Sports betting is a popular activity that has been around for centuries. In recent years, it has become even more accessible thanks to the rise of online sportsbooks. One aspect of sports betting that can be confusing to newcomers is the use of different odds formats. We will explore what American odds are in sports betting, how they differ from other odds formats, and how to use them to make informed betting decisions. Whether you are a seasoned sports bettor or new to the game, understanding American odds can improve your betting strategy and lead to more successful wagers.
American Odds in Sports Betting
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What are American Odds in Sports Betting?
American odds, also known as moneyline odds, are a way of expressing betting odds as a positive or negative number. In American odds, a positive number represents the amount of money that would be won on a $100 bet, while a negative number represents the amount of money that would need to be wagered to win $100. For example, if the odds for a particular team are +150, a $100 bet would earn $150 in profit. If the odds for a different team are -200, a bettor would need to wager $200 to win $100 in profit.
How to Calculate American Odds in Sports Betting
American odds are commonly used in sports betting in the United States. They are especially popular for betting on individual games, like football or basketball.
When betting on a game using American odds, a bettor will see the odds for each team listed as a positive or negative number. The favorite is generally assigned a negative number, while the underdog is assigned a positive number. The odds represent the payout a bettor would receive if they win their bet.
For example, if the odds for a particular football game are listed as -120 for the home team and +150 for the away team, it means that the home team is the favorite and a bettor would need to bet $120 to win $100 in profit. Conversely, a $100 bet on the away team would result in a $150 profit.
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Decimal Odds vs. Fractional Odds vs. American Odds
Decimal Odds
Decimal odds are commonly used in Europe, Australia, and Canada. They are expressed as a decimal point and are the easiest to understand. For example, if the odds are 2.50, it means that you will receive $2.50 for every dollar you bet. Decimal odds show your winnings plus your stake. It is a convenient format because it is easy to calculate your winnings for any bet size.
Understanding decimal odds is pretty straightforward, which is why many beginners prefer them. They are an excellent choice for those who want to keep things simple when placing bets. Decimal odds are especially helpful when dealing with multiple bets, as they allow you to quickly calculate potential returns.
Fractional Odds
Fractional odds are popular in the UK and Ireland. They are traditionally written as fractions, such as 9/2 or 5/1. The first number in the fraction represents your potential winnings, while the second number represents your stake. For example, if you bet $5 on a horse with odds of 5/1, you would win $25 ($5 x 5) plus your stake of $5 back.
Fractional odds are not as common outside of the UK, but they are still used by some bookmakers. They can be confusing for beginners because they involve fractions, but they are simple to understand once you get the hang of them.
American Odds
American odds are used primarily in the United States. They are also known as moneyline odds or Vegas odds. American odds can be positive or negative numbers and are based on a $100 bet. Negative odds indicate the favorite and show how much you need to bet to win $100, such as -150. Positive odds show the underdog and indicate how much you will win from a $100 bet, such as +200.
American odds can be a little confusing at first, but they are useful once you get used to them. They are especially popular in sports betting because they take into account point spreads, which is the number by which a favorite is predicted to win.
How to Convert Decimal & Fractional Odds to American Odds
How to Convert Decimal Odds to American Odds?
To convert decimal odds to American odds, you need to use the following formulas.
For odds less than or equal to 2.0:
American Odds = (decimal odds – 1) x 100
For odds greater than 2.0:
American Odds = (decimal odds – 1) x 100 or (-100 / (decimal odds – 1))
Here is an example:
Let’s say we have a soccer match with decimal odds of 2.50.
Using the formula above, we get:
American Odds = (2.50 – 1) x 100 = +150
Therefore, the American odds for this soccer match are +150.
How to Convert Fractional Odds to American Odds?
To convert fractional odds to American odds, you need to use the following formulas.
For odds greater than or equal to 2.0:
American Odds = (numerator/denominator) x 100 or (numerator/denominator) – 1 x 100 (if the numerator is smaller than the denominator)
For odds less than 2.0:
American Odds = (-100 / (numerator/denominator – 1))
Here is an example:
Let’s say we have a high school basketball game with fractional odds of 6/4.
Using the formula above, we get:
American Odds = (6/4) x 100 = +150
Therefore, the American odds for this basketball game are +150.
Examples of American Odds in Sports Betting
1. Super Bowl
The Super Bowl is one of the most popular sporting events in the United States and attracts millions of viewers each year. In Super Bowl LV, the Kansas City Chiefs were the favorite with odds of -165, while the Tampa Bay Buccaneers had odds of +145. The Buccaneers ended up winning the game, so bettors who placed a $100 bet on them would have won $145 plus their original bet.
2. NBA Finals
The NBA Finals is the championship series of the National Basketball Association and is another popular event for sports betting. In the 2021 NBA Finals, the Phoenix Suns were the underdog with odds of +190, while the Milwaukee Bucks were the favorite with odds of -230. The Bucks ended up winning the series, so bettors who placed a $100 bet on them would have won $43.48.
3. NHL Playoffs
The Stanley Cup playoffs are the postseason tournament for the National Hockey League and also attract a lot of sports betting. In the 2021 NHL playoffs, the Montreal Canadiens were the underdog with odds of +350 in the first round, while the Toronto Maple Leafs were the favorite with odds of -450. The Canadiens ended up winning the series in seven games, so bettors who placed a $100 bet on them would have won $350.
