How To Odds Work In Sports
- Sports Odds Explained
- How To Odds Work In Sports Teams
- Betting Odds How It Works
- How Do Gambling Odds Work
Sports betting is extremely popular. You love the sport. And you love betting.
Boxing, maybe more than any other sport, particularly lends itself to the art of wagering.
How Sports Betting Odds Work With The Point Spread. Arizona Cardinals +1.5 (-110) NY Giants -1.5 (-110) This is a point spread from the NFL Games of the Year at DraftKings Sportsbook New Jersey, which includes all of the lines for Week 1 of the 2020 NFL season. Using the following simple formula: Stake x Decimal Odds = Total Payout. Another way of thinking about these numbers is that they represent how much a winning ticket will be worth if you bet $1. In order to spot the underdog and favorite, just keep in mind that. The lower the number, the more favored. Understanding odds is the key to figuring out which bets are worth taking; Odds are displayed in a variety of different formats, but all are easy to understand; You can use odds to calculate the implied probability of a certain outcome in a sporting event; Understanding how to read odds is a crucial step to becoming a successful sports bettor.
But to be successful, there are a few things any bettor should know especially when considering the sport of boxing.
Boxing odds are a bit different from other sports.
We’ll explain those differences in this article and equip you with the know-how and some special tips to make you a confident boxing bettor.
Table of Contents
How Do You Read Boxing Odds?
Understanding money lines is an important first step to reading boxing odds.
Boxing odds are written in money lines rather than fighter odds because, in boxing, the odds aren’t always a whole number.
Boxing odds are written with plus (+) and minus (-) symbols, and to read boxing odds, you need to know what those symbols mean.
‘Money Line’ and Fighter Odds
Many would say that betting the money line is one of the easiest and simplest ways to bet in sports.
Here’s how simple it is — you place a bet, and if you pick the winner, the sportsbook will pay you the amount owed.
In boxing, money lines are simply another way to express fighter odds.
Let’s say you’re considering placing a bet and you see the money line +400.What does that actually mean?
It’s just another way to express the odds.
In this case, +400 means the odds are 4 to 1.
It’s as simple as that. Kinda.
The + and – signs are significant — we’ll explain in more detail below.
But for now, an example may suffice.
Let’s take the +400 mentioned above. This would be 4 to 1 for the underdog. If you bet $100, you would win $400.
However, let’s say you are looking at – 400. This means the favorite has 4 to 1 odds. You would have to bet $400 for every $100 you want to win.
Does this sound confusing? Keeping reading to clear things up.
Boxing Odds Explained: Minus (-) vs. Plus (+) Money Lines
You want to know how odds work in boxing.
Maybe you’re familiar with the lingo —
- Laying money
- Taking a price
- “Pick ‘em” fights
But what do those terms really mean?
Before you put your money down, you’ll want to have a better understanding of the terms, what they mean, and how they express the odds.
Before looking at the details, a few basics you should know are:
- The minus (-) refers to the favorite.
- The plus (+) refers to the underdog.
- The number with the (-) is the amount you have to bet to win $100.
- The number with the (+) is what you win if you bet $100.
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Laying Money (-)
Now that you know the basics, let’s dig into the details.
As mentioned above, the (-) identifies the favorite and expresses the amount you must bet to win $100.
But what does the phrase “laying money” mean?
It simply means, that when you look at the two options (boxers, in this case), you will lay your money on the side of the favorite.
But laying money comes with a risk — betting more than what you will make if you win (concerning profit).
Let’s look at some examples again to make it clearer:
- Let’s say the favorite goes up at -500 money line. The bettor who chooses this favorite would put up $500 to win $100. If this fighter wins, the bettor would win $100 and get their $500 back, thus risking 5 times more than he’ll win.
- The same scenario above would be true with a lesser bet. Say the bettor lays down $50 on the favorite. If he wins, he’d win $10 — still risking $5 for every $1 in winnings.
Taking a Price (+)
Taking a price is a different situation than laying money, and taking a price identifies the underdog.
The term “taking a price” has to do with how much the bettor will have to pay to make a bet — putting a price on a bet.
