Sports handicapping is something that’s indulged-in by professional odds makers, who’re experts at weighing the relative odds of different contestants participating in sports events and predicting their possibility of winning those events. The new age gambling industry employs many different methods of assigning odds to a particular race, match or a game. We’ll go over some of the most commonly employed odds formats used in new age sports betting and would like to acquaint the prospective gamblers with different betting systems. The three specific betting odds formats we’ll discuss here are the money line bets, point spread bets and over/under bets, as anyone who is looking to indulge in online gambling would inevitably have to deal with these formats. Then we’ll go over some of the popular betting systems too. You can place all such bets directly with bookmakers like Bet365 etc.
Betting Odds Formats
Point spread bets
These are the bet types that you may have probably come across in the mainstream newspapers, in their entertainment sections. These type of bets are rarely about predicting the team or player who’s going to lose/win a match/game, but more about the underdog getting the points or the favourite covering the spread. So, for instance a point spread may possibly read -8 for the favourite and +8 for the under-dog. This implies that you’ll need to either subtract 8 points from the actual score of the favourite or add 8 points to the actual score of the underdog to determine the winner of the bet.
As a result, these bet types bring about plenty of excitement and thrill to the games, simply because if a favourite who’s 4 points ahead at the 4th quarter’s mid-point, has the chance of:
- Scoring a touchdown for a bettor to win his/her bet,
- Scoring a field goal to push the bet, or
- Being stopped from scoring a goal and hence losing the bet despite having won the game
It’s the point spread that makes bets fair for both the underdogs as well as the favourites, as the comparative strengths of a player or team are ‘handicapped,’ thus giving both the sides an equal chance of winning. However, gamblers always think that they can locate the soft point spreads that aren’t handicapped the right way, allowing them to side with the bet that’s receiving plenty of points. It’s pretty amazing for the bettors to witness how frequently the sports books can get closer to the point spread!
Moving the point spread
On certain occasions, after the announcement of a point spread, most of the gamblers opt to move their wagered money on either side of the betting option.
The odds makers normally demand 50% of the wagered money to be placed on one team/player and the remaining 50% of it on the other team/player, so they can make sufficient money in the form of betting fee.
In the event that large sums of money is wagered on either side of the equation, the sports books such as Bet365 and others usually opt for moving the point spread in order to push more number of bets on the side that doesn’t receive equal attention. When they do so, the chances are high that the money line may move a point or half a point, sometimes many points from the time of its release.
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Whenever there is movement in the point spread, some punters follow the theory that public isn’t as much of aware of the inner happenings as the casinos, so they opt to bet against such movements. These punters believe that the odds makers and casinos (any online casino that doubles up as a bookmaker) know certain inner facts that a large majority of gamblers are unaware of. Hence, they bet against any such movement. However, in reality, handicappers don’t release point spreads to tell others who they think is going to win, but rather as a depiction of how they think that the public is going to bet. In a nutshell, you must avoid making any assumptions while betting with real money.
Straight bets or money line bets
These bets are the most favourite of the sports books in the legally allowed betting places in the United States. There is no point spread involved in money line bets. Rather, the comparative odds of the underdog and the favourite are weighed based on how much is needed on both sides for placing a bet. If you’ve ever indulged in betting on kickboxing or normal boxing matches, you’d know about the money line bets and their odds.
How money line bets work
Majority of the times when money line bets are placed, one team/player will have a negative figure, while the other team/player will have a positive one, displayed next to its name, like it can be seen in point spread bets. How it differs from the point spread bets is that you’ll see the numbers displayed in hundreds, rather than some points or tens of points.
A figure with a plus (+) sign against it or a positive figure represents the underdog in the game/match, with his/her/their fractional odds of scoring a win shown clearly. So, a bet of +300 implies that the team/player has 3/1 odds of winning and you stand a chance of winning £ 300 by placing a £ 100 bet. Hence, if you place a bet of £ 100 and indeed win, you’ll get back your £ 100 and an additional £ 300 as the won amount.
On the other hand, the odds with a negative (-) sign against it represent the odds of the favourite, showing the team/player’s fractional odds of winning the game/match. Hence, a -300 money line bet depicts a bet of 1/3. So, if you were to bet £ 300 on this team/player, and he/she/it wins the game indeed, you’d get back £ 100 in return. So, basically you’ll get back your originally bet £ 300 and an additional £ 100 as the won amount. Any particular bet that has even odds, is depicted by the bookmaker as -100 or +100. However, please keep in mind that 100 is the default betting amount. Hence, 100 always indicates 1:1 odds.
