Apply the money line. It's easiest to think of money lines in relation to $100. A minus sign means you have to bet that much money in order to win $100; a plus sign means that a $100 bet will return that much money. If you bet on Chicago at -110, you'll have to wager $110 in order to get back $100 (plus your original $110). If you bet on Detroit at +145, then a $100 bet will give you $145 (plus your original $100).
The handicapping, sports odds information contained on this website is for entertainment purposes only. Please confirm the wagering regulations in your jurisdiction as they vary from state to state, province to province and country to country. Using this information to contravene any law or statute is prohibited. The site is not associated with nor is it endorsed by any professional or collegiate league, association or team. OddsShark does not target an audience under the age of 18. Please visit gambleaware.co.uk or gamcare.org.uk for guidelines on responsible gaming.
When betting on American sports such as NBA or NFL, there are usually two main categories that appeal to punters. These are the point-spread or the moneyline. With spread betting there is a 50% chance to win on either side since the spread is actually a handicap that is given to the underdog to even out the chances for both teams on a game or a match. The majority of the time, punters will win just about the amount they bet on a point spread. Moneyline bets can be a bit more complicated and there is no point spread involved. In fact, it is a simple bet to place as one will simply be choosing who will win the game.
On a moneyline bet of -300, you’ll need to win your bet 75% of the time just to break even. When your odds jump even higher to -400, you’ll need to win your bet 80% of the time to show a profit. You are risking a lot to win very little and even though a large favorite will win most of the time, when they do lose, you will find yourself out a lot of money. I try to stay away from large favorite moneylines, because the amount risked is very high and the payoff is low.
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.
Spreads are frequently, though not always, specified in half-point fractions to eliminate the possibility of a tie, known as a push. In the event of a push, the game is considered no action, and no money is won or lost. However, this is not a desirable outcome for the sports book, as they are forced to refund every bet, and although both the book and its bettors will be even, if the cost of overhead is taken into account, the book has actually lost money by taking bets on the event. Sports books are generally permitted to state "ties win" or "ties lose" to avoid the necessity of refunding every bet.
A point spread (or line) is a tool used by sportsbooks to attract wagers on both sides of a game. The line is most commonly used in football and basketball games. Because it’s rare for two teams in a pro sports game to be completely evenly-matched, one team will have an advantage, another will be seen as the underdog. The point spread is the handicap offered to the underdog to level the playing field, so to speak.
On the other hand, underdog moneylines can be lucrative wagering opportunities. Upsets happen more often than some of us think and moneyline betting is a great way to take advantage. For example, for a moneyline wager of +250, a bettor will only need to win about 28% of the time to break even and for a +300 wager the bettor would only need to win 25% of the time to break even. If you can spot upsets even decently well, moneyline wagers on underdogs can be profitable bets.
Typically hockey is not a popular sport when it comes to point-spread betting because most games are decided by only a goal or two. Sports like football and basketball are better for point-spread betting mainly because they are higher scoring sports. However, Proline does offer NHL point-spread betting and it can get confusing so let’s take a look at how it works.
Since draws are more common in soccer, most soccer markets offer 3-way spreads. When making a Soccer Spread wager, the team you wager on must cover/beat the goal spread. This means that the favored team must win by more than the outlined number of goals or the underdog will receive that number of goals as a head start. If you wager on the spread draw, you are wagering that the game will end in a draw when the spread value is applied to home team. (The team displayed first)
You may have noticed that we said earlier that it’s the amount of money bet on each side that is important to the sportsbook and not the number of bets. This is an important distinction to understand. If 100 people bet $10 on Team A, and then one person bets $10,000 on Team B, the line is going to shift to attract action onto Team A. Even though more people bet on Team A, more actual money came in on Team B.
The money line bet always relates to bets of $100. A favorite will be represented by a negative money line figure such as -180. This means that in order to profit $100 off your winning bet, you would need to risk $180 dollars. But as I’m sure you already know, you can risk any amount you are comfortable with and the payment (should you win) will be in proportion to the odds. For example, a $50 bet on a -180 line would win you $27 dollars.
Two possibilities existed for Seahawks backers at this point – either the team would win the game by at least three points or not. There was no possibility for a push, thanks to the use of a half-point. It’s impossible to score a half-point in football, so thanks to the magic of rounding, there’s no room for a tie outcome. Those who backed the Patriots were looking at two possible outcomes, too – either New England would pull off the upset or they would lose by just a point or two. Both would turn out in a win.
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.
This is a type of betting line which lays out the amount a player must wager in order to win $100.00, or the amount the player wins on a wager of $100.00. There is no point spread or handicap in this line. In order to win a moneyline bet, the team wagered on simply has to win the game. Payoffs are based on true odds rather than fixed odds. The amount the player lays or takes may vary from game to game.
In general, the betting public tends to gravitate towards favorites when betting the games regardless of the actual pointspread. This is especially true with high-profile teams such as Dallas and Green Bay in the NFL and Golden State and Cleveland in the NBA. The sportsbooks are well aware of this phenomenon and often times they will adjust the betting spreads accordingly. This, in turn, actually adds some value to the underdog when you consider that a pointspread is nothing more than a handicapping tool that is designed to even out the match.
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.
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.
Moneylines have a tendency to move quite a bit in both directions leading up to a game, match, or fight. It’s a delicate dance that you’re going to have to master if you want to find value and push your edges to the max. Sports betting is a profit source that is all about small edges. Finding and being able to capitalize on these small edges is the key to being profitable long-term.
Earlier, we explained how the implied probability of -240 is 70.59% and how the implied probability of +210 is 32.36%. Notice these two probabilities total 102.95%. The extra 2.95% is the bookmaker's advantage. It's called vig, and it's basically a commission that they charge customers for placing wagers. By removing the vig, you can see what the fair odds on the game would be.
The betting public as a whole is not very smart. There is a reason it is such a lucrative business to be in for the sportsbooks. The public loves to bet popular teams, great story lines, and trends that don't have a lot of merits. If you think that the public is going to bet a lot and shift the line more in your favor, just wait. In these situations, the worst that might happen is the line doesn't move, and you then take the bet right before the game at the original line that you still thought had value. Yes, there is a possibility of the point spread moving the other direction. If this happens, you just don't make a bet on this game and wait for the next one.
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.
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.
According to an article in The Times dated 10 April 2009, approximately 30,000 spread bet accounts were opened in the previous year, and that the largest study of gambling in the UK on behalf of the Gambling Commission found that serious problems developed in almost 15% of spread betters compared to 1% of other gambling. A report from Cass Business School found that only 1 in 5 gamblers ends up a winner. As noted in the report, this corresponds to the same ratio of successful gamblers in regular trading. Evidence from spread betting firms themselves actually put this closer to being 1 in 10 traders as being profitable, with a high number of clients suffering from the volatility that is supposed to be one of the benefits of spread betting.
You may have heard the term “covering the spread” or the phrase “betting against the spread.” This means that if the favorite team wins an event with the point spread taken into account or that the underdog team wins with additional points, they have covered the spread. If the Packers win that game by more than 7 points, they have covered the spread.