Firstly you really need to understand the basics of what sports betting is all about, and what's involved with placing wagers. These basics are relatively straightforward, so thankfully it doesn't take long to get up to speed. It's definitely advisable to familiarize yourself with them though. Our beginner's guide to sports betting is the perfect resource for this. Here's a selection of some of the topics it covers.
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.
Understand that negative odds indicate how much money your must spend to make $100. When betting on the favorite, you take less risk, and thus earn less. When betting on a favorite, the moneyline is the amount of money you need to spend to make $100 profit. In the previous example, in order to make $100 of profit betting for the Cowboys, you would need to spend $135. Like positive odds, you earn back your bet when winning.
If you want to predict what will happen when Team A meets Team B, your best stats to analyze are those generated in their most recent head-to-head matchups at the same venue. The habits of the betting public are fairly constant, so ATS results in general have a longer shelf life, but don’t bother going too far back in time. The 2009 New York Yankees are going to look a lot different than the 2008 Yankees or the 2000 Yankees. (Source: The Sports Bookie Blog)
Mississippi became the fourth state in the United States to launch sports betting operations on August 1, 2018 when Gold Strike Casino Resort in Tunica Resorts and Beau Rivage in Biloxi started taking wagers. On August 30, 2018, West Virginia became the fifth state to launch sports betting, with Hollywood Casino at Charles Town Races the first casino to offer sports betting. New Mexico became the sixth state to offer sports betting on October 16, 2018 with the launch of sports betting at the Santa Ana Star Casino in Bernalillo.
Spread betting has moved outside the ambit of sport and financial markets (that is, those dealing solely with share, bonds and derivatives), to cover a wide range of markets, such as house prices. By paying attention to the external factors, such as weather and time of day, those who are betting using a point spread can be better prepared when it comes to obtaining a favorable outcome. Additionally, by avoiding the favourite-longshot bias, where the expected returns on bets placed at shorter odds exceed that of bets placed at the longer odds, and not betting with one’s favorite team, but rather with the team that has been shown to be better when playing in a specific weather condition and time of day, the possibility of arriving at a positive outcome is increased.
For starters, you will need somewhere to place bets. If you are in Vegas, great! You can bet at one of the sportsbooks in their casinos. As more and more states pass laws to legalize sports betting, you will also be able to place wagers at local casinos in your area. You could also find a local bookie to bet through, but we recommend betting online.
First and foremost, I would look at the overall offensive rankings of both teams. Even though the saying is that defense wins championship, offense wins games, and an explosive offense could be the difference between you not only covering the spread, but also hitting the over/under bet. There is a common belief that sharp sports bettors don’t bet favorites and don’t like offensive juggernauts. I am here to tell you that is bologna. Some of our biggest wagers each and every football season will be on a well focused large favorite. There is no better bet out there than finding an attentive favorite that is ready to pour it on.
One of the most basic concepts when it comes to betting on sports, especially football and basketball is the pointspread. Even people that do not bet on sports understand what it means when they read or hear that New England is a seven-point favorite against Miami. While reading a pointspread and understanding what they mean is a very basic sports betting concept, there is still more to these numbers than meets the eye.
Several factors influence a point spread. It starts with power rankings. The media creates power rankings throughout the year, but those can be entirely subjective based more on feelings and emotions than actual raw data. An oddsmaker creates power rankings based on a host of statistics, some more complex than others. The rankings will include record, strength of schedule, and various offensive, defensive, and special teams metrics. They might use Football Outsiders’ efficiency metrics, they might use expected points added, or they might use a host of other internal and external options. The idea being to develop as objective an assessment as possible as to how good or bad a given team is compared to the rest of the NFL.
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.
A point spread - Lets take, for a hypothetical situation on one of the types of football bets (using the point spread), that the Kansas City Chiefs were visiting the Detroit Lions and Detroit was established as a six-point favorite at game time, which is commonly written as Detroit -6. Kansas City would be the underdog and displayed as Kansas City +6. If you bet the favorite, Detroit has to win by more than six points to win your bet. Remember, the Lions are favored by six points, so we subtract six points from their final score on a spread bet. If Detroit were to win 27-20, Lions bettors would win their wager. If the Chiefs were to win the game by any score and you picked the Chiefs you would win not including the extra six points. If the Lions were to win, 20-14, it would be exactly six and a push, so you would get your money back.
Sometimes a line will move far enough to create a “middle” opportunity. Say the Texas Longhorns end up facing the Wisconsin Badgers in the first round of March Madness. If you have Texas early as a 5-point favorite, and I move the line to Texas –7 later in the week, then you can also place a bet on Wisconsin +7. If Texas happens to win by six points, both your bets cash in. Texas winning by either five or seven gives you a win and a push. Any other result creates a win and a loss, so you’re only risking the vigorish.
