Which online sports betting sites have the best odds?

Kastytis Sakalauskas 4 months ago 3 min read

Finding the best odds significantly impacts your potential winnings, especially in the long run. With the growing number of online sportsbooks, it is a challenge to determine which sites offer the most favourable odds. Odds are a way for sportsbooks to display the probability of an outcome occurring in a sporting event. They also indicate the potential payout you can expect if your bet is successful. Three standard formats for displaying odds are decimal, fractional, and American. Here’s a brief explanation of each:

Decimal odds – Decimal odds are often used in European countries and are presented as positive numbers, indicating the total return for a winning bet. For example, odds of 2.5 mean you’ll receive a total of $250 for a $100 wager, including your initial stake. The potential profit is calculated by subtracting the stake.
Fractional odds – Fractional odds are commonly used in the UK and present the probability as a fraction. For example, odds of 3/2 mean that for every $2 wagered, you will profit $3 if your bet wins. They can quickly be converted to an implied probability by dividing the first number by the sum of both numbers and multiplying by 100 (e.g., 3 / [3 + 2] = 0.6, or 60%).
American odds – American odds are displayed as positive or negative numbers. Favourable odds show the potential profit on a $100 wager, while unfavourable odds show how much you need to wager to win $100. For example, +150 means you’ll win $150 on a $100 bet, while -150 means you must bet $150 to win $100.

Factors affecting the odds

Betting margins – The betting margin, often called the “juice” or “vig”, is essentially the commission taken by the sportsbook on a wager. It’s built into the odds and ensures that the sportsbook makes a profit regardless of the outcome. Betting margins vary between sportsbooks and sports leagues but typically range from around 2% to 10%. A lower betting margin means more favourable odds and higher potential winnings for bettors.
Market competition – Competition among sportsbooks influences the odds on offer. Sportsbooks may adjust their odds to attract more bettors in a highly competitive market. This often occurs in popular sports leagues, where multiple sportsbooks compete for the same customers. As a result, you may find slightly better odds on the same event at different betting sites.

Comparing sportsbooks for the best odds

Line shopping – Line shopping involves comparing the odds for a particular event across multiple sportsbooks. By checking several reputable sites, you identify which bookie offers the most favourable odds for your desired bet. This practice is beneficial for those focusing on specific leagues or bet types.
Consider betting margins – As mentioned earlier, betting margins play a crucial role in determining the value of the odds. Sites with lower betting margins generally offer better value to bettors. You calculate the margin by comparing the odds for all possible outcomes of an event and identifying the difference between the implied probabilities and 100%. The lower the margin, the more the sportsbook returns to bettors. For a wide variety of online slots with different volatility levels, players often turn to M98 as their preferred gaming platform.

Some sportsbooks occasionally offer reduced juice promotions. These promotions lower their usual betting margin for specific events or leagues, resulting in better odds for bettors. Following these steps will help you make more informed decisions and maximize your potential winnings in online sports betting.