In this example the Jets are listed as four-point favorites (-4) over the Bills and the 49ers are three-point underdogs (+3) against the Seahawks. So, if you bet $110 on the favored Jets, they must defeat the Bills by more than four points in order to win $100. If you bet $110 on the underdog 49ers you will win $100 if they win outright or lose by less than the three-point spread. If the final score happens to end up exactly on the number it's a tie, or 'push,' and you get your money back.
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.
We went into detail earlier about what causes moneylines to move. The better you can get about predicting when these movements will occur and in what direction, the more profitable you’re going to be as a sports bettor. If you find a bet that you like, but you predict it’s going to move more in your favor, you can intelligently wait to bet and lock up a potentially much more profitable opportunity.
You'll also usually be given the option to wager on the game with the money line in football and basketball. In this case, all you have to do is pick the winner of the contest, but there's one drawback. If you bet on the team that's expected to win, you can find yourself risking much more money than you stand to win. Each team is assigned odds, much like in a horse race where a 2-1 favorite will pay out much less than a 15-1 longshot. This method also evens the playing field for bookies, sportsbooks and other gambling institutions.
If all the money at one sportsbook comes in on Team A and all the money comes into a second sportsbook on Team B, they’re both going to adjust their lines accordingly to what is going on in their book. This means that if you want to bet on Team A, you should go to the second sportsbook where the line will be great. If you want to be on Team B, you should go to the first sportsbook where the line will be better.
You've probably noticed by now that in the first game there are no odds posted in parenthesis to the right of each team. This means that the sportsbook is paying out both bets at the standard odds for a point spread bet of -110. Some sportsbooks will write the -110 in, and some will just leave it blank assuming that you know they will be paying out at the standard odds rate.
"Winning Margin" (aka Result Betting) is where it is possible to bet on the final result of a game or event and select the correct ‘band’ of points between the winning team and losing team. For example, if you think the Patriots will win, but the game will be close, pick the New England Patriots 1-6 Points Winning Margin (where the Patriots winning by 1, 2, 3, 4, 5, or 6 points results in a winning selection).
The National Basketball Association (NBA) has always been a staple of the sports betting community. As a part of one of the big four sports, bettors have been working to develop systems to best the basketball betting industry for decades. Some have succeeded and enjoyed the spoils, while some have fallen. Our guess is that most of those who have fallen did so due to a lack of effort, a lack of information, or just no knack for the sport.
When betting on the favorite, simply divide the negative moneyline by 100 to get a decimal. If you were planning to bet on the Celtics in the above example, this would give you 2.40 (ignore the negative). Now all you have to do is divide your stake by that number in order to see what your potential payouts would be. Let's say you wanted to stake $650. When you divide that number by 2.40, you'd see that your potential payout is $270.83.
We go in depth on this in the advanced guide on understanding value that we referenced earlier, but we will give you a brief intro on it here. If you’re able to calculate the percentage chance that you have to win in order to break even, and you can figure out the percentage chance that you think you’re going to win the bet, you can figure out very quickly if there is value.
In this baseball matchup, the St. Louis Cardinals are the moneyline favorite. For the bettor to win $100, he will need to wager $150, risking $150 to win $100. If the Patriots lose, the bettor will lose his original stake of $150. The Pittsburgh Pirates are the moneyline underdog in this matchup. A $100 dollar wager will win the bettor $140, risking $100 to win $140. Again, if the Pirates lose the bettor will lose his original stake of $100.
The moneyline is different. First, with the moneyline whichever team wins the game pays out. There’s no giving or taking away of points. How do the bookies even the playing field with the moneyline? They do it by making bettors wager more on the favorite to win less and allowing them to bet less to win more on the dog. The favorite is posted with a minus sign and a number. That number represents the amount of cash that has to be wagered in order to win $100. The underdog, on the other hand, is listed with a plus sign in front of a number. That number shows how much a bettor wins when they bet $100.
