Before I go on, let me clarify some terminology. Despite it being probably the most popular way to bet, there is no particular term for a bet against the spread. Many people call this a "straight bet." However, this term can also be used, and is printed on tickets for, money line bets, total bets, and any other bet involving just one game. For purposes of this page, I call such bets a "point spread" bet, and invite the rest of the world to adopt this terminology.
You can also bet straight winners and losers -- with no point spreads involved -- with money line wagers. When there is a minus number you bet that amount to win $100 in profit. When there is a plus number, that is your winning profit for every $100 wagered. So if the Cowboys have a money line of -250, you would have to bet $250 on them to win $100 in profit on any Dallas victory. If the Giants had a money line of +150, you would win $150 in profit with a winning $100 bet. If a money line is posted as even, you would win a $100 profit on a $100 winning bet.
Another way to beat football point spreads is to shop for off market prices. For example, let's say you're shopping online betting sites and see every site is offering Vikings +7.0. Then, you stumble upon one site that's offering +7.5. There's a good chance that this is a +EV wager, simply because it is out of sync with every other site. Please note that this strategy isn't quite the same as simply shopping for the best lines. Here, you're specifically looking for wagers that are +EV because they're against the market.
The bookmaker functions as a market maker for sports wagers, most of which have a binary outcome: a team either wins or loses. The bookmaker accepts both wagers, and maintains a spread (the vigorish) which will ensure a profit regardless of the outcome of the wager. The Federal Wire Act of 1961 was an attempt by the US government to prevent illegal bookmaking. However, this Act does not apply to other types of online gambling. The Supreme Court has not ruled on the meaning of the Federal Wire Act as it pertains to online gambling.
First, however, a word of caution: Sports betting can be a fun and profitable venture. However, like most good things in life there are pitfalls to be aware of. You should be able to enjoy many positive experiences as long as you bet in moderation and under control. We know you have heard this before but it definitely bears repeating: don’t bet money you can’t afford to lose, either emotionally or financially. If you or someone you know shows signs of compulsive gambling, one place to find help is Gamblers Anonymous.
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)
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.
A parlay basically combines several different wagers into one. For example, a parlay could be made up of five point spread wagers on five separate games. The payout for such a wager could be very attractive, but only if ALL the wagers were correct. Just one wrong pick would mean the whole wager failing. That's why these are considered quite risky. They're a bit more complex than the previous wagers mentioned, but we won't go into any more detail here. We do on the following page though.
There's another reason to bet the underdogs on the moneyline as well. If your handicapping has made you feel very strongly that a poor team is due for a big win then the moneyline allows you to profit much more handsomely from your conclusion than a point spread bet does. The moneyline, then, is a powerful situational tool for people who closely follow the NBA.
If both bets are correct you would win approximately 2.5 to 1. The odds for parlays are different at different sports books. If you make a parlay with 10 teams you might get paid around 70 to 1 or better depending on the sports book. Winning one game is difficult enough and parlays are very difficult to win. There’s a reason the payouts are so high.
If you'd rather not deal with point spreads, you can do a "Money Line" wager, which is whether the team/player you bet on wins or loses. You will see "Hawaii Tech +150 or Alaska Tech -140". This means if you bet on Hawaii Tech, if you bet $100, you would profit $150 (returns $250), while to win $100 on Alaska Tech, you must put up $140. Those ratios work whether you're betting $100, $10, or any other multiple of money.
There are very few (if any)people in this world that have the ability to predict the future. I'm thinking maybe some of the prophets who lived hundreds of years ago and maybe the person who writes for The Simpsons since they seem to get every world event nearly spot on. Sports bettors like to think they are in that class which is why sportsbooks give bettors the option to place a Future Bet. A future bet is a bet that is made well in advance of the culmination of any sporting season or world event that is set to occur - think Super Bowl and thePresidential Election. Read More >>
Point spreads focus on a margin of victory between the two teams and again, what you’re looking for is the positive and negative signs. If there is a minus sign next to a team’s spread, that suggest that they are favored and have to win by or cover that amount. If there is a positive sign, that tells you that they are the underdog and they are getting points. For example: let’s say that the New England Patriots are playing the Buffalo Bills and the Patriots are -5.5 and the Bills are therefore +5.5. If you bet the Patriots, they have to win by six points or more to cover. If you bet the Bills, they can lose by five points or less, or they can win the game outright and you would still win your bet.
