Of course, it wouldn’t be. Everyone would bet on Mike Tyson, and the sportsbook would lose all of their money and close the next day. So what the sportsbooks do is they assess who is the favorite and who is the underdog and assign a value to how much in each direction they think they are. Let’s look at what the odds might look like for our fictitious fight and break down what everything means.
Sports betting has become a popular pastime and with the offering of many online sportsbooks, punters from all over the world can engage in exciting betting action and can have amazing opportunities to collect payouts. There are many different types of bets that are supported at betting sites and most punters will be familiar with moneyline and spread bets. These are the two most popular betting options for experienced punters, so they are options at just about every operating sportsbook.
If you’re betting in a brick-and-mortar sportsbook, though, you’re going to have to figure this information out yourself. The book will print on your ticket how much you stand to win, but they aren’t going to let you come up and ask a million times what the payout is going to be. You’ll need to calculate it yourself (or head online to place your bets).
The second number in our example (-110 for both teams) tells you how much you have to wager in order to win $100. It’s an easy way to calculate how much you’ll win if your bet pays off, presented in units of $100 at a time for simplicity’s sake. Most of the time, these two numbers will be the same, because oddsmakers want to set lines so that they get as much action on the underdog as on the favorite, guaranteeing them a profit. If a book gets a single bet of $110 (by a customer hoping to win $100) on the Cowboys and a single bet of $110 on the Giants, it will have taken in $220, but will only have to pay back $210 to whichever customer wins the bet. That’s a guaranteed profit of $10, and since sportsbooks take far more than a single bet in either direction, they stand to earn that seemingly small amount of profit many times over. The $10 difference between what you wager and what you win is known as juice or vig in the sports betting industry, and it’s the way books earn their bread and butter.
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.
Another form of futures betting involves the over/under on the number of games a particular team will win in the regular season. This type of wager is typically found on pro football and major league baseball, and sometimes on pro basketball. For example, the over/under on the Yankees may be 93 wins. If the Yankees go on to win 94 or more games, the "over" is a winner. If they win 92 or fewer games, the "under" is a winner. If they win exactly 93, the bet is a push and tickets are refunded.
A money line, used in baseball and hockey, takes the place of a point spread. Money line betting is simply wagering on the contest based on a given price rather than a point spread. The team wagered on has to win the game outright, regardless of the score. The minus sign (e.g.-130) always indicates the favorite and the amount you must bet to win $100. The plus sign (e.g.+120) always indicates the underdog and the amount you win for every $100 bet. Using this example, therefore, you would bet $130 to win $100 on the favorite, while for the underdog you would bet $100 to win $120.
It's also important to consider whether or not there's any correlation between the point spread and the betting total. If they are, a parlay wager is a good way to get maximum value. For example, a college football point spread +24.5 parlayed with under 48 points in the same game might be a great parlay bet. If the +24.5 team covers the point spread, then there's an increased chance that the game also goes under the posted total of 48.
Because the Blue Jays are favored, the sportsbook needs you to risk more to bet on them. After all, they should win this game. So wagering on baseball favorites with moneylines calls for you to risk a certain number ($185 based on -185) in order to win $100. On the other side, the sportsbook is also willing to reward you for taking the underdog, so they give you an incentive to bet on the Orioles. In this case, you would risk $100 in order to win $165 (+165) on Baltimore.
Changes to the lineup for a game will have a big effect on the moneyline as well as any other bets you’re looking to place on that game. If a superstar is suddenly out, it’s going to have a big change on where the money is coming in, which will inevitably cause a big shift in the line. Sometimes the sportsbook will even adjust the line preemptively if they anticipate a large change in where the money is going to be coming in on a particular game.
If you're seeing 15 or 25 instead of 15/1 or 25/1, you're seeing a decimal form of odds, as opposed to fractional. Multiplying your stake by decimal odds gives your total return, not your profit(which is total return -stake). To get to fractional from decimal, add 1. So 3/1 fractional = 4 decimal (just 4). 4/6 frac = (4/6+1) dec = 10/6 = 5/3, or 1.666, which is rounded to 1.67 by bookies. To go from decimal to fractional, subtract 1(which makes sense from profit = total return - stake) So 15 dec = 14/1 frac. 2.33... dec = 1.33/1, or 133/100.
