The number-one key to success here (as it is with any type of sports bet) is understanding what value is and knowing when and how to take advantage of it. Value, in a nutshell, is finding sports bets that are paying you at a better rate than you think they should. If you place enough of these bets to overcome variance, you’re going to be a long-term winner.
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.
Remember earlier when we said that most point spread bets in basketball pay out at -110? Well, this is where the vig is located. Sportsbooks will work to get equal amounts of money on both sides of a game and make their money off of the vig. If they are successful in doing so, it does not matter to them who wins the game. For example, let's look at our earlier example. Here are what the odds would look like at the sportsbook:
For example: New England –2.5 (–110) or Philadelphia +2.5 (–110) means you’d wager $110 for the chance to win an additional $100 if you bet on the point spread. Depending on which side is receiving the most action, a sportsbook will often move the line up or down in order to incentivize betting on the less popular side. Injuries or unforeseen changes can also impact a point spread gambling line. Point spreads are often listed with a half-point (ex: 2.5) in order to prevent the final margin from landing exactly on the point spread (ex: 10-point spread, final score of 20–10). A “push” or “tie” usually goes to the house or sportsbook, unless another arrangement has been agreed upon beforehand.
The point spread - also called "the line" or "the spread" - is used as a margin to handicap the favorite team. For betting purposes, the oddsmaker predicts that the favored team will win by a certain number of points. This number of points is the point spread. The favorite is always indicated by a minus sign (e.g. -5.5) and the underdog by a plus sign (e.g.+5.5). If you bet on the favorite, you win your bet if the favorite wins AND their margin of victory is greater than the point spread. If you bet on the underdog, you win if the underdog wins, ties, or if the favored team wins but fails to exceed the point spread. It is standard for point spread bets in most sports that you wager $110 to win $100.
For beginning sports gamblers, moneylines (sometimes called money lines or American odds) can be confusing. Unlike point spreads, which are concerned with who wins and by how much, a moneyline is solely dependent upon who wins. Moneylines are used most commonly in low-scoring games like baseball or hockey, but they may also be used in boxing and other sports.
Having set the point spread, this is the point where the gambling public can influence the line. You might have noticed that a line five days before a game might look very different to the line an hour before the kickoff. Barring some major line-up changes due to injuries or suspensions, the line will most likely be moved by weight of money. If the majority of money is coming in on one side of the point spread, the book will move the line to make the bet a little less attractive, which will help them level the book up somewhat.
The house vigorish - and your chances of winning - get worse with the more teams you add. So while some sportsbooks will let you place a 15-teamer with astronomical odds, you probably have a better chance of being struck by lighting - twice - before winning one. You are much better off sticking to two-team parlays exclusively, if you insist on taking poor odds and placing parlay wagers.
What may look like a jumble of words, numbers, and punctuation is actually a precise and easy-to-read breakdown of the various odds and point spread details your book is offering. Here is a breakdown of each unit of information given above. Once you understand each part of the jumbled details above, you’ll be able to read a sports betting line with confidence.
Although the examples from above are in $100 increments, you don’t actually have to bet those exact amounts. That’s just how the odds are set up so that everyone is on the same page. With a quick glance at the numbers, you can tell who is the favorite, who is the underdog and what type of payout you can expect on each. You’re free to bet $5, $500 or whatever amount fits your budget. If you want to find out the specific betting limits for each option, browse through the betting sites rating guide in order to find the sportsbook that better fits your minimum and maximum limits.
When the point spread was invented in Chicago by Charles McNeil the money line took a backseat. When two unevenly matched teams played, the playing field was leveled by having the favorite give points (for example Chicago Bears –7) while the underdog got points (Minnesota Vikings +7). No matter which team the bettor took the bettor would always risk $110 to win $100. The extra $10 needed to win $100 is called the juice or the vig, it is basically the house’s or the bookie’s take. It’s 10-percent of the bet so it would take $33 to return $30 and $440 to return $400 etc. (winning bettors get the vig back).
When a betting line is listed, it will contain the moneyline and spread information. If there are two teams and there is a spread of +6 and -6, betting on the favorite, which is the – spread, the score must be greater than the underdog’s score to win. For example. The score between the Patriots and Bengals is 20 to 10. So, 20-4 is 14, which is greater than the 10 points earned by the underdog, so the bet will win.
