Parlay bets are a good and popular way to potentially win big with a small wager. The way they work is the bettor picks two or more events, which all must win or push to win the bet. One or more loss will cause the whole parlay bet to lose. In the event of a push, that "leg" of the parlay bet will be ignored and the win will be reduced to whatever it would pay if that selection were never made.
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.
That’s easy to understand because of the payouts. If a team is heavily favored, that means they’re perceived as having a better chance of winning. If that’s the case, then you would win less money betting on them. The opposite is true for the underdog: they’re deemed as having a smaller chance of winning, which means you would get a bigger payout if you bet on them (and they won).
A lot of betting strategy is very complex, and it definitely helps to learn some of the more advanced concepts if you want to be truly successful. However, trying to get your head around complicated strategies is NOT the right approach as a beginner. There are several simple betting systems that are relatively easy to understand, and it makes much more sense to start with these. They're not guaranteed to bring immediate success, but they can be effective if used correctly.
If you're just getting started with NFL betting, the most important thing you need to do is learn how the lines work. But this is easier said than done because NFL lines can seem like learning Greek to new bettors. Fortunately, learning football betting lines won't take you nearly as long to master as the Greek language. In fact, you should have a good understanding of the matter just by looking at the following information on how NFL betting lines work.
Round robin betting is a creative type of parlay betting that requires making multiple parlay bets at once. Deriving its name from round robin tournaments—where each team in the tournament plays against each other at least once—this type of betting is when you have a number of betting lines (moneyline bets, spread bets, totals bet, etc.) you want to parlay.
The NFL spread (betting point spreads is also known as betting ‘sides’ since you are picking one side to win the game) acknowledges that not all teams are created equal. If they were, we wouldn’t need NFL point spreads at all – teams would be so evenly matched that every game was a toss-up (or a pick em in football parlance). Simply picking the winner would be enough of a challenge.
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.
Which brings me to my next point. If you are serious about getting into sports betting, it is vital to have more than one sportsbook to make a wager at. Shopping around for the best lines will help your bankroll and you will be able to turn a bigger profit. If you see a pair of sneakers for $110 at one store, and the exact same pair is $102.99 at another store - which store are you buying them from?
The one variance you might come across in any pointspread listing is the commission owed on a bet. Instead of moving the actual spread for a game, some books will try and direct money one way or the other by adjusting the juice. For example, if there was a (-120) next to the listed pointspread, you would now owe $120 on a losing $100 bet. Sometimes a book will reduce or eliminate the juice all together to move money towards a particular side of a matchup. In this case, you might see (-105) or (+100) next to the pointspread to signify the reduced or zero commission for that bet.
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)
If you're an amateur bettor that's just starting out and are in desperate need of a quick betting terminology lesson, you've come to the right place. For starters, I would like to believe that you are starting out by picking teams that you believe will win the game outright. That would be known as a money line bet. If you are a bit more advanced then that, you would probably be looking at betting the "line" on a particular event. To some, this is known as the spread and that's completely fine, but if you ever come across a conversation involving the "line" this article will prepare you for what it actually means. Read More >>
In the UK and some other European countries the profit from spread betting is free from tax. The UK and some other European countries tax authorities designate financial spread betting as gambling and not investing, meaning it is free from capital gains tax and stamp tax, despite the fact that its regulated as a financial product by the Financial Conduct Authority in the UK. Most traders are also not liable for income tax unless they rely solely on their profits from financial spread betting to support themselves. The popularity of financial spread betting in the UK and some other European countries, compared to trading other speculative financial instruments such as CFDs and futures is partly due to this tax advantage. However, this also means any losses cannot be offset against future earnings for tax calculations.
Apply the spread. In point-spread betting, the actual final score of the game is only the starting point. Say Chicago beats Detroit 24-17. Because Chicago was the favorite, you subtract the point spread from its final score. That's the purpose of the minus sign in the spread. The spread was 6, so you take 6 points away from Chicago's point total, giving you an "adjusted" score of Chicago 18, Detroit 17. If you'd bet on Chicago, you'd have won the bet. Now, say Chicago won the game 20-17. Subtracting the 6 points from Chicago's total gives you a final score of Detroit 17, Chicago 14. If you'd bet on Chicago, you'd have lost.
To achieve this balance, the book can move the spread and/or the juice at any time after the first lines hit the NFL odds board, all the way up until kick-off. If there had been too much action on the Packers at Super Bowl 1, the oddsmakers could have made Kansas City a 15-point underdog (+15), in order to encourage more people to bet on the Chiefs. They also could have kept the spread at 14 points and moved the juice, perhaps to –105 for Kansas City and -115 for Green Bay. You’ll often see the books adjust the juice first when the spread is three points; since so many NFL games end in a winning margin of three points (roughly one in six games), moving the spread from 3 to 3.5 points is a pretty big deal, and it might tilt the balance too far in the other direction.
If you bet on the point spread, you’ll often see -110 placed next to each betting option. That means that you have to bet $110 to win $100. The $10 difference is effectively a fee you are paying to place the bet. It can be referred to as the juice or the vig (short for vigorish, which originates from the Russian word for winnings). If there is an even amount of money bet on both sides of the line, the juice guarantees a profit for the house.