Big betting odds
We're assuming here that you're aware of the very basics, and thus can place a moneyline wager. However, the next step in your wagering career is the point spread bet. When you master the point spread bet, you'll be able to become a real handicapper and attain great profits. How to get started with point spread betting When you're into the NFL or the NBA, it's a wise decision to get familiar with point spread bets. It's by far the most popular form of betting. Here, we're going beyond betting on which team will win the game.
Instead, we have to determine what is the likely margin of victory, so a lot of factors need to be considered to arrive at an informed decision. Since you usually have a clear favorite and a clear underdog in any matchup, the point spread was created by Charles McNeil an ex-math teacher-turned-bookmaker before World War II as a means to level the playing field, and induce more money to be wagered on the games.
Instead of wagering on which team wins, you're wagering on the margin of victory. When we dive into the numbers, everything will become more evident. Reading betting odds and understanding the point spread payout The best way to illustrate the way point spreads work is to use an example.
It's an exciting match with the Spurs being the favored team. The bookmaker assigns points to both teams, giving the bettors the following betting lines: San Antonio Spurs In this example, the Spurs are the favorite, and need to win the game by more than 7. The Lakers, on the other hand, are the underdog, and would have to win outright, or not lose by more than 7.
The second number alongside each team are the betting odds. You'll find these associated with any wager type. But unlike a moneyline wager, they are much closer to each other in a point spread bet. That's a lot of money to risk for many bettors, so a point spread might be a better alternative. Most sportsbooks have standard odds for football and basketball games. But some, like our 1-rated sportsbook, BetAnySports , offer reduced juice, which is a huge benefit for gamblers.
Then, the two teams in a football or basketball game would have odds of just Half-points As you can see in the example above, the point spread numbers carry a half-point rather than a round number. Bookies came up with this to more easily balance their books, so they can have equal action on both sides, and earn their vigorish with less risk. When a wager ends in a tie, bettors get a refund of their stake, as no team covers the spread.
The reason for this is because football and basketball are the most popular sports for the point spread bet. Nevertheless, you can bet against the spread in hockey, baseball and soccer, as well -- but because there is a lot less scoring, most bettors in those sports still favor betting on the moneyline. This allows bettors to wager on baseball, hockey and soccer without having to deal with games of or higher odds.
How to use point spreads in your sports betting strategy As you can see, with a little research, and a little experience, point spread betting can be easily mastered. It's the most popular form of wagering for a reason. Now, with anything popular, there comes a lot of competition. Of course, you're betting against the house, but every bettor has the opportunity to do as much research as he wants to gain an edge. We've been at this for a long time, and have gained tons of experience over the years.
To give you a headstart over other bettors, we're sharing some of these lessons with you. Use line movement to your advantage The moment a sportsbook publishes the betting lines for any matchup, bettors can start wagering.
Bear in mind that not every sportsbook will publish its initial odds at the same time. Some, like BetOnline , BetAnySports , or BookMaker , are extremely early in their publication, while others will come to market later, after the early odds have been bet into, and settled a bit. Sharp bettors will have accounts at many of the early books. If you notice a soft line, you can get down before it moves. The difference between the odds for the favorite and the underdog widens as the probability of winning for the favorite increases.
In this matchup, there is a big difference between the two odds, indicating a much higher probability of the Chiefs winning the game. What Are 7 to 2 Odds? With fractional odds, the number on the left expresses how much you win, while the number on the right reveals how much you need to stake.
You stand to make more money on positive odds, but the chances of a win are lower. What Are Vegas Odds? Vegas odds are used in sportsbooks. American money lines are used and include a point spread and total number of points the bookmaker thinks will be scored. This allows bettors to bet over or under the bookmaker's score, and indicate what they believe the difference in points will be.
The Bottom Line If you are planning to enter the betting world, it is important to be able to understand and interpret all types of odds well. You need to be familiar with the conversions between the different formats of odds, the conversion of odds into implied probabilities, and the differences between the true chances of an outcome, as well as the odds on display.
