What Does 8 To 3 Odds Mean?
If you back Boston (+7) to cover the spread for $100 (-110), that means you don’t need the Celtics to pull off the upset. All you need is for the Celtics to lose by six points or less to cash out. American sports bettors are certainly some of the most capable bettors out there, as they deal with rather complex representations of probability and potential winnings.
In fact, baseball, hockey, and soccer commonly set the run or goal line at 1.5, which rarely changes. The underdog will almost always be listed at +1.5, while the favorite will be listed at -1.5. The handicapping, sports odds information contained on this website is for entertainment purposes only. Please confirm the wagering regulations in your jurisdiction as they vary from state to state, province to province and country to country. Using this information to contravene any law or statute is prohibited.
If you bet on an underdog, they must either win the game outright or lose by a smaller margin than the assigned point spread. So, for example, if I bet on the Philadelphia Eagles (+3.5) and they lose by three or fewer points or win the game outright, I would win my bet. There are some benefits and some risks associated with betting on futures.
A wager on Wisconsin means they must win by two points or more to cover the spread. Meanwhile, betting on the Hawkeyes in this game means they need to win or lose by a single point to cover the spread and win the bet. If Duke is victorious, one wins $100 with a total payout of $860 (initial stake $760 + profit won $100). Bettors should determine the straight-up winner of the match or event, which makes this betting type straightforward. Besides the option to choose a winner of the game, a 3-way moneyline bet provides an additional opportunity of placing a wager on a draw.
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. This means that a chance of an event occurring can be converted and presented in any of the aforementioned types of odds.
In our example, the figure is -120, and it indicates that you must risk $120 to win $100. If one team is expected to win, the odds need to reflect enough enticement for people to place bets on that team. Conversely, if one team is the underdog the odds need to be attractive enough to generate bets to counter all the bets on the favorite. Many bettors can identify a point spread, but they don’t exactly know what it means. This guide is filled with many useful betting tips to help you understand point spreads, puck lines, money lines, and run lines.