One way to think about it is the opposite of laying money. For every dollar the bettor risks, they are going to profit in a greater proportion.
Let’s look at another example to explain:
- The bettor sees a +300 underdog. The “300” signifies to the bettor that if he bets $100 and the underdog wins, the bettor will profit $300, plus their original $100 bet.
- Again, this scenario works with different amounts. This same bettor could bet $10, and if the underdog prevails, then the bettor would win $30. Again, the ratio determines the win amounts. Basically, in this case, for every dollar the bettor bets, he will profit $3 if the underdog wins — thus, the 3 to 1 ratio.
‘Pick-em’ Fights
What if there isn’t a clear favorite? What if the fighters are equally matched or one has only a slight advantage?
This occasionally happens, and in this case, both competitors will have a (-) before the price.
These scenarios are called “pick ‘em” fights and they might look something like this:
- Fighter X – 110
- Fighter Y -110 (The bettor would win $10 for an $11 bet.)
Or
- Fighter X -120
- Fighter Y -110
In either of these cases, the bettor will need to lay a price on both of the fighters and simply pick one to win.
Why bet on both?
Since there aren’t any real “odds”, this gives the sportsbook an opportunity to turn out an advantage.
How Do Odds Work in Boxing? Use the Odds to Determine Possibilities
Now that you know the basics of betting odds or more specifically, how odds work in boxing, it’s time to learn how to use that knowledge to make reasonable bets.
How can you use this information to know which competitor is the best bet — or which bet will deliver the best value?
In other words, which bet will deliver a payout better than you imagine it should?
Convert the Odds to Percentages
One way to determine value is to convert the odds to percentages.
This basically means that the bettor can convert the money line odds to a percentage of a chance to win and place the wager that way.
The bettor needs to answer the question, “Does Fighter X have a bigger chance of winning than Fighter Y?”
The best way to figure that out is to put some basic math skills to work and let the percentages — or chances of winning — speak for themselves.
When You Might Choose the Favorite to Win
Here’s how it works. (We’ll use odds that end in even percentages to make it straightforward.)
Let’s say Fighter X goes up at – 400. Remember, this represents a “to a dollar” bet. We could say that this fighter’s odds are 4 to 1 — if he wins, you’ll get paid 4 to 1.
However, to consider the odds as a percentage, we need to look at it this way: Fighter X has 5 out of 6 chances of winning. This converts to 80% (5 divided by 6 and then multiplied by 100).
So, should the bettor gamble on Fighter X?
Yes, as long as the bettor is confident that the favorite has more than an 80% chance of winning.
When You Might Choose the Underdog to Win
You can think about the underdog similarly.
If the underdog goes up at + 300, it does not mean that he has 1 out of 3 chances of winning. Rather, it means that he has 3 times the chances of losing.
Converting these odds to a percentage can help.
With +300 odds, we can say that this fighter has 1 out of 4 chances of winning. When we turn that into a percentage (1 divided by 4, then multiplied by 100), we see this fighter has a 25% chance of winning.
If the bettor believes that this fighter has more than a 25% chance of winning, then this might be a good bet.
In the end, whether the bettor is looking at the favorite or the underdog, if there isn’t a clear way for the fighter being considered to win, he may be better off avoiding the bet altogether.
How Does Boxing Betting Work? 5 Types of Boxing Bets
This question has a multifaceted answer.
There are several types of boxing bets, and taking a look at a few examples of each may help you determine where you are most comfortable.
#1: Money Line
As mentioned before, betting the money line could be considered the simplest and most straightforward type of bet.
Essentially, you are betting on the victor.
Who do you think will win based on the odds? Consider the following situation:
- Fighter X goes up at – 600
- Fighter Y goes up at + 400
The bettor may look at this setup and decide that Fighter X has a better chance of winning, and places his bet on the favorite.
#2: Number of Rounds (Over/Under)
Over/under betting is based not on who will win the match but on how many rounds the bettor thinks the match will last.
