As we did with the underdogs, we need to figure out how much we will profit for each $1 that we wager. For underdogs, we divided the moneyline number by 100. For favorites, it is the exact opposite. We will take 100 and divide it by the money line number. So, for this example, we will take 100 and divide by 155 and get about $0.645 or about $0.65 in profit for every dollar that we bet.
This is a very common occurrence in sports betting and sportsbooks have the full right to shift the spread or odds for any given match prior to it starting. Many factors can influence a change of the spread such as injuries, the number of bets coming in for either team or the weather, to name a few. Depending on the timing of placing the bet, the bettor can also have an advantage or a disadvantage depending on which way the spread has shifted.
If you've never set foot in an actual sportsbook before or logged into an online sportsbook, the chances of you getting overwhelmed when you actually do is very high. In an actual Las Vegas sportsbook, there is typically a lot of commotion and the odds and lines are displayed on a massive digital board for everyone to see. When a novice sports bettor looks at the massive digital signage, they will see a bunch of numbers, both positive and negative, some two digits, some three digits. They also won't have a clue what any of it means. The same can be said for the online sportsbooks. It looks like a massive spreadsheet with negative and positive numbers beside each teams' name.
Moneyline bets will move the line based on the amount of money coming in on each side of the bet. It has nothing to do with who the sportsbook really thinks is going to win the game and everything to do with that delicate dance of getting the right money on both sides. For example, let’s say that the line for the Magic and Mavericks game is the following:
Point spreads are determined by football 'experts' to even the playing field between two teams. Normally one team will be favored to win over another team. These 'experts' determine the number of points that one team will beat another team by. For example, Chicago is favored to beat Minnesota by 10 points. On the web site it will appear like the following:
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.
One way to make money from sports betting is to open an account at an online betting site and take advantage of their sign up bonus. This gives you extra money to wager with, and since point spreads are so straightforward, it can be relatively easy to meet the associated wagering requirements and still come out ahead. Repeating this process at multiple betting sites will maximize your potential returns! We just ask that you please stick with reputable sites, like any of the ones that we recommend.
This is the format that terrifies people the most. We can promise you that fractions aren’t as scary as they seem if they’re explained properly. Here is the easiest way to calculate your profits and payouts with fractional odds. Solve the fraction and then multiply that number by your bet size to get your potential profit. If you can’t remember how to solve fractions, it’s ok. Don’t look at it as a “fraction” but more as a division problem. 13/20 is the same as 13 divided by 20. 29/20 is the same as 29 divided by 20.
You don’t have layers of complexity to fight through to see if your prediction is a positive expected value move (one that is going to make you money). With some simple mathematical calculations, you can figure out whether or not there is value in a bet. Even if you don’t like math and would prefer not to use it when assessing value and making your picks, it’s still much easier to “eyeball” value with moneyline bets because of the simplicity.
Here you can see that the Rams are +3.5, while the Cowboys are -3.5. So for this example the Cowboys are 3.5 point favorites, while the Rams are underdogs of 3.5 points. If you were to bet on St Louis you would need them to lose by 3 or fewer points or just win the game outright. If you were to bet on Dallas you would need the Cowboys to win by 4 or more points.
This is four different games you can bet on, right? Wrong. These are several different handicap bets that you can make on a single game of soccer. Each of the individual rectangles is the same as the point spread bets we talked about earlier. For example, the first rectangle is betting on Liverpool at -3, getting paid 6 to 1. This means that if you take this bet you need Liverpool to win by four or more goals and you will get paid 6 to 1, or $600 for every $100 you wager.
Linemakers who work for the sportsbooks must put out lines that will entice the "favorite" bettors to lay the points and take the favorite or entice the underdog bettors to take the points with the underdog. Because each sportsbook is operated under their own rules, guidelines and stipulations, they are free to put out whatever line they feel is competitive and charge whatever vig they want to based on how much action that specific line is taking.
While we aren't exactly sure at which dollar amounts or what formulas sportsbooks use to determine when they shift the lines, we do know why they do it. It is their attempt to minimize their risk as much as possible and guarantees sportsbook profit. Lines will also move if something major happens (like Lebron breaking his leg or something) so keep an eye out for this. Ultimately, the shift in the line is done for the exact same reason to keep the same amount of money on both sides of the game. As you'll see in the strategy and tips section, shifting lines do present some interesting opportunities for sports bettors.
Here’s a less extreme example. Let’s say that Fighter A is fighting Fighter B and you think that Fighter A is going to annihilate Fighter b. Like you don’t even think it’s going to be close. Let’s say you decide that you would be willing to bet even if the odds were -400 on Fighter A. You’d only be getting $25 back on your bet, but that’s what you think is fair.
If the implied probability says that you have to win a bet 40% of the time to break even, and you think you’re likely to win the bet 45% of the time, then there is value in the bet. Remember, the sportsbook pays you more the less likely something is to happen. This means you’ll be getting paid as if the bet is only going to hit 40% of the time (more money), but the bet actually hits 45% of the time if you are right.
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.
Another popular form of golf betting involves matchup propositions, in which two golfers are paired against each other in a head-to-head wager, with a betting line on each golfer set by the oddsmaker. The golfer with the better (lower) score wins the matchup. (If one golfer continues play in the tournament after his opponent misses the cut, the golfer who continues play wins the matchup.)