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Find not just odds and stats, but in-depth information, live updates, weather reports, injuries, ATS, matchup info and more, to help you bring your betting skills to new heights. OddsTrader is a free service dedicated to helping sports. We will explain the basics of sports betting odds to help you get started in the growing industry and get you on the right track. We also have a dedicated live odds feed so you can compare the odds across Indiana sportsbooks. Below you’ll find real-time odds.

Types of betting odds

Sports betting is slated to be introduced to multiple new markets every calendar year moving forward. That naturally means hordes of new bettors will constantly enter the marketplace for the foreseeable future. As such, an overview of the most common types of wagers is in order:

Moneylines, run lines and puck lines

Although bets based on point spreads may be more of a “mainstream” wager, moneylines (in football and basketball), run lines (baseball) and puck lines (hockey) are likely much more straightforward for a novice better to grasp and one of the most popular super bowl bets.

A wager of this type is simply a good, old-fashioned bet on which team will prevail in a sporting event. Typically, when one places a moneyline wager on the team favored to win the game, it will “cost” the bettor more than when placing another type of wager.

Favorites have a three-digit number with a “minus” sign preceding it in moneyline bets. This number quantifies how much the bettor would have to wager on that team in a moneyline bet in order to win $100. The minus sign is indicative of the fact that when placing money on a favorite in a moneyline bet, the bettor will to wager an amount greater than the one that he/she will potentially win.

Conversely, underdogs have a three-digit number with a “plus’ sign preceding it in moneyline bets. This number quantifies how much the bettor will win if they wager $100 on that team in a moneyline bet. The plus sign is indicative of the fact that when placing money on an underdog in a moneyline bet, the bettor will potentially win an amount greater than the one he/she puts in.

Incidentally, $100 is the figure because it is a round figure that helps to better illustrate how a moneyline wager works. Moneyline wagers are actually accepted in all types of amounts.

To more specifically illustrate how a moneyline wager would work, let’s utilize an NFL example.

In a Cowboys-Giants game where Dallas is listed as the favorite, the moneyline might be listed as such:

• Cowboys -150: This means that a bettor who wishes to wager on the Cowboys to win the game outright will have to bet $150 to win $100. Therefore, if the Cowboys win the game, the bettor receives his/her original $150 back, plus $100, for a total of $250.
• Giants +180: This means that a bettor who wishes to wager on the Giants to win the game outright will win $180 if he/she wagers $100. Therefore, if the Giants win the game, the bettor receives his/her original $100 back, plus $180, for a total of $280.

Point spreads

Point spreads are one of the most popular forms of sports wagers, and they might be the most commonly known to a sports betting novice. The point spread is essentially defined as a projected margin of victory or defeat for the two teams in a given matchup.

• For example, if the Cowboys and Giants are squaring off and the point spread is Cowboys -3, that means Dallas is expected to win by at least three points. Those betting the Cowboys and “giving up” those points are banking on Dallas to outscore the Giants by at least that much in that game.
• Conversely, those who bet the opposite sides – the Giants +3 – are banking that even if the Giants lose, it will be by less than three points.
• If the Cowboys win the game but only do so by exactly three points, then the line is considered a “push”. Bettors who wagered either side of the game get their bets refunded.

Payouts on point spread bets depend on the odds assigned to either side of the wager. A favorite may nevertheless have better payout odds than an underdog, depending on the size of the spread. To utilize another NFL example, say the Rams are listed as 14-point (-14) favorites over the 49ers. Despite the fact Los Angeles is clearly expected to win the game, the odds of a two-touchdown or greater win in football are worse than one by a lesser margin.

Therefore, your payout if you bet the Rams to win by 14 or greater might be -105 (must bet $105 to win $100). Alternatively, your payout if you take the 49ers to cover – i.e. lose by less than 14 points – might be slightly worse at -115 (must bet $115 to win $100)

Point spreads are set by oddsmakers with the idea of getting wagers to come in on both teams as evenly as possible. Sportsbooks naturally want to avoid being “overexposed” to one side of a wager as much as possible. This helps prevent some potentially sizable losses for the casinos.

