In order to ‘cover’ the spread, favourites must win by more than the spread indicates. Spread bettingīecause not all teams are equal, the point spread is the oddsmakers’ way of evening out the game from a gambling perspective. So a bet of that size on Saskatchewan at +140 could win $140 in profit and a total return of $240. When the odds are positive, the number equals how much you’d win if risking $100. So you’d have to risk $160 on Toronto to win $100 in profit for a total return of $260 counting the initial wager. With favourites, the negative line indicates how much you have to wager to get back $100 on a winning bet. The moneyline itself can be used to calculate potential wins and losses, based on the number $100.
Oddsmakers project favourites to win the game and they will have a negative line, while underdogs will have a positive symbol next to their odds. Teamsīetting moneylines involves simply picking which side you think will win the game. There’s no better way to understand than by using an example, so let’s take a look at a set of odds for a Canadian Football League matchup to help describe what each bet type looks like using American odds.
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These are the three most basic bet types out there, and this is the place to start if you’re looking to understand how to read odds for any market you see. If you’ve ever been anywhere near a sportsbook, you’ve likely seen or heard these terms before. You’ll notice that for the most popular ones, the sportsbook displays three bet types: the moneyline, spread, and total (over/under). Once you open your application, you’ll be able to view a menu of sports that will display game lines for any sport that is offered by the site. If you don’t understand both formats, you’re setting yourself up for confusion and mistakes. While doing research, you may see one form or the other in certain spots. Odds from 1.01 to 1.99: -100 / (Odds – 1) = AmericanĮven if you typically stick to one format, it’s still a good idea to have a handle on how to read both styles of odds.Odds of 2.00 or greater: (Odds – 1) * 100 = American.While it’s possible to find a discrepancy here or there, the numbers on both sides will generally line up and are easily convertible. When reading decimal odds, the lower of the two values is for the favoured side. On the American side, negative numbers indicate favourites, and underdogs usually are positive. For a standard moneyline bet, here’s an example: You can typically toggle between the two formats, depending on preference.
Sports betting odds will appear in one of two ways at Canadian sportsbooks: American or decimal. This guide will cover everything that you need to know about betting at Canadian sportsbooks when it comes to reading betting odds, the different bet types available to you, and how to place wagers now that the number of options has expanded in Ontario.
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Regardless of where you land on the sports betting experience spectrum, a full understanding of the odds board and what it’s telling you is key. With betting expanding in Canada and the number of mobile betting sites in Ontario growing, more and more people will be gaining experience with these apps, whether they are just casual bettors or hardcore sports fans.
From daily moneylines, spreads, and totals, to props and futures, a sportsbook is nothing if not a collection of different sets of odds.
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