For example, let’s say that two players are playing a tennis match and one player is +250. You think that this player has a MUCH better chance than that but still is an underdog. Most people would tell you that you are crazy to make a bet on someone that you think is going to lose. The thing is, though, underdogs do win and if you’re getting paid more than you should when they do, you’re going to be profitable. Here’s a simple math breakdown.
Bovada gives all first time college football bettors a 50% to $250 bonus when they make their first deposit which only allows you to wager on more spreads. Bovada welcomes USA players and has many great deposit methods to boot. Players are able to instantly add funds to their accounts using a variety of methods that include credit cards (Visa/MC/Amex), debit cards (Visa/MC), several brands of prepaid gift cards, cash wire transfers (Western Union + MoneyGram), and even payment through accepted Bitcoin wallets.
If you bet on sporting events, you must be able to read odds and understand what they mean. Furthermore, you need to quickly calculate the potential winnings for different bets, especially if the odds are changing while the event unfolds. Odds tell you the likelihood that an event will occur (a team wins, a boxer makes it a certain round) and how much will be paid out if you win. There are, however, multiple ways to convey this information.
You could even take it a step further and take the next rectangle down and bet Liverpool +1. This means that Liverpool can tie or win by any amount of goals and you win your bet. As Liverpool is a huge favorite, you won't be paid very well at all for this bet, but you can still turn a profit when you are right. You would be paid at 1 to 10 which means you would get $1 for every $10 you bet. If you bet $100, you would get a $10 profit on this bet.
The most common NFL spreads are usually set between about 2.5-10.5 points, but you will also almost always have games each week with spreads lower than 2.5 and higher than 10.5. In the event that the oddsmakers feel the game doesn’t need a spread, it would be set at 0 or what some call a pick’em (both teams are given even odds to win for this type of bet).
The point spread is basically used to create a 50/50 betting proposition. In this example, the Celtics are theoretically just as likely to win by six points or more as the Grizzlies are to lose by less than six points. This is reflected in the odds, which are typically -110 on both sides of the wager. You have to risk $110 for the chance of winning $100.
A lot of people who are new to online betting aren’t aware of prop bets, because a lot of brick-and-mortar sportsbooks just don’t have the resources to allow them. These bets are a great way for you to make some extra money off of predictions that might not have a direct outcome on the winner of the game. For example, let’s say you think that the Warriors are going to shoot lights out from the field, but you think for some reason they aren’t going to get a lot of looks and are going to lose the game. Your only option without prop bets would be to bet on the team they are playing against, but that might not be a great value bet.
The last type of handicap bet that we want to talk about is an Asian handicap bet. Don't worry, you don't have to be Asian to place this bet; it's open to everyone. This form of handicap bet is set up through the use of whole, and half number point spreads to ensure that no draws are possible. The difference between Asian handicap bets and no draw handicap bets is that the Asian handicap bets have the possibility of what is called a split handicap outcome. Your bet will have a whole number and a half number line that are treated effectively as two separate bets, but all in the same bet.
In sports like football and basketball, the moneyline is considered as the secondary option next to point spreads. Points spreads are the way that most people get their action in on basketball betting and football betting because the payouts are near doubling your money and it’s a fun way to handicap the game. Betting the moneyline in those sports is less popular because you might have some big mismatches and then it becomes too challenging to have faith in the underdog winning outright or too costly to bet the favorite.
One of the biggest mistakes that bettors make is trying to make a judgement on every single game that's taking place. This is especially true of those who only focus on the NFL. There aren't that many games each week, and bettors think they stand the best chance of making money if they can predict the outcomes in all of them. This is not an approach we recommend.
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.
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
There are four elements to the moneyline bet that you can see here. The first column is just an identifier of which bet is which for the sportsbook. When you place your bets, you can tell the sportsbook you want to bet on the Eagles to win or that you want to take bet 055. This number has nothing to do with the actual game and is just a code for the sportsbook to keep their bets organized.
Point spreads are more common in the United States, but you can see them throughout the world. A point spread, in theory, is the sportsbooks attempt to create a "level playing field." Let's look at an exaggerated example that will make this clearer. Let's say the New England Patriots are playing a game against a junior varsity high school football team. They're also using deflated footballs, and the Patriots get to see the high school team's playbook before the game. If a sportsbook were to allow you to bet on which team would win, everyone would bet on the Patriots as they would probably annihilate this other team.
In this example, we have a favorite to win, and an underdog. The Packers are the favorites, and that is shown by the (–) value in front of the 6. Underdogs are represented by the (+) value. The 6 point value is how many points either team could win, or lose by. If you think the Packers will win by MORE than 6 points, then you’d bet on the favorite in this case, meaning that the Packers have to win by 7 or more points in order for you to win your bet.