WATCH: How Betting Odds Work – Sports Betting Odds Explained (video)

How DO betting odds work? What does it mean when someone says the odds are 10-1? What’s an “odds on favorite” and should you bet on one?

Kevin from The Sports Geek tells you everything you need to know!

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Most sports betting sites use American style betting odds and a lot of people seem to have troubles understanding how to read the betting odds and how exactly they work. In this video I do my best to quickly explain how American style betting odds work.

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In the video I give an example using both negative odds (-110) and positive odds (+150) to show you the difference. The key is with the sign in front of the numbers. The negative sign shows you that the odds are showing you how much you need to risk in order to win $100, while the positive sign shows you how much you will win with a $100 wager.