Online sports betting is coming to Maryland. This page will be updated with the latest promos and sportsbooks as soon as MD sports betting is live.
At first glance, sports betting odds can seem intimidating. While it may seem like just a jumbled collection of numbers, the reality is different. It’s actually pretty easy to learn how to read the odds, and a little bit of guidance goes a long way toward shortening the learning curve.
Online sportsbooks post a range of daily and season-long betting odds. You’ll find lines for top sports like the NFL and NBA, odds for big UFC and NASCAR events, and even odds for sports that don’t attract as much attention, like Formula One and rugby.
We’ll walk you through the basics of betting odds in Maryland, from how to read the odds and what they’re telling you to how to calculate payouts and more. We also will eventually have a live odds feed of the top Maryland online sportsbooks, so you can compare odds, claim new account bonuses and jump on lines you like to make actual bets.
Current sports betting odds at Maryland sportsbooks
Check below for the latest odds directly from MD online sportsbooks for the NFL, NBA and NHL, MLB, college football, college basketball, and more. With all of the latest odds, you don’t have to go through the hassle of searching from book to book for today’s best sports betting odds. These are the latest numbers directly from the top sportsbooks. You can use the drop-down menu to change the sports and odds that you want to see for today’s games.
How to read sports betting odds
A set of sports betting odds can be confusing for beginners, but a little bit of seasoning is all that it takes to understand what the numbers mean. As an example, consider a standard NFL listing at a US sportsbook:
|New York Giants||+2.5 (-110)||+120||Over 45.5 (-110)|
|Washington Football Team||-2.5 (-110)||-130||Under 45.5 (-110)|
Next to the two team names are a series of numbers. These are the odds and lines for three main bets:
- Point spread
- Total (aka over/under)
For spreads and moneylines, negative numbers indicate the favorite, while positive numbers are for underdogs. When reading the spread and total lines, you’ll see the number for the bet and the odds for placing it.
In this example, Washington is favored by 2.5 points over the Giants, along with being the moneyline favorite in a game with a projected total of 45.5 points.
To place a bet on the game, you simply have to click on the odds for your choice, which will move it directly to the betting slip. From there, add your wager amount, verify everything is correct, and click submit.
After the game is through, bettors who have made the correct choice will receive their winnings right away. When you place the bet, the book will display your potential return. We’ll walk through how you can calculate it on your own in a bit. Here’s a quick run-through of how the big three bets work.
- Point spread: Choose the favorite minus the spread number or the underdog plus the same number. The side you choose has to cover the spread.
- Moneyline: Just pick which side you think will win the game.
- Totals: Choose over or under the estimated number of points for the game.
How are odds payouts calculated?
When you get ready to place a bet at an online sportsbook, the betting slip will display what the payout will be if you win. Despite that, it’s still a good idea to know how to calculate it on your own. This way, you can spot wagers you might like just by reading what the odds have to say and doing a quick calculation. In the formulas below, if the odds are negative, you would make them positive for the purposes of the calculation.
- When odds are negative:
- (Stake)/(Odds/100) = Payout
- Example: 100/(130/100) = $76.92
- When odds are positive:
- (Stake) x (Odds/100) = Payout
- Example: 100 * (130/100) = $130
As you can see, the formulas vary depending on the direction of the odds. There’s also a way to do an even quicker estimate of what you can expect back.
- When odds are negative:
- The odds are equal to how much you would need to wager to see a return of $100.
- Example: $110 at odds of -110 will return a potential profit of $100.
- When odds are positive:
- The odds are equal to how much you’d get back on a winning $100 bet.
- Example: $100 at odds of +110 will return a profit of $110.
Sportsbooks will pay out winning bets as soon as the game is over. In the event of a tie, the bet is a push, and the sportsbook will refund your stake.
For example, a regular season NFL game that winds up knotted at 28 apiece at the end of overtime results in a push for moneyline bettors on both sides.
For multi-leg parlays, odds and payouts are based on the total of all selections on the betting slip. As an example, here’s what the odds might look like for an MLB moneyline parlay with three selections on the slip.
- Orioles over Red Sox at odds of +110
- Astros over Angels at odds of -178
- Diamondbacks over Marlins at odds of -124
- Total parlay odds of +505
If you bet $20 and all three picks are correct, the winning parlay would return a profit of $101.
While that’s an outstanding return for this winner, it’s important to remember that parlays are really tough to hit. The risk rises with each selection that you add to the slip, and the chances of being correct on all picks decrease with each addition.
How do the odds show your probability of winning?
Sports betting odds can also point you toward the most likely outcome, at least as far as the oddsmakers perceive the matchup. You can calculate the implied probability of a team winning by doing some calculations using the odds. For example, let’s say that you wanted to place a simple NBA moneyline bet at the following odds.
- Toronto Raptors +110
- Washington Wizards -130
Now that we know the odds, we can use two separate formulas to find the implied probability on both sides. As with figuring payouts, the calculation varies depending on the direction of the numbers, and if the odds are negative, still use a positive number for the calculation.
- When odds are negative:
- Odds / (Odds + 100) * 100 = Implied probability
- Example: 130 / (130 + 100) * 100 = 56.5%
- When odds are positive:
- 100 / (Odds + 100) * 100 = Implied probability
- Example: 100 / (110 + 100) = 47.6%
If we add the implied probabilities on both sides together, we come out with 104.1%. So why isn’t it exactly 100% since the outcome can only go one of two ways? This is because of the vig that the sportsbook has built into the bet.
