When you first begin to follow football, it can be quite confusing. With so many different types of bets available and a seemingly endless stream of numbers, it’s easy to get confused. But once you understand how things work, it becomes much simpler.
Here you will find everything you need to know in order to read sports betting odds like a pro. You see, there are many people who have no idea how these numbers work or what they mean; however, with the help of this article and some practice, you will be reading them like your grandmother reads her favorite book in no time.
What Are Football Odds?
Odds are the numbers you see when you are betting on football. These numbers help bookmakers to calculate how much they will profit, depending on the outcome of an event. If you want to place a bet on the outcome of a football match or some other event, you will most likely have to put some money on the line.
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The amount of money you can win is calculated based on a fraction called the odds. The odds are calculated by bookmakers based on information about the teams, the match situation, and other relevant factors. In order to calculate the odds, the bookmakers also have to estimate the likelihood of each outcome as well as the probability of each outcome.
Decimal vs. Fractional Odds
There are two different ways to express odds in football betting: decimal and fractional. Decimal odds are the most common way and are used by almost all bookmakers. Fractional odds, on the other hand, are used only in the UK.
If you see odds that are written in fractions, it is generally easier to convert them to decimals than to work with the original numbers. Decimal odds are calculated by taking the total amount you would win, subtracting the amount you would have to wager, and then dividing the remainder by the amount you would win if you win.
For example: If you bet $100 on the Miami Dolphins to win $150, and they actually win, you’ll get $250 ($150 + $100). The odds are $250 ÷ $100 = 2.50. Fractional odds are calculated by taking the total amount you would win, subtracting the amount you would have to wager, and then dividing the remainder by the probability of winning.
For example: If you bet $100 on the Miami Dolphins to win $150, and they actually win, you’ll get $250 ($150 + $100). The odds are $250 ÷ 0.50 = $500.
Converting Fractional Odds to Decimal
If you come across football odds written in fractions, it is important that you convert these to decimals in order to be able to calculate the potential winnings. You can easily convert fractional odds to decimals by simply removing the “÷” sign and multiplying both sides by 100.
For example: If you bet $100 on the Miami Dolphins to win $150, and they actually win, you’ll get $250 ($150 + $100). The odds are $250 ÷ 0.50 = $500. If you convert this to decimal, you get 2.50.
Decimal to Fraction Conversion
The first thing that you need to do when reading football odds is to convert the decimal to a fraction. To do this, you simply divide the decimal by the last number in the set of football odds. For example, if you see football odds that read -120, or +250, you first need to convert the decimal to a fraction. To do this, you divide -120 by +250. This will give you a decimal of -0.2 and a fraction of 1/5. Since the first number in the set of football odds is a decimal, you will actually convert the second number to a fraction as well. In this case, 1/5 will become 1/6. You simply multiply 1/5 by 6 to get 1/6. Once you have both numbers as fractions, you can easily read the football odds and understand what each set of numbers means.
How to Read Point Spreads
Next, we will go over how to read point spreads. A point spread is found on the NFL, NCAA, and CFL football odds. When you are reading point spreads, the first thing that you need to do is determine what the favorite is and what the underdog is. The favorite is the team that is expected to win, while the underdog is the team that is expected to lose. If you see point spread football odds that read +6.5, -6.5, +6.5 means that the favorite is the team with the +6.5, and they are expected to win by 6.5 points. -6.5 means that the underdog is the team with the -6.5, and they are expected to lose by 6.5 points. The point spread is the number of points that the favorite is expected to win by.
How to Read Money lines
Next, we will go over how to read money lines. A money line is found in baseball, hockey, basketball, and football odds. When reading money lines, the first thing that you need to do is determine which team is expected to win. In this case, the team with the negative money line is expected to win. The positive money line team is expected to lose. If you see football odds that read +150, -150, +150 means that if you bet $100 and the team wins, you will win $150. -150 means that if you bet $150 and the team loses, you will win $100. The money line is the amount of money that you win for every $100 that you bet.
How to Read Match-Up Odds
Next, we will go over how to read match-up odds. A match-up odds is when two teams are facing each other, and you have the option to bet on either team to win. When you are reading match-up odds, you will see the home team, the away team, and the line. The home team and away team are the two teams that are playing each other. The line is the point spread between these two teams. If you see football odds that read -3, +3, and -3 means that the home team has a line of -3, and they are expected to win by 3 points. +3 means that the away team has a line of +3, and they are expected to win by 3 points. The line is the point spread between these two teams.
Conclusion
Reading football odds like a pro may seem like a difficult task, but with the right information and strategies, it really isn’t all that difficult. As long as you understand the basics and remember to convert the fractional odds to decimal, you will be reading football odds like a pro in no time.