If a team favored by six points wins by exactly six points, the outcome is considered a "push" and the bettors get their money back, minus the bookmaker's commission. To reduce the number of pushes, oddsmakers often set spreads with half-points. So if the Cowboys are 3 1/2- or 3.5-point favorites over the Giants, they must prevail by four or more points to pay winning bets.
If the bookmaker was only confident enough to give Seattle a field goal’s lead on the Patriots, it was clearly going to be a tight game. Oddsmakers aren’t often that wrong about flagship games like the Super Bowl. All things being equal, it’s likely the betting public would have taken the Seahawks to win the game and have been done with it. But throw in the point spread that gave the Patriots 2.5 points, and the proposition seems more equal.
Essentially, a moneyline bet is a bet on which team is going to win the game. There is no point spread or other handicap for either team, so if you pick a team and it scores more points than the other team then you win. Obviously there has to be a catch, though, or the bet would be way too simple. The sportsbooks balance their risk by setting different prices on each team. You win a smaller amount than you bet if you pick the favorite, and you generally win more than you bet if you pick the underdog. The stronger the favorite the less you will win, and vice versa.
If you've ever made a full-game bet that was completely toast by half time, I will assume you know all about the half time bet. If you are one of the lucky few who don't know what that feeling is like, a half time bet allows you to wager on the outcome of the second half on any particular game - regardless of what happened in the first half. If you look hard enough and focus in on one or two games, you can often find a line that offers more value than you would normally find on a full game line because the line is soft. Read More >>
Sometimes with NFL odds you’ll see a spread posted as a whole number. Decimals or fractions are usually utilized to ensure there won’t be a tie. If in our example the spread was reset to 10 with the Colts favored and they win by 10, then the game is considered to be a tie, which in betting terms is called a push. If there is a push all bets are off and the sportsbooks return all wagers back to the bettors.
As the numbers grow larger each way – the small numbers get smaller or the positive numbers get larger – that indicates that those options are bigger and bigger favorites, or bigger underdogs. That’s particularly relevant when you’re looking at something like the odds to win the Super Bowl. The teams with smaller numbers are deemed as having a better chance of winning and then as the numbers grow larger, those teams are deemed bigger and bigger longshots.
In-play betting. In-play betting is a fairly new feature offered by some online sports books that enables bettors to place new bets while a sporting event is in progress. In-play betting first appeared towards the end of the 1990s when some bookmakers would take bets over the telephone whilst a sports event was in progress, and has now evolved into a popular online service in many countries. The introduction of in-play betting has allowed bookmakers to increase the number of markets available to bet on during sports events, and gamblers are able to place bets based on many different types of in-game activity during the matches. For example, in football matches, it is possible to bet in on in-play markets including the match result, half-time score, number of goals scored in the first or second half of the game, the number of yellow cards during the match, and the name of the goal scorers.  The availability of a particular sport and in-play markets varies from bookmaker to bookmaker. In-play sports betting has structural characteristics that have changed the mechanics of gambling for sports bettors, as they are now able to place a larger number of bets during a single sports game (as opposed to a single bet on who is going to win). One of the most important differences between being able to place an in-running sports bet opposed to a pre-match bet is that the nature of the market has been turned what was previously a discontinuous form of gambling into a continuous one. The gambling study literature has suggested that in-play sports betting may offer more of a risk to problem gamblers because it allows the option for high-speed continuous betting and requires rapid and impulsive decisions in the absence of time for reflection. There are three different types of in-play sports betting products(cash out, Edit my Acca, and Edit my Bet).
A spread is a range of outcomes and the bet is whether the outcome will be above or below the spread. Spread betting has been a major growth market in the UK in recent years, with the number of gamblers heading towards one million. Financial spread betting (see below) can carry a high level of risk if there is no "stop". In the UK, spread betting is regulated by the Financial Conduct Authority rather than the Gambling Commission.
In most cases, the favorite will be the team with a negative moneyline (in some cases both teams can have a negative moneyline if they are both closely matched). A line of -160 means that you would have to bet $160 to win your base amount of $100. A team with a moneyline of -130 wouldn't be favored nearly as strongly as a team with a moneyline of -330.
Who doesn’t love a good old-fashioned NFL spread? Not only does the point spread remain the king when it comes to wagering on pro football, it is a favorite among pro sports bettors and beginners alike. Also known as the line or spread and as betting “sides,” a common misconception is that sportsbooks set the spread as a predicted margin of victory. It’s actually the number oddsmakers predict would be a good balance between people who want to bet the underdog and those who want to bet the favorite.