Sports Betting Odds: How to Read Odds for Sports Betting

Understanding how to read tỷ lệ kèo is a crucial step to becoming a successful sports bettor. From determining how much money you want to wager on an NBA game to figuring out which Super Bowl bets offer the most value, it all starts with a solid understanding of how odds work.

If you’re new to sports betting, understanding how odds work is crucial. Whether you’re betting in a casino, on sports, or on any other event, knowing how to read and interpret different types of odds is key to placing smart bets.

The types of sports betting odds include:

• Moneyline Odds (American): widely used in the United States
• Fractional Odds (British): common in the United Kingdom and Ireland
• Decimal Odds (European): popular in Europe, Canada, and Australia

What Is a Push?

While not technically related to odds, a push will definitely affect your payout. Every bettor should be aware of the possibility of a push before they lay their first wager on sports.

Simply put, a push is a tie.

You will not see pushes when betting on the money line. If a sport allows a matchup to end in a tie, that’s an outcome you can bet on. You only need to consider the possibility of a push when betting against the spread or placing a totals bet.

If a push does occur, you will simply be refunded your money. It will not count as a win or a loss.

How U.S./Moneyline Odds Work

Moneyline odds (aka “American odds” or “U.S. odds”) are popular in the U.S.

• Favorites: Denoted with a minus (-) sign. The number shows how much you need to bet to win $100.
• Underdogs: Denoted with a plus (+) sign. The number shows how much you’ll win if you bet $100.

For example, if a team has odds of -150, you’d need to bet $150 to win $100. If the odds are +200, a $100 bet would win you $200. In both cases, your original bet is returned along with your winnings. The larger the gap between the favorite and underdog odds, the higher the favorite’s chances of winning.

Betting on the Moneyline

Let’s say a betting website (also known as an online sportsbook) priced an NFL game between the Pittsburgh Steelers and the Kansas City Chiefs with the following moneyline odds.

• Steelers: +585
• Chiefs: -760

The bookmaker has offered odds of +585 for the Steelers, which indicates that the bookmaker has placed a much lower probability (about 15%) that the Steelers will win the game. Therefore, if you risk $100 on the Steelers, you could win $585.

If the Steelers pull off the upset, you get back your initial stake of $100 in addition to the $585 you won, for a total payout of $685.

If you decide to bet on the Chiefs—the team that, according to the bookmaker, has a higher probability of winning the game—you would need to bet $760 to win $100. If the Chiefs are victorious, you will win $100, for a total payout of $860 (initial stake of $760 + profit of $100).

In this matchup, there is a big difference between the two odds, indicating a much higher probability of the Chiefs winning the game. Often the odds are much closer.

What Are Vegas Odds?

Vegas odds (aka “Las Vegas odds”) are a form of American moneyline odds used in sportsbooks. They can include a point spread representing the expected margin of victory. This allows bettors to wager not only on the winner but over or under the bookmaker’s predicted point spread.