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How to understand sports betting odds federal ban sports betting

How to understand sports betting odds

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The money line will always be listed to the right of the point spread on the odds board in a sports book. 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. This is how the sportsbooks make a lot of their money. For instance, let's say you want to bet a two-team parlay. However, the sportsbook is only going to pay you 2. The house vigorish - and your chances of winning - get worse with the more teams you add. So while some sportsbooks will let you place a teamer with astronomical odds, you probably have a better chance of being struck by lighting - twice - before winning one.

You are much better off sticking to two-team parlays exclusively, if you insist on taking poor odds and placing parlay wagers. Teaser bets - The teaser is so named because it, too, looks tempting, but if you allow yourself to get too seduced, you'll usually end up on the losing end. The teaser bet gives or takes away extra points from the team you back. 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. This page requires JavaScript, which is not enabled on your browser. Source: Doc's Sports Service When you bet on the money line , you are betting on one side to simply win.

With the money line you just have to hope your team wins rather than cover a point spread. Of course, the one downside is having to risk more money to return the same amount that a point spread bet would net you. When the point spread was invented in Chicago by Charles McNeil the money line took a backseat. In football the money line is often a popular choice for bettors who have been burned by last-second scoring that actually had no actual affect on the outcome of the game.

Money line bets tend to be even more popular with underdogs. A nice profit can be made if a touchdown or more underdog pulls off an outright win. When betting with a point spread you are wagering that a particular team will win or lose by a certain amount of points.

This pays out even-money minus the vigorish, or bookmakers take, which we will later explain further. If the final score happens to end up exactly on the number it's a tie, or 'push,' and you get your money back. These are examples of 'side' betting with a point spread. There are also 'total' wagers that refer to the total amount of points scored by both teams.

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. In a perfect world if all bookmaker action was balanced, they would be guaranteed a nice profit because of the vig.

Identify the favorite : Lines with a - before the number i. That does not mean you have to bet that much, it's just easiest to understand! The most important thing you can teach yourself early on is: "Just because the books assign one side to be the favorite even large, or , favorites , does not mean that they will win.

Money line odds - These are by far the most common form of odds in North America for sports betting. They are expressed as numbers greater than , and they can be either a positive or negative number. Each one is a little bit different. Just what is a moneyline? 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.

How do you read a moneyline? A moneyline is a number larger than , and it is either positive or negative. A line with a positive number means that the team is the underdog. 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 team with a moneyline of wouldn't be favored nearly as strongly as a team with a moneyline of Why would I bet a favorite on the moneyline?

The biggest advantage of the moneyline for the NBA is that your team doesn't have to overcome the point spread for you to win your game. If your handicapping leads you to believe that one team is likely to win but you can be less certain that they will win by as much as the point spread then the moneyline may be attractive.

You are sacrificing some potential return because the moneyline won't pay as much for the favorite as the point spread will, but it's obviously better to make a small profit than it is to lose a bet. This is particularly attractive in basketball because the favorites can often face large point spreads and teams can win comfortably and effectively without covering the spread.

Why would I bet an underdog on the moneyline? Simply, bigger returns. You won't win as often, of course, because the underdog not only has to cover the spread, but it actually has to win the game outright. Upsets happen, though, and good handicapping will often isolate situations where the likelihood of an upset exceeds the risk of the bet.

This is especially relevant in the NBA because the number of games, and the possibility for even the best teams to have a bad night mean that major upsets are far from rare and can be very profitable. 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. Understanding Sports Odds Identify the type of line you are looking at. All online sports books offer you the chance to have your lines in an "American" or "Money line" version. If I were you, I would use this as my standard. Two other less common variations exist: decimal odds and fractional odds. Briefly: --Fractional odds are most commonly found in racing. Identify the favorite.

For those that are bored with football betting slips, apps are the future! Instead, your bet slip will be a small bubble in the corner that adds a number every time you select another event. To view your bet slip and place a wager, merely touch the bubble. Not only do mobile platforms offer the convenience of betting on the go, but certain sites may even offer special bonuses for taking advantage of mobile betting.

You may see offerings of free bets on the first mobile wager you place. Now that you know the basics of using a sportsbook website, you need to understand the actual act of betting better. The next section will tell readers how sports work, and where sportsbooks get these numbers in the first place. Depending on which country your sportsbook operates out of, the odds will be listed in one of three different formats: decimal, American, or fractional.

However, whatever the default format, you will always have the option to switch the odds to your preferred format. The place to change the format is usually in a scroll-down box at the top of the screen. Of all the options, this one is the easiest to calculate your potential payout. Simply multiply your risk against the decimal number. That indicates how much your return will be if the bet wins. Needless to say, the larger the number, the bigger the potential payout.

If an outcome has a negative number e. It is really a percent chance. The best way to look at fractional odds is that the number on the right is the amount you wager, and the number on the left is what that stake will payout in winnings.

The favorite is always the team with the smaller number. The underdog is the team with longer odds and therefore a greater payout. As the section above explains, odds can be displayed in three different formats, but they all convey the same information. In order to be a successful sports bettor over the long haul, you need to put your money down when the odds are in your favor.