Only then can you place a well-educated bet. If you or someone you know has a gambling disorder, please call the National Problem Gambling Helpline at , or visit ncpgambling. Article Sources Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate.
You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
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If it says Steelers Under 8, this means you'll have to bet the specified amount and the overall score has to be lower than 8. Over Under Betting comprehensive guide. How Do Odds Work? Basically, odds represent the favorable outcome in a game. This can be who wins, what events will happen, or combined point amounts. The three main types of odds are British, European, and American. With that said, though, it's important to know that the type of bet differs but the payouts do not.
Our recent guide about the best sports trading cards ever. Sportsbook Online Sportsbooks online are available in most U. Not only do they have tons of sports, but they also have so many different bets that you can place. It's important to make sure it's legal in your state, though, so you don't get into any trouble. Calculating Betting Odds Sportsbooks calculate odds by putting the amount that will need to be paid out to the amount of money that all bettors have paid.
The sportsbooks try to keep both sides as even as possible. Not only will this save them from losing a bunch of money, but it guarantees that anyone who wins can be paid. Sports Odds Explained: American Odds Take a look below to learn more about American odds and get a better understanding of them.
If the odds have a plus, that means you'll win that amount of money if you win the wager. For example, let's say the odds are Read and learn more how to bet on NFL Football. This is how sportsbooks discourage bettors from betting a large amount on the favorite. For example, let's say the Browns are in the Super Bowl and they're projected to win and they have odds of On the other hand, this juice or vig could also encourage bettors to bet more if the plus side is higher.
It's not super hard to understand but you'll want to make sure you're looking at the odds correctly to ensure you're not going to lose a bunch of money! Round Robin Betting Guide. American Odds are also known as moneyline bets. With this betting type, you'll see odds that have a plus sign or minus sign.
The team that isn't favored to win has a minus sign and the favorite has a plus sign. The next thing we'll do is show you how to read these odds. It's relatively easy to understand and you just have to remember what the plus and minus signs mean.
Calculating Payouts The way that odds are calculated will depend on the type of bet being placed. There are three main types of bets, which are moneyline, decimal odds, and fractional odds. Moneyline odds are the plus and minus bets that we talked about earlier, so we're going to focus on decimal and fractional odds in this section. Decimal odds are most commonly in Europe, Australia, and Canada.
They are the easiest to understand and are relatively straightforward. They are usually just one number that goes to two decimal spaces. Spread Betting Guide from Lines. For example, you might see that the Browns have decimal odds of 1. Fractional odds are most common in the United Kingdom and is the betting type that can be a little difficult to understand. To calculate the potential amount you could win, you have to make sure you add in your original wager.
This fraction means that you can win three stakes for every one stake. This means you'll get six stakes for every four stakes wagered. These fractions are also called odds against and are similar to the plus number in a Moneyline bet. Once you know what it equals out to, you'll be able to calculate using the method above. Calculating Implied Probability Implied probability can be a little difficult to understand and it takes some math to figure things out. We're going to look at all three betting types and try to break everything down.
Implied probability is when the odds are converted into a percentage. It's important to know how to calculate these to increase your wins and cut down on losses. Prop Betting Explained for the beginners. Player A has decimal odds of 4. Take advantage of the football tips and bet when you are in the best position. They perform well in some football leagues in a period of time Every betting system, strategy or investment will have its ups and downs.
Take advantage while it is on the up and stay away while it is dropping. Take advantage of the info you receive from smart punter Since smart or sharp punter places their bet with Asia bookies and a few sharp bookmakers. Their odds will drop once they accepted the smart punter bet. You can use the info to place your bet on soft bookmakers who are slow to adjust their odds.
The opposite side of this is that betting with the public has a poor track record. Human nature being what it is, we are born to follow the herd. Contrarian investing is hard and this is why it is lucrative. People which can find niche in the market get their reward. Below are some Guide for contrarian betting 1. Even some bookmakers provide that to their members. Will you provide your secret weapon to your enemy if you think they can use it against you?
Buy when everyone want to sell and sell when everyone want to buy. Beside smart punters This is where you find your value to bet on.
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