For example, imagine a game where the odds were -550 for the favorite and +450 for the underdog. A bettor shopping around for lines might be delighted to see the same favorite offered at -490 and enthusiastically back the team at those odds simply because those are the best odds available. However, if we removed the vig from -550 and +450, we'd see that the fair odds are actually -466 and +466. So, placing a wager at odds of -490 doesn't actually offer any value.
Many novice bettors fail to understand the impact of home advantage when wagering on sport events. When looking at the board for potential wagers, these bettors tend to get excited and bet on lots of superior teams favored on the road against weaker opponents. The betting market is so much more advanced than this, and for the most part point spreads are always going to be 50/50 propositions.
We mentioned we would touch on the -3500 bet in this section. If you calculate the implied probability of -3500, you see that it is 97.2%. This means that the bet will have to hit 97.2% of the time for you to break even. Now, if you think that the bet is actually 100%, then it might be a smart bet to make. You’re still going to have to put up a lot of money to see any real sort of profit, which might not be desirable based on your personal preferences.
Understand that negative odds indicate how much money your must spend to make $100. When betting on the favorite, you take less risk, and thus earn less. When betting on a favorite, the moneyline is the amount of money you need to spend to make $100 profit. In the previous example, in order to make $100 of profit betting for the Cowboys, you would need to spend $135. Like positive odds, you earn back your bet when winning.
For those of you who are looking to better your bettor abilities when it comes to the NBA, this is where you want to be. We’ve picked the brains of all of our experts and compiled the tips and strategies they say work the best for beating the books betting on the NBA. While just reading these strategies is not going to make you an expert, it will put you on the right road to becoming one.
You've probably noticed by now that in the first game there are no odds posted in parenthesis to the right of each team. This means that the sportsbook is paying out both bets at the standard odds for a point spread bet of -110. Some sportsbooks will write the -110 in, and some will just leave it blank assuming that you know they will be paying out at the standard odds rate.
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.
It is a very good idea to shop around to find the best line when you are betting on sports. Books may offer slightly different lines, and you might be able to gain a point or half a point in your favor on certain markets. Consider an NBA game between the Heat and the Lakers – one firm has the Heat 9.5 point favorites and another have the Heat as 8.5 point favorites. You back the Heat with the second firm and they win by exactly nine points. Here you’ve gone from a loss to a win simply by shopping around, and in the long run this will make a big difference to your bottom line.
The optimal situation for bookmakers is to set odds that will attract an equal amount of money on both sides, thus limiting their exposure to any one particular result. To further explain, consider two people make a bet on each side of a game without a bookmaker. Each risks $110, meaning there is $220 to be won. The winner of that bet will receive all $220. However, if he had made that $110 bet through a bookmaker he would have only won $100 because of the vig. In a perfect world if all bookmaker action was balanced, they would be guaranteed a nice profit because of the vig.
For each NFL game the oddsmakers set a number of points in which the favored team is favored by. Bettors can then either choose for the favored team to win by more than the number of points set, or bet on the underdogs to lose by less than the number of points they are underdogs by or win the game straight up. For example, the spread could be set on the favored team at 6.5 points. This would mean in order for a bet on the favored team on the spread to win they would need to win by more than 6.5 points (7 or more) in order to win the bet. It also means that a bet on the underdog team would win if the underdogs lost by less than 6.5 points (6 or less) or won the game outright.
A Parlay is a wager which combines several legs in a wager where the winnings from each selection roll onto the next. For a Parlay to be successful, all individual legs in the Parlay need to be winning selections. In the event of a tie in one of your selections in a parlay, the parlay is reduced to the next lowest number of teams. For example, if you have a 4 team parlay and one of the selections is a tie (only on 2 way markets), the leg would be considered a "push". In this instance, the 4 team parlay would then become a 3 team parlay and would be settled at reduced odds to reflect a winning 3 team parlay.
The point spread is essentially a handicap towards the underdog. The wager becomes "Will the favorite win by more than the point spread?" The point spread can be moved to any level to create an equal number of participants on each side of the wager. This allows a bookmaker to act as a market maker by accepting wagers on both sides of the spread. The bookmaker charges a commission, or vigorish, and acts as the counterparty for each participant. As long as the total amount wagered on each side is roughly equal, the bookmaker is unconcerned with the actual outcome; profits instead come from the commissions.