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.
The point spread, which is sometimes referred to as the “handicap”, is the number of points taken from the favorite, or given to the underdog, in order to open up the chances of either team winning the wager evenly. In most games, there’s usually a team that is more likely to win, based on a number of statistical factors. If the only kind of wager available was on who would win between a very strong team and a poor team, it wouldn’t be all that exciting. The point spread was designed to make betting much more interesting, since it allows a bet on the losing team to win you money. How? Let’s break down an example: