So what is that -110 number? Operators will offer American odds, which list what you stand to profit based on either a $100 wager or to win $100, depending on which side of the bet you are on. While that does not seem like much, over the course of the year, that can add up. Sometimes a sportsbook will reduce the juice to -105 to stimulate more action. If betting action is roughly equal, then the sites profit from the 'juice' or 'vig.' Typical odds on an 'even money' bet are -110, which means a bettor must wager $110 to win $100 in return. There are a ton of different kinds of odds, which we will discuss in a bit.īetting sites, including, but not limited to, DraftKings Illinois, BetMGM, and Unibet Sports IL, set odds to stimulate action on both sides of the bet. Oddsmakers employed by the sportsbooks set betting lines on games and events within games. Bettors will have countless wagers available, including moneylines, spreads, over/unders, futures and props.

How Do Betting Odds Work?īefore venturing into sports betting in Illinois, it's important to understand how Illinois sportsbooks and apps operate. Read on to learn about the different options available to you and the best sites that offer online sports betting in the state.

Online betting odds and lines