For those who are new to betting, understanding the concept of minus odds can be confusing. When you see the term “minus odds” it can be intimidating and make you wonder how it all works. But, in reality, minus odds are quite straightforward and easy to understand. In this article, we’ll explain what minus odds are, how they work and how to interpret them.
What Are Minus Odds?
When it comes to betting, odds are used to determine the probability of an event occurring. In the world of sports betting, odds are expressed as a numerical representation of the likelihood of a team or player winning a match or event. These odds can be expressed in decimal, fractional or American form.
The minus odds format is often used in American sports betting, primarily in football and basketball. In this format, a negative sign is placed in front of the odds to denote the favorite. So, minus odds can be expressed as -100, -110 or -150, for example. The larger the number, the bigger favorite that team or player is.
How Do Minus Odds Work?
When it comes to how minus odds work, it’s important to understand how minus odds are calculated. In American odds, the number after the minus sign is the amount of money you must wager to win $100. So, if the odds are -150, that means you must wager $150 to win $100.
It’s also important to understand how to calculate your winnings using minus odds. To calculate your winnings, you must divide the minus odds by 100 and then multiply the result by the amount of money you bet. For example, if the odds are -150 and you bet $150, your winnings would be $100.
Interpreting Minus Odds
It’s important to understand how to interpret minus odds. Generally speaking, minus odds indicate the favorite, as the larger the minus sign is, the more likely it is that team or player will win. A larger minus sign means the team or player has a greater chance of winning.
On the other hand, a smaller minus sign indicates that the team or player is less likely to win. So, if the odds are -100, it means the team or player is the favorite but not by much.
It’s also important to understand the concept of “juice” when it comes to interpreting minus odds. In sports betting, juice is the percentage of a bet that the bookmaker keeps. For example, if the odds are -150, the juice would be 10%. This means that the bookmaker keeps 10% of the bet, while the bettor receives the other 90%.
Conclusion
Minus odds are a popular format used in American sports betting. They are used to denote the favorite and the larger the minus sign is, the more likely it is that team or player will win. It’s important to understand how minus odds are calculated and how to interpret them in order to be successful in sports betting. With a little bit of practice, understanding minus odds can become second nature.