Guide to Reading Betting Odds: What they Mean & How to Use Them

Sports wagering is much more involved than just picking a winner or a loser. Odds show us the probability of an outcome, giving a value to each bet you make, whether on points, a straight-up winner, or any other number of things in the game. What do these numbers mean? How are you supposed to read them? How can you use them to help decide whether or not to make a bet?
On today’s show, our host Gary Segars will explain betting odds, what they mean, and how you can use them to make your bets.
Guide to Reading Betting Odds 0:00
What are Betting Odds? 0:39
Fractional Odds 1:13
Decimal Odds 1:42
American Odds 2:03
How to determine Payouts from Odds? 2:50
How Odds imply Probability 4:15
How to use Odds to find value for your bets 5:30
#HowToBetOnSports #BetUS #BettingOdds

[@BetUSTV]

In this video: Guide to Reading Betting Odds 0:00 What are Betting Odds? 0:39 Fractional Odds 1:13 Decimal Odds 1:42 American Odds 2:03 How to determine Payouts from Odds? 2:50 How Odds imply Probability 4:15 How to use Odds to find value for your bets 5:30

[@ugatreydawg]

Great video. Very well explained. Thank you.

[@BetUSTV]

Thanks for watching Trey, if you enjoy betting we have NBA, NFL, CFB, CBB, Soccer, Boxing & a lot more of shows in our other channels. Go give them a look 😉

[@demetrusthrower9856]

I bet against every team that is recommended to play,and iam winning keep up the picks ©😄

[@quietone1201]

I got lost when it went from 160 to 190. Other than that I think I understand now. If I bet the spread in college football and I like the key number let’s say the favorite is -7 with-110 and the underdog is +7 -105… should I take the underdog because the juice is better or should I do the implied probility to find out the teams percentage of winning and then make my selection? Let’s say the-7 -110 favorite has a 65% chance of winning… Do I take the favorite? I’m trying to understand.

[@garysegars7726]

Hey hey! Sorry for the delayed response! Typically when you have an underdog of +160, the odds for the favorite will be around -190. The graphics there were just explaining the formula for how to find the implied probability. As for your question regarding college football - if you have a -110 point spread favorite, the underdog will almost always be -110 as well. The odds pairings on spreads typically go like this: -110/-110, -105/-115, +100/-120, +105/-125, etc. You're not always looking just at the odds on the point spread to see whether or not you should be the favorite or dog - that has more to do with the actual points (the -7 vs -7.5, etc), but you do want to make sure and find the best number when it comes to both odds and spread. Let me know if that helps!

[@keithcarroll6770]

How is -120 better than -135

[@BetUSTV]

At -120 you would have to bet $120 to win $100, at -135 you'd need to bet $135

[@keithcarroll6770]

@@BetUSTV ok understand what about +120 and -140

[@garysegars7726]

@@keithcarroll6770 +120 is better odds than -140. +120 means if you bet $100, your profit would be $120, but -140 means you'd have to bet $140 in order to win $100.

[@adamddd5692]

​@@keithcarroll6770think of it like numbers on a line 0 is in the middle positive better negative less money

[@redbirdsjunkie]

@@garysegars7726One more question just to be clear clear...I see both negative odds every day on player props, for example a player's points line can say Over 21.5 -120 / Under 21.5 -110, would this imply the better value is to take the Under at -110 but neither line is a favorite? The double negative odds on player props always gets me confused.