When you first dive into the thrilling world of sports betting, it can feel like you’ve stepped into a foreign language class.
Terms like “moneyline”, “against the spread”, “over/under” are thrown around, and suddenly, you’re faced with numbers like “-2000”. What do they mean? How do they work? Let’s break it down.
In sports betting, odds are represented in different formats, but one of the common ones is the American odds. They usually come with a plus (+) or minus (-) sign before them.
A negative (-) symbol, like in our case, “-2000”, indicates the betting favorite.
This number reveals how much you need to bet to win a particular amount. So, if your odds are -2000, you would need to bet $2000 to win $100.
Betting Strategy & The Real-World Example
So, how does this information translate into your betting strategy? Let’s consider a real-world example.
Suppose you place a $100 bet on a team with -2000 odds. According to the rules we just learned, you’d stand to win $5 if your team comes out victorious.
When Should You Consider This Type of Bet?
You might be wondering, “Why would I risk $2000 to win only $100?” That’s a valid point.
The answer lies in understanding that -2000 odds indicate a strong favorite. They are typically attached to outcomes that are highly likely to happen.
While the potential payout is small, the risk is also comparatively lower.
If you’re confident about the outcome and prefer safer bets over high-risk/high-reward scenarios, this could be a betting option worth considering, but in most cases, I wouldn’t recommend betting on such odds.
You’re essentially risking too much for too little of a payout.
Finding the Most Profitable Odds
Now, wouldn’t it be great if there was a way to compare odds across multiple platforms and find the most profitable ones?
Well, you’re in luck. Odds comparison tools like OddsJam do exactly that.
It can help you identify the best odds available for your chosen bets, ensuring that you get the maximum potential payout.