Odds In Sports Betting

  
  1. 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.
  2. Odds are a set of numbers which indicate the likelihood of an event taking place. In gambling terms, the odds aren’t a true representation of probability, but show the ratio between the amount bet and the payout based on the probability calculated by the bookmakers. Now that we have that out of the way, let’s get down to business.
  • Where to Bet:

Understanding Odds in Sports Betting Betting odds, especially for novice bettors and for those that are new to sports betting, can be difficult to grasp. There are several types of betting odds that are offered to players, but they all have one common theme – they reflect the probability of an outcome in a sporting event. Las Vegas Betting Lines at VegasInsider.com. Specializing in free sports picks, gambling handicappers, Internet sports betting odds and online sportsbooks.


How to read Super Bowl 55 Odds

The Kansas City Chiefs wil meet the Tampa Bay Buccaneers in Super Bowl 55 from Raymond James Stadium in Tampa, Florida on Feb. 7, 2021.

The Chiefs opened as -3.5 betting favorites while the Buccaneers are 3.5 underdogs.

After early wagers came in, most operators are holding Kansas City -3 (-120).

If you were to wager on Kansas City -3, you would have to lay 5/6 odds (Bet $120 to win $100) instead of your normal 10/11 juice (Bet $110 to win $100).

How to calculate odds in sports betting

The return on Tampa Bay would be even-money (1/1) and a $100 wager would return $100.

The total or over-under on Super Bowl 55 is hovering between 56 and 57 points.

Betting

How to read NFL Las Vegas Odds

The point-spread was developed to provide a balance for both teams involved in a contest to entice bettors to potentially back the weaker team and receive points. The two squads in a game are listed with a title, either a favorite or an underdog. The favorite is usually the perceived better team in the game, as backing them means giving up several points.

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The favorite is always listed with a minus (-) sign before the point-spread while the underdog is labeled with a plus (+) label.

Ex. Favorite -10, Underdog +10

On the VegasInsider.com odds page, there is another number associated with the favorite and its listed as -10. This number is simply defined as “vig” or what many in the sports betting industry call vigorish. Another common term is called “juice” and it’s technically the price the bettor has to pay on a straight wager.

Ex. Bet $110 to win $100 (10% juice)
Ex. Bet $100 to win $90.91 (10% juice)

It's not uncommon to see other values posted other than -10. Examples seen on the NFL Vegas Odds pages could include -08, -12, -15 and -20. The -10 price is the most common value in the industry while many books offer reduced 'juice odds' and that would fall into the -08 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.

Another number that’s posted on the NFL Las Vegas is the total or ‘over/under’ for the specific matchup. 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.

NFL Open Line

Betting Lines Vegas

One of the best features on the NFL Vegas Odds is the Open Line. 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. If you’re betting on the NFL or any other sport, it’s a great idea to view the open line first.

VI Consensus NFL Line

Odds In Sports Betting

Odds In Sports Betting Meaning

The VegasInsider.com Consensus NFL Line is just as important as the Open Line and also a key resource on odds platform. The Consensus column could be called a “Median Line” since it shows the most consistent number provided by the sportsbooks on VegasInsider.com. 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.

Ncaa Sports Betting Odds

How do I bet on the Super Bowl?

We know that you can bet on the Super Bowl and all of NFL Futures or bet on the NFL Draft at any time of the year, but what’s the process? The future wager or the “Odds to Win” bet on the Super Bowl is correctly selecting a team to win an event that takes place at a later time. 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. In the case of the Super Bowl, you’re not a winner or loser until you see zeros on the clock in the final game.

Sports Betting Odds Today

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.

Sports Betting Odds

Ex. Green Bay (8/1) to win the Super Bowl

The Packers are listed as an 8/1 betting choice to win the Super Bowl. If you wager $100 on Green Bay to win the NFC and they capture the championship, then you would win $800 (8 ÷ 1 x 100). Your online betting account would then credit your account $900, which includes your win and stake ($100).

The American Format would see Green Bay listed at +800 and for the Decimal Format, the Packers would be 9.00.

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.