In the world of sports betting, the odds are set to create two possible outcomes, the winner and the loser. Live sports betting lines are constantly updated by the bookmaker to ensure that the odds reflect what is happening in a match. So if the match so far shows that the original team, which was said to be the favorite of the day, is doing well then the odds will remain in their favor. However, if the original team’s performance takes a nosedive during the game then the live sports betting lines are updated by adjusting the odds for the favorite and the underdog team.
How to read live sports betting lines?
If you want to take sports betting up as a hobby or another way to diversify your income, (we don’t recommend it but some people make a living off sports betting), then you need to know how to read live sports betting lines. If you’re presented with sports betting lines, then to make a bet you need to understand what are your odds. The website uses numbers to represent odds which can help you determine your payout. For example, if you want to know how much dollar money you will receive if you bet on a team to win, then you need to be able to read the sports betting lines.
Usually, at traditional bookies or how betting was done in the old days, players who did not have any knowledge of sports betting would approach the bookie and understand his odds of playing. However, if you’re one of those people who find traditional bookies to be old school then you need to know how to read sports betting lines as you won’t find online sports betting websites having bookies to explain you. Yes, there are FAQs and guidelines on the website but you would need to go through them to find what you’re looking for. Good thing for you, we’re here to show you how you can read your odds.
Let’s have a look at an example, it’ll make it easier to understand how you can read the sports betting line.
Example of how live sports betting line works
Let’s take a look at the boxing match between Mayweather and McGregor that took place in the year 2017. The bookmaker had already decided after analyzing the game stats that Mayweather was the favorite team while McGregor was an underdog. The odds started at -500 for Mayweather and +400 for McGregor.
By the numbers, if you would put $500 on Mayweather to win, you would easily receive $100 extra at the end of the game. However, since McGregor was considered to be an underdog placing a bet on him would result in a huge win if he had won. So, if you were to put $100 on the aggressive bold Irishman, upon winning you would receive $400. The -500 and +400 and the margin line between is known as sports betting line.
Now during the match, other odds can be set by the bookmaker as well. They can create odds for finishing the match under 5 minutes, landing more than 50 punches, and so on. It depends on what kind of odds the bookmaker can provide. However, whatever odds they place, reading it would be similar to the example we shared on Mayweather and McGregor.