If you want to familiarize yourself with sportsbooks now that they are live and accepting bets, you’ll first need to understand how to read the lines. Failure to do this means you’ll have trouble beating the odds. So, read with us as we get into the basics.
- Best sportsbooks with betting odds in Massachusetts
- How Massachusetts betting odds work
- How to read odds and lines in Massachusetts
- How to calculate sports betting payouts in Massachusetts
- What is the difference between decimal odds and fractional odds?
- Types of betting odds in Massachusetts
- Which are the best sportsbooks for betting odds in Massachusetts?
- Get the leading odds for Massachusetts players
- Massachusetts betting odds FAQs
Best sportsbooks with betting odds in Massachusetts
Massachusetts betting odds: All sites are 100% legal & licensed by the MGC.
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How Massachusetts betting odds work
Odds represent what bookmakers believe is the likelihood of an event or events happening in a match. Thus, the odds tell a lot about the direction of the winds blowing around a match event. The Massachusetts sportsbooks begin with a mathematical algorithm to calculate sports betting odds, giving them a jumping-off point.
After that, they adjust the lines to align with the critical factors surrounding the event. These include head-to-head matchups, home-field advantage, and injuries. So, the betting odds will shift to favor money from one side of the bet regardless of the bookie you’ll select. And with Massachusetts sports betting sites that features live betting, the odds shift even during the game.
How to read odds and lines in Massachusetts
Across the United States, odds are listed with the American default system called American Odds. And a correct reading of the odds means you’ll understand what the oddsmakers have determined as relative chances of a specific prediction occurring. Besides, you can determine how much you stand to win by wagering on such outcomes.
Note that the betting odds you’ll see on bookies differ from the actual probability of such results happening. Why? Betting operators can intentionally shift from real odds because of many reasons. For instance, when one side of the bet gets more action than the other operators will deliberately change the betting odds to favor the other side that’s receiving fewer wagers. This way, they get a money cut no matter which side of the bet wins.
How to calculate sports betting payouts in Massachusetts
Anytime you think of the betting odds to bet on in MA, you should also note what you’ll walk home with if you win the bet. And this is a straightforward assignment because the betting line will tell you both the relative chance of winning your bet and the potential winnings.
Most operators countrywide use the format below to display their betting odds.
Betting odds with a negative sign before them means they are the ones the bookies think will likely happen. So, picking them means betting on favorites to win over the underdogs. According to the bookmaker, the higher the betting odds, the more likely the outcome will occur.
Assume DraftKings sportsbook Massachusetts offers a -134 moneyline bet for the Patriots in a match between them and the Cardinals. This means they are the favorites and have a 57% chance of winning the match. You could also see -405 odds for the Patriots in their home game against the Bears. Again, these are steep odds and the Pats have around an 80% chance of winning the game.
How do you calculate your winnings with such odds? The higher the odds, the bigger the payoff. Negative betting odds denote the amount you’d have to bet with to win $100 if you think in terms of $100. In the Pats vs Bears match, you’d have to wager $405 to win an extra $100 on top to make the total payout $505. Remember, you’d get this if the favorites (Pats) won. For the Pats vs Cardinals, you’d need to wager $134 to win $234. But that’s also the amount you’d lose if the bet didn’t go in your favor.
These are odds denoted by a positive sign before them and refer to the less likely results. When looking at moneyline bets, the odds with the positive sign before them imply the underdogs. Unlike the negative odds, the higher the positive number, the less likely the oddsmakers think the outcome will happen.
Assume the Bruins have moneyline odds of +150. Here, the oddsmakers give them a 40% chance of winning the match. However, winnings on the underdogs could be more generous. The number after the positive sign refers to what you’ll win if you place a $100 bet and the underdogs win the match. So, a $100 wager on the Bruins with their odds at +150 will pay out a total of $250 if they win. That’s a $100 stake plus $150 in winnings.
What is the difference between decimal odds and fractional odds?
Besides the common American Odds format, you may hear talks on decimal and fractional odds, mainly if you want to place bets outside North America. The American Odds format is rare in other parts of the world. But that’s not to say that these other bet formats give less or more info than the American Odds. It’s just a matter of preference.
Whenever you see odds set in decimal or fractional format, there are math problems you can solve to convert them to American Odds. You can also use a betting odds calculator, making the process easier. Luckily, most betting sites and apps in Massachusetts allow players to use any betting odds system they want.
How do fractional odds work in Massachusetts?
You’ll often see odds expressed as fractions, significantly when handicapping horse races just like you’d see in your old match textbooks. This system is popular in Ireland and the UK and takes a bit of a match to determine the implied potential payday and probability. Despite such less popularity in the U.S., top bookies like FanDuel Massachusetts offer fractional odds for anyone looking at different odds formats.
Going by the winning chances, if you see a team, say the Celtics with 4/3 (four to three) to win in a match between them and the Lakers, then the oddsmakers think if the two play against each other 7 times, the Celtics would win 3 and lose 4. So, dividing the denominator (3) by the sum of the numerator (4) and the denominator (3+4) then you get the implied odds.
