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• Betting odds tell you how likely an event is to happen
• They also tell you how much money you will win
• However, at first, they may seem confusing and complex
• Our comprehensive guide takes you step-by-step to explain them

Odds are the foundation of any betting. Understanding odds is absolutely essential to becoming an expert bettor. Plus, getting a good handle on how odds work makes the whole thing that much more fun! Online & Vegas sports betting odds & lines, betting news & picks for 2021. Covers the most trusted source of sports betting information since 1995. A minus symbol in betting odds tells you that you need to wager that much in order to win a $100 profit. A $100 bet at -110 would earn you a $91, while a $10 bet at -110 would earn you $9.10. The key to betting on sports is to use the strategies below to gain an edge. Our betting experts recommend these strategies because you can use them no matter if you’re a novice bettor or a pro wagerist. You can’t win every wager you place, but if you follow our betting advice you’ll at least be able to get that coveted betting edge. A betting odd opportunity should be considered valuable if the probability assessed for an outcome is higher than the implied probability estimated by the bookmaker. Read more on the math behind.

If you’re new to betting, one of the first things you should do is learn how betting odds work. It’s critically important because it allows you to understand how likely an event is to happen, and what your potential winnings will be. At first, it may appear confusing, however, read our guide and let us explain it to you.

In gambling, odds represent the ratio between the amounts staked by parties to a wager or bet. Thus, odds of 3 to 1 mean the first party (the bookmaker) stakes three times the amount staked by the second party (the bettor).

What is Probability?

The most basic level, betting provides you with the ability to predict the outcome of a certain event, and if your prediction is correct, you will win money. For any given event, there are a certain number of outcomes. Take rolling a dice for instance. If someone rolls a dice, there are six possible outcomes. Therefore, if you bet that the person rolls a ‘one’, there is a 16.67% chance that will happen. What betting odds merely do is present how likely the event is to happen. Bookies most frequently in the UK do this as a fraction, i.e. 4/7, whilst the vast majority also offer the ability to view them as decimals. Again, let us talk you through them. All will become clear.

Using Betting Odds to Calculate Probability

Whenever you see two numbers separated by a trailing slash, i.e. 10/1, this is known as fractional odds. From this, you can calculate how likely a given event is to happen with a calculation. For ease of explanation, let’s replace the numbers with letters i.e. 4/1 becomes A/B. Here is the calculation: Probability (%) = B / (A+B).

• 9/1 can be calculated as 1 / (9 + 1) = 0.10– There is a 10% chance that the event will happen.
• 4/1 can be calculated as 1 / (4 + 1) = 0.20 – There is a 20% chance that the event will happen.
• 1/1 can be calculated as 1 / (1 + 1) = 0.50 – There is a 50% chance that the event will happen.
• 1/4 can be calculated as 4 / (4 + 1) = 0.80 – There is a 80% chance that the event will happen.

Hooray! We’re making progress. Given a fraction, we can now tell how likely (the probability) what we’re going to bet on will happen. Now let’s figure out how much money can be won using betting odds.

Using Betting Odds to Calculate Winnings

Betting odds allow you to calculate how much money you will win if you make a bet. Let’s use the same examples as before, with the same replacement of numbers for letters, i.e. 4/1 becomes A/B. Quite simply, for every value of B that you bet, you will win A, plus the return of your stake.

• 9/1 for every £1 you bet, you will win £9.
• 4/1 for every £1 you bet, you will win £4.
• 1/1 for every £1 you bet, you will win £1.
• 1/4 for every £4 you bet, you will win £1.

What About Decimals?

Decimals are far more common on exchanges, such as Betfair, but all leading betting sites do give you the option to view betting odds in this format. They are an alternative to seeing betting odds in the fraction format, and in our opinion, are easier to work out. Here is the calculation: winnings = (odds * stake) – stake. Let’s illustrate it with some examples

• 9.0 can be calculated as (9.0 * £10 stake) – £10 stake = £80 winnings.
• 4.0 can be calculated as (4.0 * £10 stake) – £10 stake = £30 winnings.
• 2.5 can be calculated as (2.5 * £10 stake) – £10 stake = £15 winnings.
• 1.25 can be calculated as (1.25 * £10 stake) – £10 stake =£2.50 winnings.

