When betting on sports, it is common to come across odds with a negative sign in front of them. Many bettors are left wondering what negative odds mean and how to use them when placing their wagers. This article will explain what negative odds mean, how to use them, and how to calculate your potential winnings.
What Are Negative Odds?
Negative odds are a type of betting odds that indicate the likelihood of a particular event occurring. They are expressed as a fraction or a decimal, with the decimal being the more common format. Negative odds indicate that the event is less likely to happen than not. The higher the negative odds, the less likely it is that the event will occur.
For example, if a football team’s odds are -150, this means that they are the less likely to win the game than the opposing team. The negative sign indicates that the team is the underdog.
How To Use Negative Odds
When placing a bet, the bettor will need to choose which team or individual they think is most likely to win. In the case of negative odds, the bettor will need to decide if the team or individual with the negative odds is worth the risk and if they believe that they have a chance of winning.
If the bettor believes that the team or individual with the negative odds is the favorite to win, then they should place their bet on that team or individual. This is because the bettor is getting better odds than if they were to bet on the opposing team or individual.
If, on the other hand, the bettor believes that the team or individual with the negative odds is the underdog and has a lower chance of winning, then they should avoid placing their bet on that team or individual. This is because they are not getting good enough odds to make the bet worth the risk.
Calculating Potential Winnings
When betting on negative odds, it is important to calculate your potential winnings before placing your bet. To do this, you must first multiply the odds by the amount of your bet. This will give you the total amount that you will win if the bet is successful.
For example, if you bet $100 on a team or individual with -150 odds, then you will win $66.67 if your bet is successful. This is calculated by multiplying $100 by -150, which equals -$15,000. This is then divided by 100 (the amount of your bet) to get $66.67.
Conclusion
Negative odds are a type of betting odds that indicate the likelihood of an event occurring. They are expressed as a fraction or a decimal, with the decimal being the more common format. Negative odds indicate that the event is less likely to happen than not. When betting on negative odds, it is important to calculate your potential winnings before placing your bet. This will help ensure that you are making the most informed decision possible and that you are not taking on unnecessary risk.