A fractional listing of 6/1 (six-to-one) odds would mean that you win $6 against every $1 you wager (in addition to receiving your dollar back, i.e. $1 – the amount you wagered). How to calculate odds. Our betting odds calculator takes a step further and calculates the percentage probability of winning and losing. The team would win 5 out of 6 games and lose 1 of them. By converting fraction to percent, we can say that the chances of winning are 5/6 = 83.33%, and of losing 1/6 = 16.67%.

1. In gambling, if someone is offering you 40 to 1 odds, they are NOT going to offer that much unless the chances of that pick being a winner is WORSE than 1 out of 40. If you're getting 40-1 odds.
2. Winning Place (1/5 odds) Entering Each way bets. If you're making an Each-way bet, enter the individual stake, but remember that it will cost you double i.e. A '£20 pound each way' bet is, in fact, TWO £20 bets, so it costs you £40. But for the calculator, enter it as £20.

Dustin Johnson is the betting favorite to win this week's U.S. Open at Winged Foot Golf Club, but some popular veterans are attracting notable action at sportsbooks around the U.S.

More money has been bet on Tiger Woods to win the tournament than has been bet on any other golfer at William Hill sportsbooks, while Phil Mickelson has attracted the largest bet.

As of Tuesday night, 18% of the money that had been wagered on the tournament winner was on Woods, who is listed at 40-1. Johnson is the favorite at 17-2, followed by Jon Rahm (10-1), Xander Schauffele (14-1) and Justin Thomas (14-1).

Mickelson is way down the odds board, but there are some believers in the left-hander who has never won the U.S. Open. Last week, a bettor placed a $45,000 bet on Mickelson to win the tournament at 75-1 odds at a William Hill sportsbook in southern Nevada. The bettor would win a net $3.375 million if Mickelson prevails.

The wager represents the second-largest liability on an individual golf bet in William Hill's history in the U.S., behind only a $100,000 bet placed last year on Woods to win all four major tournaments at 100-1 odds.

Mickelson held a 1-shot lead on No. 18 of the 2006 U.S. Open at Winged Foot, but then double-bogeyed and lost by 1. He joked about the big bet on him on Twitter.

Only Schauffele had attracted more bets to win the tournament than Mickelson at the Westgate SuperBook in Las Vegas.

'Phil is our largest liability,' said Jeff Sherman, vice president of risk management for the SuperBook.

Sherman said Woods has attracted a lot of bets but not much money. 'He's a positive position for us, which is rare for a major,' Sherman added.

At FanDuel's sportsbooks, Woods had attracted more bets to miss the cut than any other golfer.

40 1 Odds

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How to read Super Bowl 56 Odds

The Kansas City Chiefs lost to the Tampa Bay Buccaneers in Super Bowl 55. However, the Chiefs remain the favorites to win Super Bowl 56 at SoFi Stadium in Inglewood, California.

The Chiefs are listed at 6/1 odds (Bet $100 to win $600), while the defending champion Buccaneers are the third-betting choice at 10/1.

In between Kansas City and Tampa Bay are the Green Bay Packers, who are currently at 9/1 odds.

Here is a quick reference on Super Bowl odds for the upcoming 2021 NFL season.

How to read NFL Las Vegas Odds

The point-spread was developed to provide a balance for both teams involved in a contest to entice bettors to potentially back the weaker team and receive points. The two squads in a game are listed with a title, either a favorite or an underdog. The favorite is usually the perceived better team in the game, as backing them means giving up several points.

The favorite is always listed with a minus (-) sign before the point-spread while the underdog is labeled with a plus (+) label.

Ex. Favorite -10, Underdog +10

On the VegasInsider.com odds page, there is another number associated with the favorite and its listed as -10. This number is simply defined as “vig” or what many in the sports betting industry call vigorish. Another common term is called “juice” and it’s technically the price the bettor has to pay on a straight wager.

Ex. Bet $110 to win $100 (10% juice)
Ex. Bet $100 to win $90.91 (10% juice)

It's not uncommon to see other values posted other than -10. Examples seen on the NFL Vegas Odds pages could include -08, -12, -15 and -20. The -10 price is the most common value in the industry while many books offer reduced 'juice odds' and that would fall into the -08 category.

The lower-juice sportsbooks are normally found outside of the state Nevada. If you are in a state where sports betting is legal, please check out our online sportsbook directory to find the best and most secure places to make NFL bets.

Another number that’s posted on the NFL Las Vegas is the total or ‘over/under’ for the specific matchup. If the favorite is designated as the home team, then the total will be listed above and vice versa if the visitors are favorites.

All of the above numbers are listed next to the teams, and before each matchup is a Rotation number. The NFL Las Vegas Odds are listed in order of rotation and those numbers are generated and produced by the sportsbooks. Above each matchup and rotation is the Time of the game, which is subject to change. All game times are Eastern Standard Time.

NFL Open Line

One of the best features on the NFL Vegas Odds is the Open Line. This numbers consists of the first betting line received from one of our Las Vegas or Global Sportsbooks. The opening line varies depending on the sportsbook but it provides a clear-cut rating that the oddsmakers use. If you’re betting on the NFL or any other sport, it’s a great idea to view the open line first.

VI Consensus NFL Line

The VegasInsider.com Consensus NFL Line is just as important as the Open Line and also a key resource on odds platform. The Consensus column could be called a “Median Line” since it shows the most consistent number provided by the sportsbooks on VegasInsider.com. The consensus line will be the same as the open line but once the wagers start coming in, this number is often different than the openers.

How do I bet on the Super Bowl?

We know that you can bet on the Super Bowl and all of NFL Futures or bet on the NFL Draft at any time of the year, but what’s the process? The future wager or the “Odds to Win” bet on the Super Bowl is correctly selecting a team to win an event that takes place at a later time. A bettor will have his wagered money tied up until there is an outcome and bettors will receive fixed odds when they place the wager. In the case of the Super Bowl, you’re not a winner or loser until you see zeros on the clock in the final game.

Most sportsbooks offer different ways to read to Super Bowl Odds. In the fractional NFL Futures Odds format below, you simply take the odds and multiply by the amount wagered.

40/1 Odds Each Way

Ex. Green Bay (8/1) to win the Super Bowl

What Does 40-1 Odds Mean

The Packers are listed as an 8/1 betting choice to win the Super Bowl. If you wager $100 on Green Bay to win the NFC and they capture the championship, then you would win $800 (8 ÷ 1 x 100). Your online betting account would then credit your account $900, which includes your win and stake ($100).

40/1 Odds

The American Format would see Green Bay listed at +800 and for the Decimal Format, the Packers would be 9.00.

If you are in a state where online betting is legal, we encourage you to check out our sportsbook directory to find the most trustworthy and reputable sites and mobile apps to place your Super Bowl bets.