Since the WagerWidget helps you find the best odds, understanding those odds would be a "good thing". We want you to get the most out of the WagerWidget, so the following summary on sports betting odds is for you.
Bet Types:
The bet types are different ways of betting on the outcome of a given game. Explanations of the top types follow:
Money Line
When most people think of betting on a game it comes in the form of a straight up bet simply based on the winner of the match. This is also the simplest bet which allows the WagerWidget to highlight the best odds automatically.
Spread
The most popular way of betting is based on the number of points a team will win or lose by which is the point spread or just spread. The spread is displayed with the favored team having a negative point number while the other team has the same number but positive. The negative number is saying that the team associated to it is favored by that many point so they must do better than that to win the spread. On the other side, their opponent can win the spread if they lose by less than that amount.
Over and Under
This form of betting is not about who wins or loses the game or by how much but rather the total points scored by both teams together. A number of points for each game is given and you get to deiced if the final point total will go over or under what was posted.
How Spread and Over and Under are similar
When comparing these bet types between different sportsbooks you will find that they can use different numbers to base their odds on. Because of this, you have to determine what spread/point total and odd combination works best for you. You will also find that the spread or point total often have a half a point included in them. This is done to guarantee that a draw will not occur.
Odd Formats:
Different parts of the world calculate odds differently. The WagerWidget gives you the ability to view all odds in each format so that you can deal with the one that fits your region or makes most sense to you. Here are the details:
American
As you might imagine, Americans typically talk about odds in terms of the American format, which revolves around the number 100. A positive number means that you have to wager 100 dollars in order to make that much money as opposed to a negative number which you have to lay down that much to win 100.
Fractional
Fractional odds are also known as British or UK odds and represent payouts in a fractional form. Take the amount you wish to wager, multiply it by the top/numerator and then divide by the bottom/denominator to get your reward for taking a good bet.
Decimal
Decimal odds, also know as European odds, are calculated by multiplying the amount you wish to bet followed by subtracting that same amount.
Why can odds vary between sportsbooks and over time?
One of the big reasons for this is that sportsbooks want to distribute risk. When a sportsbook offers odds they do so with a small margin in their favor. As they take bets they can sometimes find that one side of any given offer gets more action then the other. To even things out they will change their offer to try and stimulate action on the lesser taken bet and hence distribute the spread of money at risk between each side of the bet. This can present an opportunity for you to get the odds you want.
By applying your knowledge of sports with the above information on odds, you will be able to use the WagerWidget’s odds comparison to find a new way to appreciate both sports and money.