You simply look at what the Over / Under is and then bet on which you think it will be. There are over and under betting odds for pretty much every sport including baseball, football, hockey, UFC, Basketball, Horse racing, and much more. The over/under betting odds, or the totals, work differently for each sport.
The underdog has a higher decimal number, meaning a higher payout and a higher risk (less likely to win the game). Meanwhile, the favorite has a smaller decimal number and a lower risk (more likely to win the game). Note that favorites always have odds lower than 2.0. Underdogs always have odds higher than 2.0.
Sports Betting Odds Explained. The world of sports betting odds is growing wider by the day. Once limited to Las Vegas casinos, technology has made it so everyone can bet on their favorite sports from the comfort of home. The business is getting so big, even ESPN may start their own sportsbook.
Sports betting odds are created by bookmakers to show what the outcome of a game or event is likely to be. They also dictate how much profit a player can make when betting on an event at that sportsbook. They're often heavily influenced by Vegas odds, football in particular.
Understanding odds and calculating payouts are essential items to know for sports betting beginners. Most sportsbooks in the United States use American odds. Fractional odds are often used when discussing odds for futures bets. -110 is the standard vig for point spreads and point totals.
Sometimes referred to as ‘totals’ betting, over/under odds are a bet on the total combined score in a game. It doesn’t matter who wins or loses. Instead, the bet depends on whether the combined amount is over or under a predetermined number set by the bookmaker.
The most common type of sports betting odds used in North America are the American style odds ...
Essentially, sports betting odds represent the probability of the event occurring, but odds can be displayed in three different formats. Fractional Odds. Fractional odds are sports betting odds that use a fractional number to represent the sports bet odds. The sports betting fractional number is a ratio of the payout to the stake, written as so: Odds = Payout / Stake.