Odds in sports betting are the likelihood a certain event will happen during the event. Most of the time odds are expressed in the payout given for betting on a certain action. Odds makers before action begins come up with the probability of a certain action occurring, or for the most part, a team winning the game. Typically odds are done by a computer model that analyzes performances to make predictions of the outcome. One thing to keep in mind, odds makers have all of the information they need in regards to a sports action. If they were not making money, sports betting would not continue to exist.
Odds will move up or down once they are opened up. The odds will be moved based on the amount of money that is placed on a certain side.
Sports betting odds include money line, point spreads and totals. Moneyline bets are when bettors place money on a certain team to win a game straight up. Of course those teams that have better odds pay out less if they win. Those that are the “underdog” will pay out real well due to having worse odds of winning the game.
Point spreads are when the odds makers give a “line” of how many points the favorite is expected to win by. You will hear the terms “giving points” and “getting points”. Those “giving points” are the team that is expected to win. They are taking their points and subtracting whatever the “odds” are. To win the bet on a point spread they will have to win by that amount of points.
Totals are when odds makers predict how many total points, runs, goals; etc will be scored in a game. Bettors get the option of selecting the “over” or the “under”. If you bet the over, you are saying that the total amount will be more than the odds makers placed.
When looking at sports odds, be sure to do your homework. “Shop” for the bets odds you can find on certain action. Many books will provide different odds, and many times a game will come down to the point, or half point that you could have gotten at another book. Often times, a lot of bettors will wait until right before the game to make their bet. There are also other bettors that like to take advantage of the opening line. Make sure whichever side of the coin you select; you are making the bet because you feel you have a distinct advantage with the bet.