subject: Understanding Betting Odds and Lines in Sports [print this page] Understanding Betting Odds and Lines in Sports
These days there are so many people following sports that sports betting has emerged as one of the most exciting activities in the sports world. The demand for various sporting activities has led to the increase in demand for sports betting lines worldwide.
Sports betting odds are simply a manifestation of the chance or possibility of a certain result in an event. In any event, every result has a probability or chance of taking place. Odds are simply an elucidation of those chances. The bookmakers form odds or prices to reflect those chances.
Betting odds vary from game to game and from country to country. Every country has its own different sets and forms of betting odds. These betting odds are nothing but the amount of money that has to be paid by the bookmaker after winning or loosing any specific bet. The betting odds can be either positive or negative. On the other hand, betting lines are usually relevant to that sport only that have points based system such as football, basketball and tennis.
Most online bookmakers give you the choice of which type of odds you want to use:
Decimal Odds:
Decimal odds are used generally in Europe and also known as European odds. To convert chances into decimal odds just take the chance as a % and divide into 100.
Fractional Odds:
The more traditional fractional odds are often used in the UK. For example, the fractional odds are 4/1. This means every 1 time you win then 4 times you will lose. This is the same as saying you have a 20% chance of winning and an 80% chance of losing.
US Odds:
US odds are also known as lines or money line odds. If US Odds are indicated with a + sign then they signify the amount you would win for a 100 stake. If there is a - sign then that shows how much you need to stake to win 100.
Though it sounds easy, sports betting is not that simple. It actually takes a lot of logical and analytical skills on the part of the bettor to lay wagers on sporting odds and lines. To place and lay a bet it is very crucial to understand the two very important terms of the sports betting industry. The two most significant elements of sports betting are the sports betting odds and the sports betting lines.
