Online sports betting is expected in Ohio, but not live as of yet. This page will be updated with the latest news, odds and promos once Ohio sportsbooks are live.
Legal sports betting is growing rapidly across the United States, and with each new state that legalizes it, a swarm of new bettors is entering the market with a lot of questions about all aspects of the hobby.
Here in Ohio, people are asking the same questions, which is what this guide is for, complete with a full odds feed for you to include in your betting strategy and research.
Read on for more information to help you understand sports betting odds in Ohio.
You’re going to see a whole lot of odds that we’ve listed. That feed includes all of the latest information on all of today’s games in several major sports. The numbers update automatically, which means that as soon as the sportsbooks release new lines, the odds feed makes it available to you.
Even if you go to one of the sportsbook’s homepages, the information you find there will be exactly the same because of our odds feed system. Here are some of the sports that our feed covers:
More sports could join in the near future as we expand our offerings in the state of Ohio. If you see a blank spot where odds usually appear, that means the sport is in its offseason. However, that doesn’t mean there aren’t bets to make, as every major sports market also has a robust futures offering as well. You can find our futures section below for more information, and it won’t be long before you see futures odds in the feed above.
During your research and handicapping, you’ll come across American, decimal and fractional odds. US sportsbooks only use American odds. Below is an explanation of how these odds work.
American odds can be a bit confusing at first, but bettors who stick with the hobby are pretty quick to figure them out.
The first thing you’ll notice is that the odds appear as either positive or negative numbers. In American odds, the negative number indicates the favored side, while the positive number represents the odds for the underdog.
Negative odds show a bet that is for less than even money. So, as an example, if you see odds of -110, you would need to wager that amount in dollars in order to win $100 in profit. You of course don’t have to wager that exact amount, and the payout would reflect the amount that you actually bet.
Positive odds are for bets that are greater than even money. So, instead of the above situation at -110, we’ll say the odds are at +110. With a wager like this, the payout potential is higher. For every $100 that you bet at +110, you would receive $110 in profit if your bet won. Your payout would be $210 — your initial $100 wager plus $110 in profit.
Not all sports lines and odds are released in the same fashion as others. For game day odds in most sports, you can usually find lines for things like point spreads and totals from a day to up to a week in advance. The same goes for moneyline odds, though they are typically the last to come out.
Futures odds, on the other hand, are the earliest odds to come out at almost every sportsbook. These focus on events that have yet to happen and aren’t immediately upcoming.
All odds may shift, and they do so based on where the bets are going, news updates and more. The initial release of odds — ranging from futures to props to moneylines and more — happens after sportsbooks sift through as much data as they can in order to create the best predictive model possible. The more information that goes into that decision, the more narrowed down the final odds will be.
When new information or trends emerge, oddsmakers take all of that into consideration and adjust the odds accordingly. For example, a football team might be favored to win a game and have heavy odds in its favor, but then the starting quarterback is ruled out for the week. Those NFL betting lines are going to shift and better reflect that team’s chances of winning now that the injury news has come out.
However, you lock the odds in wherever they are when you place your wager. So even if you see the odds shifting after you’ve made a wager, your NFL sports bet will remain the same.
With our odds feed above, you’ll be able to toggle between three main bets: moneylines, point spreads and totals. You may have heard of these three because they are available at virtually every sportsbook you’ll encounter.
One of the things we want you to keep in mind about the odds feed we are featuring above is that the numbers you are seeing are live. They shift automatically when the sportsbooks update their own lines. Because of that, it’s important to make your bets when you see odds you really like. With Ohio sports betting sites, you’ll be able to make wagers from the comfort of your own home, or at the local restaurant or even sitting in the stands.
Hover over the odds that you like in the feed above, and you’ll see the option to “Bet now.” By clicking those odds, you will head to that sportsbook, where you can make your wager and lock in those numbers, no matter how much the line shifts after that.
Point spread betting is the preferred bet for experienced bettors. The best way to describe it is to say that the point spread is a projected margin of victory for the favorite, and a project margin of defeat for the underdog.
Let’s use the Cleveland Browns for our example. Say they are playing the Pittsburgh Steelers and are favored to win with a point spread of -3. That means the Browns will have to win their game by more than three points in order for a spread bet on the Browns to be successful.
The Steelers, on the other hand, would be projected to lose by a margin of three (the sportsbook would list them as +3). In order for wagers on them to win, the Steelers would need to either win the game by any score or lose by fewer than three points.
