In case you have entered the betting arena without a clear strategy in mind then you could emerge out as a very unhappy bettor, plus you might also lose a ton of money in the process. Just like a doctor would need the right skills before operating on a patient, you too must work hard in understanding sports betting odds before making a killing in the betting arena.
Each exciting sport including boxing, tennis, golf, baseball, football, basketball, horse racing, car racing, and many such more are eligible for betting. Even if the sport is college football handled by the ncaa or pro football handled by way of the nfl, bets may be placed, even though the odds will surely differ in each sport and each game too. Odds are also displayed differently in various countries. By way of example, USA displays odds as American odds, i.e. -100, -230, etc, while Canada, Australia and Countries in Europe display odds as Decimal odds, i.e. 2.50, 1.30, etc, and the UK displays odds as Fractional odds, i.e. 8/8, 8/4, etc.
Sports betting odds also display the underdog team along with the top-dog, the over-under and the spread through which you need to win if you choose to bet for or against the spread. A straightforward example will show you betting odds easily. For instance in an nfl match between the Buffalo Bills and the New York Giants, the odds may be displayed as under
Buffalo Bills -11.2 -120 -160
New York Giants +11.2 -120 +270
The first sign near the teams name signifies the underdog and the top-dog. Therefore, Buffalo Bills would be the top-dog due to the "-" sign whereas the Giants are the underdogs because of the "+" sign beside it. The figure 11.2 signifies the spread plus the favored team has to win with the points mentioned on the spread. The figure 120 means that you will have to bet $120 to win $100 on that spread. The final figure of 160 next to the Bills indicates that you have to stake $160 to win $100 together with your stake on that bet since the Bills are classified as the favored team to win. Alternatively, you simply need to bet $100 to win $270 should you bet on the Giants since it is the underdog team.
The above was an example of betting odds from the American odds format. Each bookie displays odds in different formats but you would be able to quickly convert it in your format when using the odds converter available in most websites. The Internet has today definitely made betting easier although you will definitely need to work on understanding and calculating the betting odds prior to placing your bet.
You might certainly be able to bet efficiently and convert most of your placed bets into huge wins if you read and understand sports betting odds. Each sports book will display odds and you will have to choose sites that have the most effective odds that you can bet on. Understanding sports betting odds is essential if you wish to beat the odds and the bookies and make a killing by winning the highest number of bets.