Important Information to Extract from Sports Odds

When you look at the odds for any sports bet, what you need to do is extract the information that it contains. To do this is easy enough, but first you need to know exactly what information they possess!

Wager, Payout, Winnings

Generally speaking, these are the three pieces of information contained within sports odds – so it is essential that you know what they are.

In simple terms, the wager is the amount that you are betting whereas the payout is the total amount that you'll get back if you win (including your wager). Needless to say your winnings will be the profit that you make for a win and so it is essentially the payout minus the initial wager.

Some odds will tell you what your winnings are based on a certain wager (such as fractional odds and American odds), whereas other odds will tell you what your total payout will be for a certain wager (such as decimal odds).

Whatever the case, once you know either the wager and the payout or the wager and the winnings, calculating the entity that you do not know is easy.

If you know the wager and the winnings then: Payout = Winnings + Wager
If you know the payout and the wager, then: Winnings = Payout - Wager

Of course, sport odds can tell you other information as well as a result of knowing the wager, payout and potential winnings. At a glance you should be able to know which team is the favorite in a particular match-up, and also how much of a favorite they are!

Some online casinos and bookies may even offer resources to help you extract information from their odds, and others such as may even go the extra mile and give you information about the teams too.

Based on all that knowledge, you should be able to make a much smarter bet!