A. It is unlawful for any person to, directly or indirectly, knowingly accept for a fee, property, salary or reward anything of value from another to be transmitted or delivered for gambling or pari-mutuel wagering on the results of a race, sporting event, contest or other game of skill or chance or any other unknown or contingent future event or occurrence whatsoever.
The spread - The point spread is used in high-scoring sports like football and basketball. It is basically a handicap used to make all games competitive in the eyes of bettors. The spread gives one team an advantage of a few points. Standard notation for the point spread shows the favored team first, followed by a negative number (the actual spread). The home team is shown in capital letters. So if Buffalo was playing against Green Bay in Green Bay, and they were favored to win by seven points, it would look like this:
Pools, cards, and parlays - A parlay is just a combination bet. Instead of making five separate bets on five different games, the bettor places a single parlay bet, hoping he or she can predict the outcome of all five games. If any one of the games is a loser, the entire parlay is a loser. The payout is better for parlays, because the odds of successfully picking multiple winners are much tougher to beat [ref]. Most people are familiar with parlays through office betting pools or football cards. If you've ever paid $5 to select your winners from a list of that week's football games (sometimes using the spread, sometimes using the straight scores) in hopes of winning the weekly prize, then you have made an informal parlay bet. Office pools don't usually involve actual bookies beyond the person who organizes the pool, and no one takes juice from the pool. All the money is distributed to the winner or winners.
There are many ways that you can bet on football and I will go over all of the different options below. The first and most common bet is the straight bet, which simply means the team wagered on must win by the point spread given at the time of the wager. Most of the time the odds on a straight bet is -110, which means for every $110 bet, you win a $100 back. An example of a straight bet is if the team you bet on is a 6 point (-6) favorite, also known as giving up 6 points. Then in order for you to win, the team taken in the wager must win by more than 6 points in order to collect your winnings. If they win by 6, then this will be called a push and your original bet will be refunded to you. You can also bet on the totals, which is also known as the over/under bet. The totals bet is The combined score of both teams for games wagered on, all totals pay out at -110, which is $110 dollar bet makes you $100, no matter if you bet on the over or the under. If the total score equals the line, then the bet is a push and you get your original bet back. Another type of bet is the money line bet. This bet is simply that team wagered on just has to win the game. The odds on these games vary depending on the disparity between the favorite and the underdog. You obviously will win more betting on the underdog; however there is a reason why these bets pay more because the odds of the underdog winning are decreased. Although betting the moneyline can sometimes return a big sum, it is wise to know that the bookmakers hold percentage is much larger than a typical straight bet on the side or total of a game. A classic straight wager on the point spread is almost always dealt at -110 on both sides which is 20 cents of vigorish. Compare that to a double digit favorite in college football with a money line of -600/+450 and you can see the extra 130 cents of vig added in.
A wager on the Giants on the spread does not mean that New York has to win the game in order for you to win cash. All the G-Men have to do is come within 8 points of the ‘boys, and you’re a winner. You determine a winning or losing point spread by adding or subtracting 7.5 from the final score, depending on which side you laid your bet. If you’re confident that New York will at least come within a touchdown of beating the Cowboys, or beating them outright, then you’d wager on the spread in favor of New York.
Above, you can see several numbers to the right of both teams. These all represent the different lines that are available on the San Francisco vs. Los Angeles game. The first set of numbers for both teams is the point spread, the second set is the moneyline, and the third set is the over/under (a.k.a. totals). We'll explain each of these lines more in-depth below.
As you can see above, the combined score for Superbowl XLV was 56, and since this line was offered at reduced juice, a wager on the over at 44.5 of only $105 would yield a profit of $100. This line closed at a high of 46 points at some books, demonstrating how the public, who tend to show a proclivity for high scoring games, can increase an O/U line.
Jeff Gordon has been reporting and writing since 1977. His most recent work has appeared on websites such as eHow, GolfLink, Ask Men, Open Sports, Fox Sports and MSN. He has previously written for publications such as "The Sporting News" and "The Hockey News." He graduated from the University of Missouri-Columbia School of Journalism in 1979 with a bachelor's degree.
