|
|
Basics
If you are new to sports betting, here’s a little
information about this lucrative activity. If you’re already familiar with
the terminology, you can go directly to other trainings.
First, as you may know, sports betting is simply to place a bet on the
result of a specific game on a specific sport. If your prediction wins,
you win your bet. It’s as simple as that!
Your bets must be placed at a sportsbook. This could be made live in a
casino, by telephone and on the internet. I personally use online
sportsbook.
Internet sportsbooks are very similar as a sportsbook accessed via
telephone or live. Instead of calling in your bet to a bookie, however,
you just fill out an online form. In most cases, sportsbooks have the
same deposit and withdrawal options as online casinos.
Here’s the kind of bet you can place at a sportbook:
Straight Bets:
A straight bet is the most common bet, where you pick a single side to
win. It could be the team to cover the spread or the game total to go
over or under. The format of line will vary depending on the sport that
you’re betting on.
Parlays:
A parlays bet is a single wager involving multiple propositions. The
bettor must chose the winner of each proposition in order to win the
parlay. Payout odds increase as the number of included propositions
increases.
Teasers:
A teaser, like parlay, involves multiple propositions. When betting a
teaser additional points are either added to the underdog or subtracted
from the favourite. Odds are changed in accordance to the number of
points the spread is moved and the number of teams combined to form the
teaser.
Pleasers:
Pleaser are similar to a teaser, only you give, versus receive
additional points: additional points are either subtracted from the
underdog or added to the favourite (e.g., if the regular line on your
selection is –4 and you select a pleaser, then your line would be –10)
If Bets:
If the first game wins, ties, cancels or is suspended, etc., you have
action on the remaining team or teams. An IF bet is a combination of 2 –
6 teams.
Reverses:
If the first game wins, ties, cancels or is suspended, etc, you have
action on the remaining team or teams. A reverse is a combination of 2 –
8 selections.
Props:
A proposition bet is a bet offered with conditions and odds determined
by an oddsmaker. These bets are usually exotic bets like quaterback will
complete the most touchdown passes, which team will score the last
points in a game, or which will complete the longest fieldgoal. Many
prop bets are offered at 11-10 odds, but some will be offered at better
or worse odds, depending on the bet.
Futures:
Futures are single wager on the outcome of an event that will be
determined sometime in the future. For example, picking the winner of
the NFL championship, the Stanley Cup, or the World Series.
Round Robins:
A Round Robin is a series of parlay-type wager built from all possible
groups or the specified round robin group size. The selections can be
any combination of sides, over/under, money lines, run lines, or puck
lines. Currently, up to 9 teams can be grouped by either 2’s or 3’s.
Each round robin series has the “Grouped by” number of teams in it and
some series can win and other series loss. Each individual series is
graded like a parlay. With 4 selections (A, B, C, D) grouped by 2’s then
you would have the following groups of 2’s: A&B
Half Times:
A line on only the first half, or only the second half scoring of a
football or basketball game.
Totals (over/under):
A total wager is a bet on the number of points scored in the game by
both teams combined. You can bet on whether the actual number of total
points scored is over or under the line posted. The total points scored
includes points scored in overtime. You can also bet whether the
combined number of points or goals scored by the two teams in the game
will be over or under the total set by the oddsmaker. For example, if
the total is 32 and you believe that the combined points scored by the
two teams will exceed that number, you would bet over 32.
Point Spread:
The point spread is the number of points that the favored team is
expected to win by. For example, say the New York Knicks are favored to
beat the LA Clippers by a point spread of 7. That means that if you pick
the Knicks to win, they have to win by more than 7 points for you to win
your bet. If they win by fewer than 7 points or lose the game, you lose
your bet. If they win by exactly 7 points (the point spread), the result
is a push or tie. That means that you don't win or lose, your original
bet is refunded.
Money Lines:
The difference between a point spread bet and a money line bet is that
there are no points involved. Instead, money odds are wagered on the
favorite or underdog. There is a different money line total for either
side on a money line bet, a negative side (the favorite) and a positive
side (the underdog): Dallas -170 Washington +150 What this means is that
Dallas is the favorite and for every $17 you bet on Dallas, you win $10
if they win. For every $10 you bet on Washington, the underdog, you win
$15 if they win. By offering different odds for each team the sportsbook
is able to balance action on both teams.
Action Points:
When wagering against the point spread, if you think that the spread is
low or high you may wager 11/10 for each point you think the spread or
total will go over or under.
Buy Points:
Buy Points means that you can move the pointspread so that you give away
less points with the favorite or get more points with the underdog, for
both football and basketball. To do this you must pay an extra 10% for
each ½ point you buy in your favor. For the NFL and NCAA football, you
will pay an additional 20% to buy on or off of 3, or 10% to buy on or
off of 7 points - also know as Key Points.
Summary:
While the goal of this page is to give you an understanding of the
basics in sports wagering - you should be sure to read through the rules
pages posted on any Internet Sportsbook you may join. Rules do vary and
the variance can be the difference between a winning season and a losing
season.
Odds
Now, if
your sportsbook only offers the USA format, here’s how to turn the USA
format into International format.
- When the US odds price is a positive number like +115, you just have
to do this:
( US odds / 100 ) + 1
So here, this is ( 115 / 100 ) + 1 = 2.15
So +115 is the same as 2.15
You bet $100 to win $115
You bet $100 and the sportsbook gives you $215 if you win. $215 - $100 =
$115 profit.
You bet $100 at 2.15. The sportsbook gives you $100 x 2.15. $215 - $100
= $115 profit.
- When the US odds price is a negative number like –110, you just have
to do this:
( 100 / US odds ) + 1
So here, this is ( 100 / 110 ) + 1 = 1.91
So –110 is the same as 1.91
You bet $110 to win $100
You bet $110 and the sportsbook gives you $210 if you win. $210 - $110 =
$100 profit.
You bet $110 at 1.91. The sportsbook gives you $110 x 1.91. $210 - $110
= $100 profit.
|
|