If Cleveland wins by three points exactly, the bet would be a push, which means that no one would win or lose their bets and the sportsbook would refund the wagers. That’s why most sportsbooks are going to include a half-point, such a +/-3.5, to keep a push from happening.
Usually with point spreads, the odds will be pretty close to the same, around -110 for both teams. That’s because the game is a bit more “even” with the point spread, and if bettors put an equal amount of money on both teams, -110 odds ensure a profit for the sportsbook no matter which side wins.
This is likely the easiest type of bet to understand. With moneyline betting, you just need to pick which side will win. For example, if the Cincinnati Bengals are playing the Baltimore Ravens, you just wager on which team will come out on top. If you’re right, then you get paid. If you’re wrong, then your bet loses.
The oddsmakers identify the favorite with negative odds, while the underdog usually has positive odds. It sounds easy enough, and a moneyline bet is definitely the most straightforward. But because of the relative ease of the wager, the often-lopsided nature of the two teams playing and other factors, it is the bet that can offer the least potential payout if you win. If you pick the favorite, that is.
A listing at FanDuel Ohio sportsbook might look something like this:
What you see is an indication that the sportsbook views the Cavs as the favorites and the Pacers as the underdogs in this matchup.
If you were to wager $200 on the Cavaliers and they won, your payout would be $300 — your initial wager plus $100 in profit. Of course, you could bet more or less than $100, too.
If you bet on the Pacers and they won, you would win $180 for every $100 you wagered. Positive numbers show you how much of a profit you’d make for a $100 bet. Again, your wager can be any amount.
These bets, which are commonly referred to as over/unders, are another popular option. The idea is pretty simple: Oddsmakers determine a total number of points they think the two sides will combine to score. You can wager on whether the actual total score will be over or under that line.
You don’t have to worry about which team will win. Instead, your only focus is the total number of points the two sides will combine to score. Let’s look at the Browns vs. Bengals totals and say DraftKings Sportsbook in Ohio made the following prediction:
If the final score is 31-20, then the bettors who went with the under would win, and bettors on the over would lose. The payout works the same as the above examples. With a negative number, you have to wager that amount in order to win $100.
When you’re making wagers, it’s good to know what the chances are that your bet is going to win. This “implied probability” refers to what the sportsbook is saying are the chances of a particular outcome, as hinted at by the odds.
In order to calculate the implied probability on a wager, you have to do some math. Fun, right? But if you want to get an estimate of the likelihood of an event happening, then you’re going to have to get out the ol’ calculator (or, in this era, smartphone).
The formula for calculating implied probability is pretty simple. Let’s take a look at an example using American odds since those are what you’ll see most in Ohio sportsbooks. We’ll say a sportsbook has the Columbus Blue Jackets as +125 underdogs to win a game. In order to find the implied probability, you have to use the following formula:
Using the Blue Jackets’ odds, here’s what we get:
Now let’s say that the Blue Jackets were at +110 instead. Here’s what it would work out to:
See how the shift in odds changes the implied probability slightly? Such a shift may or may not make you feel better about placing a wager, but it’s good information to have.
Negative odds work a little differently, though the formula looks very similar. Instead of the above, the calculation for the implied probability of negative odds is this, dropping the negative sign for the calculation:
We’ll use the Cavaliers as an example this time. We’ll say they are the favorites to win their next game with -135 odds. The formula would work out like this:
Calculating the implied probability will help with your betting strategy, help you make determinations based on your research and finding the best odds for your wagers and more. It’s an easy formula that provides a decent amount of information, making it a valuable tool for handicapping and sports betting.
Signing up for an online sportsbook is pretty easy, and better yet, it’s free. You can have accounts at multiple books, and if you’re going to be serious about maximizing your potential profit, you definitely should consider that approach.
Why? It’s simple: You should shop around to get the best possible odds and, in turn, give yourself the best potential return on your bet.
While most odds are going to be pretty similar, you need to keep in mind that each sportsbook employs its own oddsmakers. That leads to inevitable variations of sportsbook odds, which gives you an opportunity to make more money.
By finding the better odds for a wager you already intend to make, you’re just making sure that your potential profit is as high as possible. Good bankroll management is important to any betting strategy, and shopping for the best odds is just sound practice when dealing with potential profits.