Understand that negative odds indicate how much money your must spend to make $100. When betting on the favorite, you take less risk, and thus earn less. When betting on a favorite, the moneyline is the amount of money you need to spend to make $100 profit. In the previous example, in order to make $100 of profit betting for the Cowboys, you would need to spend $135. Like positive odds, you earn back your bet when winning.
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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.
The second number in our example (-110 for both teams) tells you how much you have to wager in order to win $100. It’s an easy way to calculate how much you’ll win if your bet pays off, presented in units of $100 at a time for simplicity’s sake. Most of the time, these two numbers will be the same, because oddsmakers want to set lines so that they get as much action on the underdog as on the favorite, guaranteeing them a profit. If a book gets a single bet of $110 (by a customer hoping to win $100) on the Cowboys and a single bet of $110 on the Giants, it will have taken in $220, but will only have to pay back $210 to whichever customer wins the bet. That’s a guaranteed profit of $10, and since sportsbooks take far more than a single bet in either direction, they stand to earn that seemingly small amount of profit many times over. The $10 difference between what you wager and what you win is known as juice or vig in the sports betting industry, and it’s the way books earn their bread and butter.
Betting on horse racing is all about deciding who is going to finish first, second and third. Things are always more fun when you can bet on them, and the trifecta allows you to do just that. The trifecta, which is also known at some tracks as a triactor, is a bet you win when you pick the horses that finish in the top three spots, and you pick them in the correct order. Read More >>
The line opened two weeks ago with the Los Angeles Rams favored by one point. It took about an hour for the line to swing to the New England Patriots. It settled at Patriots as 2.5-point favorites for most of the past two weeks at sportsbooks tracked by OddsShark. Bovada and William Hill both offered a field goal, although William Hill came down to 2.5 over the weekend.
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.
If bettors were quick to jump on the Atlanta line at +4.5 when it first came out, they would have a distinct advantage over those who waited closer to kick off and were stuck with +2.5. The opposite holds true for Carolina. Bettors that were quick to pull the trigger are now laying two more points than they would if they were patient and saw the line movement before making their move.
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.
I will painlessly explain all of the mysteries of sports betting 101 aka “Sports Betting for Dummies.” First of all, you have nothing to be ashamed of, you have taken the first and most important step of all – learning! Why waste money on a game that you don’t fully understand? You shouldn’t! That is why you are here now, to learn how it works and how to win!
The -110 on either side is like paying a tax or commission to the sportsbook. Bettors would pay 10 percent (aka juice) to the sportsbook, which is essentially a fee for brokering the wager. So, the -110 indicates that a bettor must risk $110 to win $100. Some sportsbooks will even reduce the juice for you which means you can earn the same $100 payout but risk less money to do it.
A point spread in sports is a figure set by oddsmakers to provide an advantage or disadvantage based on the margin of victory or defeat for a given team. The “favorite” team (labeled with a “-” sign) would be at the disadvantage as they would need to win the game by a set number of points while the “underdog” team (labeled with a “+” sign) would be given an advantage to not lose the game by a set number of points. The reason oddsmakers do this is to provide betting interest for both sides due to one team typically being better than the other.
Reading sports betting lines becomes easier with practice and experience with different sporting events. What looks like a jumble of letters and numbers actually gives a lot of information in a tiny amount of space. Different sports have different types of wagers available, such as the run line in baseball or the puck line in hockey, both of which replace the money line found in our football example. The more experience you have watching and gambling on different sports, the faster you’ll be able to read betting lines.
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 line of -160 means that you would have to bet $160 to win your base amount of $100. A team with a moneyline of -130 wouldn't be favored nearly as strongly as a team with a moneyline of -330.
The -110 listed is the actual odds given for these bets, and the odds determine how much you win based on the amount of your wager. This is why the odds are often called the price of a bet. When you see -110 odds, you need to bet $110 to win $100. Of course, you don't need to literally bet $110; that is just the ratio of the amount bet to the amount won. You can bet $11 to win $10, $20 to win $18.18, etc.
Totalizators. In totalizators (sometimes called flexible-rate bets) the odds are changing in real-time according to the share of total exchange each of the possible outcomes have received taking into account the return rate of the bookmaker offering the bet. For example: If the bookmakers return percentage is 90%, 90% of the amount placed on the winning result will be given back to bettors and 10% goes to the bookmaker. Naturally the more money bet on a certain result, the smaller the odds on that outcome become. This is similar to parimutuel wagering in horse racing and dog racing.
To understand what a trifecta wheel is in horse racing and sports betting we first obviously need to understand what a trifecta is. Luckily, that's simple - a trifecta is a bet you can make where you bet on the horses that will finish first, second and third in a race. In order to have a winning bet you not only have to pick the correct three horses, but also correctly pick the order in which they will finish. Because it involves three horses the trifecta is more difficult to win than a win bet or an exacta, so it usually has a much more attractive payoff as a result. Read More >>
Spread – also known as the line or point spread, it is generally thought of as the predicted margin of victory for one team. In reality, it's a number chosen by the oddsmaker that he feels will encourage an equal number of people to wager on the football underdog and the pigskin favorite. The negative value -13.5 indicates that team is favored by 13.5 points. The positive value +13.5 indicates that team is the underdog by 13.5 points. Betting on the favorite means the team must win by at least fourteen points to cover the spread. The underdog team can lose by thirteen points and still cover the spread.