Why it’s always better to opt for money line bets?
When it comes to money line bets, you need to wager plenty of money on the favourite in order to win a comparatively lesser amount. On the other hand, placing small wagers on the underdog can earn you very handsome returns. How money line bets are better than point spread bets is that the point spreads don’t impact the outcome of the game/match; in money line bets you simply bet on the possible loser or winner upfront. Although money line bets may seem confusing to a large number of new bettors, once they’ve placed their bets, all they basically need to do is cheer for the team/player to either lose or win the game/match. Hence, money line bets are relatively less frustrating and less confusing for the bettors.
This is another commonly used betting odds format used in the gambling world. When you’re placing over/under bets, you aren’t actually betting on the possibility of a particular team/player winning the game/match. Rather, you’re betting on the likelihood of the game/match to be low scoring or higher scoring. Putting it a better way, if the score of the game/match will be lesser or greater than the pre-decided line. So, if you witness an over/under bet of 473 for the Australia and England cricket match at an online casino cum bookmaker, you’re betting on the likelihood of both the teams’ combined score to be 474 or more or 472 or less.
People who bet the over, it wouldn’t matter to them if one player/team wins by a clear run margin of 474 runs, with the other scoring zero runs, or if both teams score 237 runs each, as long as the total score goes beyond 473 runs.
For the bettors who bet on the under, Australia could score 372 runs and England 100, or the England team could win by scoring 273 runs, and Australians scoring 199. Basically, if the total score goes under 473, these bettors would win their bets.
Parlays or accumulators
These are a little hard to predict bet types, but the returns from them can be very attractive to say the least! Basically, what you need to do is make more than one selections in a single bet. Hence, if you think you can correctly predict the outcomes of 5 different football matches, you can make all those bets a part of a single parlay or accumulator bet.
Now, if you do get your prediction for each one of those football matches right, the odds applicable to all those selections would get multiplied and you’d take home a good chunk of money! The downside is that you’ll lose the entire bet amount even if one prediction goes wrong!
Futures or outrights
Futures or outrights are betting terms that are generally used for bets placed on winner of a particular league, competition or tournament. These bets are normally placed prior to the start of such events. So, if you back a particular team to win the English Premier league before the start of the season, you’d actually be placing a futures bet. The same would be the case if you bet on the possible winner of at tennis grand slam like Wimbledon before its actual start.
Proposition or special bets
The bets falling in this category are generally considered the fun kind, but they have many different types which are also popular with serious punters. Basically, these are bets which are placed on things that don’t directly impact the outcome of a sports event, although there may be some exceptions to this. Some of the popular examples of such bet types are the kind where you bet on the player/team to score the first goal in a football match, or the exact time when the first goal would be scored.
Visit any sports betting portal and you’re highly likely to find huge sections dedicated solely to these bet types. There are in fact thousands of different types of proposition or special bets (often referred to as just props) available, and each one of them is worth checking out.
In play betting
A large majority of sports betting portals such as Bet365 etc. offer the in play betting option and it’s considered one of the most enjoyable ways of betting on sports events. These are pretty straightforward bets, where you bet money as the sports event is actually taking place, rather than before it begins.
It’s also commonly referred to as live betting and you get a large variety of betting options when you indulge in them. So, you can bet money on which team/player will score the next goal. A major reason why in play betting is so popular is because it enables you to gauge which way a sports event is heading and then bet money accordingly.
This is another popular betting type that is rapidly gaining popularity in the sports betting world and can be found in every popular online casino that also accepts bets such as Bet365 etc. On a side note, you can refer to [this website] if you’re looking for more details on online casinos that accept bets and also offer attractive bonuses.
In this type of betting, you can place your bets exactly the same way as in conventional sports betting, however, with one major difference in its working. Rather than using a bookmaker, you bet directly against the people who’re taking a position opposite of you.
Fantasy sports betting
This type of betting doesn’t have anything to do with the actual sports events, but is more about making money from your knowledge about a particular team sport. So basically you create a fantasy sports team by selecting your best players and then make them compete against teams created by other people. How betting comes into the picture is that you wager money on how your team will fare against the opponents.