Maryland sports betting odds can be confusing. With MD opening up to the sports betting market, more sports fans are upping the ante with a wager—but how do you know if you’re doing it right? In this article, we’ll show you how to read odds at any MD sports betting site. Then, we’ll look at the different bets you can make, how to use them, and what to watch for.
- Best sportsbooks with Sports betting odds in MD 2024
- Sports betting odds Maryland 101 2024
- How to read Maryland sports betting odds
- How to use MD betting odds to calculate your payouts – MD
- When betting odds change at Maryland sportsbooks
- Maryland sportsbooks with the best odds 2024
- Understanding Maryland betting lines
- A summary of sports betting odds Maryland
- FAQs on Maryland betting odds
Best sportsbooks with Sports betting odds in MD 2024
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Sports betting odds Maryland 101 2024
Odds is one of the most commonly used terms when it comes to betting on sports in Maryland. So what does it mean? Odds represent the likelihood of a team or athlete winning—or of a specific event taking place. Odds are also used to work out the payout on your winning bets.
If you don’t follow so far, don’t worry. We’ll go over it shortly—and let you know how odds work and how to calculate a payout. Let’s go.
How to read Maryland sports betting odds
Heads up: We’re explaining American odds. All Maryland online gambling sites, list their odds in American odds, so focusing on these makes the most sense. You’ve also got decimal odds, which we’ll touch on quickly.
Here’s an example:
Odds are listed on your preferred MD sports betting site as
- Kansas City Chiefs +120
- Baltimore Ravens-140
You’ve got two key components of the odds here.
The – or + sign in MD sports betting
This tells sports bettors whether their team is the favorite (a – sign) or the underdog (a + sign).
A – sign signifies that this is the more likely outcome. It also signals that your payout on a winning bet would be less than the amount you wagered. On the other side of this coin, a + sign signified that this is not the likely outcome. Also, your winning bet would pay out more than your wager amount.
Negative number in MD betting odds
In the above example, we can now see that a winning wager on our home team would net us less than our wager amount. But how much less?
-140 shows us that we would need to wager $140 in order to win $100. So if you bet $100 on the Ravens for a win, and you call it right, you’ll pocket your wager amount ($100) plus an additional $71 based on those odds—for a total of $171.
Positive number in sports betting MD
Let’s say that given the above example, you place your wager on the underdog. The odds are +120, which means that if you wager $100 on a winning bet, you’ll pocket $120. So, for a $100 bet, you walk away with $220. Not too bad, right?
A word on decimal style odds
Decimal style odds are—true to their name—styled as a decimal number. Thus, they represent the total payout per $1 wagered. We don’t use them at any of the licensed Maryland sports betting sites, but you’re likely to find them in parts of Europe and the UK.
Going back to our example above, decimal style odds would look like this:
- Kansas City Chiefs 2.20
- Baltimore Ravens 1.71
A quick tip: American odds represent the profit on a wager. Decimal style odds represent the payout.
How to use MD betting odds to calculate your payouts – MD
The beauty of online sports betting in Maryland is that your payout will automatically be calculated for you every time you place a wager. In case you’re curious, though, here is a quick lesson on calculating your payout on a winning wager. We’re going to use the same example as we did before (KC Chiefs +120 Ravens -140).
To calculate the payout on positive MD betting odds, we use:
Wager x (odds / 100) + wager = payout (less any fees, of course)
For our example, we’re wagering $100 on KC:
100 x (120 / 100) + 100 = 220
To calculate the payout on negative MD betting odds, we use:
Wager / (odds / -100) + wager = payout
For our example, we’re wagering $100 on MD:
100 / (-140 / -100) + 100 = 171 +/-
When betting odds change at Maryland sportsbooks
MD sports betting sites start building out their lines for a game almost as soon as the whistle blows on the last game. The goal for oddsmakers is to get in quick and get their MD betting lines out to you—the sports fans.
By setting lines so quickly, we need to understand that the odds—and even the lines themselves—aren’t set in stone. There will be changes—and some of them are pretty drastic.
Let’s say the lines at your Maryland sports betting site are set on a Monday. Then, on Wednesday, news hits that a starting player on your team has sustained an injury. The odds might change. On Thursday, the weather forecast is calling for heavy rain and gale-force winds on game day. The odds might change again.
Finally, how you bet can influence the odds.
An example of how bets change the odds
Ok, here’s our example again:
- Kansas City Chiefs +120
- Baltimore Ravens -140
These are the original odds. The Ravens are the Moneyline favorites to win.
Let’s say your chosen MD sportsbook sees heavy early betting in favor of the Ravens. Regardless of the odds, fans are betting heavily for the favorites—so oddsmakers adjust the line.
Now, the odds are:
- Kansas City Chiefs +150
- Baltimore Ravens -180
This might do the trick to dissuade amateur bettors away from an MD wager.
Maryland sportsbooks with the best odds 2024
When it comes to shopping the odds, the key is to shop smart. Check across your Maryland sports betting sites to see which one will give you the most bang for your betting buck. If you can get an added bonus or daily odds boost at the same time—great!
Here are five licensed Maryland betting sites that offer quality odds on a consistent basis. Choose one to watch—or add a few to your starting lineup.
