To enjoy the world of online betting, you must first understand Florida betting odds. Our guide goes through what betting odds are and how they work. Then, you’ll learn how to calculate your odds and payouts. We’ll also dive into which bets are available in Florida and how to choose the ones that are best for you.
FL betting odds
When participating in sports betting, you need to be familiar with the betting odds in Florida. These odds stand for the chances a team or player will win a specific match. The odds will also help you calculate how much you can win on that particular bet.
We will go through how to read the odds for online betting in Florida. Then, you’ll learn how to approach odds for different betting options and even how to calculate your payout. Finally, we’ve added in our top sportsbook choices for the best odds in Florida. By the end of our guide, you will be well-informed and ready to win your bets.
Sportsbooks with the best odds in Florida
Now that you’re acquainted with what odds are, how to read them, and how to use them to place your bets, you’ll need a place to start betting. Our list includes the sportsbooks that offer the best odds in the state of Florida.
This list includes reliable Florida sportsbooks that are licensed and registered by the state. As a result, you’ll have the largest array of betting and odds options with a multitude of sports to choose from! We’ll mention a snippet of it below, but make sure to check out our complete list today.
Best sportsbook odds in Florida
Choosing a sportsbook is no quick task. It would be best if you considered things like security, ease of deposits and payouts, betting markets, and website reliability. Here are some of our top Florida sports betting sites and their pros.
FOX Bet odds
Coming from a reputable organization with a long-standing history in sports, FOX Bet Florida offers excellent odds for all bettors. They have competitive pricing for the shopping bettor and great welcome offers for newbies. Take advantage of their $500 risk-free bet offer today if you’re new to their sportsbook.
BetRivers Florida hosts an appealing interface and an easy-to-use design. They offer stats and info for bettors to stay up-to-date on all upcoming games. They also host a nice array of deposit and withdrawal methods for users with different needs and accounts.
BetMGM Florida offers unique features, such as live betting, live streaming, and an early payout option. In addition, their customer support and site security are top-notch, so you’ll be sure to have assistance should you need any help with your account.
DraftKings Florida is one of the leading sportsbooks, displaying this through their vast user base. They even include fantasy betting options and prize money options from $1 to $1,000,000.
FanDuel Florida covers all major sports betting markets and has even partnered with big names like Fox Sports, Yahoo! Sports, and the NYT. Their sign-up process is simple, and they provide all your betting market needs.
How do betting odds work in Florida?
Betting odds are often live and can change throughout the game. They are decided through sportsbooks, also referred to as oddsmakers, and can vary depending on your use. In addition, odds are affected by things like the team’s record, popularity, and individual player details.
You need to be comfortable reading and understanding the odds and scores before betting a single dollar. Betting odds include symbols, numbers, and sometimes decimals. We’ll go through each step by step today.
American-style betting odds, also called “American Odds,” are what you will see while betting in Florida. All American odds typically include at least two numbers and symbols, which we will explain below.
As we get into more complicated betting types, you may see more numbers and symbols added in. But, don’t worry, we will break everything down to make it as easy as 1-2-3.
Pros and cons of odd in FL
Remember the symbols we mentioned in all odds? They are (+) and (-). In typical betting odds, you’ll see two sports teams mentioned, each with a symbol. This symbol will determine how likely the team is to win, and therefore how much or how little you can win.
The team with favorable odds (+) signals the underdog. The number next to it shows how much you can win for every $100 bet, should the underdog win the match.
The team with negative odds (-) is the betting favorite. This is because they are the apple of the public’s eye and are likely to win. Because of this, you’ll have to bet more than you would with the underdog to win the same payout.
Here’s a basic example of what NFL odds may look like for a game.
Tampa Bay Buccaneers-170
In this case, the Miami Dolphins are the underdogs, and the Bucs are the favorites. Of course, the Bucs are more likely to win, but you have a greater potential payout if you bet on the Dolphins and they win.
Odds and lines in betting odds FL
Odds and lines are sometimes used interchangeably, but lines are more specific. For example, lines describe the odds of one single event. On the other hand, Odds can be used to describe different bets and the probabilities of winning.
Lines are often set up for a match right after the participating teams’ previous matches. Even so, you’ll see them shift up until and throughout the game.
Sportsbooks set their lines precariously so that equal numbers of bettors will wager on both teams. This is how sportsbooks make their money, and it’s also how the bettors best enjoy the excitement of the competition.
But, of course, if 99 people bet on Team A and only one person bet on Team B, it wouldn’t be much fun, now, would it? Certain things that could change the betting line and odds include the weather, new player injuries, and public betting trends.
Calculating your FL payout
Once you know your odds, you can do some simple math to calculate how much money could make its way into your wallet. Depending on whether you’re betting on the underdog or the favorite, you’ll choose one of two formulas.
Let’s say you went with the Dolphins in our previous examples, AKA the negative odd underdogs. You decided to bet $10. You would use the following formula: bet times (odds/100) plus bet
Here it is with the numbers punched in: 10 x (150/100) + 10 = $25. This means you would have a $25 payout, which is a $15 profit from your original $10 bet. Now let’s say you bet the $10 on the Bucs instead. Instead, the formula for unfavorable odds would be: bet divided by (odds/-100) + bet.
Which betting markets are available in Florida?
