On June 5, 2018, Delaware became the second state after Nevada to implement full-scale sports betting. Sports betting in the state is run by the Delaware Lottery and is available at the state's three casinos. Prior to 2018, the state offered limited sports betting consisting of parlay betting on NFL games. Delaware had been granted a partial exemption from the sports betting ban as it had made a failed attempt at legalized sports betting in 1976.
There are very few periods of time throughout the year when there isn't a game or event that is garnering national media attention and bettors are clamoring to lay down a wager. Off the top of my head, the only period I can think of is during the MLB All-Star break, where it's slim pickings to lay down a wager. Sure, the Home Run Derby and All-Star game are closely watched and people do bet on them, but it's done more so to have a little action on the game to make it semi-watchable. However, the rest of the year is littered with massive, high-stakes, high-drama type events. These are what the industry called "hot games" Read More >>
Using an online sports betting site is far and away the best way to bet on football, or any sport for that matter. It's the most convenient and accessible option, and there are several other advantages too. Best of all, it's legal in the United States. There are some laws against online gambling in the US, but these mostly apply to companies and individuals providing gambling services. There's no law that states it's illegal to use a gambling site of any kind, so Americans are at liberty to place football bets online if they so choose. We've written the following page explaining things in more detail for those interested, or you can just keep reading for a quick guide to getting started online.
Remember that betting on NFL games with an online sportsbook or offline is not legal in all jurisdictions. So if you are planning on using FootballLOCKS.com's NFL selections to gamble on various NFL games, such as betting the NFL Super Bowl spread with an online NFL sportsbook, it might be wise to check if NFL gambling is legal in your specific jurisdiction.
The negative (-) sign indicates that the Cowboys are the favorites, while the positive (+) sign indicates that the New York Giants are the underdogs. With the spread set at 2.5 points, a bet on the Cowboys would mean that they would have to win by more than 2.5 points (3 or more) in order for you to win that bet. A bet on New York would mean that the Giants would have to either lose by 2.5 or less points (2 or less) or win the game outright in order for your bet to win.
It's also important to consider whether or not there's any correlation between the point spread and the betting total. If they are, a parlay wager is a good way to get maximum value. For example, a college football point spread +24.5 parlayed with under 48 points in the same game might be a great parlay bet. If the +24.5 team covers the point spread, then there's an increased chance that the game also goes under the posted total of 48.
The optimal situation for bookmakers is to set odds that will attract an equal amount of money on both sides, thus limiting their exposure to any one particular result. To further explain, consider two people make a bet on each side of a game without a bookmaker. Each risks $110, meaning there is $220 to be won. The winner of that bet will receive all $220. However, if he had made that $110 bet through a bookmaker he would have only won $100 because of the vig. In a perfect world if all bookmaker action was balanced, they would be guaranteed a nice profit because of the vig.
Now for American Style Sports Odds. Typically, when you are betting on the point spread, as in topic #1 above, the odds are displayed or implied to be (-110), which is known as American Style odds. The American Style odds format is based on $100. When the number, is displayed as a negative number (-110), it indicates how much money you must risk to realize a profit of $100. In our scenario, you must wager $110 to win $100 profit. If you do, you will receive $210 when you cash in…the winning amount PLUS your initial wager amount.
Another form of futures betting involves the over/under on the number of games a particular team will win in the regular season. This type of wager is typically found on pro football and major league baseball, and sometimes on pro basketball. For example, the over/under on the Yankees may be 93 wins. If the Yankees go on to win 94 or more games, the "over" is a winner. If they win 92 or fewer games, the "under" is a winner. If they win exactly 93, the bet is a push and tickets are refunded.
Cash Out. Cash Out lets you take profit early if your bet is coming in, or get some of your stake back if your bet is going against you—all before the event you’re betting on is over. Cash Out offers are made in real time on your current bets, based on live market prices. Whenever you are ready to Cash Out, simply hit the yellow button. Cash out is available on singles and multiples, on a wide range of sports, including American football, tennis, horse racing, basketball, and many more! You can Cash Out of bets pre-play, in-play, and between legs.
Major League Soccer (MLS) the top soccer league in the United States and Canada has expressed sports betting as a possible way to gain popularity. Commissioner Don Garber has stated about sports gambling, " We have a project going on now to really dig in deeply and understand it. I’ll join the chorus of saying it’s time to bring it out of the dark ages. We’re doing what we can to figure out how to manage that effectively."
However, there are some good values with teaser bets if you know how and where to find them. For instance, the six-point teaser is an especially effective bet in the NFL, where most games are tightly contested and six points can make a world of difference. For instance, in our previous example, the Bears would go from laying six points to simply needing to win if you put them on a teaser bet. Conversely, Detroit backers could get 12 points instead of the starting six. (Source: Doc's Sports Service)
Many people will say that the odds on a spread bet are even, paying 1:1. But this is not true. The actual odds are 0.90:1. For every dollar bet, you can win 90 cents. When checking out the spread, you’ll usually see a number listed next to each spread. That number, which is your stake, is posted as -110. This number tells you how much you have to bet to win $100. If you put $110 on either team, you stand to win $100. If you bet $11.00, you can win $10.00. Every NFL point spread works this way.
The odds given on the spread are usually -110 unless otherwise noted. It is not uncommon to see one side of the spread being -105, with the other side being -115. If you don’t see any odds listed for each side of NFL spreads you are supposed to assume the odds are -110 on each. Not sure how to read NFL betting odds? Check out our Sports Betting Odds guide.
You may have heard the term “covering the spread” or the phrase “betting against the spread.” This means that if the favorite team wins an event with the point spread taken into account or that the underdog team wins with additional points, they have covered the spread. If the Packers win that game by more than 7 points, they have covered the spread.
According to an article in The Times dated 10 April 2009, approximately 30,000 spread bet accounts were opened in the previous year, and that the largest study of gambling in the UK on behalf of the Gambling Commission found that serious problems developed in almost 15% of spread betters compared to 1% of other gambling. A report from Cass Business School found that only 1 in 5 gamblers ends up a winner. As noted in the report, this corresponds to the same ratio of successful gamblers in regular trading. Evidence from spread betting firms themselves actually put this closer to being 1 in 10 traders as being profitable, with a high number of clients suffering from the volatility that is supposed to be one of the benefits of spread betting.
The level of the gambler’s profit or loss will be determined by the stake size selected for the bet, multiplied by the number of unit points above or below the gambler’s bet level. This reflects the fundamental difference between sports spread betting and fixed odds sports betting in that both the level of winnings and level of losses are not fixed and can end up being many multiples of the original stake size selected.
For example, in a cricket match a sports spread betting firm may list the spread of a team’s predicted runs at 340 – 350. The gambler can elect to ‘buy’ at 350 if they think the team will score more than 350 runs in total, or sell at 340 if they think the team will score less than 340. If the gambler elects to buy at 350 and the team scores 400 runs in total, the gambler will have won 50 unit points multiplied by their initial stake. But if the team only scores 300 runs then the gambler will have lost 50 unit points multiplied by their initial stake.