In sports betting, If a team is listed at +1000 odds to win a game, this means that for every $100 you bet on that team, you would win $1000 if they were to win the match.
So, if you were to place a $100 bet at +1000 odds and your team wins, you’d receive $1100 – $1000 in profit and your original $100 bet.
The Impact on Your Betting Strategy
Understanding odds is an important part of any betting strategy. The higher the odds, the less likely your bet is to win. However, higher odds also mean higher potential returns.
Therefore, betting on an underdog with +1000 odds might be riskier, but it could also lead to a substantial payout if they pull off an upset.
Real-World Example
Consider a hypothetical boxing match where Team A has +1000 odds to win.
If you decide to place a $100 bet on Team A and he wins the match, you would receive $1000 in winnings, plus your original $100 bet, for a total return of $1100.
When Should You Consider This Type of Bet?
Betting on +1000 odds might seem risky, but it can be worth considering if you’ve done your research and believe that the underdog has a good chance of winning.
High-odds bets can offer a significant return on investment if they end up winning, though generally, they don’t always win as often as favorites.
Finding the Most Profitable Odds
While understanding odds is essential, it’s also important to compare odds across different sportsbooks to find the most profitable ones.
Tools like OddsJam can help with this, allowing you to see the odds offered by various sportsbooks side by side so that you can bet one the best ones for greater returns on your bets.