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.
In the United States, it was previously illegal under the Professional and Amateur Sports Protection Act of 1992 for states to authorize legal sports betting, hence making it effectively illegal. The states of Delaware, Montana, Nevada, and Oregon—which had pre-existing sports lotteries and sports betting frameworks, were grandfathered and exempted from the effects of the Act.
In Asian betting markets, other frequently used formats for expressing odds include Hong Kong, Malaysian, and Indonesian-style odds formats. Odds are also quite often expressed in terms of implied probability, which corresponds to the probability with which the event in question would need to occur for the bet to be a break-even proposition (on the average).
A teaser is a bet that alters the spread in the gambler's favor by a predetermined margin – in American football the teaser margin is often six points. For example, if the line is 3.5 points and bettors want to place a teaser bet on the underdog, they take 9.5 points instead; a teaser bet on the favorite would mean that the gambler takes 2.5 points instead of having to give the 3.5. In return for the additional points, the payout if the gambler wins is less than even money, or the gambler must wager on more than one event and both events must win. In this way it is very similar to a parlay. At some establishments, the "reverse teaser" also exists, which alters the spread against the gambler, who gets paid at more than evens if the bet wins.
Although the odds on a spread bet are often listed as being even at 1:1, the fact is they are 0.90:1, which is a bit less than even. How does this work? Often in the point spread you’ll see next to each spread number -110. This tells you how much you have to wager to make $100. Thus, with the point spread -100 will always be listed, which means if someone wagers $110, they will make a $100 profit if they win. (If betting $11.00, the payout would be $10.00)
There is no such thing as a half point in sports, but there is in sports betting! The half point ensures that a side will win and that the match will not end in a push, where the spread equals the actual difference in points between the two teams. In a push all bettors get their money back, which is no good for the oddsmaker! Half points also give oddsmakers more control over lines, allowing them to set more specific values.
As you can see, there’s another number in our example above. The –110 in parentheses refers to the juice; this figure is expressed in the same fashion as moneyline odds, with either a negative or positive sign in front of the number. In this case, in order to place a wager on either side, you would have bet $110 to win $100. If the juice on Kansas City had been +110, you would have bet $100 to win $110. Most NFL game lines ask you to pay the standard –110 vigorish. If you don’t see any particular figure attached to the spread, the usual –110 vig applies.
In this example the Jets are listed as four-point favorites (-4) over the Bills and the 49ers are three-point underdogs (+3) against the Seahawks. So, if you bet $110 on the favored Jets, they must defeat the Bills by more than four points in order to win $100. If you bet $110 on the underdog 49ers you will win $100 if they win outright or lose by less than the three-point spread. If the final score happens to end up exactly on the number it's a tie, or 'push,' and you get your money back.
If you've ever found yourself cursing the game line or completely dumbfounded at how a basketball total from the Serbian basketball league lands right on the "over/under" number, I can assure you that you are not alone. Setting the right number is the heartbeat of any sportsbook which is why they hire the sharpest minds in the betting game and task them with calculating the lines. It's not often you come across a line that is far off from what actually happens in the game. Sportsbooks have the utmost trust in their linemakers, so that when they post their lines to the betting public they aren't vulnerable to big losses. Read More >>
Parlays - these might be the most popular bets out there, especially among novice and amateur bettors, perhaps because of the lure of betting a small amount for a potentially big payoff. But they are fool's gold at best. Parlays involve wagering on two or more games on the same bet following the casino's pre-determined payout scale. Each game on a parlay must win for the bet to be a winner.
Last week, we went over how to read sports betting odds and covered the most common items you'll see on a betting board inside a sportsbook (or on your screen with your online sportsbook). These included point spreads and totals. When betting these choices, you will almost always see -110 listed with them. If you don't know what that means, don't worry - we're covering that today and it's not nearly as complicated as it looks. Whether you're brand new to betting, have placed some bets but have disregarded the -110, or live outside the United States and are unfamiliar with American odds, you'll be an expert in no time after reading.