Consider Fighters X and Y above, let’s say the book lists an over/under of 8.5 rounds:
- over, – 600
- under, + 400
If the bettor thinks the fight will last into the 9th round, he should choose the “over.”
On the other hand, if he thinks the fight will be stopped in the 8th round or before, he should take the “under.”
#3: Victory Betting
Sports Odds Explained
Victory betting deals with how the victor will win. Wins can be determined by:
- Knockout – KO/Technical knockout – TKO
- Points/decision
- Submission
- Disqualification
In our example above with Fighters X and Y, a bettor may wager on Fighter X KO/TKO. For the bettor to win the wager, Fighter X would have to win the fight with a knockout or technical knockout.
#4: Proposition Bets
Proposition bets, or “special” bets, allow the bettor to bet on different features of a fight.
Some aspect the bettor may choose from are:
- Knockouts
- Knockdowns
- Point deductions
- Type of punch to land first
- Duration of the fight
- Decision of fight
- Draw
#5: Scorecard Spread
Betting on scorecard spread concerns the difference in points fighters earn in a fight.
Points can be given for:
- Winning by stoppage
- Winning by decision
- Draw
A spread between Fighters X and Y may look something like this:
- Fighter X – 13.5
- Fighter Y – 6.5
How To Odds Work In Sports Teams
If Fighter X wins by 14 or more, the bettor wins his wager.
Beyond How Odds Work in Boxing: Other Factors to Consider When Placing a Wager
To end our discussion of how boxing odds work, it may be helpful to take a look at some other elements that may help a bettor make an informed wager.
- Styles of boxing – Consider how the boxing style of the fighter. Does he bounce around the ring? Does he jab hard? What is his style like compared to his competitor?
- Fighting history – Who has the fighter competed against in the past? Have the fights been evenly matched? What level of competition has the fighter experienced before?
- Tale of the tape – Looking at stats like height, weight, age, record, etc. can help the bettor see if there is a clear mismatch.
- Physical shape – The bettor wants to place bets on fighters who are in good physical condition and are training consistently.
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WHAT IS SPORTS SPREAD BETTING?
Sports Spread Betting is without doubt the most exciting form of sports betting available. Here, we address some key topics and answer some common questions; use the list below to jump to the section that you're interested in:
- Sports Spread Betting Explained
- Is Sports Spread Betting Risky?
- How To Place A Spread Bet On Sports
- Sports Spread Betting For Beginners
- How Does Spread Betting Differ From Fixed Odds Betting?
- Sporting Index £50 Welcome Offer
- SPORTS SPREAD BETTING EXPLAINED -
It's important to understand the concept of the terms 'Buying' and 'Selling'. This really is one of those things that sounds complicated but is actually very simple. Fundamentally, the 'spread' is the range within which we believe the result of a given market will fall. This spread is comprised of two numbers - a 'Sell' price and a 'Buy' price. If you think the final result of the market will be greater than the Buy price then you would 'Buy'. Conversely, if you think it will be less than the Sell price then you would 'Sell'.
In football for example, the spread for the Match Total Goals market might be 2.9-3.1 - this simply means that, on average, we think there will be a total of three goals in the game. If you think there will be more than three goals in the game you would 'Buy', but if you think there will be fewer then you would 'Sell'. It really is that simple!
Below, we answer common sports spread betting questions, explain how to place your first spread bet and supply some sports spread betting tips for beginners.
- IS SPORTS SPREAD BETTING RISKY? -
The amount of risk involved is entirely up to you and there are a number of steps that you can take to avoid taking on more risk than you would like.
1: USE SMALL STAKES – You can stake as little as 1p on selected markets. You might not win big amounts with small stakes but you can be confident that the size of any potential losses will be small and your betting bank will go further, allowing you try out a greater variation of our markets.
2: PICKING THE RIGHT MARKETS – The markets we offer have varying degrees of volatility. A market such as Total Goals in a game of football is unlikely to experience a result that is too far from the spread. Total Goal Minutes, however, could well settle a long way from the spread, in either direction. Read more about how football spread betting works.