- That is 3 ÷ 7 = 0.42857
- Multiplied by 100%, then you get a probability of 42.86%.
- When you stake $100 on the Celtics with odds 4/3, the potential winner is determined by multiplying your stake by the numerator, then dividing it by the denominator.
- The bet’s winnings are $100 x 4 ÷ 3 = $133.
- The total payout will bet $133 + $100 (stake) = $233
This sounds pretty forward for those who’ve learned handicaps but for most other players; there’ll be a constant need for a calculator.
How do decimal odds work in MA?
Popular outside Ireland, the UK, and North America, decimal odds are easy to decipher, especially when compared to fractional odds. The number you see here represents your return per dollar bet. So, when you see the Red Sox’s moneyline bet listed at 1.69, a bet win will reward you $1.69 for every wagered dollar. That’s a dollar back plus sixty-nine cents.
To get the implied probability, you need to divide 100 by the decimal odds listed.
100 ÷ 1.69 = 59.17%
Types of betting odds in Massachusetts
Bookies will always offer you many betting options across all games in and out of the state. And the first tip is to understand what each bet type means and how to wager on it. Below are the basic bet types you’ll find in various sportsbooks like DraftKings MA.
This is simply a prediction of the match winner. It is the most straightforward bet type, which is the best option for novice players. For instance, a moneyline bet on the Sox in a match between them and the Yankees will pay out only if the Sox wins. There’s no other requirement.
This is a bet on the margin of victory, i.e, the number of points separating the winner and the loser. It’s common with high-scoring sports like football and basketball. Using an example of Celtics vs the Hornets, the bookmaker may give the Celtics a spread wager of -8.5. If you bet on it, you’ll win only if the Celtics win the match with a score difference of 9 and above.
As the name suggests, this is a wager on the total number of scores or points the two teams will score in combination. The bookmaker sets a number; you only need to select whether the scores will go past or below the number. For example, assume a total bet of 43.5 in a match between the Bills and the Pats. If you choose Over 43.5, your bet will win if the scores of the two teams combined are 44 or more regardless of who wins.
This is where a player chooses more than one single bet and combines them into one big wager. Single bets (legs) depend on one another, and you only receive a payout when all the single bets win. Notably, the potential wins increase with any extra pick you make, and you can choose various bet types in different sports while building your parlay wager in MA.
Live in-game betting
With the top bookies like Caesars and BetMGM MA, among others, players can place bets as things unfold in real time. Sports betting lines shift during the play, and the trick is identifying the trends and placing bets before the lines move.
As the name implies, the future bet is a wager on things that will take longer to settle and involves many games or stages. This includes wagers on an athlete or team to win a championship or league before the event even starts. For instance, rooting for New England Revolution to win the MLS cup before the season kicks off is an example of a futures bet.
This is a short form for proposition bets, which are wagers on anything not tied to the result of a sporting event. These can be things surrounding individual players (bookings, scores, and others), teams, or other outcomes (will the match go into overtime, e.t.c.).
Which are the best sportsbooks for betting odds in Massachusetts?
Massachusetts players get an exciting sports betting experience, thanks to leading operators like DraftKings BetMGM, Caesars, and FanDuel. These bookies offer the most competitive betting odds, attractive sportsbook promos, quality betting apps, various betting markets, and top-notch customer support experience, among others. So, you can enjoy remarkable and efficient online betting wherever you are within the state’s boundaries.
DraftKings is the best option
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Besides, partnerships between some of these bookies with the local teams like BetMGM and DraftKings partnership with the Red Sox, and FanDuel with Boston Bruins means they are gaining attraction among many players.
However, some players like to enjoy betting on sports at brick-and-mortar locations, and here are some retail sportsbooks you can visit.
Get the leading odds for Massachusetts players
To this point, you should have no problem reading the betting lines. However, take your time to visit this site and get in-depth details of bet types of your interests, especially if you are new to this pastime. Note that you should stick to moneylines until you have hands-on what’s inside the bookies.
Besides, you can even tweak your odds structure if you don’t like the American Odds. But most bookies will allow you to choose between fractional and decimal displays.
Massachusetts betting odds FAQs
Massachusetts bookmakers use the American Odds system that shows the likelihood of an outcome in a match alongside the potential wins if such bets win. The negative numbers have greater chances of winning and paying less while the positive numbers have fewer chances of winning and paying better
It depends on your betting preferences. Popular betting sports are those whose odds are close to each other from one operator to another. But you can do your own comparison ‘line shopping’ to find out which options are more advantageous.
Each bookie’s oddsmakers set betting odds in MA. They start with mathematical algorithms and note other factors that affect the game like team momentum and home advantage.
Yes, betting lines do change because there are several variables that impact the match from the time the odds are first set to the final whistle. So, you’ll always see a lot of line movement before the game begins and even more as the game continues.
Absolutely. Retail bookies are just the brick-and-mortar versions of online sportsbooks. And even so, retail sportsbooks are served by the same bookmakers as online ones. So, the betting odds in a particular retail bookie will always be the same as those of the partnering online sportsbook.