Millions of dollars change hands by gambling with every boxing match, big or small.
If you want to get in on the action, you need to know these basics of boxing odds and betting!
Keep reading for a simple explanation of boxing odds and betting!
How Are Boxing Odds Calculated?
Boxing experts and bookmakers calculate a fight’s odds using a large number of factors, including:
- Age difference
- Current injuries
- Current record
- Boxing style
- Knockout rate
- History against similar fighters
Since each bookmaker weighs each factor differently and calculates his own odds, there are multiple odds for any given fight. However, at fight time, these odds tend to average out and arrive at a single value.
What most people are used to seeing in boxing are the money line odds. At first, boxing odds and betting are confusing to read, but it’s easy once you get used to it.
For example, for Terence Crawford (-150) vs Errol Spence Jr (+125), remember that:
- (+) indicates the underdog, while (-) indicates the favorite.
- -150 means that you must bet $150 on the favorite to win $100.
- +125 means that you’ll win $125 for every $100 you bet on the underdog.
Since most money is wagered closer to and on the fight date, these odds can change drastically. During the fight, as new information and new bets come in, the odds will continue to change.
Even if you decide not to gamble, the money line odds are a reliable indicator of what you should expect out of a fight.
How To Convert Odds To Percentages
To convert negative odds for the favorite to percentages, follow these simple steps:
- First, take your odds as the first number.
- Next, take your odds + 100 as the second number.
- Next, divide the first number by the second number.
- Lastly, multiply the decimal by 100.
For Crawford (-150):
- Take your odds as the first number (150).
- Take your odds + 100 as the second number (150 + 100 = 250).
- Divide the first number by the second number (150 / 250 = 0.6).
- Multiply the decimal by 100 (0.6 x 100 = 60% chance of winning).
To convert positive odds for the underdog to percentages, follow these simple steps:
- First, take 100 as your first number.
- Next, take your odds + 100 as the second number.
- Next, divide the first number by the second number.
- Lastly, multiply the decimal by 100.
For Spence (+125),
- Take 100 as your first number.
- Take your odds + 100 as the second number (225).
- Divide the first number by the second number (100 / 225 = 0.44).
- Multiply the decimal by 100 (0.44 x 100 = 44% chance of winning).
What Are The Different Kinds Of Boxing Bets?
Money Line
The money line bet is the most popular in boxing and it represents who will be the outright winner of the match.
Most of the time the favorite wins, but this only gives small payouts. An underdog winning is less likely, but gives higher payouts.
For most people, betting on the favorite is not worth it for small sums. Betting on -500 odds means you have to bet $500 to win $100.
On the other hand, the money line bet can be profitable if you choose the right underdog. Doing so requires you to do research on both boxers and see if the underdog has an overlooked advantage or if the favorite has an exaggerated advantage.
Over-Under
The over-under bet represents the total number of rounds a fight will last.
- Over 8.5 (-240): you win the bet if the fight passes the halfway point of the 9th round.
- Under 8.5 (+180): you win the bet if the fight is finished before the halfway point of the 9th round.
It’s important to note that 8.5 in an over-under bet means that the cutoff point is eight and a half rounds of boxing completed, so halfway through the 9th round.
Many new bettors think that 8.5 means halfway through the 8th round, which is seven and half rounds of boxing completed.
This kind of bet is best for fights with boxers that have great defense and stamina, as you can be sure that they will last long in the ring. On the other hand, this bet isn’t good for boxers who have a reputation for knocking out their opponents early in the fight.
Parlay Bet
The parlay bet is a combination of individual bets. To win this bet, you have to win all of your individual bets.
With more bets, your odds become larger, but it becomes more difficult to win.
This kind of bet is for the people who want extra excitement or want to maximize profit. Parlaying favorites can make small odds worthwhile, while parlaying underdogs can result in a huge payout if you choose correctly.
Prop Bet
The prop (proposition) bet is tied to a unique aspect of the fight, other than the fight’s winner or length.
For example, you can bet on whether a boxer will have a point deducted or on the first boxer to land a punch.
This kind of bet is best if you are more familiar with boxing. From the example above, if you know a boxer likes to clinch and that the referee is overactive, then you can make a prop bet that a boxer will have a point deducted.
Where To Bet On Boxing
In the beginning of boxing, you had to find a local bookmaker (bookie) or go to the event in person to place your bet.
Nowadays, most people bet on boxing fights from the comfort of their own home with the Internet! Even when the fight is ongoing you can still place a bet easily on your phone without missing any of the action.
Keep in mind that betting on boxing is not legal in every state in the United States. You have to reside in a state where online gambling is legal and be pre-approved for gambling.