example, a money line of +200 would mean that you would make a profit of $200 if you bet $100 and were correct. That's also equivalent to fractional odds of 2/1 and decimal odds of 3.
A negative money line represents the amount that you would have to bet to win $100 if you were correct. For example, a -200 money line means you would win $100 if you bet $200 and won. It is also equivalent to fractional odds of 1/2 and decimal odds of 1.5.
Understanding Basketball Odds
When it comes to sports betting lines, you probably are wondering what the lingo of lines, odds, and spreads really mean. Understanding what these terms mean is essential to making proper picks on your favorite teams. For the most part these rules apply to all the main sports such as football, basketball, soccer, and hockey. But there are some key differences when betting against the big leagues like the NFL, NBA, and MLB.
Super Bowl and Stanley Cup Betting Odds
A betting line is another terminology for point spread, which is tied to the outcome of the event. It is a forecasted prediction of how many points an anticipated stronger team will win by against a weaker team. In the betting world the stronger team is referred to as the favorite, and the weaker team is referred to as the underdog. These collectively are referred to as spreads.
NHL, Baseball, WNBA Playoffs Betting Picks
In a point spread, you have to bet against the forecasted outcome one way or the other, you cannot just pick a team to win lose or it without laying down a lot of money or it would be too easy to beat a highly likely winner. Instead if a team is predicted to win by 7 points, the spread would be -7 towards that team. You then must place on a bet on whether you think the favorite would beat the underdog by at least 7 points, or if you think the underdog could cover and lose by less than 7 or win. Sometimes a game is considered highly contested and balanced that you might have what is called a pick-em where you simple pick which team will win. Point spreads are common in the NFL.
NBA Point Spreads and NCAA Lines Reviewed
After point spreads are established, you can then look at the moneyline bet. This is generally correlated to the point spread except it shows how money you can win based on your wager. Some sports do not use a point spread but rather just stick to a moneyline bet. For example, a team that was a -7 favorite would likely have a moneyline negative as well, say -200. That means, you would have to bet $100 to win $200. Alternatively there is a plus bet that goes with the underdog, say at 250. That means if you bet 100 and the underdog wins, you can win $250. Moneyline bets generally involve a higher wager to make money as opposed to point spreads. Moneyline picks are the most common wager instrument in the major sports of NBA, MLB, hockey, and soccer.
Nascar, PGA Golf and MMA UFC Betting Lines
In unique situations, where a game has a lot of prestige such as the NFL super bowl , NBA playoffs, or the Stanley Cup, you can bet on prop bets which are bets on specific things that could happen during a game. This is a play strictly based on odds of something happen against it not happening. An example might be whether a field goal would be the first type of score in the football game. At any time as people are betting one way or the other, the odds will adjust as people make picks one way or the other.
Premier League, British Open Championship and College Football Odds Every Week
Opening lines generally come out a week before an event but for major events like the Superbowl, it might be out for two weeks once the matchup is established. Football events opening lines generally come out on a Tuesday after all the previous weeks games have been played and is usually the sport most heavily used to gamble on. Basketball and MLB have games more frequently and usually the opening line might only exist for the day of an event.