Betting Odds Explained

Generally, bookies are of the belief “the more information, the better.” Of course, game results and stats play a huge part, but so does recent history . News on injuries or coaching decisions also plays a crucial factor. It’s important to remember that vegas lines move in both ways; in terms of points being offered, and the available payout. Clearly, this is not an ideal scenario for a sportsbook, as they’re always looking to make it a profit.

So, it makes sense that the simplest bet to make is moneyline betting. A bet on the moneyline is a bet on a team to win its respective matchup. No point spreads are involved, and it doesn’t matter if the game winds up being a high-scoring affair or a defensive clinic. One team will have outscored the other, and all a bettor needs to produce a winning bet is to be on that end of the outcome.

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. 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. 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. A spread is the number of points that a team or competitor is expected to win or lose a game by.

Since the commission is -110, a bettor would have to wager $110 to win $100. A total, or over/under, is a bet on the total amount of points scored in a game by both teams combined. A bet on the over means that both teams must combine to score more than the indicated point total, whereas a bet on the under means that they must combine for less. If the teams combine for the indicated total exactly, then the wager is a push and all bets are voided and you get your money back.

Yes, you can put multiple moneyline sides in the same parlay bet. But keep in mind that choosing a couple or several favorites, especially heavy favorites, will not yield the same payout as if you were picking sides closer to even (-110) or underdogs. Note that the conversion from spread to moneyline varies from sports to sport. A 7-point win in an NFL contest is not quite the same as a 7-point win in the NBA. Under – The player bets that the total points scored by two teams will be less than a certain figure.

However, the most popular sport that linemakers put out lines for is the National Football League. Football is king in today’s world and it is easily the most talked about and bet on sport throughout the calendar year. Sportsbooks even go as far as putting out game lines for the following season starting in June – that’s two months before pre-season even gets underway. Most handicappers will confirm the notion that being great at betting on football feels greater than being good at capping any other sport. Football lines are typically the hardest to beat, since linemakers often make them their top priority as football typically draws the biggest handle. This line has now evened the playing field in the contest, meaning both teams now have an equal chance to win with the handicaps imposed.

Betting 101

Sometimes, the combined scores will land right on the total. In our example, if the score ended up being something like 34-32, then the combined score would be 66, exactly the predicted total. In these cases, no one wins the bet, and you would simply get your money back. To avoid these situations, sportsbooks will often set the total at a half number, like 66.5. This way, if the final combined score was 66, it would be an under, and a 67 would be an over. In our example, the FanDuel Favorites (-7) would need to win by at least 8 points to cover the bet.

But add that $30 up many times over hundreds to thousands of bets and you start to see the long-term difference it makes to your bottom line. In theory, the closing line represents the most accurate picture of the probabilities in the event. When the books become more confident in their numbers, they expand the limits. Again, most often the books follow the leads of the market setters with some small variation based on house risk. A market with +380 and -380 options represents a fair market, one with no vig – the implied probabilities add up to 100. The bookmakers want to turn a profit, so they include some vig, outside of maybe a few promo offers that may happen every now and then.

In the above example, let’s assume Bettor A wagers $110 to win $100 on the Cowboys, while Bettor B wagers $110 to win $100 on the Giants. The sportsbook has taken $220 in wagers on this game, but will pay out $210 to the winner . The $10 the sportsbook keeps is basically collected from the losing wager, and this is the most significant house edge it holds over the players.

You can use the formula below to calculate the potential winnings for any value you wish to wager.

A betting line is the number set by the sportsbook that helps to handicap a certain game or sporting event. These lines give each side a 50/50 chance to win the game, making for a tougher decision for the sports bettor. Almost all sports offer spread betting, but they behave differently depending on the sport.

Wait for all available information to come out then make your pick. Typically, that’s poured into a computer model, which pumps out odds. Most line makers have shifted toward this quantitative method. However, a few bookies still use their judgment to fine-tune betting odds. Online sportsbooks are all privy to all of their bettors betting history. As such, they know which accounts likely belong to “sharps,” or professional bettors.