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How to Bet

Learn the fundamentals of sports betting odds and how payouts are calculated.

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Understanding American Odds

SportToken uses American odds (also called moneyline odds), the standard format for US sports betting.

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Reading the Numbers

Odds are displayed as either positive (+) or negative (-) numbers:
  • Negative odds (-): Indicates the favorite (more likely to win)
    • Shows how much you need to bet to win $100
    • Example: -150 means bet 150towin150 to win 100
  • Positive odds (+): Indicates the underdog (less likely to win)
    • Shows how much you win if you bet $100
    • Example: +200 means bet 100towin100 to win 200

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Quick Examples

OddsTeam TypeMeaning
-200Heavy FavoriteBet 200towin200 to win 100 (67% implied probability)
-150FavoriteBet 150towin150 to win 100 (60% implied probability)
-110Slight FavoriteBet 110towin110 to win 100 (52% implied probability)
+110Slight UnderdogBet 100towin100 to win 110 (48% implied probability)
+200UnderdogBet 100towin100 to win 200 (33% implied probability)
+500Heavy UnderdogBet 100towin100 to win 500 (17% implied probability)

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Calculating Your Payout

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For Negative Odds (Favorites)

Formula: Payout = (Bet Amount / |Odds|) × 100 Example: Bet $50 on Lakers at -150 
Profit = ($50 / 150) × 100 = $33.33
Total Payout = $50 + $33.33 = $83.33

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For Positive Odds (Underdogs)

Formula: Payout = (Bet Amount × Odds) / 100 Example: Bet $50 on Celtics at +200 
Profit = ($50 × 200) / 100 = $100
Total Payout = $50 + $100 = $150

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Quick Payout Calculator

For any odds, your total payout is always:
Total Payout = Your Bet Amount + Your Profit

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Types of Bets

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1. Moneyline (Winner)

Bet on which team will win the game. Example: 
Lakers -150
Celtics +130

Bet $100 on Lakers → Win $66.67 if Lakers win
Bet $100 on Celtics → Win $130 if Celtics win

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2. Point Spread

Bet on the margin of victory. The favorite must win by more than the spread; the underdog must lose by less than the spread (or win). Example: 
Lakers -5.5 (-110)
Celtics +5.5 (-110)

Lakers must win by 6+ points
Celtics must lose by 5 or fewer (or win)

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3. Totals (Over/Under)

Bet on whether the combined score will be over or under a set number. Example: 
Total: 215.5
Over 215.5 (-110)
Under 215.5 (-110)

If final score is Lakers 110, Celtics 108 = 218 total
Over wins, Under loses

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4. Parlays

Combine multiple bets into one. All selections must win for the parlay to pay out. Higher risk, higher reward. Example: 
3-Leg Parlay:
- Lakers -150
- Over 215.5 -110
- Warriors +120

$50 bet → Potential payout: $450+
(All three must win)
Learn more about parlays and how SportToken’s fair odds work.

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How SportToken Odds Work

Unlike traditional sportsbooks, SportToken provides fair odds with transparent pricing:
  1. No vig on single bets: We remove the bookmaker’s built-in profit margin
  2. Transparent fees: Small fee only charged on winning bets
  3. Better value: Fair odds mean better payouts for you

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Example Comparison

Traditional Sportsbook: 
Lakers -150 / Celtics +130
(Bookmaker keeps ~5-7% margin)
SportToken: 
Lakers -140 / Celtics +140
(Fair odds, small fee on winning bets)
This gives you better value on both sides of the bet.

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Tips for Beginners

Start small: Place small bets while you learn how odds work and develop your strategy.
  1. Understand implied probability: Negative odds mean higher win probability, but lower payout
  2. Bankroll management: Never bet more than you can afford to lose
  3. Shop for value: Better odds = better value for your money
  4. Avoid heavy favorites: Small payouts, big risk
  5. Research: Check team stats, injuries, and recent performance

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Bet Limits

  • Minimum bet: $1
  • Maximum bet: Varies by game liquidity
    • Displayed on each game card
    • Higher for popular games
    • Lower for niche markets

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Examples with Real Numbers

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Example 1: Betting on a Favorite

Game: Thunder vs Spurs
Odds: Thunder -250

You bet: $100 on Thunder
Thunder wins: You profit $40
Total payout: $140

Your return: 1.4x your bet

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Example 2: Betting on an Underdog

Game: Trail Blazers vs Warriors
Odds: Trail Blazers +300

You bet: $50 on Trail Blazers
Trail Blazers win: You profit $150
Total payout: $200

Your return: 4x your bet

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Example 3: Spread Bet

Game: Lakers vs Celtics
Spread: Lakers -7.5 (-110)

You bet: $110 on Lakers -7.5
Lakers win 115-100 (by 15 points)
You win: $100 profit
Total payout: $210

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Example 4: Parlay

3-Team Parlay:
- Lakers ML -150
- Over 220.5 -110
- Warriors ML -120

Combined odds: ~+350
Bet $100 → Potential win $350
Total payout: $450

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Understanding Probability

American odds can be converted to implied probability:

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For Negative Odds

Probability % = |Odds| / (|Odds| + 100) × 100

-150 odds = 150 / (150 + 100) × 100 = 60%

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For Positive Odds

Probability % = 100 / (Odds + 100) × 100

+200 odds = 100 / (200 + 100) × 100 = 33.3%

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Common Questions

Why do odds change?
  • Betting action from other users
  • Injury news
  • Line movements from professional bookmakers
  • Game time getting closer
What happens if a game is postponed?
  • Bets are typically voided and refunded
  • Check specific sport rules
Can I cash out early?
  • Not currently, but coming soon
  • All bets settle when the game ends
What’s the best bet type for beginners?
  • Start with moneyline (straight winner bets)
  • Easier to understand than spreads or totals
  • Move to spreads once comfortable

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Next Steps

Ready to place your first bet?
  1. Deposit funds into your account
  2. Browse live games or upcoming matches
  3. Click on a game to see all available bets
  4. Select your bet and enter your amount
  5. Confirm and watch the game!
New to betting? Try small bets on games you’re watching. This helps you learn how odds work while enjoying the game.

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Advanced Topics

Want to dive deeper? Check out: