If you bet on sporting events, you must be able to read odds and understand what they mean. Furthermore, you need to quickly calculate the potential winnings for different bets, especially if the odds are changing while the event unfolds. Odds tell you the likelihood that an event will occur (a team wins, a boxer makes it a certain round) and how much will be paid out if you win. There are, however, multiple ways to convey this information.
In addition to knowing the basics of betting, you should also know at least the basics of football too. It's likely that most people reading this are big sports fans, and fully understand it, but that's not necessarily the case for all our readers. We like to cater for everyone, so we've written the following two articles explaining all about the game at both professional and college level.
The odds given on the spread are usually -110 unless otherwise noted. It is not uncommon to see one side of the spread being -105, with the other side being -115. If you don’t see any odds listed for each side of NFL spreads you are supposed to assume the odds are -110 on each. Not sure how to read NFL betting odds? Check out our Sports Betting Odds guide.
Once you understand how odds in college football are expressed, you can use them to start to determine where your money should go. Be sure to see our college football odds page that connects you with the top sportsbooks on the Internet. The odds makers are trying to even out all bets. Your job is to determine on which side of the point spread, line or over/under it goes.
Another form of futures betting involves the over/under on the number of games a particular team will win in the regular season. This type of wager is typically found on pro football and major league baseball, and sometimes on pro basketball. For example, the over/under on the Yankees may be 93 wins. If the Yankees go on to win 94 or more games, the "over" is a winner. If they win 92 or fewer games, the "under" is a winner. If they win exactly 93, the bet is a push and tickets are refunded.
To show how this can be exploited, take a point spread of -8.5 at odds of -110. This is a 50/50 proposition. Let's assume you've purchased enough points to move the spread to -6.5 at odds of -150. Now, you'd win instead of lose 6.24% of the time they win by 8, and 6.59% of the time they win by 7. Add these together with the 50% from the original proposition, and we get 62.83%.
Futures – wagers made in predicting an event in the future like next year's pro pigskin title. Oddsmakers produce lines during the year, depending on the strength or weakness of teams, then offer wagers on each team to win. For example, a league's top team may be +150 to win the championship. That means a $100 wager would pay $150 profit. However, a poor team might be +3000, indicating they are not expected to win and a $100 would pay $3,000 as a huge longshot.
The spread - The point spread is used in high-scoring sports like football and basketball. It is basically a handicap used to make all games competitive in the eyes of bettors. The spread gives one team an advantage of a few points. Standard notation for the point spread shows the favored team first, followed by a negative number (the actual spread). The home team is shown in capital letters. So if Buffalo was playing against Green Bay in Green Bay, and they were favored to win by seven points, it would look like this:
This arrangement tells us a lot: which team is home (listed on bottom, in this case the Seattle Seahawks), which team is the underdog (listed with a plus sign next to their name, in this case the New England Patriots), we know which team is the favorite (listed with a minus sign next to their name, in this case the Seattle Seahawks), and we know the point spread (2.5 points).
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.
As you can see above, the combined score for Superbowl XLV was 56, and since this line was offered at reduced juice, a wager on the over at 44.5 of only $105 would yield a profit of $100. This line closed at a high of 46 points at some books, demonstrating how the public, who tend to show a proclivity for high scoring games, can increase an O/U line.
Winning a game in a professional sports league of any kind can be difficult for even the best teams. Very few teams have gone through a season undefeated (only NFL Teams) and even then, not every win is as easy as teams hoped they would be - even the margin of victory is sometimes too close for comfort. Unfortunately for bettors, teams don't care how they win or by how many runs, goals or points, as long as they win the game. Read More >>
As soon as time runs out on the Super Bowl game this year, there are odds available on who will win next year. Wagers on a future event are known as NFL futures. Oddsmakers adjust lines during the year, depending on the strength or weakness of teams, then offer wagers on each team to win. For example, a league's top team may be +150 to win the championship. That means a $100 wager would pay $150 profit. However, a poor team might be +3000, indicating it is not expected to win and a $100 wager would pay $3,000 as a huge longshot. They can be profitable but also take a long time to settle the bet.
Once you understand how the NFL point spread works, you can make smarter choices when it comes to your NFL picks. The most important takeaway: It’s not you against the bookie. Think of NFL spread betting in terms of a marketplace, where customers tend to overvalue some teams and undervalue others. Figure out which teams those are, and you’ll find where the profit margin is.
Thanks to the modern language and a constantly updated Webster's dictionary, there is a word for pretty much anything you can think of. Furthermore, every study, no matter the obscurity has its own word to describe the resident expert. You know, words like paleontologist, botanist, astrologer, just to name a few. In the sports betting world, there are a few words that can be used to describe serious bettors who spend most of their time breaking down bets and looking for advantages that give them the best chance at winning their wager. The word I want to focus on right now is "handicapper". Read More >>
The New England Patriots are currently the favorites to win Super Bowl 53. The point spread opened with the Rams installed as a one-point favorite following the AFC Championship Game, but before the end of the night, the Patriots were a two-point favorite at most sportsbooks. The line has climbed to 2.5 points at most sportsbooks, with a couple going up to three points.
Point Spread: The point spread remains the favorite way to wager on pro football, regardless of how many new forms of wagering come on stream. ItÂ’s called the line or spread and itÂ’s known as betting Â‘sides.Â’ The common misconception is that Las Vegas sets the spread as its best guess at the margin of victory. But really, it's a number they feel that is a perfect balance and will see an equal number of people to bet the underdog as on the favorite. A negative value like -6.5 means that team is favored by 6.5 points. So deduct 6.5 points from their total score. A positive value on the same game would be +6.5 (add 6.5 points to their final score) and would make that team an underdog of 6.5 points. The favorite must win by at least seven points to cover the spread. The underdog can lose by six points and still cover.