Oddsmakers do more than pick the winners and losers of each game. They weigh myriad factors to determine which team is favored by how many points. They set an early point spread on each game, then adjust it up or down based on betting patterns. If the Dallas Cowboys are 6-point favorites over the New York Giants, they must win by seven or more points to pay off winning bets. If you wagered on the Giants, you win your bet if New York either beats Dallas outright or loses by five points or fewer.
The second way is “eyeballing it.” If two teams play 10 times, how many times do you think a certain team is going to win? If you say they are going to win 6 times, then you think they are going to win 60% (6/10) times. Looking at it as a series of multiple games makes it a lot simpler for you to grasp and predict. Then, you just convert that number to a percentage and compare it with the implied probabilities offered at the sportsbooks. If there is value, go for it.
Having a choice between the money line and the point spread gives the bettor more options. Consider a scenario where there is a strong favorite for a game. You might want to guarantee a smaller return by betting on the favorite to win on the money line – or you might want to almost double your money by betting on that team to not only win, but win by more than a certain margin. Conversely by backing the dog, on the money line you’ll receive a better return for your money but by backing the same team against the spread you have the insurance of still being able to win even if the team don’t.
Betting on sporting events has long been the most popular form of spread betting. Whilst most bets the casino offers to players have a built in house edge, betting on the spread offers an opportunity for the astute gambler. When a casino accepts a spread bet, it gives the player the odds of 10 to 11, or -110. That means that for every 11 dollars the player wagers, the player will win 10, slightly lower than an even money bet. If team A is playing team B, the casino is not concerned with who wins the game; they are only concerned with taking an equal amount of money of both sides. For example, if one player takes team A and the other takes team B and each wager $110 to win $100, it doesn’t matter what team wins; the casino makes money. They take $100 of the $110 from the losing bet and pay the winner, keeping the extra $10 for themselves. This is the house edge. The goal of the casino is to set a line that encourages an equal amount of action on both sides, thereby guaranteeing a profit. This also explains how money can be made by the astute gambler. If casinos set lines to encourage an equal amount of money on both sides, it sets them based on the public perception of the team, not necessarily the real strength of the teams. Many things can affect public perception, which moves the line away from what the real line should be. This gap between the Vegas line, the real line, and differences between other sports books betting lines and spreads is where value can be found.
Just like the minus and plus values on the point spread, those values designate underdogs and favorites in moneyline betting. In this case, Toronto is favored at -185 (bet $185 to win $100), and Baltimore is listed as the underdog at +165 (bet $100 to win $165). In explaining the concept of moneyline betting further, it might help to view the number 100 sitting between the favorite and underdog values: +165 +100 -185
In this guide, we’re going to teach you literally everything you’ve ever wanted to know about moneyline bets and then a whole lot more. Whether you are a beginner or a seasoned bettor, we’ve got something here for you. We’ll walk you through the basics of what a moneyline bet is, why you would want to make one, and how to interpret the different numbers, payouts, and presentation formats you’ll see.
These bets are less popular as of now, but most sportsbooks are starting to offer them as they are growing in popularity. The reason for the growth is that more people are starting to understand them and see that they can help you cut down some variance and risk, while still ensuring that there is no draw. The reason for the name is that these bets are growing extremely quickly in popularity in the Asian countries and betting markets. Most online sportsbooks are starting to offer these fairly regularly now.
Let’s say that a ton of bets pour in on the Mavericks. In order to encourage more bets on the Celtics and even things out, they might move the line to 5 ½. This means that a bet on the Mavericks would now win only if they won by more than 5 ½ points instead of 4 ½. This would discourage more people from betting on the Mavericks, as they would have to perform much better to get you the victory.
Shopping betting lines is one of the most important things you can do when betting point spreads in basketball. While the majority of sportsbooks will have the same line, it's fairly common that you can find lines that are a half or full point different. This can have a huge impact on your bottom line. If you don't think a half point or one full point makes that big of a difference, just ask anyone who has bet sports for a while. They will inform you that getting an extra half point is like winning the sports betting lottery.