BetMGM sports betting odds
They’ve scored a lucrative partnership with Maryland’s Gila River Indian Community, they offer fast verification and swift payouts, and they offer an extensive menu of dynamic odds on all major US sports. TwinSpires might have a reputation for offering the strongest Kentucky Derby odds, but we’d put BetMGM MD close behind.
PointsBet for futures odds
With a retail location at Cliff Castle Casino, PointsBet Maryland has earned a reputation for stellar World Series MLB futures odds. They also keep their competitive edge with NFL odds and NBA odds. PointsBet’s strong betting menu easily keeps them in our top 5 for Maryland betting odds.
DraftKings online gambling odds
Always an online sports betting site favorite—and now partnered with Maryland’s stadium course, TPC Scottsdale. You can expect top PGA and Masters odds from DraftKings MD, as well as an extensive menu of NBA and NFL betting lines.
William Hill online sports gambling odds
Caesar’s-owned William Hill MD knows how to please its people. Teamed up with the Ak-Chin Indian Community, they’ve even got a VIP lounge at State Farm Stadium and Chase Park. If you’re not in it for the retail luxury, though—you’ll still walk away from a fan, with top-tier NFL point spreads and some killer NFL lines and odds. Take a look at our guide of the emperor of MD sports betting apps at the Caesars Sportsbook Maryland review.
Last but absolutely not least. FanDuel Maryland has a reputation for offering strong betting odds across the board, but we’re especially big fans of their NBA odds and lines and what they offer on Super Bowl odds AZ and futures.
Understanding Maryland betting lines
So far, we’ve shown you how to read betting odds in Maryland and how to calculate your potential payout off those figures. You also know our top 5 sportsbook picks for outstanding odds. But what are you actually going to bet on? Here, we’re explaining the different betting lines for you.
We’ve been using the example of MD Moneyline betting throughout this betting odds guide. The goal: correctly choose who wins the game. As we’ve established, betting on the underdog is more lucrative but riskier. On the other hand, betting on the favorite is less risky and also pays out a smaller amount.
Added extras: you can also check the lines menu for the first 5 innings in MLB and the first half in NBA and NFL matchups.
#2. Point spreads, puck lines, and run lines
In football and basketball, it’s a point spread. When betting on hockey, it’s a puck line. In baseball, it’s a run line. So whatever sport you’re watching, this is a handicap bet based on a 1.5 point spread.
It’s more specific than a Moneyline bet because you are wagering on your chosen team’s margin of victory when you bet the points spread in MD.
#3. Over / Under (Totals)
Overs and unders in MD are based on a total number of points in a game. So you place your wager on whether the total number of runs (across both teams) will be over or under the oddsmakers’ figure.
You should know: Totals are usually set as a number .5. For example, -12.5. This avoids a tie game, which would result in sports bettors getting a refund.
A parlay bet in MD is a way to add even more spice to your online sports betting. Instead of betting the Moneyline on one game—you place one wager across multiple games. If you call each game correctly, you’re in the money. Get one wrong, though, and you get nothing.
Your first pick is Maryland (-200), your second is the Yankees (+140). You wager $100 on the parlay, and Maryland wins. Your potential payout of $150 is parlayed into the second match as a wager amount. The Yankees win, turning your initial $100 into a $360 payout.
Again, though—if either of your picks had lost, you’d walk away empty-handed.
#5. Futures odds betting
Futures’ odds in Maryland can be known as odds to win in MLB betting circles. It means what it looks like: you’re betting on something that will happen in the future. The odds are dynamic.
Give me an example: the World Series in baseball, the NFL Super Bowl, and the NBA Finals.
#6. Prop bets
The Proposition bets are a fun side bet to keep your head in the game—and a great way to specialize as a niche sports bettor. Of course, you’re only betting on isolated outcomes and certain elements of the game—like which team will score first when the Washington Wizards meet the Lakers or who will score the first touchdown in the Raven’s first game of the season.
#7. Live betting in Maryland
If your sportsbook of choice offers live betting in Maryland, you’re in for a rush. Think quick, know your stats, and you’ll be able to place wagers as you watch the game. Lightning-fast updates and a fast pace make this an experience to remember.
A summary of sports betting odds Maryland
Now you’ve got all the info you need to analyze Maryland betting odds and get yourself in the running for a win.
Remember to shop around for the best odds for the bet you want to make. (As luck would have it, we’ve learned about betting lines today, too!) Good odds give you an opportunity to boost your bankroll at an online MD sportsbook, and they can make a difference of tens, hundreds, even thousands of dollars at the end of the year.
FAQs on Maryland betting odds
Handicapping is how you predict a game’s outcome, using current and historical stats, weather conditions, injuries, etc. The more serious you are about sports betting, the more likely you are to use advanced handicapping.
Odds can be shown in any format, but the universal method here in the US is American odds. That’s because Maryland bettors are all based in, well, America.
In a nutshell: no. But it can help you avoid costly mistakes and help you gain some decent profits.
Every sportsbook in MD has its own teams to handicap matches and calculate odds. They are experts in their fields, but they also use Vegas betting odds as a benchmark.