Totals (over/unders)

Totals, or “over/under” bets, are another fairly simple concept to grasp, even for the inexperienced bettor. In a totals wager, the bettor is simply putting money down on whether or not the cumulative point/run total of the two teams in a game will be more or less than the total set by the sportsbook.

Totals bets are usually set with odds of -110, meaning the bettor must wager $110 to make $100 (utilizing the “100” figure as the example once again).

A totals bet for a Yankees-Red Sox game might be listed as follows:

• 9.0 runs (-110): The sportsbook has set the projected total number of runs to be scored between the two teams at nine. Bettors who wager that the two teams combined will score either more or less than that total will need to wager $110 to win $100.

As with the point spread example provided above, there is also the possibility of a “push” when it comes totals bets. In our Yankees-Red Sox example, this would occur if the cumulative run total is exactly nine. Bettors would receive refunds on their original bets in such an instance.

Parlays

Parlay bets are wagers that involve at least two games. There are various forms of parlay bets based on the different bet types already discussed above. In other words, bettors can place point spread parlay wagers, moneyline parlay wagers and totals parlay wagers.

For a parlay to lead to a payout, there cannot be a losing bet within it. “Pushes” won’t disqualify a parlay wager from cashing, however. Parlays also survive eventualities such as a rainout in baseball or a game that ends in a tie. However, the payout in those cases is calculated factoring out that game, meaning that it will be less than if all of the “legs” of the parlay would have been valid.

Odds for a parlay vary from sportsbook to sportsbook. Once a parlay bet is placed, however, the odds and lines are locked in. That’s the case irrespective of any other changes the point spread, projected totals or moneyline involving any of the teams within the parlay undergo after the parlay wager has been made.

The more teams wagered on in a parlay, the better the payout. As with all other wagers, the more difficult the bet appears to be, the larger the reward if it hits.

Teasers

Teaser bets are a form of parlay wager that excludes moneyline bets. In a teaser, the bettor can manipulate a point spread or total within a certain predetermined range in order to improve their odds of winning the bet. Naturally, a teaser will pay out less than a conventional parlay because of the greater probability of the bettor coming out on the winning side.

The one requisite with a teaser bet is that the movement of the line or total must be applied to each team in that parlay. However, it can be applied in different “directions”.

An example of an NBA teaser on a two-team parlay that incorporates the above would be the following:

• In a Heat-Nets matchup where Miami is favored by 3.5 points, the bettor moves the line an additional four points up to 7.5 points and bets on the underdog Nets to lose by less than that amount.
• In a Warriors-Pelicans game where Golden State is favored by 7.5 points, the bettor likewise moves the line four points, except in the other direction. Therefore, the Warriors’ projected advantage goes down to 3.5 points and the bettor then places a wager on the Warriors to cover that spread.

Futures bets

A futures bet is any bet made for an event which has an outcome that will occur in the future. Most future bets involve odds for a team to win a championship or division, but there are other futures wagers available for various sports. In golf, for example, a bettor can wager on a golfer finishing in the Top 10, Top 20, or Top 30 of a future tournament.

Futures odds are set by an oddsmaker based on the potential outcomes.

One of the most frequent questions from sports bettors is this: Where can I find the best odds?

There’s no set answer for each event on the docket, but you can quickly zero in on the top numbers by shopping around.

Our customizable live odds feed does the heavy lifting for you by displaying the real time numbers from leading operators across the industry. You can see how it works down below, and be sure to check back often for the latest sports betting odds.

Compare the latest odds: Moneyline, spread and totals

Understanding how sports betting odds work

When you’re new to sports betting, the odds board can seem a little confusing. There are tons of numbers to digest, and it can sometimes look like there’s no rhyme or reason attached. We’re here to tell you that there absolutely is a method to the madness.

