Vig, short for vigorish or juice, refers to the commission that a bookmaker or sportsbook takes on a bet. In summary, odds are a way of expressing the ratio of favorable to unfavorable outcomes, while implied probability is a way of expressing the likelihood of an event happening as a percentage. For example, if the odds of a coin landing heads up are 1.5, the implied probability is 1 / 1.5 * 100 = 66.67%.

It is calculated by dividing 1 by the decimal odds and multiplying by 100. Implied probability, on the other hand, is the likelihood of an event happening expressed as a percentage. For example, if a coin is flipped, the odds of it landing heads up are 1:1 or 'even' odds, since there is an equal chance of it landing either heads or tails. They are usually expressed as a ratio of the number of favorable outcomes to the number of unfavorable outcomes. Odds are a way of expressing the likelihood of an event happening. Implied probability and odds are two ways of expressing the same thing, but they are calculated differently. The plus sign indicates that the team or player is not expected to win, and the odds reflect the amount that you would win if you bet a certain amount. This means that if you bet $100 on the underdog, you would win $200, or any other equivalent amount. On the other hand, in a moneyline bet with an underdog, the odds will have a plus sign (+) in front of the number, such as +200.

The minus sign indicates that the team or player is expected to win, and the odds reflect the amount that you would need to bet to win a certain amount. This means that you would need to bet $150 to win $100, or any other equivalent amount. In a moneyline bet with a favorite, the odds will have a minus sign (-) in front of the number, such as -150. The minus sign represents the favorite, while the plus sign represents the underdog.

The minus (-) and plus (+) signs are used in moneyline odds to indicate the favorite and underdog in a particular betting market. They are used to calculate the potential payout of a bet and to indicate the degree of risk involved in a particular wager.īetting odds can be expressed in different formats, such as fractional odds, decimal odds, or moneyline odds, depending on the region or the sportsbook that is offering them. Betting odds are numerical representations of the likelihood of an event occurring.

How to read football odds