If the odds were even (also represented as +100 in American sports betting), an $11 bet would have a payout of $11 (so a total return of $22). This means for every $10 you want to win on a spread bet, you have to bet $11. Instead, they offer odds of -110 for each side of a point-spread wager (we’ll dive into moneyline odds later). However, sportsbooks don’t operate this way. Because of the theoretical 50-50 outcome, you would expect to get even money in return for a coin-toss bet-in other words, if you bet $10 on heads and the coin lands on heads, you would expect to receive $20 ($10 original bet, $10 profit). Vig amounts vary from sport to sport and wager to wager, and it’s not always easy to determine the vig from reading the odds.Ī good example would be a coin toss that has an equal chance of landing either heads or tails. Think of it as the casino’s cut for the service it provides. Vigorish (also known as “vig” or “juice”) is the name given to the amount charged by the sportsbook for taking your bet. They also reflect how much money bettors must risk to win a specific amount-that is, the potential payout. Betting odds are a tool that reveals an oddsmaker’s opinion (or stance) on a particular game, event or proposition. The first thing to know about betting odds is what they represent. Here is a list of our partners who offer products that we have affiliate links for.

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How to bet smart on sports