The betting markets in Florida are the available bets you can make, including their odds. There are many to choose from, and each offers its pros and cons.
We always recommend starting with the most basic bets first, slowly working your way down our list to the more complicated ones. Greater risk, greater reward, but before all, you need greater knowledge for more fantastic wins!
Depending on which sport you’re betting on, moneylines may also be referred to as run lines or puck lines. No matter the reference, moneylines are straightforward and a great place for a new bettor to start wagering.
Moneylines include the most straightforward odds we learned about above. You will bet on which team you believe will win the game – either the underdog or the favorite. As we mentioned, you’ll need to bet more if you’re going for the favorite. The number you see next to the (-) in this case will be how much you’ll win if you bet $100.
Let’s look again at our initial example:
- Miami Dolphins+150
- Tampa Bay Buccaneers-170
For this Moneyline, if you bet $150 on the Dolphins and they won, you’d get a $250 payout ($150 original bet + 100$ profit). If instead, you bet $170 on the Bucs and they won, you’d get a $270 payout (170$ original bet + $100 profit). But, of course, if your team lost, you would also lose your bet, which is a more considerable loss if wagering on the favorite.
Point spreads are another novice betting favorite. It takes the Moneyline bet and spices it up with a spread. Here’s an example with NFL lines:
- Miami Dolphins+14.5 (-110)
- Tampa Bay Buccaneers-14.5 (-110)
The decimal number is the cutoff of how many points a team must win or lose by. For example, if you bet on a point spread for the Bucs, they need to win by at least 15 points. Contrarily, the Dolphins would have to win or lose by 14 or fewer points for you to get your payout. So in this example, both teams are offering -110 odds for payout.
Totals are also referred to as “over/under” bets. However, they are still on the simpler side of bets for those who are just dipping their toes into sports betting.
Oddsmakers will set a total cumulative point or run total for a particular match. The bettor will then wager on whether or not the actual total will be more or less than the oddsmakers.
Usually, totals are set with -110 odds, such as in the spread bet we saw above. Let’s say the total for the Dolphins v. Buccaneers game was set at 54.4 points. If you bet under the total, and the game finished 31-9 (equaling 40 points total), you would have won the bet. If you instead bet over, but the total score was 40, you would have lost.
In the unlikely event that the total score equals the oddsmaker’s total, bets would be refunded to all parties.
Once you’re comfortable with the aforementioned bets, you’ll be ready to step it up a notch and try out parlays. Parlay bets involve multiple games based on different bets. A bettor can try out Moneyline parlay bets, totals parlay wagers, and even point spread parlay bets.
Parlays offer greater payouts but higher risks. Every single one of your bets within the parlay must win for a payout. That means that if you bet on three of the Dolphins’ upcoming games but only get two outcomes right, you lose the whole parlay. If you win, on the other hand, you’re in for a sweet payout.
Parlay odds vary greatly depending on which games and sportsbooks you choose. Once you bet on a parlay, however, the odds and lines are cemented in. You won’t see them shift no matter what may arise.
Teasers are a branch of parlay bets that do not include moneylines. Bettors play a more prominent role in this betting market, as they can change the point spread or total within a set range. A good bettor will do this effectively to improve their chances of winning.
Whatever movement the bettor decides on, it must be done to each team in that parlay. This could be in either direction.
Let’s take a look at an example with a six-point teaser.
- Tampa Bay Buccaneers +3 (-110) at Miami Dolphins
- Miami Dolphins +3 (even) at Jacksonville Jaguars
The bettor could then decide on the six-point teaser on the underdogs, changing the point spreads to:
- Tampa Bay Buccaneers +9 at Miami Dolphins
- Miami Dolphins +9 at Jacksonville Jaguars
The bettor could also go the other way and bet the six-point teaser on the favorites, causing the following:
- Tampa Bay Buccaneers at Miami Dolphins +3
- Miami Dolphins at Jacksonville Jaguars +3
The number of teaser points varies depending on the sportsbook. Typically, if you tease a total of 6.5 or more points, the payout lessens. Different sports offer different teaser point options.
Futures bets are what they sound like – betting on future matches. These are often bets around championships, leagues, and season outcomes. The odds are set by the oddsmaker depending on the game.
One example would be betting on which team you think will make it to the Superbowl. Remember, in this case, the only important outcome is if your NFL team actually wins the Superbowl. Guessing the winner pre-season is quite the task, but the earlier you bet, the bigger the payout if you’re right!
FAQ’s About Florida betting odds
Are sports betting legal in Florida?
Yes, sports betting is now legal and regulated in the state of Florida.
What bets should I make in Florida?
If you are a new bettor, we recommend starting with Moneyline and totals bets. Then, once you gain experience, work your way into parlays, teasers, and futures.
What are betting odds and lines?
Betting odds are the probability that you will win your bet. Lines are the specific odds for a particular event or game.
How can I better understand betting odds?
Reading our guide above is the best place to start. Then, stay up-to-date through sports news networks and sportsbook news pages as you continue your betting career.
Which sportsbooks have the best odds in Florida?
Some of our favorite sportsbooks in Florida include FOX Bet, BetRivers, BetMGM, DraftKings, and FanDuel. Read our comprehensive list for more information on the sportsbooks that offer the best odds in the state of Florida.