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The rule against gambling in baseball is known as "Rule 21," which is publicly posted on dugout walls and states: "Any player, umpire, or club or league official or employee, who shall bet any sum whatsoever on any baseball game in connection with which the bettor has a duty to perform shall be declared permanently ineligible." People permanently banned from Major League Baseball are also forever banned from entry into the Baseball Hall of Fame, although most such people have been reinstated a few years later by a later Commissioner of Baseball. For instance, Mickey Mantle and Willie Mays were both banned from baseball in 1983 after taking jobs as casino greeters (which would have expelled them from the Hall of Fame had it been allowed to stand); they were reinstated two years later. Only Rose has yet to be reinstated.
While the National Basketball Association (NBA) was once active in preventing sports betting law relaxation, current NBA Commissioner Adam Silver became the first major sports leader to break from previous administrative opposition to gambling. In 2014 he stated in a New York Times op-ed, "I believe that sports betting should be brought out of the underground and into the sunlight where it can be appropriately monitored and regulated." In 2017, with support for legalization growing, he confirmed his belief that "legalized sports betting is inevitable".
*Betting $110 to win $100 obviously is not an even bet. The extra $10 (or 10%) is the sportsbook’s commission, also known as the vigorish or juice. This commission is reduced to 5% with 5Dimes and other reduced juice books, but this commission is found everywhere. You are given this back when you win, but is obviously kept by the house when you lose.
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.
This is a very common occurrence in sports betting and sportsbooks have the full right to shift the spread or odds for any given match prior to it starting. Many factors can influence a change of the spread such as injuries, the number of bets coming in for either team or the weather, to name a few. Depending on the timing of placing the bet, the bettor can also have an advantage or a disadvantage depending on which way the spread has shifted.
In an effort to have equal money on both sides of a wager, the sportsbook operator will move the point spread to attract money on the side that customers aren’t betting on. The odds for a point spread might change before the actual point spread. There are certain point spread numbers, like 3 and 7 in football, the sportsbook operators would like to avoid moving away from since they final score margin falls on these two numbers most often.
“The Compact Negotiation Act, NMSA 11-13A-1, et seq., authorizes the state to negotiate a tribal-state class III gaming compact pursuant to the federal Indian Gaming Regulatory Act (“IGRA”). Thus class III gaming conducted pursuant to a Gaming Compact is lawful in the state. Nothing in the Compact Negotiation Act qualifies or limits the term ‘class III gaming.’ Federal regulations issued under IGRA classify sports betting as class III gaming. 25 C.F.R. § 502.4(c).
When betting off the board a calculation will be made according to the odds on each event in the parlay. You will win the same amount as if you bet each event separately and parlayed all winnings as you went. An exception is if every event you pick is at -110 odds, in which case predetermined nice round odds will be used. Except for a three-leg parlay, these preset odds are not as generous as if the calculation method were used. For this reason, it is a good idea to have at least one event in the parlay that isn't -110, which will force the calculation method to be used.
Here you can see that the Rams are +3.5, while the Cowboys are -3.5. So for this example the Cowboys are 3.5 point favorites, while the Rams are underdogs of 3.5 points. If you were to bet on St Louis you would need them to lose by 3 or fewer points or just win the game outright. If you were to bet on Dallas you would need the Cowboys to win by 4 or more points.
What this spread means is that, for the purposes of wagering, the Chargers will have 3.5 points deducted from their final score. For a bet on them to be successful, they would therefore have to win by four points or more. The Colts, on the other hand, will have 3.5 points added to their final score. A bet on them would be successful if they won the game, or lost by 3 points or less.
Identify the favorite. Lines with a - before the number (i.e. -200) indicate the favorite. A -200 should be read as: "For every $200 wagered, I win $100." When there is a negative sign, the line should always be read with relation to 100. That does not mean you have to bet that much, it's just easiest to understand! When a + sign is present, just reverse the reading, always keeping reference to 100:
For example: If it is universally believed that Alaska State is better than Hawaii Tech, a standard win/loss wager wouldn't work, since most likely people would bet more money on Alaska State. Therefore, the Sports Book could put the point spread on Alaska State at 6.5 points. This would mean if you bet on Alaska State, not only would they have to win the game, they'd have to win by at least 7 points to make you a winner, otherwise a ticket on Hawaii Tech, even though the team might have loss, would be a winner.
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 casinos around the world contain a sportsbook. They usually feature several big screen TVs showing any live sports action currently taking place, and computerized odds boards displaying all the latest odds. There are typically cashier windows where you can place your wagers with a real person, but some books have interactive machines instead. Either way, these are great places to place some bets and watch the games at the same time. The problem for Americans, though, is that they are only legal in Nevada. There are plenty of sportsbooks in Las Vegas casinos, but not in other parts of the country.
Who will win the next Super Bowl? You can place futures bets at any time on the upcoming Super Bowl champion. Oddsmakers set lines and change them throughout the entire season, depending on a team’s success or lack thereof. For example, a first-place team in October may be +300 to win the title. This means a $100 bet would pay out a $300 profit if they go on to win the title. However, a 1-8 team may be set at +2000, where a $100 wager would pay $2,000 as a long shot. They can be profitable and it’s always fun to predict the winner so early in the season. Be careful, though — wagering a large amount on an NFL futures bet ties up your money for a long time.