One of the most important aspects of betting on sports is understanding the odds. When you are placing a bet, it’s always smart to know what you’re up against.
Understand how Bookmakers are Reporting the Numbers
If you are using different sites, there are differences in how they present numbers, so it can be difficult to understand. Some will show you how much you’ll win if you bet $100, while others will show your risk and reward at 50/50 odds.
Your Edge to Win
If you know these numbers before placing your bet, then you’ll know what to expect. It is also important to note that the sportsbook will offer different lines for different games.
For example, football might be offered at -110 odds while basketball might be offered at -120 odds. That means that if you were betting $100 with a football game and won, then your profit would be $90 ($100 x (-110)).
But with basketball, if you were betting $100 with the same game and won, then your profit would only be $80 ($100 x (-120)).