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!
So how do you win? At the end of the first quarter, halftime, third quarter, and final score whatever the score is will be awarded to the person who owns that square. If the score is 17-10 at the half with the home team winning, the person with the squares of 7 and 0 would win that portion of the game. Having the squares 0 and 7 would not help because it would be assigned to the wrong teams. Usually the total money is divided by 5, and is paid out as follows. 1st quarter, Halftime, and 3rd quarter all get a 1/5 of the total bank and the Final Score doubles this to 2/5. So if you were involved on a $5 dollar pool and all 100 squares were filled that would be $500 to be paid out. With that number you would get paid $200 for final score and $100 for all other scores.
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.
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.
If you wanted to bet the underdog Orlando to win the game, their money line odds are +280. Whenever a "+" is listed for odds, the number after it is how much you will win for betting $100. So in this example, a $100 bet would win $280 if the Magic win the game. This definitely seems like a way better deal than betting $340 to win $100, but remember that Orlando has a small chance of beating the best team in the league. Some bettors may see value in this, but you should never blindly bet an underdog - or any side for that matter (just talk to the thousands that bet on Conor McGregor last August).
This is different from a moneyline, where payouts can vary greatly because there is not point spread that is installed. It is simply picking the winner straight up. Therefore, a bet on the favorite would not profit as high as it would betting the spread since no points are given. Payouts on the point spread are not always the same, but they do not vary like a moneyline.
When you’re looking at over under bets, what you need to know is that that’s the combined score of the two teams for a game. In this case, it doesn’t matter who wins the game. All that matters is the final score. For example: let’s say that the New York Yankees are playing the Boston Red Sox and the total is 9.5. It doesn’t matter who wins the game but if the two teams combine for a total score of eight runs, say with a final score of Boston winning 5-3, then the game goes under. Or if the two teams combined for 10 runs – no matter who wins – then the game goes over. So when you’re looking at the odds and you see a total next to the moneyline or point spread, that tells you the over-under that is set for the game and you have to decide whether it will go over that set amount or under.
Nothing says "summer" better than a trip to the racetrack and several ice-cold drinks while basking in the sun and skimming through the dailyracing program. Unfortunately, only a small amount of the betting public actually knows how to dissect the program properly which gives them a bit of an edge when it comes to placing their wagers. Most amateurs or leisure bettors stick to the simple bets like win, place or show despite the potential of a massive payout when playing the exotic bets. The exotic bet I will teach you about today is the popular trifecta bet, also known as a "triactor" at some tracks. Read More >>
Now that you have the basics down, there is only one thing left to discuss – where to bet that is safe. I strongly recommend that you start by wagering on only one pick per day. You don’t want to spread yourself too thin and have your hand in every match available. If you bet that way, you will surely get nickel and dimed out of your bankroll. Spend time studying the teams and choose your best selection available. Decide on a budget of how much you are willing to risk. Now you need a reputable online sportsbook (online sports betting site) to do business.
If you bet on the point spread, you’ll often see -110 placed next to each betting option. That means that you have to bet $110 to win $100. The $10 difference is effectively a fee you are paying to place the bet. It can be referred to as the juice or the vig (short for vigorish, which originates from the Russian word for winnings). If there is an even amount of money bet on both sides of the line, the juice guarantees a profit for the house.
For reading the fraction odds, I strongly recommend converting them to a decimal. This will make figuring out your potential win much much easier! To do this, just like in 2nd grade, you take the first number and divide it by the second. So if your odds read 7/4, you simply divide (7) by (4), which equals 1.75. That is the decimal form odds, now you simply multiply (1.75) by whatever your wager amount is to figure out your potential profit. In this case, if you were to risk $100, then your potential win would be $175 profit if you are correct! Also, you will receive your initial bet amount of $100 as well, for a total of $275 in your hand.