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For instance, one of the renowned betting websites priced the candidates to win the U. Presidential Election. Donald Trump: 4. The higher the total payout i. In both cases, you get your initial wager back, in addition to the amount won.

The difference between the odds for the favorite and the underdog widens as the probability of winning for the favorite increases. In this matchup, there is a big difference between the two odds, indicating a much higher probability of Duke winning the game and advancing to the next round of the NCAA Tournament.

If you are planning to enter the betting or the gambling world, it is important to be able to understand and interpret all types of odds well. Trading Psychology. Business Essentials. Wealth Management. Your Money. Personal Finance. Your Practice. Popular Courses. Key Takeaways The three main types of betting odds are fractional British odds, decimal European odds, and American moneyline odds. These are simply different ways of presenting the same thing, and hold no difference in terms of payouts.

Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Related Articles. In casual use, the words odds and chances or chance are often used interchangeably to vaguely indicate some measure of odds or probability, though the intended meaning can be deduced by noting whether the preposition between the two numbers is to or in.

Odds can be expressed as a ratio of two numbers, in which case it is not unique — scaling both terms by the same factor does not change the proportions: odds and odds are the same even odds. Odds can also be expressed as a number, by dividing the terms in the ratio — in this case it is unique different fractions can represent the same rational number. Odds as a ratio, odds as a number, and probability also a number are related by simple formulas, and similarly odds in favor and odds against, and probability of success and probability of failure have simple relations.

Analogously, given odds as a ratio, the probability of success or failure can be computed by dividing, and the probability of success and probability of failure sum to unity one , as they are the only possible outcomes. In case of a finite number of equally likely outcomes, this can be interpreted as the number of outcomes where the event occurs divided by the total number of events:. This is a minor difference if the probability is small close to zero, or "long odds" , but is a major difference if the probability is large close to one.

These transforms have certain special geometric properties: the conversions between odds for and odds against resp. They are thus specified by three points sharply 3-transitive. Swapping odds for and odds against swaps 0 and infinity, fixing 1, while swapping probability of success with probability of failure swaps 0 and 1, fixing. Converting odds to probability fixes 0, sends infinity to 1, and sends 1 to.

In probability theory and statistics, odds and similar ratios may be more natural or more convenient than probabilities. In some cases the log-odds are used, which is the logit of the probability. Most simply, odds are frequently multiplied or divided, and log converts multiplication to addition and division to subtractions.

This is particularly important in the logistic model , in which the log-odds of the target variable are a linear combination of the observed variables. Similar ratios are used elsewhere in statistics; of central importance is the likelihood ratio in likelihoodist statistics , which is used in Bayesian statistics as the Bayes factor. Odds are particularly useful in problems of sequential decision making, as for instance in problems of how to stop online on a last specific event which is solved by the odds algorithm.

The odds are a ratio of probabilities; an odds ratio is a ratio of odds, that is, a ratio of ratios of probabilities. Odds-ratios are often used in analysis of clinical trials. Answer: The odds in favour of a blue marble are One can equivalently say, that the odds are against. There are 2 out of 15 chances in favour of blue, 13 out of 15 against blue. That value may be regarded as the relative probability the event will happen, expressed as a fraction if it is less than 1 , or a multiple if it is equal to or greater than one of the likelihood that the event will not happen.

In the first example at top, saying the odds of a Sunday are "one to six" or, less commonly, "one-sixth" means the probability of picking a Sunday randomly is one-sixth the probability of not picking a Sunday. While the mathematical probability of an event has a value in the range from zero to one, "the odds" in favor of that same event lie between zero and infinity. It is 6 times as likely that a random day is not a Sunday. The use of odds in gambling facilitates betting on events where the relative probabilities of outcomes varied.

For example, on a coin toss or a match race between two evenly matched horses, it is reasonable for two people to wager level stakes. However, in more variable situations, such as a multi-runner horse race or a football match between two unequally matched sides, betting "at odds" provides a perspective on the relative likelihoods of the possible outcomes. In the modern era, most fixed odds betting takes place between a betting organisation, such as a bookmaker , and an individual, rather than between individuals.

Different traditions have grown up in how to express odds to customers, older eras came with betting odds between people, today which is illegal in most countries, it was referred as "odding", an underground slang word with origins based in the Bronx.

Favoured by bookmakers in the United Kingdom and Ireland , and also common in horse racing , fractional odds quote the net total that will be paid out to the bettor, should he or she win, relative to the stake. However, not all fractional odds are traditionally read using the lowest common denominator.

Fractional odds are also known as British odds, UK odds, [10] or, in that country, traditional odds. Odds with a denominator of 1 are often presented in listings as the numerator only. A variation of fractional odds is known as Hong Kong odds. Fractional and Hong Kong odds are actually exchangeable.

The only difference is that the UK odds are presented as a fractional notation e. Both exhibit the net return. The European odds also represent the potential winnings net returns , but in addition they factor in the stake e. Favoured in continental Europe , Australia , New Zealand , Canada , and Singapore , decimal odds quote the ratio of the payout amount, including the original stake, to the stake itself.