You can use our bet calculator to help you calculate winnings.
USE BET CALCULATOR

Decimal Odds Versus Fractional Odds

In truth, one isn’t better than the other but there is certainly a trend emerging towards decimal odds. Historically fractional odds were used in the UK, especially on racetracks and on the high street. There are two key differences. Generally, decimal odds are easier to understand. Based on this, there has a movement to attract more people to horse racing by making it more accessible to the average punter. Ten years ago, if you were going to Cheltenham, all the odds would be displayed as fractional odds. Now, they’re largely all in decimals. Don’t hesitate to check out our exclusive Premier League Betting Offers !

The second difference between the formats is that fractional odds only represent winnings, and do not include the returned stake compared to decimals which do include the stake. The transition from fractional odds to decimals largely kicked off with the growing popularity of the betting exchanges such Betfair. For odds to change slightly, it’s really difficult to marginally increase or decrease the probability without creating large fractions which are hard to compute for the punter.

Use Our Tool to Convert Betting Odds Into Your Favourite Format

Our odds converter toolwill allow you see odds in whatever format you like . Not only that, but it’ll tell you how likely the selection is to win!

In Summary

Betting odds represent the probability of an event to happen and therefore enable you to work out how much money you will win if your bet wins. As an example, with odds of 4/1, for every £1 you bet, you will win £4. There is a 20% chance of this happening, calculated by 1 / (4 + 1) = 0.20.

Next steps

That’s it! Hopefully, that clears up betting odds. You should now have the knowledge to read betting odds, understand how likely it is to happen, and how much you stand to win.

• Found this article useful? We have loads more similar ones in our learning section. Here are some popular ones;
• Our homepage lists all available betting sites for new customers.

Welcome to our daily odds boost resource! This page will provide you, the sports bettor, with everyday insights on the best bets in the legal sports betting market. We’ll highlight a collection of the best odds boosts bets offered by legal sportsbooks in legal states.

Best Online Sportsbook Daily Odds Boost Bets for Today

Here are the best daily odds boost bets and promotions across various legal online sportsbooks:

• Big Game Special
• Chiefs @ Bucs
• NJ/PA/IN/TN/CO/WV/MI

• Boosted from +333
• Chiefs @ Bucs
• PA/NJ/CO

• 2 per week
• Paid in Free Bet
• Available in CO

• Chiefs @ Bucs
• Super Bowl
• NJ/IL/IN/IA/CO

• Boosted From +200
• Super Bowl LV
• NJ/PA/CO/IN/WV/TN

• Boosted From +1100
• Chiefs @ Bucs
• IL/NJ/WV/IN/CO/TN/IA

• Super Bowl Special
• Plus Signup Bonus
• PA/IN/IL/CO/MI

• Free $30
• NCAA Football
• NJ/IN/PA

What is an Odds Boost Bet?

Online sportsbooks are always looking for ways to bring in new customers through exciting promotions like deposit matches, risk-free bets, and odds-boosted bets. An odds boost bet is exactly what it sounds like – online sportsbooks will boost the odds on certain bets to bring the odds further in your favor.

Odds boosts are usually based around big events, and vary on how valuable they are depending on how much they move the line and how likely the bet is to win. This page will help you identify which odds boost are worth it, and which ones to stay away from. Not all odds boosts are created equal as some are no-brainers and some may be too good to be true.

For example, when DraftKings first launched in Pennsylvania, they ran an odds boost promo where they moved the line of the Sixers to score over 76 points from the original line of over 115 points against the Lakers. This bet came with a max wager of $50 but was meant to be a no-brainer to help bring more business to the book.

Not all odds boosts are going to be this generous, but if you know what to look for, you can find some very valuable odds boosts bets across all the legal and regulated online sportsbooks.

How to Find an Odds Boosts With good Value

There is no limit on what bets online sportsbooks will boost and some will be a great value, while some will not be worth a second look. Figuring out which to bet comes down to doing a little research.

Every book will have its own unique odds boosts either each day, week, or just for special events. If you have accounts at multiple online sportsbooks, always be sure to check the odds boosts before placing bets for the day, as a wager you were planning on betting, may be boosted.

After checking out the multiple books, you may find boosted odds for the opposite of what you were planning on betting, the odds on the other side of your bet may now have more value or could lead to an arbitrage opportunity. Arbitrage is when you are able to bet both sides of a particular bet and guarantee profit with both outcomes. For example, if FanDuel boosts the Eagles to beat the Cowboys from -150 to +100, and the Cowboys are +120, you could bet $100 on both sides and either break even or win $20.

