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Sports Betting Guides: Odds, Bet Types and Strategy

Independent guides to how betting odds work, what each market pays and how bets are settled, from parlays and Asian handicaps to each-way golf and IPL markets. Worked examples, no tips for sale, no hype.

69 articles
How betting odds workGuides by sport

Odds converter

Decimal
3.50
Fractional
5/2
American
+250
Implied probability
28.6%
Total return
35.00
Profit
25.00

Returns include your stake. A guide only: settlement rules vary by bookmaker.

Start here

How odds workFractional, decimal and American odds, and what each one saysParlays and accasHow parlay and acca payouts multiply, leg by legSpreads and handicapsPoint spreads, European and Asian handicaps, and how they settleMoneyline betsMatch winner odds, favourites, underdogs and drawsEach-way betsWin and place parts, place terms and worked returnsValue bettingFinding prices above the true chance, and checking your edge

Betting calculators

Odds converterConvert any price and see its implied probabilityParlay and accaCombined odds and payout for up to 20 legsLucky 15 and YankeeEvery system bet from Trixie to Goliath, each-way tooEach-wayWin and place returns at any place termsNo-vigRemove the margin and find the fair oddsHedgeLock in a profit or get your stake backRound robinEvery parlay from 3 to 8 picks, with pushesKelly criterionStake size from your edge: full, half or quarterTeaserThe break-even rate each teaser leg needs

Before you place a bet

  1. Check that betting is legal where you live and that you are over the minimum age, which is 18 in most countries and 21 in many US states.
  2. Convert the odds into an implied probability so you know what the price is really saying.
  3. Read how the market is settled: extra time, retirements, dead heats and void legs all change what you get paid.
  4. Decide your budget for the month and a fixed stake per bet before you look at any prices.
  5. Record every bet with the odds you took, so you can judge your results honestly later.

Bet types and strategy

Betting StrategyPositive EV Betting: Expected Value, Fair Prices and VariancePositive EV betting explained with worked maths: the expected value formula for American and decimal odds, fair prices from sharp markets, small edges and variance.Betting GuidesATS Meaning in Betting: Against the Spread, Covers and RecordsWhat ATS means in betting, how a team covers the spread, how ATS and straight-up records differ, why -110 needs 52.38% to break even and why ATS trends mislead.Betting GuidesPatent, Heinz, Canadian and Goliath Bets: Full Cover Bets ExplainedHow Patent, Canadian, Heinz and Goliath bets work: bet counts with and without singles, each-way costs, and worked examples with a loser and a non-runner.

Guides by sport

US SportsMLB Player Props Explained: Strikeouts, Hits, Total Bases and RulesHow MLB player props work: strikeout and outs recorded lines, hits, total bases and home runs, the start and plate appearance rules, park and weather, with worked maths.US SportsNFL Player Props Explained: Yards, Receptions, Kickers and RulesHow NFL player props work: passing, rushing and receiving yards, receptions and kicker markets, what moves the lines, inactive and overtime rules, and the maths.US SportsNHL Player Props Explained: Shots, Points, Saves and SettlementHow NHL player props work: shots on goal, points, goals and goalie saves, how ice time and power play units set the lines, and how overtime, shootouts and scratches settle.

About SportBetTime

SportBetTime explains how sports betting works, market by market and sport by sport. Every guide shows the arithmetic behind its examples, so you can check a payout or a probability yourself rather than take our word for it.

We do not sell tips, we do not promise profits and we do not rank bookmakers on this site today. How we research, check and update articles is set out in our editorial policy. Betting should only ever be paid for with money you can afford to lose; our responsible gambling page lists warning signs and where to get help.

Frequently asked questions

Is SportBetTime a bookmaker?

No. We do not take bets or hold accounts. SportBetTime publishes guides about how betting markets and odds work.

Do you give betting tips?

Not at the moment. Our guides explain markets, settlement rules and pricing so you can make your own decisions. We never describe any bet as guaranteed.

Which odds format do your guides use?

All three. Most examples show decimal odds with fractional and American equivalents, and the guide to how betting odds work explains how to convert between them.

Is sports betting legal where I live?

It depends on your country, and in the US and India on your state. Check the law that applies to you and only use operators licensed where you live. Nothing on this site is legal advice.

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