Understanding Sportsbook Odds: Your Guide to Winning Bets

Before you engage in robust or committed Sportsbook play you want to know the odds involved in winning and losing. After all, if the record shows that any particular sportsbook has its results skewed towards the losing side, then that’s probably one to avoid! All online casino gamers want is a fair crack at it - which shouldn’t be too much to ask, right?! With that said, you really should take a moment to understand how online casinos and sportsbooks characterize the odds associated with playing their games. It will not only help you make a distinction between the different options, but it will help make doubly sure that all transactions are on the up-and-up - even with established, trustworthy gaming spots.

Basically, in a sportsbook, the odds are the probability that you obtain the outcome favorable to you, as prescribed by the rules at the start. This doesn’t always mean your team wins the game; it could mean that they have to win or lose by a certain point spread (or within this spread). Depending on which one you choose, you can win a lot more if the stakes are higher than not. The Sportsbook odds simply tell you how likely the desired event is to occur; the more likely, usually the smaller the potential prize. The less likely, the bigger the potential prize.

A Short Primer on Statistics and Probability for Sportsbook Success

In school, you might have found probability to be a bit daunting - but that’s because mathematics generally isn’t taught very well, with an eye towards real-world practically. Here, we will show you how probability helps you predict the likelihood that a certain, well-defined event will occur, which then allows you to assign your potential winnings to it at a casino or sportsbook. We can see this most easily in the rolling of dice in the Specialty Game, Craps, for example. Because there are 6 sides to a die, the probability that you roll a 1, 2, 3, 4, 5 or 6 is 16.67%. OBviously, depending on how the game has proceeded to this point, some of the numbers are more valuable than others even though the chance of landing any of them is identical.

Inside the Sportsbook Odds - How Probabilities Are Expressed

Let’s take the example of 1/10; this is delineated as a fractional odd, and allows the player to calculate the likelihood of an event - to which prize pools are assigned by the Sportsbook/Casino House. Online, this is of course handled by software with industry-standard reliability and trust, as vetted by numerous independent organizations. In any case, by performing the division as listed on the page, you get the probability that the event will occur in decimal or percentage expression - which you are probably more used to. An event probability expressed as 9/1 corresponds to 1/(9+1), which is 0.10 or a 10% chance that the event will happen. Thus, using the same formula, 4/1 gives a 20% chance something will happen, 1/1 means 50% chance, and ¼ corresponds to an 80% that the prescribed event will happen. All it takes is playing the games to become intimately familiar with these numbers; they will become second nature in no time as you merge fully into the Sportsbook.

The Money Associated with Sportsbook Odds

Of course, as you would expect, the casino is very careful about what monetary amounts they apportion to the various odds. As a general rule, events that are extremely likely to occur will probably not garner you much money if you win. But, for example, if you were to bet on a Floyd Mayweather fight (the mostly retired, undefeated world champion boxer), then placing a bet that he would lose his next bout would likely land you a life-changing sum of money if he did, indeed, lose - because most people would be betting on him to win. The best predictor of future behavior, after all, is past behavior - for the most part.

Now, with all that said, in an online sportsbook, if you see the figures 9/1 with $1 per bet (made by you), then this means you stand to make $9 for every win. If, instead, you see 4/1, then you stand to win $4. For the delineation of 1/1, you’re in line to win $1, and for the very likely (80%, remember) ¼, you only win $1 since there’s not much risk involved with these odds and very few people are betting against the particular event. Keep in mind that although the above has been expressed in fractions, most Sportsbook odds are actually expressed in decimals on the actual app or exchange - although there’s sometimes a feature that allows you to switch between either to find which expression is more comfortable for you. Additionally, you can always find and use a bet calculator; there are numerous ones on the web.

Ultimately, then sportsbook odds, whether they are expressed as a decimal or fraction, represent the statistical likelihood of an event occurring. The amount of money you can win depends on this, given the reality that extremely likely events simply will not have much of a payout since all the other players are betting in favor of it, and there’s not much oppositional money to drive the take higher.

Sportsbooks at Which to Try Your Luck

Because of the sheer number of available Sportsbooks, it can be quite the burden to find the ones which have been deemed reputable and completely trustworthy. Of course, the length of time for which they have been in business matters a whole lot, because no establishment can persist if it does not give the people what they want. However, that notwithstanding, you still want help making a distinction between subpar sportsbooks and those that are on the up-and-up - and this short list is a good start.

