How to Read NBA Odds
It may sound obvious, but reading odds correctly is crucial to successful online sports betting. Those who have been put off may fear the math involved. However, you don’t need to be a genius to calculate odds for your NBA betting. This guide put together by our experts will demonstrate the probabilities odds imply and everything you need to know about American odds.
The Different Types of Odds
There are three different formats of odds US sportsbook apps use: American odds, fractional, and decimal. American odds are also known as moneyline odds and are just one way to illustrate odds. These odds are used by sports betting apps that provide for a US betting player base. Some global players would suggest that American odds are more complicated than decimal odds. This is because American odds use a selection of symbols (+) and (-) to demonstrate their odds. If this sounds confusing, don’t worry. Atfirst, it can be, but it will all become clearer with a little bit of understanding of the fundamentals.
American Odds Simplified
The symbols used in American odds give you information about the market you’re betting on in relation to $100.
● If you see a (-) symbol for a team or player, this market is a favorite and has a higher chance of winning than alternatives. It will come with a number that indicates how much money you need to wager to win $100. The larger the number, the more favored the market is, and the more money you will have to bet to make a smaller profit.
Say you’re betting on the NBA on the Milwaukee Bucks -140 against the Orlando Magic. To win $100, you have to bet $140. If the Bucks win, you get your stake of $150 back too.
● With the number that comes with the (+), you can see the amount you can win for every $100 you place. It also shows that this market is the underdogs. The higher the number, the less favored this underdog is, but keep in mind that this means the winnings will be greater. There is potential for big earnings if an underdog you’ve chosen pulls off an upset.
For example, you’re betting on the Chicago Bulls to win at +175 against the Denver Nuggets. If you stake $100 on the Bulls, and they win, you will be looking at winnings of $175 plus your original wager of $100.
Using $100 is the simplest way to understand these odds, but you don’t have to use that amount. You can scale the odds depending on the bet you want to place. For example, from the instances above, betting $1.40 on the Milwaukee Bucks will return $1. Every £1 bet on the Bulls will return $1.75.
MoneyLines vs. Point Spread
There are two ways that sportsbooks use American Odds. Either as a moneyline (Like the examples above) or in combination with a point spread.
Moneylines
Moneylines betting only requires you to wager on the winner of a sporting event. There are no complimentary numbers with this, just odds like we’ve explained. Here’s another example:
● Team 1: -160
● Team 2: +160
Team 1 is the favorite in this matchup. If you bet on Team 1, you will have to wager $16 for every $10 you want in winnings. If a successful bet comes in on Team 2, you will get $16 for every $10 you stake.
Points Spread
Point spreads take the basic ideasof moneylines and try to equalize the field by including margins of victory in the bet. These numbers compliment the odds that we have already seen. For example:
● Team 1: -5.5 -160
● Team 2: +5.5 +160
As before, the odds show you what staking $100 will mean for your bet. In the case of Team 1, the new numbers mean they have to win the game by at least 6 points for you to win your bet. If you want to win $10, you have to bet $16. Conversely, if Team 2 only loses the game by 1-5 points or even manages to win,then that bet will come through. For every $10 you wager, you can make $16.
These concepts are the basics of American odds betting and will let you read the odds offered on the NBA by most US sportsbooks.
NBA Betting with Legal US Sportsbooks
After reading our expert guide, you may feel ready to try out some betting for yourself. Since 2018 when the US Supreme Court deemed PASPA unconstitutional, US states have been legalizing online sports betting for themselves. Many states, including Michigan, Pennsylvania, New Jersey, and many more, have passed the necessary legislation. More are looking to do the same. Check to make sure your state has legal online sports betting, download a sportsbook app, and start betting on NBA markets.