This also comes into play on games that you think the line is correct. For example, let's say you think the line of Florida -7 is correct, so you elect not to bet it because there is no value. This doesn't mean you should never look at this game again. If the line happens to shift in either direction, you can make a bet that has value. If the line moves to Florida -6, you place a bet on Florida because you originally thought they would win by seven. If the line moves to Florida -8, then you place a bet on Arkansas at +8 because you originally thought Florida would win by seven and Arkansas would lose by seven. The next strategy tip is a good idea to help you be ready for these situations.
Let’s start with the basics: what do sports bettors mean when they talk about a ‘line?’ The word line, in the language of a sportsbook, can refer to either the odds and/or a point spread in any sports contest. Let’s take a look at an imaginary line the way you’d read it off the board sitting in a Vegas sports betting lounge or on the screen at your online book. Let’s imagine a game between the New York Giants and the Dallas Cowboys. Your book’s NFL betting line might look something like this:
Typically, if you’ve made a bet on sports in the past amongst friends or at the casino, you probably made a moneyline bet, and you didn’t even know it. “I bet you $10 the Broncos are going to win tonight.” That’s a moneyline bet. You may also hear the bet referred to as a to-win bet in some circles, but just know that they are referring to the same type of bet.
A wager on the Giants on the spread does not mean that New York has to win the game in order for you to win cash. All the G-Men have to do is come within 8 points of the ‘boys, and you’re a winner. You determine a winning or losing point spread by adding or subtracting 7.5 from the final score, depending on which side you laid your bet. If you’re confident that New York will at least come within a touchdown of beating the Cowboys, or beating them outright, then you’d wager on the spread in favor of New York.
As you can see, the public seems to think that Florida is going to win this game by more than seven points. If the game started now, the sportsbook would stand to lose a lot of money if Florida did in fact win by more than seven points. They would stand to make a lot of money if Florida lost or won by less than seven points. Regardless of how the sportsbook thinks the game will go, they are not in the business of gambling. They want to guarantee profit as often as they can.
‘Extra-Time’ wagers apply to 30 minutes of play according to the match officials, plus any added injury or stoppage time. However extra-time and penalty shoot-outs are not included. In ‘Extra-Time’ markets, wagers apply to the result during the extra-time period only. For the purposes of this market the score shall be deemed to be 0-0 at the start of the extra-time period.
Why is this important? If you’re only looking for a fun sweat, it does not matter at all. But, if you’re looking to be a winner and making money long-term is important, then this becomes critical. For those of you profit-minded bettors, make sure that you are only betting on the prop bets that require quite a bit of skill. These bets will be the ones that your knowledge, research, and expertise will help you win over the long run.
Placing a point spread bet means gambling on how much a team will win or lose by. In our above example, the Cowboys are the favorite. How do we know that? The minus symbol in front of the point spread indicates that the bookmaker thinks the final score will have Dallas winning by 7.5 points or more. The underdog, in our example that’s the New York Giants, will always be indicated with a plus sign. If you wager on the Cowboys on the point spread, America’s Team will have to win by at least 8 points for your wager to pay off. Should the Cowboys win by less than 8 points, your bet is lost.
With moneyline bets, there is no point spread to manipulate. Instead, the sportsbook will alter the payouts you’ll receive for a correct pick. The bigger the favorite, the less you’ll get paid. The bigger the underdog, the more you’ll get paid for a correct wager. This line will fluctuate as the sportsbook needs it to in order to encourage or discourage bets on either side.
Oftentimes you’ll see a point spread that has a half-point added to the number. Of course, there’s no such thing as half a point in a football game, so why do we so often see point spreads with a (.5) attached to the score? Sportsbooks do this to make sure there isn’t a chance of a push. Let’s take another look at our game from above with the half point added.