Having the ability to bet on sports in Texas legally is something new and exciting for the state. As a result, many Texans are hitting the books to place wagers on their favorite sports teams. But, before you get too carried away, think about how much you really know about Texas sports betting odds. If you are unsure, you need to read this article.
Texas Sports betting odds explained
There are three main types of sports betting odds, American style odds, decimal odds, and fractional odds. When wagering on sportsbooks in Texas, you will most frequently see American-style odds being used for most wagers, which is why we will be focusing on those odds the most.
If you are unfamiliar with TX sports betting odds or are looking for a bit of refresher course, you have come to the right place. Let’s take a look at Texas sports betting odds, how to use them to your advantage, and which sportsbooks are the best options to choose from.
Best sportsbooks for Texas sports betting odds
New sportsbooks are popping up frequently now that sports betting is legal all around the US. However, a few have been around for a while and are well known and really liked by sports bettors everywhere.
Here is a list of the top Texas sportsbooks for great sports betting odds, frequent promotions and bonuses, and tons of sports betting options.
Draftkings betting odds
DraftKings sportsbook has a great site that is easy to navigate and provides a fantastic user experience. In addition, they offer more than fair odds and plenty of bonuses and promotions on a daily basis.
You can’t beat the customer service offered through the Fanduel sportsbook site. They provide players with a user-friendly interface and a variety of betting markets every day.
BetMGM offers a safe and secure sports betting website and app. In addition, they provide a variety of banking options for depositing and withdrawing your money and frequent bonuses for new and current customers.
Caesars sportsbook odds
The Caesars sportsbook website and app are easy to use and provide a great experience for their players. In addition, they offer tons of live-bet options and daily bonuses on many different sports.
What are TX sports betting odds?
Sports betting odds is how a sportsbook shows betters the likelihood of each team winning in a game. It is also a way for the bettor to determine how much money they stand to win on each wager.
The majority of TX online sports betting sites tend to base their odds on Las Vegas odds, especially for football bets.
Bookies are the ones who determine the odds in each game, and they make these decisions based on player and team stats, historical performances, expert opinions and advice, and many other factors.
Types of Texas sports betting odds
There are three types of sports betting odds used by countries all around the world. American-style odds are obviously the most popular style in the US. You will also see decimal styles from time to time, although these are most common in Europe. Lastly, there are fractional style wagers, and this was the first type of wager ever used in sports betting.
American style odds
When you are wagering on a sportsbook site, you will notice the bets are always set up with numbers that have plus and negative signs next to them. These signs are how the sports betting sites determine who will be the favorite team, who will be the underdog, and how much money you need to wager to win a specific set amount.
Tip: American style bets are always based on a $100 scale
The plus sign:
[Atlanta Hawks (+175)] The plus sign will always indicate which team or player is considered the underdog in the match-up. The underdog is the side of the bet that is least likely to win. In this example, the hawks are the underdog in their upcoming game.
If you wanted to wager money on this team, you would only have to put down $100, and if they win, you will win $175, plus the return of your bet.
The negative sign:
[Atlanta Thrashers (-155)] A negative sign in front of a number indicates which team is the favorite team. The favorite is the team most likely to win the upcoming game. In this NHL game, the Atlanta Thrashers are the favorite team.
Because the chances of the team winning are higher, the money to put down on the team will be more than you would on the underdog. Here, you would need to wager $155 to win a $100 bet, plus the return of your wager.
With these NFL odds, you can see that Atlanta is the favorite team by the negative sign in front and the Bills are the underdog because of the plus sign in front.
To wager on the Falcons, you must put down $125 to win $100 plus your wager totaling $225, and to wager on the Bills, and you will wager $100 to win $175 plus your bet of $100 totaling $275.
The chances of the Bills winning are lower, so the payout will be more significant if they beat the Falcons.
Decimal style odds
In a decimal-style bet, you simply multiply the amount you want to wager on the decimal associated with the team you are betting on.
You can tell the Hawks are considered the underdogs in the example above because the payout will be higher if they win.
If you want to wager $50 on the Atlanta Hawks, you will win $107.50 if they beat the Heat. This style includes the wager you get back, so technically, you are profiting 57.50 in this game.
If you place $75 on Miami Heat and win, your payout will be $116.25, profiting $41.25.