Sportsbooks charge juice as a cost of facilitating wagers. On a point spread bet, it’s readily apparent. If you bet $100 at standard odds of -110 and win, you’ll get back $90.90. It’s not a doubling of your money with the vig, which in this case is 9.1%.
The vig may not always be so easy to spot, but it will always be built into the odds that you see displayed at sportsbooks. To understand the impact, consider that a spread bettor consistently wagering at odds of -110 has to win a minimum of 52.4% of the time to turn a profit.
How live sports betting odds work
You can keep on betting in real time as games play out. That’s thanks to live betting, an area of the sports betting industry that has grown tremendously in recent years. Live betting is available at all of the major sportsbooks, and you’ll find a dedicated section for current offerings. Here are some examples of things you can bet on:
- Which side will score three runs first — Orioles or Red Sox?
- What will be the result of the Ravens’ next drive — TD/FG/TO/punt?
- How many total points for Bradley Beal in the second half — over/under 14.5?
Odds for live bets update rapidly throughout the game. Beyond the various prop-style offerings, there will also be updated lines on the main types of bets. As an example, consider an NFL game that has the following moneyline odds prior to kickoff.
- Cleveland Browns +115
- Pittsburgh Steelers -135
The Steelers are favorites in the game, as indicated by the negative odds on that side. At halftime, the Browns are in complete control of the game and out to a surprising lead of 21-3. If you checked out the live betting odds at this point, here’s what you might see:
- Cleveland Browns -200
- Pittsburgh Steelers +180
Bettors now have the chance to hedge their initial positions or double down, while those who have no pregame action on the contest can just bet how they want or simply take a pass and look for other options.
Vegas odds vs. MD sportsbook odds
Las Vegas had the US legal sports betting market to itself for decades. That’s part of the reason why it has come to be known as the “sports betting capital of the world.” If you wanted to know the odds for a game or event, the word coming out of the desert served as the first and last word on where things stood.
These days, the story has changed. The lines from Sin City are still on point, but the same holds true for the sportsbooks in other legal states, including here in Maryland. A vast majority of the time the odds will be the same at the Vegas sportsbook and at other states with that sportsbook.
What causes betting odds and lines to change?
The numbers won’t stand still after the odds first come out for a game. In fact, they may continue moving right up until the start of the game. There are three main reasons this happens.
- Betting action: Sportsbooks will adjust the numbers in response to betting action. If one side brings in most of the money, the books will make the popular side less attractive and the opposite side more appealing in an attempt to level it out.
- Injuries and questions marks: If a key player is ruled out after the odds come out, that can lead to adjustments in the numbers. The same holds true if questions arise around the availability of a key cog or two.
- Weather and other factors: A sudden shift to less favorable weather can disrupt the odds board. The same holds true for other unexpected events like a shift in venue or concerns over playing conditions.
While line moves can be a pain when you’ve done your research at a certain number, remember that you can always shop around and compare sports betting odds. Additionally, there are times when the line will move in a direction that you like.
Regardless, be sure to be cognizant of how the lines have moved after the initial release. This can provide you with valuable insight on how the public money is flowing and books are responding, and also potentially point you to news that you may have missed.
Line shopping for the best odds
As mentioned, you can always shop around to find the best odds. This simply means that you’re comparing the odds and lines at multiple books to find the numbers that offer you the best payout or the best shot to win. It’s a worthwhile practice that can have a direct impact on your bottom line.
For a quick example, let’s say that the Baltimore Ravens are a -150 moneyline favorite over the visiting New England Patriots. While you like Baltimore to win, you’d naturally like to see the chance for a greater return. You do some shopping and find a book that has the line at -140 for the Ravens and decide to place your NFL bet there as a result.
To make line shopping easier, remember that you can lean on the live odds feed above. It pulls together real-time data from the top sportsbooks on all of the major bets and games. By taking the time to shop around, you can make sure that you get the best value for your money.
Sports betting odds formats explained
There are three main ways that sportsbooks display odds:
The default odds you’ll see at online sportsbooks in Maryland will be American odds, but it’s still good to understand how all three work in case some of your information sources use another format when outlining their picks or preferences. Here’s an explanation of each format:
This is what you’ll see at legal US sportsbooks. For a standard moneyline bet, the odds will be in three-digit format with the direction of the numbers a critical component: negative for favorites and positive for underdogs.
- Philadelphia Eagles +120
- Baltimore Ravens -140
In Europe, the default listing for odds is in decimal form with a single number on both sides of the decimal. The lower value points to favorites, while the underdog will have a larger number.
- Pittsburgh Penguins 2.1
- Washington Capitals 1.9
This style of odds appears in horse race betting, and it’s also the preferred method in the UK and Ireland. The fraction with the lower value indicates the favorite, while the higher number is for the underdog.
- Philadelphia Phillies 3/1
- Washington Nationals 4/5
At some sportsbooks, you’ll see a menu option that will let you toggle between the three styles of odds. Since American odds are the most common listing you’ll be coming across, it’s helpful to know how to convert from other formats.
Convert decimal to American odds
- Positive: Decimal value minus one multiplied by 100.
- Example: (2.9 – 1) * 100 = 190
- Negative: Negative 100 divided by the decimal odds minus one.
- Example: -100 / (1.4 – 1) = -250
Convert fractional to American odds
- Positive: Value of fraction multiplied by 100.
- Example: (4/1) * 100 = 400
- Negative: Negative 100 divided by the value of the fraction.
- Example: -100 / (2/9) = -450