Let’s take a closer look at some of these basic principles of odds. Learning how to read odds and what to use that information for will help you make successful wagers. Experts in sports betting know the answer to the question, “how do odds work?” and can use that information to decide which outcome the bookie considers more likely. HOW DO ODDS WORK?īetting odds are determined by a number of calculations factored in by sportsbook providers. So how do odds work anyway? Let’s break it down in the next section with the basics of betting odds explained.

Learning how to read odds is the foundation of developing a successful sports betting strategy. Conversely, betting on the less likely outcome correctly pays much better. The more likely an outcome is, the less you can make wagering on that outcome. Check out our guide and have all of your questions on betting odds explained below.īetting odds are a measure of how likely or unlikely a sportsbook finds an event to be. You may be wondering how to read odds, or even how do odds work? Well, you’ve come to the right place. Providers in these states are already offering betting odds on all of your favorite events.īut if you’re new to sports betting, all the information may seem a bit overwhelming. Since the end of the federal prohibition on sports wagering, several states have legalized sports betting. Sports betting is taking off across the United States.