Before I go on, let me clarify some terminology. Despite it being probably the most popular way to bet, there is no particular term for a bet against the spread. Many people call this a "straight bet." However, this term can also be used, and is printed on tickets for, money line bets, total bets, and any other bet involving just one game. For purposes of this page, I call such bets a "point spread" bet, and invite the rest of the world to adopt this terminology.
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.
Odds are basically a way of leveling the playing field and in college football due to the fact that there are hundreds of mismatches per year the field really does need to be leveled. By utilizing odds in various ways bookmakers are attempting to get an equal number of wagers on each team. In doing so, they are able to ensure that they make cash no matter who wins.
If your sports betting experience consists mostly of office pools during March Madness or a casual wager between you and a friend while you watch the Super Bowl, the transition to serious sports betting means learning how to read betting lines. The biggest difference between making the kind of casual bets mentioned above and placing wagers with online sportsbooks or at brick-and-mortar bookshops is the use of sports betting lines. Casual wagers usually involve each person in the bet picking one team to win, then wagering an equal amount, say $20 or $30. Professional bookmakers, online sports betting exchanges, and sports betting facilities in casinos have a more complex system for offering wagers on sporting events, in part to ensure profit on the part of the book, and in part to present a standardized representation of odds.
In today's world, patience is a virtue that very few people have left in them. We live in a world with lightning quick internet, instant message and in a world where fast food reigns supreme. People love getting instant gratification. In the sports betting world, that also holds true. It's one thing to sit through a three-and-a-half-hour football game between two mediocre teams only to suffer a bad beat on a completely meaningless last-minute touchdown that does nothing but affect the point spread and burn your ticket. Read More >>
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.
The odds and lines for football games are not always the same at every bookmaker. They don't tend to vary by a lot, but they do vary. It's very much in your best interests to always try to place wagers where you can get the best value. A half point difference on a spread or a couple of points difference on the odds may not seem like a big deal, but over time these small differences can add up. By opening accounts with a few different sites, it's easy to shop around for the best odds and lines. This is one of the best ways to maximize potential profits.
--Fractional odds are most commonly found in racing. A 10/1 payout should be read "$10 paid for every $1 wagered." When the bigger number is on the left, you will find that bet is normally an underdog in the race. Also note, however, that in case such as "Who will win the Super Bowl in the NFL?" you will see all the teams listed as "underdogs"… i.e. paying at least 2/1 (some up to 300/1 or more).
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.
The odds listed are a primary way of gauging the play in the game. There are hundreds of mismatches every single year and the leveling of the playing field has been very helpful in resolving that particular problem. With the use of odds, bookies are able to acquire an equal number of wagers on each team, which assures them that they get money regardless of who wins.
Money Line: More common in baseball and hockey, pro football moneylines are growing in popularity. There is no spread, so your team just needs to win the game, not win by a certain number of points. The negative value means a favorite (-190) and a positive one indicates an underdog (+170). Picture the number 100 sitting in between these two values. Example: if you want to pick a -190 favorite, you must risk $190 in order to win $100. To back a +170 underdog, you put up $100 and win $170 if the dog wins. In some cases, betting moneylines is actually better value and can provide a bigger profit for less risk.