How Do Betting Odds Work In Ufc
If there’s a sport that’s getting more popular as time goes by, it’s mixed martial arts (MMA). The Ultimate Fighting Championship (UFC) is, by far, the most popular promotion in MMA, both among sports fans and among bettors. If you belong to the latter category, you might be interested in learning more about Vegas odds in UFC.
That’s exactly what we’re going to deal with in this article.
How To Read The Over/Under Betting Odds In The UFC. Most often, the betting line for the over/under round total essentially boils down to whether or not the fight will go the distance or end early. If it's a five-round fight, you will typically see the betting. How Do Betting Odds Work In UFC? + For American moneyline odds, they are calculated based on how much money you are going to have to bet to win $100. These odds are always paired with either a plus. And at Odds Manager we’ll always bring you the very best UFC betting odds, MMA betting odds, news, and views. Major Fights In 202 1 2021 starts with a bang, as Conor McGregor returns to the ring after. How to Read UFC Odds Most sports odds are presented in the same way. The favorite is represented by the minus sign (-), while the underdog is represented by the plus sign (+). You’ll also notice that odds.
So, what are ‘Vegas’ odds? In a nutshell, those are the odds you will see in Nevada’s land-based sportsbooks, which often differ from those available online.
For Example
Let’s say you go to one of Las Vegas sportsbooks such as Golden Nugget, Wynn, or Caesars, that’s where you’re going to see odds displayed like this:
- Khabib Nurmagomedov (-150)
- Conor McGregor (-110)
- Stipe Miocic (+130)
- Shevchenko vs Maia Over 2.5 Rounds (-110)
You might have come across these sorts of odds, but this doesn’t necessarily mean you know what they mean. The truth is that a large number of bettors have no idea what Vegas odds are, let alone how to use them to calculate their potential winnings. Luckily, we’re here to help you learn everything about Vegas odds in UFC.
Ufc Odds Explained
How Do UFC Odds Work?
If you see that odds on one fighter are presented as a negative number (e.g., Nurmagomedov -150), it means that they are the favorite. Likewise, if a fighter’s odds come with a positive number (e.g., Miocic +130), it means that the fighter in question is the underdog in that bout. The higher the number, the bigger favorite/underdog the fighter is.
If both fighters are given the same odds (usually -110), it means that they have equal chances of winning. The same applies to all the other markets, like the total number of rounds, method of victory, and so on.
How to Calculate Vegas Odds in UFC?
Now that you know what Vegas odds in UFC mean, the next obvious question is how can you use them to calculate your potential winnings. There are two formulas to use, depending on whether the Vegas odds are displayed as a positive or negative number.
If it’s a positive number, you should go with the following formula:
Vegas Odds/100 x Your Stake
The figure you get from this equation represents your net winning, but you should know that you will get your stake back as well.
If the fighter’s odds are displayed in negative, you should go with this formula:
Your Stake/Vegas Odds x 100
How Vegas Odds Help You Pick the Fight Winner?
Keep in mind that Vegas odds do not equal true probability. The fact that a fighter is a favorite to win does not necessarily mean he/she is actually better than the opponent. At least, not in every case. Sometimes, Vegas odds are reflective of bettors’ behavior. If they’re wagering a lot of money on one player, the odds are going to change in his favor.
Still, in most cases, Vegas odds are as close as possible to true probability. The thing is that the oddsmakers employed by big-name Las Vegas sportsbooks are really good at their job. The result is that the fighters labeled as favorites by Vegas oddsmakers win the fights most of the time.
Using Vegas Odds to Calculate Fighters’ Chances
You can use Vegas odds to calculate the favorite’s chance of winning the fight. It’s done through this formula:
Percentage = (Vegas Odds / (100 + Vegas Odds)) x 100
Note that in this formula you need to use a positive number, even though the odds on favorites are displayed as negative numbers. This may seem confusing, which is why we’re going to explain it through an example.
Let’s say you wish to see what are the chances of Jon Jones winning his next fight, you need to find the odds Vegas sportsbooks are giving on his win. If the odds are -120, for example, you need to divide 120 by 220 (100+120). The result you get, which in this case is 0.54, you need to multiply by 100 in order to get Jones’ chance represented as a percentage. In this case, his chance of winning would be 54%.
When it comes to calculating the probability that the underdog is going to win the fight, here’s the formula you should use:
Percentage = (100 / (100 + Price)) x 100
In this case, too, you will get the fighter’s chance displayed as a percentage. Apart from using these formulas to calculate chances of fighters winning, you can also use it for other wager types as well. This goes beyond UFC – you can use these formulas to calculate probability in literally any sport.
Kansas City Chiefs (-250), Las Vegas Golden Knights (-110), Toronto Raptors (+125) – the chances are that you’ve come across these sorts of options in your sports betting journey. If you don’t know what these numbers mean, you’re not the only one.