Fraction style odds
Fraction-style odds were the first form of odds used by bookies for sporting events. This way of writing odds can still be seen today in some of the biggest gambling businesses around.
Although there is a slim chance you will encounter this style on any US sports betting site, it would be beneficial for you to understand how to read them, just in case.
Just like it sounds, fraction-style odds are betting odds written in fraction form. The bottom number is the amount you wager, and the top is the amount you stand to win.
In the UFC match-up above, Donal Cerrone is seen as the underdog. You can tell this because the amount of money you win on every dollar is higher than that on Connor McGregor. Because the odds are in McGregor’s favor, the bookies will pay less to those wagering on him because they are more likely to pay out to those bettors.
In this event, those wagering on Connor McGregor will win $3 for every $1 they bet, and those who are wagering on Donald Cerrone are going to get $7 for every $1 they bet.
Changing odds and lines in Texas
When you are watching your wagers, you may notice that the lines or odds will change at times. This happens when the bookie’s prediction of the outcomes changes.
There is a lot of information and factors used to determine the odds and lines of a sports bet; if any of those factors change, there is a good chance the outcome of the game will change.
Sportsbooks are in the business to make money, not give it away, so they will adjust the lines if they stand to lose any money on the bet.
There are a lot of reasons that can quickly change the lines in any sporting event. Here are a few of the biggest reasons for sports betting sites to change up their bets.
A missing player
Suppose one of the star players is unable to participate in an upcoming game due to injury, illness, disqualification, or any other reason. In that case, the outcome of the game could change drastically. Bookies will definitely adjust their lines accordingly if a big player is pulled from the lineup, usually by comparing their replacements stats with the other team’s key players.
Bookies will purposely find a way to make each side of a bet relatively even, so in the end, the winners are usually being paid by the losers, keeping the books money in their bank. If one side is tipped too far in one direction, the line will be changed to balance it back out.
Oftentimes media reports will have a significant impact on majority opinion, and this can be a big problem for the lines of a sports betting site.
If the forecast before a game changes and bad weather is expected. The lines are certainly going to change for outdoor sporting events. Rain, snow, wind, etc., can all play a huge role in player performance.
Types of wagers for Texas sports betting odds
In order to understand betting odds in each game, you need to understand the different types of wagers associated with the odds. Here are a few of the most popular bets on sportsbook sites.
Moneyline betting is one of the most popular ways to wager on a sporting event. You are simply choosing which team you think is more likely to win. On a money line, you are going to end up wager more for a smaller payout on the favorite team, with better odds of them winning.
Point spread odds
A point spread bet is pretty similar to a MoneyLine, as you are betting on who will win the game. However, the bookie will place a handicap on the favorite team in a point spread, giving each side an even chance of winning.
Parlay betting odds
A parlay bet is when you wager on multiple bets at the same time. The challenging part of a parlay is if you lose on just one game, you lose the entire bet.
In-play or live bets are increasingly popular ways to wager on sporting events while the games are still in action. These types of bets are very profitable but hard to win.
It is important to understand Texas sports betting odds
Having the ability to read sports betting odds and in every style gives you the opportunity to compare bets from sportsbooks all over the world. You can utilize your knowledge to find the offers that will make you the most money in the end.
It is also important to understand betting odds so you can tell whether or not you are being paid fairly at the end of each bet. Understand your wager and how much to put down is crucial in the sports betting world. Most betting sites on the market are reputable and reliable; however, some are not, plus mistakes do happen.
Texas sports betting odds FAQs
Are sports betting legal in Texas?
Yes. Anyone 21 years or older and a legal resident in Texas can legally wager on sports events with proof of both.
What is the difference between American, decimal, and fraction style betting odds?
Although your wager and payout will be exactly the same no matter which style you bet in, American style uses positive and negatives, decimal style uses decimal x’s wager, and fractional betting uses wager on bottom times amount to win on top.
Can Texas sports betting odds and lines change?
Yes. Sports betting lines and odds can change if outside factors interfere with the original prediction of bets’ outcomes. These include players being pulled from a game, weather changes, and one side being heavier than the other.
How do you find promotions for Texas sports betting odds?
You can find updated promotions, bonuses, and deals on every sportsbook site. You can also find these promos on the sportsbook’s social media accounts.
How do bookies calculate Texas sports betting odds?
Bookies will decide on the probability of an event and set odds based on player and team statistics, historical events, and even expert opinion or advice.