3: CUT YOUR LOSSES – If you have placed a bet that is clearly going against you, the safe option could be to protect your balance and cash out of the position before it gets any worse. Cut your losses early and protect your betting bank.
- HOW TO PLACE A SPREAD BET ON SPORTS -
Placing your first Spread Bet is possibly the most exciting bet you’ll ever place! For some, it’s a daunting prospect but we’re here to explain how to bet on a spread and enjoy it!
As explained above, for your first bet we recommend using smaller stakes and picking a low volatility market – that is, a market where the most likely outcomes are not going to be too far from the ‘Sell’ and ‘Buy’ prices. We’d also recommend that you pick a market that allows you to work out the worst case scenario. For example:
Total Goals in a football match may be priced at 2.8-3.0 and so the worst-case scenario if you place a ‘Buy’ bet is a loss of three times your stake because the lowest possible outcome is a settle price of 0 goals in a match that finishes 0-0. Here, if you had placed a ‘Buy’ bet with a stake of £5 per point the worst-case scenario is a £15 loss, calculated as:
(Settled Price – Buy Price) x Stake
(0 – 3) x £5
-3 x £5 = £15 Loss
Of course, it follows that if the game is a 3-3 thriller then the market would settle at six and the profit would be calculated as:
(Settled Price – Buy Price) x Stake
(6 – 3) x £5
3 x £5 = £15 Profit
Another example could be the Team Total Sixes market in an ODI Cricket match which may be priced at 4-5 and so the worst-case scenario if you place a ‘Buy’ bet is a loss of five times your stake because the lowest possible settle price is 0. Here, if you had placed a ‘Buy’ bet with a stake of £5 the worst-case scenario is a £25 loss, calculated as:
(Settled Price – Buy Price) x Stake
(0 – 5) x £5
-5 x £5 = £25 Loss
Again, it follows that if the Team hits ten sixes then the market would settle at ten and the profit would be calculated as:
(Settled Price – Buy Price) x Stake
(10 – 5) x £5
5 x £5 = £25 Profit
In each of the above cases you are in the position of being able to calculate what your worst possible loss could be whilst knowing that, with spread betting, for every additional goal scored or six hit over the ‘Buy’ price your potential profits increase!
Betting Odds How It Works
For new accounts: When using your Welcome Offer of £50 promotional betting cash, remember that this does not give you a £50 stake, or 'free bet', on a market, it simply covers any losses that you make up to £50 without requiring you to make a deposit! Using the above Total Goals example, let's look at what would happen if you tried to place a £50 stake on a 'Buy' bet, and then the worst-case scenario happened (a 0-0 result):
(Settled Price – Buy Price) x Stake
(0 – 3) x £50
-3 x £50 = £150 Loss
This is obviously more than the £50 of losses that your Welcome Offer would cover and so, depending on your account type, you would not be allowed to place this bet unless you made further deposits to cover the additional potential losses.
If you are new to spread betting and would like to be in complete control of your risk level then we would recommend that you request a 'Limited Risk' account – this particular account type will display the maximum potential win and loss amounts within the bet slip so that you will know exactly where you stand before placing each and every bet! If you would like to switch to a 'Limited Risk' account please contact our Customer Services team via [email protected] quoting your account number.
- SPORTS SPREAD BETTING FOR BEGINNERS -
If you’re new to sports spread betting then there a few things that you can do to ease yourself into it before you start upping your stakes and trying new markets. Here are the Sporting Index top sports spread betting tips…
1: Start with small stakes. We mentioned this above but it bears repeating! You probably won’t win a lot of money but more importantly, you’ll be in control of your losses. This means you can make your betting bank go further.
2: Stick to markets where you know the worst-case scenario and then build up from there. Good beginners’ markets are those that will not settle too far from the spread price – think Total Goals instead of Total Goal Minutes.
3: Make sure you know exactly what the market is and how the result is calculated. Most of our markets are intuitive but some are more complex; to find out how a market works use the ‘i’ symbol next to the market name.
4: If you’re not sure on anything, don’t get involved in the action – our excellent Customer Services team are always available to answer your questions.
