For years the sports handicappers at Maddux Sports have been making money for us and our clients betting the strongest sports picks on the Internet. Maddux Sports feels that in this industry the best sports handicappers can charge less for their picks than the big name scamdicappers. Maddux Sports makes its money from repeat sports bettors that know the value of their bankroll. Featured on:
Futures betting also is offered on the major events in horse racing, such as the Kentucky Derby and Breeders' Cup. In horse racing futures, if your horse does not start the race due to injury or any other reason, you lose the bet -- there are no refunds. On the other hand, the odds on your horse racing futures bet also are "locked in," regardless of the horse's odds on race day.
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.
The first thing you’ll notice with moneyline odds is that there is either a positive or negative sign in front of the number. What that sign denotes is how much you’ll win betting on each side. If there’s a positive sign next to the odds, that indicates the amount of money you would win if you bet $100. If the odds on a tennis player said +150, that means that for a $100 bet, you would win $150. Now if there is a minus sign in front of the odds, that is the number that you would have to bet in order to win $100. For example, if a football team was -250, that means you’d have to bet $250 to win $100.
In our earlier example, the sportsbook would be devastated if 100% of the action came in on the Falcons. The book is not looking to gamble; they are looking for a sure thing. So, to try and entice more people to bet on the Bear Cubs and discourage people from betting on the Falcons, they will alter the payouts. They will make the amount you win for correctly selecting the Bear Cubs much larger and the amount that you win for correctly selecting the Falcons much smaller.
Betting on the point spread is completely different from betting on teams to win a game outright. Known as "betting on the moneyline", instead of using points to handicap each side of the wager, the sportsbook will use greater payouts versus the amount risked to reflect their relative perceptions; teams not expected to win (underdogs) pay more, sometimes exponentially, than when betting on the favorite to win when wagering on moneylines.
This highlights a notable advantage of the moneyline wager. You get to control, to some extent, the risk versus reward. For example, you might be quite certain that the Cardinals are going to win this game, but not convinced that they're going to cover the spread. So a moneyline wager is the safe option. There's less money to be made, but less chance of losing. On the other hand, you might think that the Packers are going to cause an upset. Rather than betting on them to cover the spread, you can bet on them to win outright. There's less chance of winning such a wager, but the potential returns are much greater.
That was all before Charles McNeil, a math teacher from Chicago, invented the concept of the point spread. An avid gambler, McNeil created what he called “wholesaling odds” and started his own bookmaking operation in the 1940s. He started out offering this new style of betting on football, but his business model grew to include basketball. McNeil changed the way sports betting was done, and his legacy lives on today in what we now call the point spread.