Many of the leading gambling bookmakers from the 1930s to the 1960s got their start during the prohibition era of the 1920s. They were often descendants of the influx of immigrants coming into the USA at this time. Although the common stereotype is that these bookies were of Italian descent, many leading bookies were of eastern European ancestry.
Sports bettors place their wagers either legally, through a bookmaker/sportsbook, or illegally through privately run enterprises. The term "book" is a reference to the books used by wagebrokers to track wagers, payouts, and debts. Many legal sportsbooks are found online, operated over the Internet from jurisdictions separate from the clients they serve, usually to get around various gambling laws (such as the Unlawful Internet Gambling Enforcement Act of 2006 in the United States) in select markets, such as Las Vegas, Nevada, or on gambling cruises through self-serve kiosks. They take bets "up-front", meaning the bettor must pay the sportsbook before placing the bet. Illegal bookies, due to the nature of their business, can operate anywhere but only require money from losing bettors and don't require the wagered money up front, creating the possibility of debt to the bookie from the bettor. This creates a number of other criminal elements, thus furthering their illegality.
If your sports betting experience consists mostly of office pools during March Madness or a casual wager between you and a friend while you watch the Super Bowl, the transition to serious sports betting means learning how to read betting lines. The biggest difference between making the kind of casual bets mentioned above and placing wagers with online sportsbooks or at brick-and-mortar bookshops is the use of sports betting lines. Casual wagers usually involve each person in the bet picking one team to win, then wagering an equal amount, say $20 or $30. Professional bookmakers, online sports betting exchanges, and sports betting facilities in casinos have a more complex system for offering wagers on sporting events, in part to ensure profit on the part of the book, and in part to present a standardized representation of odds.
In 2012, despite federal law preventions, the state legislature of New Jersey and Governor Chris Christie signed a law that would allow sports betting to take place in New Jersey race tracks and Atlantic City casinos. In August 2012, Fairleigh Dickinson University's PublicMind conducted a study on the issue. Voters were asked whether New Jersey should allow sports betting even if federal law prevents it from doing so, or wait to allow sports betting until federal law permits it. Results showed that nearly half (45%) of voters wanted to allow sports betting, while (38%) decided to wait and allow sports betting once Congress allows it. Krista Jenkins, director of the poll, commented, "Although support is not overwhelming, these numbers suggest the public is cautiously behind the goal of moving forward with legalized sports betting."
In general, the betting public tends to gravitate towards favorites when betting the games regardless of the actual pointspread. This is especially true with high-profile teams such as Dallas and Green Bay in the NFL and Golden State and Cleveland in the NBA. The sportsbooks are well aware of this phenomenon and often times they will adjust the betting spreads accordingly. This, in turn, actually adds some value to the underdog when you consider that a pointspread is nothing more than a handicapping tool that is designed to even out the match.
The 2015 Gaming Compact negotiated pursuant to the Compact Negotiation Act permits the Pueblo to “conduct, only on Indian Lands, subject to all of the terms and conditions of this Compact, any and all forms of Class III gaming.” Gaming Compact at Section 3(A)(emphasis added). The Gaming Compact, like the Compact Negotiation Act, does not qualify or limit the term ‘class III gaming.’
For all the talk of new forms of wagering, the good old point spread remains the bet of choice for most NFL fans. Also known as the line or spread, the myth is that Las Vegas sets the point spread as its predicted margin of victory for one team. In reality, it's a number chosen by oddsmakers that will encourage an equal number of people to wager on the underdog as on the favorite. The negative value (-3.5) indicates that team is favored by 3.5 points. The positive value (+3.5) indicates that team is the underdog by 3.5 points. Betting on the favorite means the team must win by at least four points to cover the point spread. The underdog team can lose by three points and still cover the spread. You will also notice a moneyline value associated with the point spread (such as -3.5, -115). This indicates how much you must risk in order to book the bet (also known as the vig or juice). It means you have to risk $115 to win $100. The underdog may see a value such as +3.5, +105. This means you risk $100 to win $105 if your team covers the spread. The spread is not a static number, so you will notice line moves during the week. Team A may be favored by 3 points on Tuesday and by 4.5 points on Friday. This indicates more people are betting on them, so Las Vegas increases the underdog value hoping to encourage more wagers on the underdog.