betting + ⎯ meaning

Betting + ⎯ Meaning⁚ A Comprehensive Guide

When you see a plus or minus upon perusing the betting odds‚ you may wonder‚ what does plus and minus mean in betting? Understanding the meaning of plus and minus in betting is crucial to understanding American betting odds properly. Here we get into all the details to fully explain the answer...

Understanding American Odds

American odds‚ also known as moneyline odds‚ are the most common format used by sportsbooks in the United States. They are based on a hypothetical $100 bet and are expressed with a plus (+) or minus (-) sign preceding a number.

Positive odds indicate the underdog or the team less likely to win. The number following the plus sign represents the potential profit you would earn on a $100 bet. For example⁚

+150 odds mean that if you bet $100 and win‚ you will receive a profit of $150‚ plus your original $100 stake‚ for a total payout of $250.

Negative odds indicate the favorite or the team more likely to win. The number following the minus sign represents the amount you need to bet to win $100. For example⁚

-200 odds mean that you need to bet $200 to win $100. If you win‚ you will receive your original $200 stake plus the $100 profit‚ for a total payout of $300.

Plus (+) odds indicate underdogs‚ while minus (-) odds indicate favorites.
Positive odds show potential profit on a $100 bet‚ while negative odds show the amount you need to bet to win $100.
American odds are always based on a hypothetical $100 bet‚ even though you can bet any amount.

Fractional Odds Explained

Fractional odds‚ also known as British odds or traditional odds‚ are commonly used in the United Kingdom and other parts of Europe. They are expressed as a fraction‚ such as 5/1 or 7/4‚ representing the potential profit relative to your stake.

Understanding the Fraction⁚

The first number (numerator) represents the potential profit you would earn if you bet the amount shown in the second number (denominator).
The second number (denominator) represents the amount you need to bet to win the amount shown in the first number.

Odds of 5/1 mean that for every 1 unit you bet‚ you would win 5 units plus your original stake back. A $10 bet at 5/1 would return $60 ($50 profit + $10 stake).

Key Points⁚

Fractional odds show the potential profit relative to your stake.
The fraction represents the ratio of profit to stake.
Fractional odds are widely used in horse racing and other European sports.

Decimal Odds Explained

Decimal odds‚ also known as European odds or continental odds‚ are widely used in Europe‚ Canada‚ and Australia. They are expressed as a decimal number‚ such as 2.50 or 3.00‚ representing the total payout you would receive for every unit you bet‚ including your original stake.

The decimal number represents the total return‚ including your stake‚ for every unit you bet.
To calculate your potential profit‚ subtract 1 from the decimal odds.

Example⁚

Decimal odds of 2.50 mean that for every 1 unit you bet‚ you would receive a total of 2.50 units back‚ including your original stake. A $10 bet at 2.50 would return $25 ($15 profit + $10 stake).

Decimal odds show the total payout‚ including your stake.
The decimal number represents the multiplier for your stake.
Decimal odds are commonly used in soccer‚ tennis‚ and other international sports.

Implied Probability and Odds Calculation

Implied probability is the concept of converting betting odds into a percentage that represents the likelihood of an outcome occurring. This helps bettors assess the value of a bet and make more informed decisions.

Calculating Implied Probability⁚

Decimal Odds⁚ Implied Probability = (1 / Decimal Odds) * 100
Fractional Odds⁚ Implied Probability = (Denominator / (Numerator + Denominator)) * 100
American Odds (Positive)⁚ Implied Probability = (100 / (American Odds + 100)) * 100
American Odds (Negative)⁚ Implied Probability = (-American Odds / (-American Odds + 100)) * 100

Odds are set by bookmakers based on various factors‚ including historical data‚ team/player form‚ injuries‚ and public sentiment. They use complex algorithms to generate odds that reflect the perceived probability of different outcomes and ensure profitability.

Key Points⁚

Implied probability helps bettors evaluate the potential value of a bet.
Comparing implied probability to your own assessment of an event’s likelihood can reveal valuable betting opportunities.
Understanding how odds are calculated provides insights into the bookmaker’s perspective and the factors influencing the odds.

Converting Between Different Odds Formats

Understanding how to convert between different odds formats is essential for comparing odds across various sportsbooks and making informed betting decisions. Here’s a breakdown of conversions between the three main formats⁚

Subtract 1 from the decimal odds.
Convert the resulting number to a fraction (e.g.‚ 1.50 ⎯ 1 = 0.50‚ which converts to 1/2).

2. Decimal Odds to American Odds⁚

For Decimal Odds greater than 2⁚ Subtract 1 from the decimal odds and multiply by 100 (e.g;‚ 2.50 ⎯ 1 = 1.50 x 100 = +150).
For Decimal Odds between 1 and 2⁚ Divide 100 by the decimal odds and subtract 100. Then‚ multiply the result by -1 (e.g.‚ 1.60⁚ (100 / 1.60) ⎯ 100 = -37.5‚ rounded to -38).

Divide the numerator by the denominator and add 1 (e.g.‚ 3/2: (3 / 2) + 1 = 2.50).

4. Fractional Odds to American Odds⁚

For Fractions greater than 1/1: Multiply the fraction by 100 (e.g.‚ 3/2 x 100 = +150).
For Fractions less than 1/1: Divide -100 by the fraction (e.g.‚ 2/3: (-100 / (2/3)) = -150).

For Positive American Odds⁚ Divide the odds by 100 and add 1 (e.g.‚ +150⁚ (150 / 100) + 1 = 2.50).
For Negative American Odds⁚ Divide 100 by the absolute value of the odds and add 1 (e.g.‚ -150⁚ (100 / 150) + 1 = 1.67).

6. American Odds to Fractional Odds⁚

For Positive American Odds⁚ The odds represent the numerator over 100 (e.g.‚ +150 becomes 150/100‚ simplified to 3/2).
For Negative American Odds⁚ Divide 100 by the absolute value of the odds to find the denominator‚ with the numerator being 100 (e.g.‚ -150⁚ 100/150‚ simplified to 2/3).