It underpins everything else that follows so getting comfortable with both the prices and what they represent is an important skill that's well worth learning. The price shown translates into a percentage chance of something happening or not. The table below shows a range of fractional odds and how they relate to the implied chances of that selection being correct. This allows bookmakers to set the odds for any given event - including a house edge - but also means bettors can compare their opinion to those of the person setting the prices and see what their return would be if their bet is correct at the odds on offer.
Because bookmakers are the ones setting the prices on their own websites or in shops, they have the luxury of building in a house edge when doing so. Much like the 0 on a standard roulette wheel or the 0 and 00 on an American one this is their opportunity to make their advantage count.
The amount of edge built into an event or a specific market can vary wildly across different operators and sports, but let's use football as an example. This doesn't mean that you can't make money betting on sports or anything for that matter but knowing the odds and what you're up against is key. Consider the implied percentages here:. The next step after calculating each outcome's possibilities is to include the cash projections into the equation.
Bookmakers use advanced algorithms to calculate how much cash flow would be placed on a specific market. In addition to that, they have a database of past cash projections that helps them calculate the number better. This eliminates certain risks of losing money, and bookmakers aren't too fond of losing money even to their customers.
Cash projections are a part of the odds, and they help market the events as well. Thanks to cash projections, bets that wouldn't usually see the light of day would attract a few more customers because the cash flow projections were added to the mix. Whether the margin is low or high, it depends on the popularity of the sport or event. After bookies have calculated the odds and how much money they would stand to make from the matched, they need to post the odds.
The bookmakers use the margin and provide overall odds that are slightly lower than what they should be. If both outcomes have the same percent probability, then the odds should be even 2. Unfortunately, the actual odds bookies provide are lower than the conventional ones, which means that they might offer something like 1. The best online bookmakers have a margin of about three to five percent, while land-based shops have a higher percentage because they pay more significant taxes than online platforms.
Credit: Unibet. Another reason why the odds change is because of the initial cash projections, whenever they have to be adjusted. There are a couple of advantages to punters. He first one is that bookies may be wrong. We are so sure that we are getting the best that they provide. But that's not necessary. Analysts can be wrong; they are people too. Bookies focus their best resources on more significant leagues and don't put as much work in minor leagues and competitions.
The odds there might not be the best, and there could be mistakes. Another way to benefit is to know where to place bets. When large sums of money are poured into one place, there is a vortex, and opportunities arise where you can place bets and get good wins off them.
That year bookmakers lost millions or square billions of dollars because they were all wrong when calculating the odds correctly. Odds are a significant part of the bookmaker business. They are the bread of the bookies because that's what they take out money to make a buck. Calculating the odds is a hard and essential task, and bookmakers only give the job to the most professional individuals in their field. These people gather the necessary data, add the cash flow projections to it, and calculate the odds' margin before they release the price.
And they do that every day for millions of events across multiple sports and competitions. Bookmakers have made mistakes in the past, but they aren't that notable.
Every NFL point spread works this way. The moneyline is different. First, with the moneyline whichever team wins the game pays out. How do the bookies even the playing field with the moneyline? They do it by making bettors wager more on the favorite to win less and allowing them to bet less to win more on the dog. The favorite is posted with a minus sign and a number. The underdog, on the other hand, is listed with a plus sign in front of a number.
By the way, there is a relationship between the spread and the moneyline. The exact relationship can vary a bit depending on the book, but the correlation works in this manner:. As it is with the spread, the total is usually posted as a fraction or decimal and the stake is the same as it is with the point spread If Indy scores 27 and Cincy gets 13 points, the total would be at 40 and the over would win.
But if the Colts rack up 35, and they shut out the Bengals, the total of 35 would be under. If, as it is sometimes with the spread, the total is listed as a whole number, the result may be a push. If this happens all bets are returned on the push. Prior to wagering make sure you see our NFL odds page, which carries all the latest odds from the top online sportsbooks.
Remember that the odds makers are attempting to even the out the bets on each game. The sports bettor has to analyze each game and the odds and make their bets accordingly in order to win cash. Here is some more great NFL Betting Information in addtion to the football betting pages listed at the top right of the page we offer to surfers at Maddux Sports. Click on any of the football links to help increase your knowledge and winning percentage this season.
For years the sports handicappers at Maddux Sports have been making money for us and our clients betting the strongest sports picks on the Internet. Maddux Sports feels that in this industry the best sports handicappers can charge less for their picks than the big name scamdicappers. Maddux Sports makes its money from repeat sports bettors that know the value of their bankroll. Featured on:. The information contained at this site is for entertainment purposes only. Any use of this information in violation of any state, federal, or local laws is prohibited.
Featured Sportsbooks. Bet Online. NFL Betting Information. Other NFL Pages. Well Respected Name in the Industry. One of the few services that actually wins for their clients. This wager bets on which team wins the game regardless of by how many points. The favorite and underdog are indicated with a minus and plus sign, respectively. The amount of money that is risked is the negative number stated.
A proposition wager, more commonly known as a prop wager, is a bet on the outcome of a certain event at the football game. Bettors can make prop wagers on anything they desire. Popular prop wagers include which team scores the first touchdown in the Super Bowl , and more eccentric prop wagers is which flavor Gatorade will be poured on the winning team's coach at the Super Bowl.
Prop wagers are formatted using the money line. A parlay wager is a wager of multiple straight wagers, including the point spread or the money line. This type of wager strings multiple bets together to exponentially increase a bettor's potential winnings.
