Welcome to the Sports Betting Odds section of The Sports Geek. If you are new to sports betting and don’t understand how to read betting odds (+150, -110, +2200, etc) we will lay it all out for you and help you learn how the betting odds work.
Jul 12, 2019 For those new to sports betting, the point spread is the simplest, most straightforward approach to placing wagers. Sports books set a predetermined margin of points on a game and a team must win –. If you want to bet on sports in California, you will need to visit one of these tribal casinos or racetracks. Likely, the usual pattern is for live sports betting to launch first with online betting to follow after regulators are content that all the boxes are checked. The mechanics of getting started. Before making any bet, it helps to know what you're risking for the expected payout. Enter Your 'Bet Amount' - that's what you're risking, along with the American, fractional or decimal odds. See what your total payout and winnings will be. Betting Calculator Parlay Calculator.
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Sports Betting Odds Explained
Many people don’t know how to read or calculate sports betting odds, so below we have done our best on explaining how betting odds work. The most common type of sports betting odds used in North America are the American style odds which we explain below.
American Style Sports Betting Odds
Most online sportsbooks will list their odds in what is called “American Odds”. There are a couple different versions of sports betting odds, but these American Odds are the most common odds used. Reading and understanding sports betting odds can bet a little confusing to beginners, so we have provided an example below using two NFL football teams:
American Odds
- Matchup Odds
- New England Patriots +120
- Pittsburgh Steelers -140
The number shown in the bracket represents the odds. The American Odds have two components to them, the first being the positive or negative sign, and the second being the number that follows the sign.
The sign in front of the number indicates whether placing a wager on that outcome will pay out more money then you have wagered or less money then you have wagered. If the odd is negative (-) it means that outcome is more likely to happen and placing a bet on that outcome would payout less than the amount you wagered, while a positive (+) odd shows that the outcome is less likely to happen and it would pay out more than the amount you wagered.
The next step is figuring out exactly how much the bet pays out, which is where the numbers in the odds come into play.
A listed odd with a – sign in front of it, such as the -140 in our example above, shows us how much money you would need to wager in order to win $100. So using the -140, this would show us that you would need to bet $140 in order to win $100 in profits. You can easily substitute the $100 bet for a $10 bet by moving the decimal place over one spot, showing us that you would need to wager $14 in order to win $10 in profits.
Examples:
A listed odd with a + sign in front of it, such as the +120 in our example above, shows us how much money you would win on a $100 bet. Using the +120 odds, it shows us that a $100 bet on that outcome would pay out $120 in profits. Again this can easily be converted into smaller or larger size bets. A $10 bet on +120 odds would pay out $12 in profits.
Examples:
Below is an example of NFL betting odds taken from an online betting site.
In this example you can see Los Angeles is listed at +130 ($100 bet pays $130 plus of course your original wager back) and New England is listed at -150 ($150 bet pays $100).
The great thing about betting online is that the online sportsbooks will do the calculations for you before you place your bet. You can click on the outcome or team you would like to bet on, and then input the amount you wish to wager and it will show you your potential pay out before you confirm your bet.
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Decimal Style Sports Betting Odds
Decimal style odds are used mostly in Europe, and are pretty easy to understand. To calculate the decimal style odds all you will need to do is simply multiply the amount you wish to wager by the decimal odds shown and you will get your payout. For example it may look something like this:
If you wanted to place a $10 wager on the USA at 2.40 you would simply need to multiply your $10 wager by the 2.40 odds (10 x 2.40) to find out that the payout is $24. It is important to realize that with decimal style odds it includes the amount you wagered, so to find out profits you would need to subtract your wager ($24 – $10) to find out your potential payout is $14 in profits.
If you wanted to place a $10 wager on Brazil you would again just multiply $10 x 1.55 to find out that you would win $15.50 total or $5.50 in profits.
Decimal style betting odds are very simple to understand, but you won’t see them displayed in many North American sportsbooks. With that said, most online betting sites will allow you to chose the style of betting odds you want displayed, with American odds set as the default.
Legal online and mobile app Michigan sports betting launched Friday, Friday, Jan. 22. People located within state borders and over the age of 21 will be able to place legal, online sports bets on their favorite teams and/or events.
BetMGM is one of the leading sportsbooks approved to operate for those in Michigan. You can register for BetMGM Sportsbook here.
Sports betting in Michigan
Sports betting began with in-person betting at retail, or in-person, sportsbooks in March 2020. Online sports betting launched Friday, Jan. 22, and is legal for users over the age of 21 and can be done via BetMGM‘s mobile app or via desktop.
Online sportsbooks in Michigan
BetMGM is one of the online sportsbooks now licensed to accept bets on sporting events in Michigan.
A division of the MGM casino brand, BetMGM has a top-class mobile app for live/in-play betting. They have competitive offers for new users and specialized betting markets.
Retail sportsbooks in Michigan
Yes, in-person sports betting opened in Michigan in March 2020. Visit MGM Grand Detroit.
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How to make an online sports bet in Michigan
Sports fans in Michigan can now get legal betting action by signing up and registering with their legal online sportsbook of choice. Sportsbooks, like BetMGM, will offer promotions and incentives for new users.Once your account is created and verified, deposit via any one of several payment options. Most books will accept direct deposit via bank accounts and/or all major credit cards. Your means of deposit is also how eligible withdrawal requests will be processed.Place legal online bets on your favorite team, sport or events. Navigation is made easy via tabs and dropdown menus for quick access. Search bars allow users to find their event or team of choice. Once you’ve found the bet you wish to make, it will be added to your bet slip. Enter the amount you wish to bet and wait for the event to play out.
Sports betting advice
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