A large number of betting newbies have no idea what the figures are representing. If you want to learn, you’re at the right place. We’re now going to show you how Vegas odds work. We will also explain the process of making the odds. We’re even going to show you how to use this knowledge to your advantage.
How Do Mma Odds Work
What Are Vegas Odds?
Vegas odds a.k.a. American-style odds are the ones you will see in the land-based sportsbooks across Nevada. Caesars, Wynn, Golden Nugget – all these bookies are using the Vegas odds format.
The trouble is that they may seem strange to the inexperienced eye. However, everything becomes clear once you learn more about them. So, how do Vegas odds work?
These odds come in the form of three-digit numbers, which can either be positive or negative. If the number is negative, it means that the team is the favorite. If it’s a positive number, it’s the opposite. If the number on each potential outcome is -110 (or sometimes -105), it means that each team has an equal chance of winning.
The big question is how can you use these odds to figure out how much money you’re going to cash in if your bet wins? That’s the question we’re going to answer next.
How You Calculate Vegas Odds?
How Do Ufc Betting Lines Work
You calculate your potential win based on whether the odds come as a positive or a negative number. If the odds are positive, e.g., +150, it practically means that this is how much you can profit if you bet $100.
Let’s say you want to bet Justin Gaethje at Vegas odds of +150. If you put, $100, you’re going to make a net profit of $150 if he wins. But, what if you’d like to bet a different amount?
In that case, you need to use the following formula:
Vegas Odds/100 x Your Stake
So, let’s say you wish to put $70 on Gaethje, your potential net profit is calculated by dividing his odds by 100, then multiplying the number with 70.
Use your calculator and you will see that 150/100 x 70 equals 105. That is how much you will make if Gaethje wins. Note that $105 is your net profit, while you’ll also get your $70 stake back. So, your total win would be $175 on a $70 bet.
An important thing to remember is that the aforementioned formula only works if odds are displayed as positive numbers. If the number is negative (e.g., -150), you need to go with a different formula. In that case, this is what you got to use:
Your Stake/Vegas Odds x 100
This is because, with Vegas odds, the negative number represents the amount of money you need to bet in order to win $100. So, if the odds are -150, you will have to bet $150 to get a net profit of $100.
Ufc Betting Odds Vegas
Is There a Simpler Alternative?
Vegas odds are traditionally used in land-based sportsbooks across Nevada. It’s been like that for decades, and when online sports betting became legal in other US states, most operators decided to embrace this format.
The same was the case with offshore sportsbooks that cater to American customers, with one important difference – BetOnline.ag, MyBookie.ag, SportsBetting.ag, and many other bookies let the players decide on the odds format.
So, if you find Vegas odds too complicated, you can always use decimal odds in offshore sportsbooks. How they work is that your stake is multiplied by the odds. The result you get is your gross profit (your net profit + your stake). For example, if the odds on Tampa Bay Buccaneers are 1.65 and you wish to bet $90, your potential win is $148.5.
Who Sets the Odds in Vegas?
When speaking about Vegas odds, there’s another question that pops out – who decides them? Some sportsbooks employ teams of oddsmakers to come up with the odds, while some hire independent companies to do the work for them.
In both cases, the goal is to set the odds in such a way that they attract equal action on both outcomes. This way, the sportsbook is going to make profits regardless of the outcome. As a result, the Vegas odds on the favorite are always negative numbers, while underdogs get positive numbers.
Oddsmakers take into account various factors to decide who’s the favorite/underdog. What we’re talking about are power rankings, game locations, the form of the teams, and so on. However, this doesn’t necessarily mean that Vegas odds equal the true probability.
Using the Odds Knowledge to Your Benefit
How Do The Odds Work In Ufc
The thing about odds is that they change all the time. For example, there might be some big news coming from a team’s roster, such as an injury of a key player. You can be sure that the sportsbooks will adjust the odds in that case in order to protect themselves.
Still, the #1 reason why odds change lies in the behavior of the bettors. If the players suddenly start betting on one outcome, the sportsbook will have to react by adjusting the odds. They will move the odds on the outcome in question (e.g., from -128 to -175), while moving the odds against the opposite outcome (e.g., from +108 to +155).
How To Understand Betting Odds
This way, they are making sure they aren’t going to have to pay out too much money if the favorite wins. At the same time, they are encouraging bettors to put their money on the underdog with the odds more lucrative than earlier.
How Do Betting Odds Work In Ufc
How can you use this knowledge to your benefit? You can go on an odds hunt. If you compare all the odds available, you will be able to find the best value for your bets. It may be at a Vegas-based sportsbook or it could be at an offshore website, you’ll find out only after you’ve compared them!