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Sports Then and Now



Understanding Sports Betting Odds 0

Posted on October 02, 2019 by John Harris

Sports betting has grown to become one of many avenues sports enthusiasts use to make money from watching their favorite sports. While it may seem like a straight forward activity, most people dive into sports betting without understanding how it works.

To be able to understand sports betting altogether, you need first to know how betting odds work. Odds are an essential wager of any sport. Odds are used to determine whether a particular game is worth investing in or not. The game odds determine the payout of bet placed, and how much you put as your bet.

Read on to find out what odds are and what role they play in sports betting.

Understanding odds

In sports betting, odds are used for two reasons. First, odds are used to calculate the winnings wager. Each time a bet is placed, you are offered odds for your bet. These odds have an impact on how much you stand to win should the game go in your favor.

The other importance of odds is their ability to reflect the likelihood of specific outcomes in the sports industry. Odds decrease with the increase in the possibility of a particular outcome. It makes sense since people are more inclined to bet on likely outcomes than on unlikely outcomes.

Odds formats

The founding principles of odds are quite easy to understand. People tend to get a bit confused when trying to understand the three odd formats.

Generally, there are three odds formats. They are decimal odds, American/Moneyline odds and fractional odds. You are likely to encounter all three odd formats at different points of your betting life.

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  • Vintage Athlete of the Month

    • Drew Pearson: Mr. Clutch
      August 7, 2021 | 6:59 pm

      Drew Pearson

      The Sports Then and Now Vintage Athlete of the Month is a former NFL wide receiver know as “Mr. Clutch” for his penchant for making big receptions at crucial moments of the game. After waiting for more than 30 years, he is finally earning his rightful place in the Pro Football Hall of Fame as a member of the 2021 Hall of Fame Class.

      During his decade with the Dallas Cowboys, Drew Pearson had a habit of making the big catch at the right moment to help the Cowboys time and again snatch victory from the jaws of defeat.

      The favorite target of Hall of Fame quarterback Roger Staubach, Pearson was widely recognized as one of the great receivers of his era. Though at the time of his retirement many expected Pearson to easily breeze into the Hall of Fame, his enshrinement was derailed by changes to the game which artificially inflated receiver stats and made the numbers he produced during a time when wide receivers weren’t catching 100 passes a season seem inferior.

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