Sports betting odds are one of the most valuable pieces of intel that you can digest as you get set to handicap games and events. Beyond telling you which side is favored and which one is the underdog, there’s a whole lot more to see here.

In this guide to sports betting odds in Michigan, we’ll walk you through all of the ins and outs. We’ll explain why the numbers move, how you can figure out payouts and implied probability from the odds, and much more. Let’s begin by looking at the top spots for odds here in MI.

When are sports betting odds released?

Once sportsbooks have sorted through all of the data and factors that can impact an event, they’ll release the betting odds to the public. The actual timeframe for when they come out will vary by sport, but here’s a ballpark guide to use for reference.

• Football: NFL and College Football odds will come out well in advance of the next set of games. You may see some odds come in as the current slate is winding down, while virtually all numbers will be out no later than the day after the week’s games are wrapped up.
• Baseball, Basketball, Hockey, and Soccer: For sports in which teams play more than once per week – MLB, NBA, NCAAB, NHL, MLS – odds and lines will be out either the night before a contest or no later than the day of.
• Golf, Tennis, UFC, and Nascar: Odds for outright winners in the individual sports will come out well in advance of the next event. As the event draws near, you’ll see additional odds offered for other bet types.
• Futures: Odds for these markets are released in the offseason, sometimes as soon as the current campaign is wrapping up. Additional futures odds for the various sports will be released as the year moves along.

If there’s a delay in the release of odds for an upcoming game, then the sportsbook is most likely waiting on a key piece of information. Generally, it would be something that could have a direct impact on the lines such as an injury to a key player.

How do you read a sports betting line?

You can find the latest odds for all of the upcoming games using sportsbook apps in Michigan. The overall appearance may vary, but the average listing for a game will look something like this.

Next to the two team names are the odds for three of the biggest bet types: point spread, moneyline, and total. In this matchup, the Vikings are favored by four points over the Lions. Minnesota is also favored on the moneyline in a game with a projected total of 53 points.

When you look at the point spread line, the side with the negative number is the favorite. The positive number points to the underdog, while the numbers in parentheses are the actual odds you’ll get when you place the bet.

On the moneyline, it’s also negative for favorites and positive for dogs. The totals bet — also known as an over/under — will have a benchmark number and odds to choose from on both sides of the equation.

Why do sports betting odds change?

Once the odds are released, there’s a good chance you’ll start seeing some movement in the numbers. This will continue right up until game time. Basically, online sportsbooks will adjust the numbers in response to the betting action that has come in.

For example, if a lot of the early money comes in on one side, Michigan sportsooks will likely respond by making that side less appealing while bumping up the attractiveness on the other side. If that doesn’t lead to the desired result, the book may tweak the numbers again.

The ultimate goal is to find the right mix that attracts near equal action on both sides. This isn’t always possible, so there will be games in which the operator winds up lopsided on one side. When this happens, they could take a big hit if the public money happens to be right.

When researching games that you want to bet on, it’s important to take the time to shop around and see what the odds are in different spots. You may find more appealing numbers elsewhere, but you’ll never know if you don’t take the time to look.

Sports betting odds by bet type

We’ve covered how the odds work for the three main bet types on team-based sports, but there’s a whole lot more to the betting menu. Here’s a quick look at how the odds work for some of the other more popular ways to bet on sports.

Futures odds

These are wagers you can place on outcomes that won’t be known until down the road, such as the winner of the Super Bowl or an over/Under on the Detroit Tigers regular season win totals.

When there’s a range of choices involved, the odds will be presented in descending order in list form. If it’s a bet with just two choices to consider, then the odds will look like what you see in a standard moneyline bet.

Prop betting odds

Props are additional betting opportunities that you’ll be able to explore for each game and event. They’re basically like side wagers on things that might happen, and many of them will revolve around individual performances.