How to Spot an Odds Boost With No Value

There are often odds boost bets that seem too good to be true, and sometimes that is, in fact, the case. Always verify that what is being offered actually has better odds than other online sportsbooks, or even those listed on the sportsbook offering the boosted bet. Often, there are bet boosts offered for several days before the actual event date. The lines can move a lot in that time, bringing the odds outside the boosted range.

For example, FOX Bet may boost the odds of the Lakers to win from -130 to +110 a few days before the game is actually played. When it’s later announced that LeBron James and Anthony Davis are not playing, and the odds change from -130 to +150, but the boost has already been set, so you will get better odds by just betting the actual moneyline.

Getting in the habit of checking the odds of a boosted parlay is something that could save you from making some poor bets. There have been many parlays that if you just built the parlay yourself at a different online sportsbook, you could actually get better odds.

Claiming Odds Boosts and other Promotions

When you spot an odds boost or promotion that you want to take advantage of, be sure to read the terms before rushing to place that bet. Some odds boosts and other promotions require that you “opt in” before placing the bet. Its a different process for each online sportsbook, so we will walk you through the process for some of our favorite books that typically require an opt in.

While DraftKings does have an “odds boost” section, many of their promotional offerings require that you opt in. Also, for boosts like the 30% profit boost, you will need to check a box in the betslip when you are ready to use it.

When you find a promotional offering on FanDuel that you want to bet, you click on the banner and you will be taken to a page similar to this. You will need to click the opt in button and once you do so, the page will indicate that you have opted in, and you will be ready to place your bet.

Unibet will automatically add a checkbox to the bet slip when you add an eligible bet to the betslip. When you are ready to use the profit boost, check the box and your new odds will be reflected and you can then place your bet.

Most odds boosts do not require opting in, but be sure to check the terms of that individual promotion so you don’t miss out on the extra value. FanDuel and DraftKings are the online sportsbooks that typically require opting in, but occasionally other books will use a similar process.

What Legal Online Sportsbooks Offer Odds Boosts?

FanDuel

FanDuel offers daily odds boosts but in general, it’s a mixed bag when it comes to value. FanDuel’s odds boosts tend to be parlays for either multiple teams in the same sport or multiple legs on the same game. Parlay bets are often ill-advised as they are almost always a negative EV bet, but if it is a bet you would consider betting anyway, the odds boost will help you earn an extra profit if it hits.

FanDuel does offer some higher value boosts, but typically only boosts bets about 10-15% over the original value. When FanDuel offers limited-time SuperBoosts, they are often worth checking out.

• Top Rated Sportsbook
• User-Friendly
• NJ-MI-PA-IL-IN-IA-WV-CO-TN-VA

DraftKings

DraftKings offers daily odds boosts, usually in the form of a parlay, either single game, such as Ronaldo to score and Juventus to win, or a multigame parlay like the Yankees/Dodgers/Phillies all to win. They do also offer prop bet boosts that you otherwise would not be able to bet, for example, any National League player to hit a grand slam on opening day.

DraftKings offers a lot of boosts, but also usually are not boosted more than 10-15% like their biggest rival, FanDuel. Checking the odds on another site is always a good idea to determine if the boost is worth a bet. DraftKings does occasionally offer very high-value odds boost bets that can net you an easy win.

• $1000 Deposit Match
• Seamless Mobile Betting
• NJ-MI-PA-IN-VA-TN-CO-IA-IL-WV

FOX Bet

This is where it gets interesting when it comes to odds boosts, as FOX Bet offers, by far, the most odds boost bets in the industry. FOX bet refers to their odds boosts as “Bet Boosts” and offers up to 5 bet boosts per game or match and plenty of boosts via its FOX Sports personality-driven promotional schedule.

If you are willing to sift through hundreds of Bet Boosts, you will be able to find some value on FOX Bet. There have been several times where the odds are actually worse in a Bet Boost on FOX Bet than if you just built the parlay yourself, but there were also plenty of opportunities to get a high value bet in on some of your favorite betting markets.

FOX Bet also offers tons of #custombets, which aren’t exactly boosted but offer bets that you usually wouldn’t be able to wager on. FOX Bet sorts these bets into categories from the extreme long shot, with bets topping out around +100,000 all the way down to bets around even money.

• $500 Risk-Free Bet
• No Code Needed
• NJ, PA and CO

BetRivers

BetRivers offers boosted bets under their “BetRivers Specials” tab on the left side of the screen. Usually, a good mix of futures and daily bet boosts ranging from long shots to bets that are around even money. BetRivers boosted bets tend to be similar to DraftKings and FanDuel where they offer the same game and multigame parlays, but do throw in the occasional prop bet that you otherwise wouldn’t be able to bet.

