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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.

59 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 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.Betting GuidesFutures Betting Explained: Outrights, Win Totals and AwardsOutrights, win totals, awards and player futures explained: how to read the odds, measure and remove the margin, the settlement rules that matter and how to hedge a winning ticket.Betting GuidesWhat Is a Teaser Bet? How Teasers Work and When They PayHow teasers move the spread or total on every leg, the win rate each leg needs at -120, why only points that cross 3 and 7 matter, and the push rules that differ between sportsbooks.

Guides by sport

More SportsBest Odds Guaranteed Explained: How BOG Pays in Horse RacingHow Best Odds Guaranteed works in UK and Irish racing: worked examples against SP, each-way and Rule 4 settlement, the conditions to check, and why an early price with BOG is a free option.More SportsRule 4 Deductions Explained: Table, Examples and Dead HeatsHow Rule 4 deductions work in UK and Irish racing: the full table, SP and ante-post bets, each-way and multiples, non-runner no bet and dead heat rules, with worked returns.More SportsDarts World Championship Betting: Sets, Outrights and SpecialsHow to bet on the PDC World Darts Championship: why the sets format changes the odds, outright and each-way maths, quarter betting, 180s and nine-dart markets, and settlement rules.

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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