The key here is to target the point spread five and seven, because these are virtually tied as the most common margins of victory. It's important to recognize that most betting sites are only willing to sell 2 or 3 half points for 10 cents each, after which point they start charging more. Some sites sell up to four half points at this price though.
Spread betting is one of the most popular forms of betting for sports enthusiasts and it involved speculating the outcome of a game or a match and trying to guess what the score will be and what he spread is between the two final scores of the game. With sports betting, spread bets allow punters to bet on if a team’s final points are higher or lower than a projected total. Many pointers rely on tips when they are spread betting. The first is that punters should always choose an even bet and make sure it is one they are comfortable with. Always take time to learn the stats and performance record for the teams involved so an education decision can be made.
Overtime and the shoot-out does count for NHL point-spread results in Ontario. Whenever you see a game -0.5 essentially both teams have a spread of -0.5 and your team has to win the game for you to win the bet. Lately there have been more -1.0 / +1.0 NHL spreads in Ontario. If you choose the -1.0 spread and the game goes to overtime you cannot win the bet. You can only push the bet if your team wins in overtime or the shoot-out. Conversely, if you choose the +1.0 spread and the game goes to overtime you cannot lose the bet but will push the bet if your team loses in overtime or the shoot-out.
Let’s say that the Mavericks and the Magic are playing in an upcoming game, and both teams are equal counterparts. Let’s say that the odds for that game are as follows. You will never see these odds, though, because in this example, the sportsbook is not set to make any money if they achieve their goal of getting money on both sides of the bet. But we need to look at it for you to better understand things.
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.
In the UK and some other European countries the profit from spread betting is free from tax. The UK and some other European countries tax authorities designate financial spread betting as gambling and not investing, meaning it is free from capital gains tax and stamp tax, despite the fact that its regulated as a financial product by the Financial Conduct Authority in the UK. Most traders are also not liable for income tax unless they rely solely on their profits from financial spread betting to support themselves. The popularity of financial spread betting in the UK and some other European countries, compared to trading other speculative financial instruments such as CFDs and futures is partly due to this tax advantage. However, this also means any losses cannot be offset against future earnings for tax calculations.
Some people consider sports gambling a disease which is why it is outlawed everywhere in the United States besides Las Vegas. However, many Americans still bet on sports illegally with various overseas bookies. Because of this, many Americans believe sports gambling should be made legal throughout the United States because the country is missing out on millions of potential tax dollars by sports gamblers using overseas bookies.
Below we have also put together an infographic explaining all of the information on this page. This is a useful tool for someone who wants to see a visual explanation of how to calculate your payouts when using moneyline odds in your betting. You can save this graphic for your own personal use or use the embed feature to put it up and share with others.
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.
With NFL odds the over/under can vary but usually it’s somewhere between 35 and 47 points. Let’s say in the Colts and Bengals game that the total is posted at 37.5. If Indy scores 27 and Cincy gets 13 points, the total would be at 40 and the over would win. But if the Colts rack up 35, and they shut out the Bengals, the total of 35 would be under.
Understanding NFL betting lines is just the first step towards making profits with football wagering. Once you've got the basics down, it's important to continue learning sports betting strategy to improve your long-term chances of winning. If you're able to win more than 52.4% of the time, you'll be well on your way towards being a profitable NFL bettor.
The money line bet is the simplest form of betting in the industry. A “money line” bet is a way of betting on which team is going to win the game outright, or which individual will win an event. With a money line bet, the margin of victory or the total number of points a team scores do not matter. If you like the Patriots to win outright versus the Browns, a 3-0 win would win you just as much money as a 77-0 win.
If you were correct though but getting paid at the sportsbooks rate, you would lose the bet 55.6 times (-$5560) and win the bet 44.4 times (44.4 x $250 = $11,100). You would profit over $5,000 for betting on bets that you thought you were going to lose! This is finding value. Value bets are great as a part of a long term winning strategy and are the key to conquering the “simple” moneyline/win bets.
The term moneylines can have two definitions: a type of bet and also the odds attached to certain bets. Starting with the type of bet, moneyline bets simply focus on the outright winner of a game. With point spreads, you have to consider a margin of victory. With totals, you’re looking at the combined score of the two sides involved in the game. But if you’re betting on the moneyline, your only focus is who will win the game outright. There is no tying; just winning or losing. But there is more to understanding the moneyline, including the odds and what they tell you. Read on below to get a better idea of how they work.