In sports betting, odds are a way of expressing the probability of a certain outcome.
When you see a negative number like -225, it essentially means that the team or player is favored to win.
The number following the negative sign indicates how much money you would need to bet to win $100.
So, in this case, you’d need to wager $225 to potentially win $100.
How does this affect your betting strategy?
If you’re confident that the favorite will indeed come out on top, placing a bet despite the lower payout could be a safe move.
However, if you’re not as certain, you might decide to take a chance on the underdog for a potentially higher payout.
A Real-World Example
Let’s break it down with an example. You’re looking at a basketball game where Team A has odds of -225. This means that Team A is the favorite to win.
If you decide to place a $100 bet on Team A, and they win, your total return would be approximately $44.44 ($100 divided by 2.25).
This amount ($44.44) is your profit, and you’d also get your original $100 bet back, so you’d receive around $144.44 in total.
When should you consider this type of bet?
You should consider this type of bet when you have high confidence in the favorite’s ability to win.
Even though the potential payout isn’t as high as betting on an underdog, it can still be a profitable strategy if you’re able to accurately predict the outcomes of games.
Finding the Most Profitable Odds
One way to increase your chances of making a profit in sports betting is by comparing odds across different bookmakers to find value bets.
This is where odds comparison tools, like OddsJam, come into play.
It allows you to find the most profitable odds for any given event, helping you maximize your potential returns.