They tell you which team or player is more likely to win, and they give you an idea of how many sportsbooks think a favorite would win and what you stand to win betting on one outcome or another.Įssentially, odds are there to help you make an informed decision but keep in mind that this is only the sportsbook’s opinion based on complex algorithms that calculate probabilities in the background. What Do Betting Odds Mean?īetting odds achieve three essential things.

While many calculators exist out there that can crunch the numbers for you, familiarizing yourself with how lines work is essential to becoming a skilled sports bettor, and focusing on the bets that are worthwhile hold the key to a big win. Ever wondered what the ‘+’ or ‘-‘ means in odds? For those of you looking to learn how to read betting odds, you will find the following guide to be a perfect and detailed breakdown of how odds work, what probability they carry, and how you stand to benefit from this new knowledge.

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