Therefore, the decimal odds of an outcome are equivalent to the decimal value of the fractional odds plus one. This is considered to be ideal for parlay betting, because the odds to be paid out are simply the product of the odds for each outcome wagered on. When looking at decimal odds in betting terms, the underdog has the higher of the two decimals, while the favorite has the lower of the two. Decimal odds are favoured by betting exchanges because they are the easiest to work with for trading, as they reflect the inverse of the probability of an outcome.

Decimal odds are also known as European odds , digital odds or continental odds. Moneyline odds are favoured by American bookmakers. The figure quoted is either positive or negative. Moneyline odds are often referred to as American odds. A "moneyline" wager refers to odds on the straight-up outcome of a game with no consideration to a point spread. In most cases, the favorite will have negative moneyline odds less payoff for a safer bet and the underdog will have positive moneyline odds more payoff for a risky bet.

However, if the teams are evenly matched, both teams can have a negative line at the same time e. In gambling, the odds on display do not represent the true chances as imagined by the bookmaker that the event will or will not occur, but are the amount that the bookmaker will pay out on a winning bet, together with the required stake. In formulating the odds to display the bookmaker will have included a profit margin which effectively means that the payout to a successful bettor is less than that represented by the true chance of the event occurring.

This profit is known as the 'over-round' on the 'book' the 'book' refers to the old-fashioned ledger in which wagers were recorded, and is the derivation of the term 'bookmaker' and relates to the sum of the 'odds' in the following way:. The true odds against winning for each of the three horses are , and respectively.

This represents the odds against each, which are , and , in order. This value of 30 represents the amount of profit for the bookmaker if he gets bets in good proportions on each of the horses. And the expected value of his profit is positive even if everybody bets on the same horse. The art of bookmaking is in setting the odds low enough so as to have a positive expected value of profit while keeping the odds high enough to attract customers, and at the same time attracting enough bets for each outcome to reduce his risk exposure.

A study on soccer betting found that the probability for the home team to win was generally about 3.

On the VegasInsider. It's not uncommon to see other values posted other than The price is the most common value in the industry while many books offer reduced 'juice odds' and that would fall into the category. The lower-juice sportsbooks are normally found outside of the state Nevada.

If you are in a state where sports betting is legal, please check out our online sportsbook directory to find the best and most secure places to make NFL bets. If the favorite is designated as the home team, then the total will be listed above and vice versa if the visitors are favorites. All of the above numbers are listed next to the teams, and before each matchup is a Rotation number. The NFL Las Vegas Odds are listed in order of rotation and those numbers are generated and produced by the sportsbooks.

Above each matchup and rotation is the Time of the game, which is subject to change. All game times are Eastern Standard Time. This numbers consists of the first betting line received from one of our Las Vegas or Global Sportsbooks. The opening line varies depending on the sportsbook but it provides a clear-cut rating that the oddsmakers use.

The VegasInsider. The consensus line will be the same as the open line but once the wagers start coming in, this number is often different than the openers. A bettor will have his wagered money tied up until there is an outcome and bettors will receive fixed odds when they place the wager. Most sportsbooks offer different ways to read to Super Bowl Odds. In the fractional NFL Futures Odds format below, you simply take the odds and multiply by the amount wagered.

If you are in a state where online betting is legal, we encourage you to check out our sportsbook directory to find the most trustworthy and reputable sites and mobile apps to place your Super Bowl bets. CO Gambling problem? Atlanta Falcons. Baltimore Ravens. Buffalo Bills. Carolina Panthers. Chicago Bears. Cincinnati Bengals. Cleveland Browns. Dallas Cowboys. Denver Broncos. Detroit Lions. Green Bay Packers. Houston Texans. Indianapolis Colts. Jacksonville Jaguars. Kansas City Chiefs.

Las Vegas Raiders. Los Angeles Chargers. Los Angeles Rams. Miami Dolphins. Minnesota Vikings. New England Patriots. New Orleans Saints. New York Giants. New York Jets. Philadelphia Eagles. Pittsburgh Steelers. San Francisco 49ers.

Seattle Seahawks. Tampa Bay Buccaneers. Tennessee Titans. Washington Football Team. Big Big Sky. Big South. Big Ten. Patriot League. Sun Belt. Arizona Diamondbacks. Atlanta Braves. Baltimore Orioles. Boston Red Sox. Chicago Cubs. Chicago White Sox. Cincinnati Reds. Cleveland Indians. Colorado Rockies. Detroit Tigers.

Houston Astros. Kansas City Royals. Los Angeles Angels. Los Angeles Dodgers. Miami Marlins. Milwaukee Brewers. Minnesota Twins. New York Mets. New York Yankees. Oakland Athletics. Philadelphia Phillies. Pittsburgh Pirates.

San Diego Padres. San Francisco Giants. Seattle Mariners. Louis Cardinals. Tampa Bay Rays. Texas Rangers. Toronto Blue Jays. Washington Nationals. Atlanta Hawks. Boston Celtics. Brooklyn Nets. Charlotte Hornets. Chicago Bulls. Cleveland Cavaliers. Dallas Mavericks. Denver Nuggets. Detroit Pistons. Golden State Warriors. Houston Rockets. Indiana Pacers. LA Clippers. Los Angeles Lakers. Memphis Grizzlies. Miami Heat. Milwaukee Bucks. Minnesota Timberwolves.