For props with two choices, the odds will look like what you’ll find in moneyline bets. Props that have several choices attached will resemble a futures market bet with the selections listed in descending order with the favorites on top.

Live betting odds

You’ll be able to bet live as the action unfolds in real time. This is a very fast-moving market. Odds and offerings can change in an instant, but mobile apps from leading sportsbooks are up to the task.

There are bet types that might look like a standard game listing, some that will resemble two-sided props, and others with several choices. In short, the odds will look similar to what you’ll see elsewhere, but they’ll naturally vary by bet type.

How sports betting odds work for different sports

As you gain more experience with betting odds and have additional exposure to them, it’ll all start to become awfully familiar. In a bid to help shorten the curve even further for you, let’s take a look at some examples using several of the major sports.

Odds on the NFL

From the first game of the regular season straight through to the Super Bowl, every NFL game on the docket will attract plenty of betting action. Each bet type receives its fair share of attention, but the point spread generates a great deal of the buzz at NFL betting sites.

• Green Bay Packers -4.5 (-115)
• San Francisco 49ers +4.5 (-105)

For this matchup, the Packers are favored by 4.5 points at odds of -115, while the 49ers side can take the points at odds of -105. Point spread odds start at a base of -110 at most operators, so we can take this as a sign that most money has been heading to the Green Bay side.

Odds on NBA

From spreads to props and live betting, there are plenty of different ways to get in the game when betting on the NBA. One of the most popular wager types that brings plenty of bettors to the window is Over/Under bets.

• Over 5 (-110)
• Under 5 (-110)

The oddsmakers have set the bar at 209.5. If you choose the Over, then 210 points or more need to be scored for a winning bet, while Under bettors want to see 209 points or less. For example, 110-100 works for the Over, but it adds up to a miss on the Under.

Odds on MLB

The lengthy MLB season translates into lots of different betting opportunities to consider each day. Live betting is a great way to remain engaged as the action plays out, while the moneyline is a big needle mover for each contest. Here’s an example of MLB odds in action.

• Detroit Tigers +140
• Chicago Cubs -120

For this fictitious game, the Cubs are favored over the Tigers, which we can tell by the direction of the odds. On the moneyline, keep an eye on the span between the odds for clues on how close Michigan sportsbooks perceive the matchup to be.

Odds on NHL

All of the standard main bet types are available for NHL games, but the spread is handled differently here. Known as a goal line, it’s typically set at the same number of 1.5 for each and every game on the docket. Here’s what that looks like when looking at NHL odds.

• Detroit Red Wings +1.5 (-112)
• Chicago Blackhawks -1.5 (-108)

If you bet on the Blackhawks, they’ll need to win by two goals or more for a winning bet. Betting on the Red Wings side means the game needs to keep it closer than that or to win the game outright. At some operators, you’ll also find alternative goal lines such as 0.5 or 2.5.

NFL Las Vegas Odds - Live Pro Football Betting Lines

How betting lines work on other sports

No matter what you plan to bet on with sports, there will be odds attached. For golf, you’ll see odds on the winner of the event and various head-to-head matchups posted by oddsmakers. It’s a similar story with tennis, and there will be plenty of other bet types for both sports too.

The most popular UFC and boxing bets revolve around which side will win, and there will naturally be odds on both sides. NASCAR odds can be found on the winners of the races and various props, among other things.

When it comes to niche sports – think cricket, rugby, table tennis, etc. – sportsbooks will have lines up on all the events they feature. In short, if you’re placing a bet at a legal and regulated sportsbook, there will be odds attached.

How to calculate sports betting odds payouts

Sports betting odds tell you much more than which side is favored and which one is the underdog. They also reveal how much of a return you can expect to see on winning wagers. There are a few different ways to figure it out. Let’s start with the easy ones.

First up, once you add your bet to the slip and add in your wager amount, sportsbooks will display the potential payout. There are also online handicapping calculators to be found online where you can plug in bet amounts and odds to see the return.

