The legal sports betting industry continues to expand across the US. A number of states are completely on board, others remain works in progress, and more will follow at some point down the road.
Options continue to grow for consumers. That’s naturally a good thing for many reasons, not the least of which is this: There’s simply no need to take a chance with risky offshore operators when there are legal and regulated options available closer to home.
As new users continue to enter the fold, questions inevitably pop up. Some of the most common ones revolve around how to make heads or tails of sports betting odds. In this guide, we’ll be covering all of the ins and outs to get you up to speed in no time.
How do sports betting odds work?
For each game and event available for wagering, sportsbooks will attach odds to the available choices. The odds tell you which outcome is the favorite — i.e., the more likely one to happen — and can also point you to the potential return on winning bets.
On that last point, it takes some calculating to figure that out. We’ll walk through the steps in a bit. For now, let’s examine how the odds work for each of the main types of sports bets.
Moneyline betting odds
A moneyline wager is a straightforward one in which you simply have to choose the winner. The odds on the favored side will be negative, while the number will be positive on