People often say that knowledge is power. That is certainly the case in the world of sports betting. The more you know about the various teams and competitors, the more informed your betting decisions will be. Similarly, the more you know about the odds available from sportsbooks, the easier it will be for you to strike your bets at the best odds available. That’s why we here at How To Bet encourage all bettors to make use of Live Betting Odds whenever possible.
In this article, we will explain what live betting odds are and why they are so helpful. We will then provide a step-by-step guide on how to use our Live Betting Odds widget. You’ll learn how betting odds work and how to read betting odds for the Moneyline, Point Spreads, and Totals markets. Finally, we’ll give you some practical advice on various ways to apply live odds to your betting life before rounding off with a betting odds FAQ.
Live betting odds are simply betting odds that are updated in real-time. All online sportsbooks adjust their odds for an upcoming event according to a variety of factors. Those factors might include the latest results in other events, fitness or injury worries, weather concerns, the weight of betting in the market and so on. Because such changes are made as and when a sportsbook deems it necessary, you can’t expect betting odds to remain the same from hour to hour. Let alone from day to day or week to week.
Since betting odds change, any betting decision you make should always be based on the most up to date odds available. This is especially the case if you are an experienced bettor who understands the importance of value. What might be a poor value bet at one time might actually be a good value bet later on, when the odds have drifted. Of course, the converse is also true when the odds contract. Having ready access to live betting odds can therefore help you to make the best decisions based on the latest information.
Keeping yourself up to date with the latest odds available from multiple sportsbooks used to be quite a time-consuming task. You’d have to visit each sportsbook in turn and note down the odds manually. Fortunately, that’s no longer the case. Here at How To Bet, we work hard to make your life as easy as possible. That’s why we have developed a Live Betting Odds widget that does all the hard work for you.
Using the Live Betting Odds widget is both simple and straightforward. However, it incorporates several handy features that are worth pointing out. Here, then, is our step-by-step guide to using the widget for the first time.
At the top of the Live Odds widget are three buttons. Clicking any one of those buttons will show you a pull-down menu from which you can make a selection. The first button allows you to select the sport that you want to view odds for.
Right now, you can use our Live Odds widget to view odds for five sports. Those are the NBA, NCAA Division 1, NHL, UFC and Premier League. Select the sport you are interested in, and the widget will display the relevant odds.
When you have selected the sport you want to look at, you can click the second button. This will show you the available betting markets for that sport.
The available betting markets will obviously vary depending on the sport you select. Having said that, our Live Odds widget is equipped to deliver odds for the Moneylines, Point Spread, Totals and Puckline markets, as and when applicable.
The state that you intend to bet in will determine which sportsbooks you can bet with. You should therefore click the third button to view a pulldown menu of all the states where online sports betting is currently available.
Select the state that you want to bet in, and you will see that the columns on the right-hand side of the widget change to show the sportsbooks in that state. Some states, such as Pennsylvania, might only have one or two sportsbooks, but others, like New Jersey, will have many more.
The Live Odds widget will automatically show you the most popular markets in time order. That enables you to see the markets for the events that are due to take place soonest at the top of the widget. If you want to explore more markets, simply click the long LOAD MORE button at the bottom of the widget.
This will expand the widget vertically so that more markets can be displayed. Of course, that is subject to there being more markets to view. If no more markets are available, no change will be seen. On the other hand, you may need to press the LOAD MORE button several times if there are quite a few markets to browse through.
The odds displayed in our Live Odds widget are color-coded so that you can see what’s going on at a glance. The color code used is as follows:
When you find odds that are attractive enough for you to want to bet on them, we’ve also made that very easy. Simply click the odds you want, and you will be taken directly to the sportsbook offering them.
Because you may want to use our Live Odds widget to explore other betting opportunities, the sportsbook will be opened in a new tab in your browser. The widget will therefore continue to be available in your current tab.
How do betting odds work is a question that many new sports bettors ask. While betting odds can sometimes look confusing at first, they are actually quite simple to understand. To illustrate, we will now explain how odds work in the Moneyline, Point Spread and Totals markets.
In a moneyline market, odds are prefixed by a + or - sign. The + sign means that a winning bet would win you more than your stake, and the - sign means that a winning bet would win you less than your stake. In both cases, your stake is also returned if your bet is successful.
Note that you can, of course, bet less and your profit would reflect the lower outlay. Bet $10 at odds of +150, and you would make a profit of $15 if it wins.
In a Point Spread betting market, the sportsbook tries to even things up so that it can offer similar odds about both teams involved. It does this by giving the underdog a theoretical advantage and the favorite a theoretical disadvantage. For example, a sportsbook might quote the following:
Here the Spurs have been given a -2 handicap, and the Wizards have a +2 advantage. The odds for each team are -110. If you bet on the Spurs, they need to win by at least 3 points for your bet to succeed, thanks to the -2 handicap. On the other hand, if you bet on the Wizards, they would simply need to lose by less than 2 points or win for your bet to succeed.
The odds offered in a Totals betting market concern the total number of points that will be scored in a match. You don’t need to predict which team will win. All you have to do is predict whether the total will be over or under a stated figure. Consider the following:
Here you can see that the sportsbook is offering odds of -110 for over 228.5 points, and odds of -110 for under 228.5 points. Bet on Over, and the game would need 229 points or better for your wager to succeed. Bet on Under, and it would win if there are less than 228 points in total.
As you have seen, our Live Betting Odds widget is simple to use but incredibly useful. This is a tool that you can use in a number of ways, and we have no doubt that you will sone come up with a few ideas of your own. In the meantime, here are three ways in which the widget can be used from the outset.
The first way you can use the widget is as an easy schedule viewer. If you’ve ever wondered what games are happening in the next few hours or days, you’ll know that finding that information isn’t always easy. Use the Live Betting Odds widget, however, and you can simply select the sport you are interested in. All of the upcoming games will then be displayed for you in chronological order.
If you are new to sports betting, you might find it hard to know whether or not your predictions are in line with expert opinion. Our Live Betting Odds widget now gives you a quick way of seeing how the sportsbooks experts view an event. If all of the sportsbooks think that an event will go in a particular direction, that might give you more confidence in your opinion if you also think it will go the same way.
On the other hand, if your view is opposite to that of the experts, or the sportsbooks seem to have differing opinions, you might want to trade a bit more cautiously. It isn’t that the sportsbooks are always right, of course. But at the beginning of your betting career, you might be a lot better of siding with them than you would be opposing them.
When you have decided what you want to bet on, our Live Betting Odds widget makes it easy for you to find the best odds around. Even better, you only have to click those odds to go direct to the sportsbook and place your bet. This ‘seek and deploy’ approach to the widget can be very useful in finding great odds and taking advantage of them before they change!
Betting odds are numbers that tell you how much you can expect to win from a winning bet. A winning $100 bet at odds of +200 would therefore give you a profit of $200, while a winning $100 bet at odds of +800 would give you a profit of $800.
Betting odds are set by odds-makers. Those are expert analysts who look at all the variables involved in a sporting event and use statistics to try and predict the most probable outcome. A lot of this work is done by computer these days, but odds-makers are still in the driving seat.
There is no schedule to which sportsbook adhere. Odds are changes according to betting demand and the latest information that the odds-makers have available. All we can say is that our Live Betting Odds widget will show you the most up to date odds around.
The odds in our Live Betting Odds widget are displayed in American format. Should you want to convert them into their fractional or decimal equivalents, simply use our free Betting Odds Converter tool.
Value odds are those which, if your ability to pick winners is average, will help you to make a profit over the long term. You can calculate the value of any odds (according to your own view of the event) by using our Odds Value Calculator.
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