The first step in making such wagers is understanding that the odds, in whatever format, imply a certain probability of the outcome. Pretend you and a friend are going to bet on the result of a million-coin flips. You take heads, she takes tails. If you two are flipping a fair coin, she is going to end up with a profit and you are going to end up in the red. In other words, as long as her bet wins In order for you to do the same, your bet will have to win at least Using the other two odds formats, the odds were.

In order for Super Bowl 54 wagers to have a positive expected value , the Chiefs would have to win the game at least Most successful sports bettors use extremely complex prediction models to calculate how often certain events should occur — in this instance, how often The Patriots would beat The Ravens if they played multiple times.

If you want to get into the technical side of things, a great place to start is learning what is a unit in sports betting. One common question we often get from people who just learned how to read odds and understand their meaning revolves around even matchups. Using these extra percentages, bookmakers make their cut. There is no risk to them that way. They simply pay the winners from the money bet by the losers and pocket the vig.

However, if a lot more money is being bet on heads than tails, the sportsbook is at risk of losing money. This will make future bettors more likely to put money on tails. Although a basketball game may say the start time is PM, for example, there are pregame introductions and anthems that push tip-off back a few minutes.

The online betting window remains open until the ball is first tossed in the air. The same goes for every other sport.

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Note: the odds are given in the American format. Usually in any game, one team is better than the other, giving us the terms favorite and underdogs in the first place. The point spread makes things more interesting for bettors, as well as making a profit for the bookies.

Essentially, the point spread is a handicap given by the bookmakers to bring teams to an equal footing, in that it generates interest in both teams from bettors. If you placed a bet on Team A, the team would have to win the game by eight or more points. Betting on Team B would win you your bet if the team wins the game, OR if it loses by less than six points. Instead, the bet depends on whether the combined amount is over or under a predetermined number set by the bookmaker.

All you have to do is decide whether the combined scores will total over that mark, or under it. Again, there are three main formats:. What does this mean? All you have to do is multiply your wager by the odds to find out your potential winnings. For the purposes of this article, we will focus on American odds.

Know your potential profits when you make a wager with this betting odds calculator. American odds are presented as either positive or negative odds. As previously stated, understanding and calculating the implied probability in betting odds is key to long-term betting success at, for instance, Pointsbet Sportsbook. What is the implied probability of these odds?

So the implied probability of the Lakers winning the game is 0. In this instance, the bookmakers believe the Lakers are a Calculating the implied probability in negative American odds is fairly straightforward:. So in our example, the Bulls are at odds of to win the game.

So the implied probability of the Bulls winning the game is 0. In this case, the bookmakers see the Bulls as a As stated earlier, the key to successful betting is to bet only when there is value. In our example, we should only bet on either the Bulls or the Lakers if we determine that they are a better chance to win the game than what the odds represent.

If we believe the Lakers are a better chance to win than If we believe the Bulls are a better chance to win than Understanding betting odds is crucial to long-term betting success. Possessing an intimate grasp of betting odds and their implied probabilities is fundamental to profitable betting.

Many states allow for online horse racing betting and you can see odds at most of the big horse racing tracks around the world. Betting odds represent the probability of an outcome occurring and the return profit you will receive if your bet is a winner. It could be the likelihood of all of your final four betting picks being correct. Understanding the implied probability is crucial. Because you should only bet when you believe the probability of an outcome occurring is higher than the implied probability.

But if you would like to learn more about betting odds and alternative odds formats, try this odds converter.

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If the bettor was satisfied with the bet, the bet is finalized once the bettor hands the cashier their money. Telling a cashier the rotation number of a bet is not absolutely mandatory. However, one cannot assume the cashier is knowledgeable about every sport, so telling the cashier the rotation number makes their job easier.

Betting on a point spread is the most common type of sports bet. Point spreads are in essence a handicap to even the odds between two teams. The favorite will always have a minus sign attached to their number, while the underdog can be identified with a plus sign. In this example, there is no plus sign with regards to the point spread.

Similar to point spreads, a moneyline favorite can be identified with a minus sign next to the number while the underdog will have a plus. With a moneyline bet, one is simply betting who will win the game regardless of the margin of victory. The Cowboys have a moneyline of The reason why the payout is so big is that they were considered eight-point underdogs to begin with.

Therefore, the likelihood of them winning outright is not high. Moneyline odds and point spreads typically go hand in hand. The more points a team is favored by, the more expensive their moneyline will be. A standard vig is on these bets. Essentially, the point spread is a handicap given by the bookmakers to bring teams to an equal footing, in that it generates interest in both teams from bettors.

If you placed a bet on Team A, the team would have to win the game by eight or more points. Betting on Team B would win you your bet if the team wins the game, OR if it loses by less than six points. Instead, the bet depends on whether the combined amount is over or under a predetermined number set by the bookmaker. All you have to do is decide whether the combined scores will total over that mark, or under it.

Again, there are three main formats:. What does this mean? All you have to do is multiply your wager by the odds to find out your potential winnings. Fractional odds are one of the oldest forms of odds in sports gambling and are more popular in the UK market. Basically fractional odds show you how much you are set to win relative to how much you put in. There are a few reasons.