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So the sportsbooks and bookies created a point spread to make both teams equally attractive in the eyes of bettors. Carolina was installed as a 6-point favorite, which is commonly written as Carolina -6. Denver, the underdog, is commonly written as Denver +6. In other words, Denver would be credited with whatever points they actually scored — plus six. If you bet the favorite, the Panthers would have to win by 7 points or more for you to win your wager. And remember, the Panthers are favored by 6 points, so we have to subtract 6 points from their final score for betting purposes.
In today's world, online shopping is all the rave. Sites like eBay and Amazon have taken the world by storm and people do whatever they can to avoid setting foot in a retail store. Unfortunately, there will be times where you receive your order and it's completely wrong or it looks nothing like you saw in the picture. Thankfully, you have the ability to get your money back and try again. To put that situation into sports betting context, let's talk about baseball. Baseball offers a unique bet called "listed pitchers" where your bet only goes live if the listed pitchers start the game. If not, just like Amazon, you will get a refund. Read More >>
There are times when moneyline wagering is smarter than point-spread wagering and this is why moneylines are growing in popularity. Typically used in baseball and hockey, pro football moneylines are popular in Las Vegas for picking underdogs. The team you choose only has to win the game, not win by a certain number of runs or goals. The negative value still indicates the favorite (-150) and the positive value indicates the underdog (+130). It's easiest to picture the number 100 sitting in the middle of these two values. For example, if you want to pick a -150 favorite, you would risk $150 in order to win $100. On the underdog, you would risk $100 and win $130 if the underdog wins. It's a simple way to have the risk-reward scenario. In the right circumstance, where you have a small underdog, you can get a very similar bet by risking less and also get a bigger payout by going the moneyline route.
The most common way to bet football is against the pointspread (ATS), often called a side bet. This involves making a wager on either the favorite or the underdog. For example, Team A is a 7-point favorite (-7) against Team B, making Team B a 7-point underdog (+7). If you bet on Team A, it must win by more than seven points for you to win your bet. Conversely, if you bet on Team B, it must lose by less than seven points for you to win your bet. Of course, if Team B wins outright, you also win your bet. If Team A wins by exactly seven points, your bet pushes and your wager is refunded.
If you are able to interpret NFL odds and know what the various terms mean, such as the rotation number, point spread, moneyline and over/under, you’ll have a basic understanding on what you are betting. Prior to wagering make sure you see our NFL odds page, which carries all the latest odds from the top online sportsbooks. Remember that the odds makers are attempting to even the out the bets on each game. The sports bettor has to analyze each game and the odds and make their bets accordingly in order to win cash.
“Permitted Class III Gaming. The Tribe may conduct, only on Indian Lands, subject to all of the terms and conditions of this Compact, any or all forms of Class III Gaming” (emphasis added). The agreement between the state government and Tribal governments seemingly grants the tribes, subject to the compact, extensive authority to authorize Class III gaming at their facilities.
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.
Teasers are similar to parlays except the point spread on each game moves a certain number of points in the player's favor. In football the player gets 6 to 7 points, and in basketball, 4 to 5 points. The player pays for this in the form of much lower winnings. For example, if the Vikings were part of a 6-point teaser, then they would only need to win by more than 4 points to cover. If the Rams were part of a teaser, they could win, or lose by less than 16, and cover.
Moneyline (ML) – form of wagering typically used in baseball and hockey, which replaces the point spread, but also popular in basketball especially for picking underdogs. The team you choose only has to win the game, not win by a certain number of points. The negative value still indicates the favorite (-150) and the positive value indicates the underdog (+130). It's easiest to picture the number 100 sitting in the middle of these two values. For example, if you want to bet a -150 favorite, you would wager $150 in order to win $100. On the underdog, you would risk $100 and win $130 if the underdog wins. It's a simple way to have the risk-reward scenario.