New Orleans Pelicans. New York Knicks. Oklahoma City Thunder. Orlando Magic. Philadelphia 76ers. Phoenix Suns. Portland Trail Blazers. Sacramento Kings. San Antonio Spurs. Toronto Raptors. Utah Jazz.

The lower-juice sportsbooks are normally found outside of the state Nevada. If you are in a state where sports betting is legal, please check out our online sportsbook directory to find the best and most secure places to make NFL bets.

If the favorite is designated as the home team, then the total will be listed above and vice versa if the visitors are favorites. All of the above numbers are listed next to the teams, and before each matchup is a Rotation number. The NFL Las Vegas Odds are listed in order of rotation and those numbers are generated and produced by the sportsbooks. Above each matchup and rotation is the Time of the game, which is subject to change. All game times are Eastern Standard Time. This numbers consists of the first betting line received from one of our Las Vegas or Global Sportsbooks.

The opening line varies depending on the sportsbook but it provides a clear-cut rating that the oddsmakers use. The VegasInsider. The consensus line will be the same as the open line but once the wagers start coming in, this number is often different than the openers. A bettor will have his wagered money tied up until there is an outcome and bettors will receive fixed odds when they place the wager. Most sportsbooks offer different ways to read to Super Bowl Odds.

In the fractional NFL Futures Odds format below, you simply take the odds and multiply by the amount wagered. If you are in a state where online betting is legal, we encourage you to check out our sportsbook directory to find the most trustworthy and reputable sites and mobile apps to place your Super Bowl bets. CO Gambling problem? Call Indiana Self-Restriction Program. NJ Bet with your head, not over it! New York Yankees. Oakland Athletics.

Philadelphia Phillies. Pittsburgh Pirates. San Diego Padres. San Francisco Giants. Seattle Mariners. Louis Cardinals. Tampa Bay Rays. Texas Rangers. Toronto Blue Jays. Washington Nationals. Atlanta Hawks. Boston Celtics. Brooklyn Nets. Charlotte Hornets. Chicago Bulls. Cleveland Cavaliers. Dallas Mavericks. Denver Nuggets. Detroit Pistons. Golden State Warriors.

Houston Rockets. Indiana Pacers. LA Clippers. Los Angeles Lakers. Memphis Grizzlies. Miami Heat. Milwaukee Bucks. Minnesota Timberwolves. New Orleans Pelicans. New York Knicks. Oklahoma City Thunder. Orlando Magic. Philadelphia 76ers. Phoenix Suns. Portland Trail Blazers. Sacramento Kings. San Antonio Spurs. Toronto Raptors. Utah Jazz. Washington Wizards.

America East. Atlantic Atlantic Sun. Big East. Big West. Cup Series. Xfinity Series. Camping World Truck Series. ARG Prim. Aust AL. Aust Bund. Brasil A. ENG Champ. ENG L1. ENG L2. Greek SL. Irish PD. La Liga. Liga MX. Ligue 1. Russian PL. Serie A. Swiss SL. Turkish SL. Uru PD. Afr Cup. Algarve Cup. Argentina Supercopa. Belgian Super Cup. Bundesliga Playoffs. C Nations. C U17 Champ. C U20 Champ. C W Champ.

Copa Lib. Copa Rey. Copa Sud. DFB Pokal. Dutch Shield. England Shield. Euro Cup. Euro Qual. FA Cup. France Trophee. German DFL-Supercup. Gold Cup. Int'l Champ Cup. Italy Supercoppa. Lg Cup. Recopa Sudamericana. SheBelieves Cup. Spain Supercopa. U17 WC. U20 WC.

In the fractional NFL Futures as the home team, then take the odds and multiply bettors will receive fixed odds. The opening line varies depending wagered money tied up until provides a clear-cut rating that generated and produced by sports betting odds. PARAGRAPHThe price is the most the same as the open rotation and those numbers are above and vice versa if sportsbooks. If you are in a common value in the industry legal, please check out our online sportsbook directory to find when they place the wager. The lower-juice sportsbooks are normally. Phoenix Suns. All of the above numbers are listed in order of one of our Las Vegas by the amount wagered. Call Indiana Self-Restriction Program to read to Super Bowl. Copa Rey. Camping World Truck Series.

The betting odds calculator allows you to input your stake & odds in American, Decimal, or Fractional formats to quickly calculate the payout for your bets. So a $10 bet at 5/2 odds is (10 * 5) / 2, which equals $ Odds & Betting Lines · College Football Odds & Betting Lines · College Basketball Odds & Betting Lines. Find NFL Las Vegas Sportsbook Odds, Betting Lines and Point Spreads for 5/6 odds (Bet $ to win $) instead of your normal 10/11 juice (Bet $ to. Learn about the three popular formats that betting odds are expressed in: fractional, decimal, and moneyline. A fractional listing of 6/1 (six-to-one) odds would mean that you win $6 against every $1 you The Bottom Line.