There are probably hundreds of diverse ways to depict odds, and you must be aware of these as a sports bettor. But you know what? These are not the same in every country and differ from country to country. The industry standard is the usage of the plus sign and the minus sign in American sports betting. Looking at these signs can make you know about the outcome of the bet, but it is only a minor teaser. As a sports bettor, there are many other things to consider, such as what do plus and minus in betting signify?
What Kind Of Odds are There?
To know- what does plus-minus mean in betting, you need to learn about the odds. There are numerous odds, and every sports bettor should recount all the possible ways to display odds. All the bookmakers around the globe use the below-mentioned kinds of odds.
- Fractional odds
- Decimal odds
- American odds
A slash or a hyphen is used to display fractional odds such as 4/1 or 4-1. With the help of decimal odds, you can get the number that you can use to calculate the amount of money you will win at the end. But as our post is about the plus and minus signs, we only need to focus on American odds. Some bettors also refer to these odds as Moneyline odds because bettors use this to place Moneyline bets.
What Types Of Bets Can I Make With American Odds?
It’s time to dive into practical matters once you understand the meaning of signs you see in the sports industry. But with the help of American odds, you can make diverse kinds of bets and not only the Moneyline. We will be illustrating this with some examples and let you know the method to calculate the potential output. You can start wagering on the following kinds of bets mentioned above.
- Moneyline bet
- Point spread bet
- over/under bet
- Other types of bets
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How To Make a Moneyline Bet With American Odds?
You already know about the Moneyline bets in the section mentioned above. Still, few things are left, and we have covered these over here to make you understand the bet completely. To calculate the payout for a money line bet, every bettor should be aware of the holy number, which is 100 dollars. Here’s an example of an NBA game between the Los Angeles Lakers and Golden State Warriors. Suppose a person named bill wants to wager on this. Consequently, the odds will be as follows:
- Los Angeles Lakers -250
- Golden State Warriors +210
As depicted above, the Los Angeles Lakers are the favorite, and the Golden State Warriors are the underdog. To calculate the winnings, let us assume the best of 100 dollars. If you place the $100 bet on the warriors, you’ll make a profit of $210 over and above. Contrary to this, if you bet $100 on the Lakers, the profit will be $40. It means that you need to wager $250 to make a $100 with the Lakers.
When is a Moneyline Bet Straight Up?
You’ll most likely face two terms in Moneyline betting: a bet can be either straight up, or you can make a straight bet. Straight betting refers to the kind of bets on a single sporting event, including the point spread, the final score of the game, money line, run line, or puck line. Here you must be thinking that this covers almost all the games. But no. There are some differences between the two. The sole difference here is that a straight-up bet regards only a single sporting event, and it should not be multiple games. It relates to the money line bet as it is about one game.
How To Make a Point Spread Bet By Using American Odds?
With the point spread bet at your disposal, bettors get an opportunity to bet on any kind of match irrespective of the skill difference between both teams. Bettors wager on the difference between the number of points between two teams. For instance, let us use an example of an NBA game between the San Antonio Spurs against the Philadelphia 76ers. Consequently, the odds will look like this.
- San Antonio Spurs +1.5
- Philadelphia 76ers -1.5
The negative number indicates the favorite, whereas the positive number indicates the underdog. Let us assume that you wager on the Spurs to cover the spread. If you want to win the bet, the 76ers need to win the bet with 2 points. Otherwise, the bettors who wager the point spread will win. Consequently, the plus and minus signs are likely to tell you about the team that will win the match. In addition to this, the favorite and underdog will have 50% chances of covering the spread when the point spread is taken into account.
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How To Make an Over/Under Bet Using American Odds?
It is quite easy to explain the over/under bets. Many bettors invest their money on the final score of the match. Let us take an example of an NFL match between the New England Patriots and the Detroit Lions. For this game, the American odds will be like this:
If you observe the above example, you’ll find out that the match’s final score will be less than 45 points. Here, it is imperative for both the teams to look out for both the offensive and defensive capabilities. On the surface, it is the most straightforward bet to understand, but it becomes difficult for people to forecast. Besides this, also learn about the scores and odds Vegas lines.
How To Place a Parlay Bet and a Prop Bet With American Odds?
Nearly everyone who has decided to place sports bets means he or she is taking a risk. It is because you are betting on something insecure. But without any doubt, some bettors take more risk than others. For instance, a single bet has more possibilities of winning than a parlay bet involving great risk. By using American odds, the parlay bet will look like this.
- Match 1: LA Rams-109
- Match 2: LA Kings +104
- A team parlay odds +292
Now no more wondering what does betting means? After reading how to read betting odds, you must have gained in-depth information about it. When thinking about the bets to choose from, the plus and minus in the betting guide must have helped you a lot. Tune in to Betadrian for all the latest tips and guidance on sports and betting if you want to gain further information on betting questions or topics.
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