kelly calculator for sports betting american odds

While American odds come with either a minus or addition symbol, decimal odds do not. The higher your stake, the better your potential cash prize. One crucial difference you'll likely see between American and decimal odds is how they are displayed. In contrast to American odds, decimal odds use $1 as its benchmark instead of $100. Decimal Oddsĭecimal odds appear as a whole number with a decimal point and are usually used by most European countries. With American odds, the bookmaker has much control over the point spread even without making many changes. For instance, you can easily wager $10 to win $12 in profit using the example above. Note that the examples apply to smaller bets too. If this bet wins, you get $120 in profit alongside your initial $100 bet. If the bet wins, you get $100 alongside your initial wager of $130.įor the underdogs, let’s assume you are placing a wager on Red Sox, with odds of +120. Presuming you're betting on the Yankees as the favorite with odds of -130, you'll need to wager $130 to win $100. Here are good examples to help you understand these odds better. If you wager on it and win, your payout will be more than your initial wager. It is reserved for the underdog or the team with less possibility of winning the game. On the other hand, the (+) odd indicates a lower probability of the outcome occurring. Wagering on this outcome will get you a lower amount than your bet if you win. It is usually reserved for the favorite team, which has a higher chance of winning the game.

If there is a (-) in front of the number/odds, the outcome is more likely to happen. As mentioned earlier, they are represented by + or – symbols which are very important. So, knowing why the odds work together with how it works is instrumental to understanding your potential payout.Īmerican odds always rely on the base amount of $100. This is because it gives you an idea of what to expect by taking on a particular team. Understanding bet odds of betting lines is essential for an American bettor.

Related: NBA Public Betting Guide How to read American Odds? They could be represented in the American way (+ or -), as a fraction(2/1), or as a decimal (2.0). These are the kind of outcomes a sportsbook tries to predict using odds. For instance, in a football game between the Patriots and Green Bay Packers, there are two likely outcomes: Betting odds are figures compiled by sportsbooks to indicate what they feel is the probability of an outcome happening in an event.

Kelly calculator for sports betting american odds