So, with the odds from the American Odds example above, here is an illustration of how that would work. Implied Probability = 100/(Positive Odds + 100) = 100/(120 +100)
Also known as US odds or moneyline odds, American odds are the default betting odds used by American sportsbooks. American odds are centered around winning or wagering $100 on a given bet, with odds represented by a plus (+) and minus (-) sign to indicate the favorite and underdog.
Implied probability = 100 divided by (130 + 100) Implied probability = 100 divided by 230. Implied probability = 0.4348. So the implied probability of the Lakers winning the game is 0.4348 (or 43.48%). In this instance, the bookmakers believe the Lakers are a 43.48% chance of winning the game.
The over/under betting odds, or the totals, work differently for each sport. If the number is 42 in a football game and you bet the over, you would need 43 points total between the two teams. In baseball betting, it is the number of runs scored that sets the total.
American odds next to a point spread or over/under. The second way American odds are used is next to a corresponding line, like a point spread or over/under. The odds dictate how much you have to risk, but not what needs to happen for you to win the bet.
If you pick Team A and they win, you will be rewarded for your wager. The next football wager that consumes many bettors is the over/under. The over/under is a total bet that is determined by the number of points scored in a game. Vegas odds will list a total number for every NFL and NCAA football game.
American Football decimal odds are easy to understand, because they represent the payout you'll get if you win – e.g. 3.4 means you'll receive 34 for every £10 you bet, including your stake, if the bet wins. The American Football odds shown in the blue boxes are set by the layers, and the odds shown in the pink boxes are set by the backers.
American football Point Spreads (also known as betting lines or handicaps) is an estimated ...