Betting Terminology

In this example, a $100 wager would win $150 for a total return of $250, instead of the standard point-spread bet of $110 to win $100 with a return of $210. In this example, the Giants are not only three-point favorites against the spread, they are -170 favorites to win straight up on the money line. So if you were confident they would win but it might be close, you would pay $170 to win $100 on the Giants to win absent the point spread. To place this bet, you would tell the ticket writer you wish to place a wager on rotation number 457 and state the desired amount. In point-spread betting, each team pays the same, so a point-spread is used to make the game even. If the Miami Heat are playing the worst team in the league, it’s obviously not an even game.

So in the example above, if the cricket team ended up scoring 345 runs both buyers at 350 and sellers at 340 would have ended up with losses of five unit points multiplied by their stake. And on the other side, the Bucks, who are at +3.5 on the spread (or “getting” 3.5 points), would be somewhere around +160 on the money line (8-5 odds). So, you risk $100 to win $160, but only if the Bucks are victorious.

The answer to that question is no which also means that calculating an accurate PAP is also not easy to do. And if you can crack the code and get good at it, you’re going to be a very wealthy sports bettor. So, the answer to your question is that you have to do your best to try and predict what the actual probability is. The better you are at this, the better you are going to be at sports betting. Because we were betting a wager with value, we walked away a winner. It has literally nothing to do with our win/loss record and everything to do with whether the bet has value or not.

A stop loss or stop automatically closes the bet if the spread moves against the gambler by a specified amount. The other pitfall is a bettor letting his heart get into a place where his mind is — in other words, falling in love with his home team or his favorite team. Now we’re getting into “exotics,” or types of wagers beyond the traditional kinds. Handicapping refers to a person’s approach to predicting a game’s outcome. Do the Golden State Warriors play poorly on the second night of a back-to-back? Bettors should track any changes from the initial release until the time they are ready to place bets to gain a sense of market sentiment.

Odds presented above cannot be wagered on and all of our official grading and payout policies can be found on our House Rules page. Putting it another way, a teaser gives you some cushion, but again you have to be right on every team (or “leg”) you play. Teasers may seem appealing, but things often don’t go the way we expect, so don’t be easily seduced by the extra points. So what is the benefit of having to win both legs of the bet? Handicapping can be as simple or as complicated as you like. People who wager on sports professionally will devise their own rating systems and use them to help identify what a line should be.

Listed pitchers – A baseball bet placed only if both of the pitchers scheduled to start a game actually start. Free Bet – A Free Bet is a token with a number value, which a customer can attach to a selection to a selection to place a bet. The difference between a bet placed with a Free Bet Token and a regular bet, is with a free bet the “stake” is not included in the winnings. Free bets are only given out per terms and conditions and for specific promotions. First-half bet – A bet placed on the score in the first half of the game only.

How To Read Lines And Odds

If they lose by exactly 7 points, the bet is considered a push and is canceled. The point spread is the projected number of points that separate two teams. A favorite “gives” points and is identified with a minus sign next to their point spread. The underdog “gets” points and is identified with a plus sign next to their point spread.

You may be asking yourself how the sportsbook makes their money here if they’re just taking the loser’s money to pay the winners. Well, if things were completely fair , they wouldn’t be +120 and -130. That difference there is the juice that the casino is taking off the top as their profit. In order to combat this, the sportsbook will adjust the amount that you get paid on a particular bet. If they need to get more money bet on a particular side, they will increase the payout for a win on that side of the bet and decrease the payout for a win on the other side of the bet. Before we get into value and the meat of this guide, we need to talk about how betting lines work.

Short for proposition bets, props can cover any element of a game or broadcast that doesn’t involve the point spread, over/under, or money line odds. Alternatively, laying $1 on Miami’s +135 money line will payout at $1.35 if they are victorious. When prospective gamblers ask the question “how does sports betting work,” they are usually inquiring about the meaning of the numbers and odds that are posted in each game. In the next few sections, we’ll slowly work through each aspect of a common sports betting line. Regardless of payout, the main goal for ANY moneyline bet is to win. Making the correct call is the bottom line, so your choices should revolve around which side you think has the greater chance to win.

As is the case with winning, a loss on the scoreboard is a loss on a moneyline bet. Whereas a bettor could win a point spread bet if a losing team covered, moneyline odds are only concerned with the final score. If you decide to bet Duke, who is listed as the favorite, which has a higher implied probability of winning the game according to the bookmaker, one would need to bet $760 to win $100.

The Bruins are dogs – if you bet $100 on them you stand to win $125. First, we’ll think about how the line movement affects our bets when we already know who we want to bet on. If you are sure which side you want to back, all you need to worry about is getting the best price or point spread. There are lots of different sports betting strategies that let you leverage your knowledge of line movement. The most common reason for line movement is that the vast majority of public bettors are betting in one direction.

The three main types of betting odds are fractional odds, decimal odds, and American odds. These are simply different ways of presenting the same thing and hold no difference in terms of payouts. This means that a chance of an event occurring can be converted and presented in any of the aforementioned types of odds. These lines work exactly the same way as a point spread, but they usually have adjusted juice rather than the standard -110 juice attached to most football and basketball point spreads. Like juice, money line odds are based on $100 wagers and win amounts, but bettors aren’t required to bet in $100 increments. In this example, a winning $230 Seahawks money line bet would profit $100 which means $23 would profit $10; $46 would profit $20; $2,300 would profit $1,000; etc.