BetRivers Specials can be fun from time to time, but don’t typically offer high-value betting opportunities. As with the other sites on this list, it’s always good to check the odds of a parlay before betting a BetRivers boosted odds bet, but they usually do offer better odds than if you built the parlay yourself.

• Top iGaming Brand
• Valuable Promos
• VA-MI-PA-CO-IL-IA-IN

Unibet

Unibet online sportsbook does offer the occasional odds boost, but they do their boosted odds a little different. Instead of selecting the boosts for you, they find particular betting markets and allow you to select the bet that you want to boost, and allow you to boost it anywhere from 10% all the way up to 50%.

For example, on a week where there is a lot of English Premier League action, you can select any bet on any EPL game and boost it 20% meaning that if the odds for a selected bet is +100, and you choose to boost it, it will now offer +120 odds.

Unibet also offers weekly boosted parlay odds, where you can boost the odds of a 3, 4, or 5 leg parlay at 10%, 20%, or 30% respectively. You get one per week at each level and the offer resets every Sunday night.

• Plus $250 Risk-Free Bet
• Profit Boost Specials
• NJ, PA, and IN

Other Options

• PointsBet: Pointsbet offers daily odds boosts on a few markets per day, and additional parlay boosts, but typically rely on their long list of promotional offerings that can move the spread lines to almost even money. PointsBet often uses their crowd booster promo where the line moves a bit for every 100 bettors that wager on that particular market.
• BetMGM: BetMGM offers daily and weekly odds boosts that range from boosted parlays to single bets that can help push the odds in your favor.

States With Legal Sports Betting

New Jersey

• Retail and online legal
• Online since 2018
• Most online sportsbook options in the country.

New Jersey was the state that led the fight for legal and regulated online sports betting is a hot spot, giving you the most options to place a bet online.

Pennsylvania

• Retail and online legal
• Online since 2019
• Biggest online sportsbook market in the US.

After many delays, Pennsylvania got its legal and regulated online sportsbook market going in June 2019 and quickly took over the top spot for the largest market in the US and continues to grow.

Indiana

• Retail and online legal
• Online since 2019
• BetRivers and DraftKings took the first bets in October 2019

Retail sports betting in Indiana kicked off in September 2019 and quickly moved to the online realm just a few weeks later. Indiana continues to add new online sportsbooks and the potential of having over 40 online books when all is said and done.

West Virginia

• Retail and online legal
• Online since 2019
• DraftKings got the early lead in West Virginia taking the first bet in August 2019

Betting Odds Football

West Virginia’s online sportsbook market may not be the biggest, but is home to some heavy hitters in the online sports betting market including DraftKings, FanDuel, and BetMGM.

Illinois

• Retail and online legal
• Online since 2020
• More than a dozen retail sportsbooks with online licenses

Initially, there was a rule that online bettors would need to register in person, but due to the restrictions set in place during the Covid-19 pandemic, Illinois Governor J.B. Pritzker issued an executive order temporarily suspending that restriction, which led to BetRivers taking the first online bets in June 2020.

Iowa

• Retail and online legal
• Online since 2020
• The first state to launch online and retail the same day

Iowa has the potential for being a huge sports betting market but is being hampered by its in-person registration requirement through January 2021. Some sites allow you to register online, and visit the partner casino just to verify your identity. Once February 2021 rolls around, the Iowa online betting market should get a huge boost.

States Coming Soon

• Michigan
• Tennessee
• Virginia

Daily Odds Boosts FAQs

What is an Odds Boost?

An odds boost is a promotional offering from an online sportsbook that enhances the odds of a particular bet.

Are Odds Boost Bets Good Value?

Some odds boost bets are great value while others you should probably avoid. Doing a little research can help you determine if they are a good bet.

What Legal Online Sportsbooks Offer Boosed Bets?

Almost all online sportsbooks offer their own version of an odds boost. Our top picks for sites with odds boosts are FanDuel, DraftKings, BetRivers, Unibet, and FOX Bet.

What Are Good Betting Odds

What States Have Online Sportsbooks That Offer Odds Boosts?

Best Betting Odds Today

Currently, the states that offer online sports betting odds boosts are New Jersey, Pennsylvania, Colorado, Illinois, Iowa, and West Virginia. Tennessee, Michigan, and Virginia are all coming soon.