5: Make the most of promotions! Make sure that you are subscribed to receive both emails and texts otherwise you’ll be missing out on our promotions that we send to thousands of clients every single week.
For more information on our markets and some sports spread betting examples you can navigate to the sport of your choice below. Cricket fans can find out how cricket spread betting works whilst if you’re a fan of horse racing you can get the low down on how to spread bet on horse racing here.
Use the grid below to navigate to your favourite sports and find out how to spread bet on them!
- HOW DOES SPREAD BETTING DIFFER FROM FIXED ODDS BETTING? -
With spread betting you can make better use of your sporting knowledge than with fixed odds. With fixed odds betting you have a simple 'win or lose' scenario and you know exactly how much you stand to win or lose as soon as you strike your bet. With spread betting, how much you win or lose is determined by how accurate you are. There are a great deal more than just two possible outcomes with spread betting and the more right you are, the more you win. By the same token the more a result goes against you, the more you stand to lose.
Take Batsman’s Runs as an example, with a fixed odds bet you might be offered a market on whether a batsman will reach 100 runs in a game. Let’s say the England captain’s odds on scoring 100 in a one-day game are 4-1 (or 5.0 in decimal odds). Were you to place a £10 bet on this you know that if the player gets his 100 runs you’ll get £50 returned and if he fails to break that mark you’ll have lost your £10 stake.
Now let’s say for the same match the England captain’s total runs spread is set at 60 – 65. Backing him to be a centurion you’d want to buy at the 65 ‘Buy’ price and staking £2 per point you’d be in profit for every run above 65 the batsman scores. Should he reach 100 then that’s a profit of £70 because 35 runs over the buy price multiplied by your £2 stake makes £70. But it doesn’t stop there because if that same batsman beds in and racks up a really meaty Brian Lara-sized total your profits improve yet further. In fact, every single run means more money. If he makes it to 150 runs that’s another £100 on your total win (50 more runs times your £2 stake makes £100) and should he reach 200 you’d find the market now at 135 points over and above the spread, turning your £2 stake into a £270 return.
With your fixed odds bet all that matters is the batsman’s reaching 100 – if he gets there, you get your money, if he fails, you lose. With your spread bet you’re going to be as invested in the batsman’s total runs scored as he is, willing him on to post a higher and higher total with every ball delivered! What’s more, the batsman scoring 99 runs and falling 1 short of a century would see your fixed odds bet lose. But your spread bet still makes a return of £68 because the market has settled at 34 points above the original spread ‘Buy’ price of 65 that you took (34 multiplied by your £2 stake means £68 back for you). Ultimately more runs means more money but of course on the flip side should the batsman post an underwhelming total, or worse yet fail to score at all, your loss is dependent upon just how far below your buy price the final score was. With your £2 staked at the buy price of 65 the batsman being out for a duck would see the market settle at zero and you’d have just lost 65 times your stake. Whereas if he makes just 50 runs, your loss is just 15 times your stake.
Obviously you would want to have heeded our advice above and know that your worst case scenario would be a loss of £170 buying at £2 a point. But as soon as the batsman is off the mark you know that worst case scenario has been avoided and every run scored brings you closer to the point at which you’re in profit and beyond! Additionally, since it is a more volatile market you may want to reduce your stake to 50p, for example.
- DO SPORTING INDEX HAVE A NEW ACCOUNT OFFER? -
Indeed we do, and it's certainly one of the more generous offers in the world of online sports betting. New accounts will receive £50 of promotional betting cash to bet with for seven days! Effectively, this money allows you to bet with us knowing that any losses that you do make in the initial seven day promotional period, up to the value of £50, are covered by us! This promotional betting cash is non-withdrawable and any losses that you make over £50 will be your liability to cover. However, any profits that you make on top of the £50 will be credited to your account as real cash at the end of the seven day promotional period. Bet with our money, not yours and learn how to spread bet with Sporting Index today!
Read the Full Terms and Conditions here. This promotion is only applicable to new accounts. Note that account opening is subject to suitability checks.
How Do Gambling Odds Work
Spread Betting involves risk. Losses may exceed deposits.