Understand Decimal Odds
If there is no clear favourite and the odds are 50/50, the moneyline is displayed as +100. Using the positive rule, a $100 bet would then return a $100 profit. The odds are presented in either a negative or positive format depending on the probability. The first thing that any punter needs to do is understand how the odds work and what they mean.
That is, moneylines are usually a bit more bettor-friendly. In the San Francisco/Detroit example above, the market has 4.58% vig. That’s just a hair more than a typical spread betting market with -110 on both sides, which has 4.54% vig.
A push wouldn’t happen in the example above because a team can’t win by half a point. It is very common, though, to have a betting line of +3/-3. That is called a push and you simply get your money back with no profit and no loss. Once a matchup is announced in football, basketball or any sport, sportsbooks will release betting odds for the matchup for the moneyline. Bettors should be scanning daily matchups to see if there’s an odds disparity from previous games as these numbers will move once the market has a chance to react.
Decimal odds are popular in Europe, Australia and, partly due to the growth of betting exchanges, they are becoming increasingly common in the UK, especially with younger gamblers. In a moneyline wager, bettors make bets simply on who will win the game. This does not involve any point spreads or margins of victory.
American odds, depending on the negative or positive sign, either indicate the amount one needs to wager to win $100 or the amount one would win for every $100 staked. This means that the first visiting team of the day’s list of games will be team 951, in every casino in sportsbook. These figures help with references so if you want to bet the visitor in the 1st baseball game of the day, you can go up to the sportsbook cashier and ask to bet team #951.
This juice is a way to discourage gamblers from wagering on a heavy favorite. If the Golden State Warriors are listed at –500 to win the NBA championship, a successful $500 wager would only net $100. I wrote up a guide to golf betting that explains these unique features so you can feel comfortable wagering on PGA events too.