Next, there’s a simple trick to figure returns based on which way the odds are pointing. If odds are positive — such as +150 — that also equals the amount you would get back for a winning $100 wager, which in this case would be $150.

When the odds are negative — such as -120 — it’s telling you how much you would have to bet to get back $100. For this example, you would have to bet $120 for the chance to see a return of $100.

Lastly, there are formulas to follow which help you figure out the return based on the odds and wager type. The calculation is different depending on the way the odds are going.

• Positive odds: Bet Amount*(Odds/100) = Potential profit
• Negative odds: Bet Amount/(Odds/100) = Potential profit

While there are easier ways to find potential returns on your bets, it’s still a good idea to understand how the math works. After a little bit of seasoning, it’ll help you to quickly spot value opportunities on the board just by seeing what the odds say.

How to calculate implied probability from sports betting odds

The odds can also serve as an indicator of what’s more likely to happen. In its simplest form, the favorite is more likely to win over the underdog, at least in the eyes of the oddsmaker that has set the lines.

However, you can go much deeper than that and assign an actual potential winning percentage to each side. Known as implied probability, there are formulas to follow based on the direction of the odds. Let’s run through an example while using the moneyline for an NBA game.

• Detroit Pistons +135
• Chicago Bulls -115

For this game, the Bulls are slight favorites over the Pistons. How likely is it that either side will win? We’ll begin with the favored side and use the following formula.

Odds/(Odds+100) * 100

It’s the odds divided by the sum of the odds plus 100, the result of which is then multiplied by $100. Here’s the formula in action.

• 115/(115+100) * 100
• 115/(215) *100
• 534 * 100 = 53.4%

As you can see, figuring out the implied probability suddenly reveals that the favored side isn’t such a sure thing. Over on the underdog side, the formula is set up differently.

100/(Odds+100) * 100

In this case, we always begin with 100. We then divide that by the sum of the odds plus 100 and multiply the result by 100 to find the probability. Here’s how it works at these odds.

• 100/(135+100) * 100
• 100/(235) * 100
• 426 * 100 = 42.6%

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Implied probability is yet another tool that helps to put in perspective the actual strength of favorites and underdogs. As mentioned earlier, there’s a whole lot to glean from the odds board as you continue to gain experience with the numbers and how they work.

How do Michigan sports betting odds compare to Las Vegas odds?

Las Vegas had legal sports betting in the US on lockdown for decades. As such, Sin City served as the first and last word on sports betting odds. There are very talented oddsmakers out in the desert, so you can rest assured that Vegas sports betting odds are always on point.

Live Sports Betting Odds For Today

That’s still the case, but the overall story is different. Now that sports betting has been legalized in a growing number of states, including right here in Michigan, you’ll be able to find great numbers much closer to home.

Brazil Serie A Betting Odds & Lines | Live Odds SBRodds.com

For example, sportsbooks like DraftKings and FanDuel in Michigan will be right in range with what you would find at Westgate or Circa out in Vegas. You can still see what the talented folks out west have to say, just know that the numbers here at home will do just fine.

Live Sports Betting Odds Calculator

What to remember about sports betting odds

For each listed game and event at online and mobile sportsbooks, there will be odds attached. The numbers are set by the in-house oddsmaking team which leans on a wealth of data and the assistance of computers and algorithms to set fair numbers.

After the lines are released, bettors start weighing in. Sportsbooks may adjust the numbers in response in a bid to level out the action, so the initial odds and those you see at the beginning of the contest can often be different.

In today’s legal and regulated environment, bettors can easily shop around to find the best prices on the games they want to bet on. There’s lots of information to be found by digging into the numbers, including potential returns and the implied probability of outcomes.

Sports betting odds can take some getting used to for those new to the game, but practice and experience will help to cut down the learning curve. After a little bit of seasoning, you’ll be able to find information such as which side the public is favoring just by glancing at the odds.