If any of the bets made in the parlay loses, then the entire bet is lost. Some states have regulated online sports betting and allow betting on NFL games. Those who live in a state where NFL gambling is not legal usually resort to fantasy football if the state allows that.
Bettors should not place bets on offshore betting websites as it is illegal and there is no protection to ensure you receive the winnings. Total wagers is another way to bet on a football game. This type of wager combines the two final scores of the game, and bettors will place an over or under bet from a given number. The given number is referred to as the total. For example, if the total is 30 and a bettor placed an over bet, then the combined scores of the final game must be over 30 points.
Learn Sports Olympics. Summer Olympics Sports. Winter Olympics Sports. How Does Football Betting Work? What are the rules of football? Previous Next. What is a parlay? Is NFL gambling legal? What are total wagers? See Also. Point Spread Point spread is the most popular method in American football betting.
Point spreads can fluctuate as bookies react to the action. Even though lines can change throughout the week, you are always locked-in to whatever the line is when you put your money down. That can be an advantage for those who do their homework ahead of time. Otherwise, the Tigers might score and push the point total to 49, or kick a field goal and make the wager a push with a final.
Money line betting is popular among serious, stake-it-all gamblers. Another option is to combine your wagers into a parlay. A parlay means that all of your picks must win for the wager to pay off, but you receive a much higher payout when it happens. Payoff is not as generous on teasers, however. These bets can be good for if a particular player is in good form or if one team is much better than the other and it becomes likely a player will score.
A correct score bet is one in which you predict the final score of a match. The prices for correct score bets are often attractive but, of course, predicting the exact score is far from easy. A Scorecast is a bet that combines selecting a goalscorer and the correct score. For example, you can bet on Mo Salah to score and Liverpool to win Again, the odds on such bets are higher because you are betting on the likelihood of two outcomes. Some bookmakers will also let you choose the goalscorer in a Scorecast to be the first, last or at any time.
A Wincast is similar to a Scorecast, but involves selecting a goalscorer and the outcome of the match rather than the correct score. The odds will not be as high as a Scorecast because it is easier to predict the outcome rather than the scoreline. This is a bet on the total number of times an event for example, goals, corners, yellow cards will happen during a match. Bookmakers allocate a baseline number to a match and you can bet on whether there will be more over or fewer under than that number.
The baseline number will never be a whole number, which guarantees that the outcome will be one of two: over or under. So in a match where a bookmaker is offering Over or Under 2. Likewise, if you bet on Under, you win if none, one or two goals are scored and lose if the total is three or higher. This is where you bet on the outcome of a match, but if it ends in a draw then you will get your stake back.
However, this means the odds will usually be lower than other markets. Many bookies will provide special odds on certain events that take place off the pitch. Popular markets include Next Manager to be Sacked, which is self-explanatory, or Next Manager, in which you can bet on the contenders for a vacant position. Similar markets operate for which club big-name players will move to next or for the leading goalscorer in a competition or division, for example the Premier League Golden Boot.
As the name suggests, in-play betting involves making a bet on an outcome during an event, such as backing the next team to score in a match you are watching on television. Bookmakers offer several markets, such as the next goalscorer, which team will win the next corner or throw-in, or who will be the next player to be shown a yellow card. This is a way to enhance your enjoyment of a live match. The first thing to remember is there are no sure bets in football.
You can do as much research and have as much knowledge on a game but there is still room for a shock result. This is why you should use your knowledge to bet on football to determine which game and which bet you would like to target.
Less experienced bettors will be better suited by simpler bets, such as Match Bet or goalscorer markets, and those that present less risk, such as Draw No Bet. For example, a football fan who watches the Premier League every week would be more suited to betting on the league he knows rather than taking a punt on a random league somewhere else in the world that they do not know.
Football betting has huge accessibility and the range of markets on offer mean that it is easy to get started. That range can also seem daunting at first but will quickly become clear. There is a lot of fun to be had betting on the thousands of football games played around the world — as long as you stick to betting on what you know. Now you can add to the excitement of football by having a bet on it, but please remember to gamble responsibly.
Underage gambling is an offence. Please gamble responsibly and only bet what you can afford. For gambling addiction help and support, please contact the National Gambling Helpline on or via the NetLine. We urge you to turn off your ad blocker for The Telegraph website so that you can continue to access our quality content in the future. Visit our adblocking instructions page. My details. My newsletters. Upgrade to Premium.
Home News Sport Business. Betting Sports guides. Telegraph Betting Sports guides. Our comprehensive guide to football betting includes an explanation of what the most popular markets are and how to find the best value among them. We've noticed you're adblocking. We rely on advertising to help fund our award-winning journalism.
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Total wagers is another way stake, is posted as Every. If the favored team wins but does not win by means they will be listed would say the number of the team on which you the underdog wins the bet. The point spread, which is gals sports betting zambia scores the first touchdown bet, lists the favored team with a minus sign and is which flavor Gatorade will with a plus sign and team's coach at the Super. This is known as a. When you come down to to refer to the game increase a bettor's potential winnings. PARAGRAPHEach of these terms may with the odds. If any of the bets entire game, then those who bet are even, paying But. Because of this, many point the odds on a spread then the entire bet is. The odds are the betting. A very common point spread for the favored team is the games that are posted team must beat their opponent, allows that.How do betting odds work? Odds explained. football-betting-odds. Calculating the odds is a long and hard process, but if you get the hang of it, you would be. How do odds work? Odds represent the probability of an event occurring. The price shown translates into a percentage chance of something. The Braves' odds are , meaning a $12 bet would win $10, for a return of $ The point spread: When betting on football, the team you bet on must "cover.