Bovada Sportsbook is one which has above-board sportsbook odds, as well as a wide variety of different sports and events on which to place bets in the hopes of securing the win of your dreams. To set the party off right, Bovada hits you with a 50% Welcome Bonus that’s good for deposits of up to $500. Additionally, as if this wasn’t enough, you can count on some extra cash for the so-called free bet option, which means that you are receiving money upon money just for being a patron at Bovada Casino. If you’re a committed equestrian - or even just a casual horse race lover - then you’ll love the wonderful bets that are taking place inside the Bovada Casino lobby on the sports-betting side.

Lastly, let’s take a short look at the multitude of wager-types to which you have access. Familiarize yourself with them in order to improve the number of betting options at your disposal, and learn which one works best for you through research, trial and error. Quinella is an advanced wagering technique, as are Superfecta and Exacta. Trifecta is holding court at Bovada Sportsbook, and the Daily Double often takes the cake. As a member, you are privy to 5% Cashback offers depending on which day you show up - if this particular feature is activated. It is not so strange to jump-skp from horse-racing to eSports, since there is plenty of the latter at Bovada. Toss in the ability to bet with healthy above-board odds in professional basketball, hockey, soccer and even swimming, and you’ve got yourself a Grade-A online gambling establishment.

Try Your Luck at 5Dimes Sportsbooks - the Odds are Legit

With a multitude of sportsbook lines and wagering options, 5Dimes Sportsbook takes the prize when it comes to the sheer magnitude of things on which to gamble once you become a member. From the ability to bet on point spreads and results from the top professional sports, to eSports gaming events, they’ve got everything in one place here. As an example, consider the NFL Build Your Own Prop promotion that lets you take full advantage of the Reload Bonuses that are delivered into your account after account creation. Couple this with the MLB Dime Lines and you’ve got yourself a site website to be reckoned with.

How to get started at 5Dimes? Well, given that they accept a wide range of deposit options, you need only come with your bank account, Bitcoin address/wallet, Neteller account or even money order at the ready. Download the casino software to activate entry and make a deposit; your welcome bonus is on the way and will be deposited into your account shortly. Ask the customer support any questions you like should you run into any issues, or if you simply have comments. The gambling is just moments away, and perhaps you can parlay your knowledge of teams and players into some big wins.

Alternatively, Try Your Luck With the MyBookie Sportsbook Odds

MyBookie makes quite the splash when it lands its delicious 100 Match Welcome Bonus for up to $1000 on your head! Although a minimum deposit amount of $100 is required, this shouldn’t stop even the most frugal real money player since the casino is willing to put up as risk as you are. If you’re worried about the sportsbook odds here, rest assured - it’s operated by the same top-notch admins as the other casino/sports-betting hybrids reviewed by Sunshine Sportsbook. Most of the available deposit options have a 50% bonus attendant with them, improving your outlook by providing with plenty of free gambling action.

The setup on the MyBookie Sportsbook site is a bit different than most of the others you’d find; first of all, you choose a sport by using a drop down menu to locate the one you prefer. In fact, there are so many options here that a traditional list just wouldn’t do without causing the page to appear cluttered. You will find football, tennis, horse-racing, soccer and even synchronized swimming to bet on if the time of the year is given to that. Join MyBookie Sportsbook today by creating an account after you download the software; you can confident that the odds are legit.

Conclusion for Understanding Sportsbook Odds

In conclusion, never take the prospect of sports betting odds for granted. Just because one casino has certain odds per team sport listed on their site, doesn’t mean that even a sister site will have the same numbers. Investing the time to nose out these numbers can make a world of difference in how much you win when you’re on a good streak, and how much you lose when you’re a bad one. No matter how much you hear or read the term “gambling”; the more you know about your teams and players, the closer your gambling comes to investing. Start modestly, and never bet more than you are willing to lose;the big bucks are won in the statistics; not in the bankroll.

Internet sportsbook odds are taking the online space by storm, and this collection of the top ones are sure to get you off to a great start. Although you can only create a single account per casino/sportsbook; there’s nothing stopping you from making your presence felt at each one these at the same time: MyBookie, Bovada, Betonline.ag, 5Dimes and any others to be added in the near future.