How do FanDuel odds work?
FanDuel odds are numbers that tell you two things: the possibility of an outcome happening and your potential payout. They apply to traditional sports betting, esports, horse racing, and daily fantasy sports betting. You won’t find them when playing casino games. Instead, you will be dealing with RTPs and house edges, which is a completely different story.
Betting odds often change based on what happens during the event. However, once you have placed bets on specific lines, you lock in those odds. Your payout then depends on the odds you backed and your bet amount.
Generally, the higher the odds, the lower the possibility of the event occurring, and the higher your potential payout. It also applies in reverse — lower odds mean higher chances of that event happening, but a lower potential payout.
You can easily bet on these odds once you have an account on the sportsbook. To register, you need to be physically present in one of the FanDuel legal states and be of age to use sports betting sites.
How to read FanDuel odds
By default, FanDuel displays its odds in the American format. However, I soon learned that the platform also supports the decimal display. So, let me explain how to read them.
FanDuel American odds
Also known as moneyline odds, these numbers carry positive or negative signs. The positive sign is often attributed to the underdog and shows you how much you can win with a $100 bet. On the other hand, the negative sign indicates the favorite and tells you how much you have to bet to win $100.
For better illustration, consider the following:
| SEA Seahawks | -240 |
| NE Patriots | +198 |
In this case, you have to wager $240 on the Seahawks to win an extra $100, which brings the potential payout to $340 ($240 initial bet + $100). Meanwhile, a $100 bet on the Patriots gets you $198 if the wager is successful. That means the potential payout is $298 if you back the Patriots.
FanDuel decimal odds
These lines appear as decimals and are much simpler to read. They show you the total potential payout, not the extra winnings with your bet. We are going to be using the same example above, but this time, the odds will be displayed in the decimal format:
| SEA Seahawks | 1.42 |
| NE Patriots | 2.98 |
Decimal odds act as multipliers. If you bet $100 on the Seahawks, you can expect a payout of $142 ($100 x 1.42) if the bet wins. Assuming the wager amount is $240 instead of $100, your potential payout becomes $340.8. Likewise, if you bet $100 on the Patriots, the overall potential return is $298 ($100 x 2.98).
How to change odds format on FanDuel
I noticed that you can change the odds format only when you are logged into the sportsbook. In other words, you need an active account on the platform.
As I already stated, creating one is possible if you meet the FanDuel age requirement and stay in any of the states where the brand operates. Once you’re registered on the platform, you can switch the odds display by following these steps:
- Open the official website on your device and log in to your account.
- Navigate to your account section.
- Scroll down and click “Preferences."
- Pick American or decimal odds.
Understanding how the “vig" and “payout" relate to FanDuel odds
When dealing with FanDuel odds, you need to understand the terms vig and payout. The vigorish, also known as juice or margin, is the commission that the betting brand charges for its services. This ensures that the operator makes a profit regardless of how your bets turn out.
Consider the following NFL spread:
- Team A -3 at -110
- Team B +3 at -110
If the book had no vig, each side in a 50/50 market would be even odds (about +100), so you’d bet $100 to win $100 on either team. Instead, both sides are -110, so you must bet $110 to win $100, which means FanDuel is keeping a small built-in edge in the price (their commission). In this case, the juice is approximately 4.7%, which means that your potential payout is 95.3%.
I prefer betting sites with margins below 8%. FanDuel does a good job in this regard. For the most popular US leagues, it keeps its margins at 7% and below. There was a good number of football markets with vigorish of around 4%. The rate was slightly higher for esports, at around 7.5%.
Factors that affect the odds on FanDuel
Here is an overview of the major factors that affect FanDuel’s odds:
| Factor | Description |
|---|---|
| Team performance | The operator evaluated the past and recent performances of participating teams to determine how they will fare in upcoming games. |
| Injuries or lineup changes | If a star player is hurt or changed during the last minute, the odds can shift dramatically. |
| External factors | For games like golf and tennis, the operator always factors in external elements like the venue, field surface, and weather. |
Tips to get the most from FanDuel odds
Below are my go-to tips for betting on FanDuel:
Bet early on key markets
Lines that are set weeks before an event are sometimes better than what you get as the game draws closer. The best approach is to research on your own to determine the winning team or player. Then, lock in those odds before they get higher vigs.
You can easily do this when you have funds in your betting account. Thankfully, there are multiple payment methods you can use to deposit, including Play+, which I refer to as the FanDuel gift card.
Place live bets if you can
Through live betting, I take advantage of those small changes that offer better odds. The catch is that these odds might appear briefly. As such, you must be following the ongoing game closely while watching the changes on the platform.
Take advantage of odds boosts and other promotions
When you register on the platform for the first time, you can claim the FanDuel new user promo available in your state. However, the betting brand offers more than that. You can look forward to limited-time promotions, some of which are odds boosts on certain markets. You can bet on such markets to get better payouts if you win.
Hits and misses of FanDuel odds
FanDuel odds get a high rating in my books, so it’s no surprise that it has more pros than cons. Still, there is one significant drawback to note, especially if you bet on esports. Below is a summary of the pros and cons of FanDuel odds:
Pros
- Lower juice on big leagues
- Available in American and decimal formats
- Occasional boosts
Cons
- Lower potential payouts for most esports
Bet on competitive odds at FanDuel
Now that I have explained how FanDuel’s odds work, you know how to read the lines when you visit the sportsbook. Remember that the default display is the American format, but you can easily change it to decimal if you prefer. Whatever display format you like, FanDuel’s odds remain competitive when compared to other industry giants.
In addition to decent odds, FanDuel brings you hundreds of daily markets for conventional sports, esports, horse racing, and daily fantasy sports. So, if you are looking for a gambling platform with competitive lines and extensive coverage, consider using FanDuel. You can click on the brand’s link on this page to visit the official site and register.
