Since ancient times, sports betting has enjoyed a steady rise in popularity. You can now place a bet online on any of the top sports books, or pick from your smartphone – all this in the comfort of home. There has never been a better way to bet on sport than sports betting.
Sports wagering can bring extreme excitement to both those who are passionate about the sport and to serious bettors looking for a way make smart money. It would be smart to know the basics about sports betting before starting.
This article will cover the 8 main terms and definitions that are commonly used in sports betting.
1. Straight Bets
Straight bets tend to be the most popular. This bet is only on one side and you can win. Straight bets are made using either the money or point spread. The format of the line will differ depending on what sport you are betting.
A parlay involves a wager with multiple teams (events), where all the teams must win. The payout odds increase when there are more events included, as it is difficult to predict multiple events.
Teaser betting is a special form of sports betting that allows you to adjust each individual play’s point spread. Additional points can be either added to the favorite, or subtracted. Lower payout odds to win the teaser wagers are possible by moving the point spread (teasing).
A prop is a bet that the sportsbook will offer on unique topics. These bets could be on sports events, politics, or even the outcome of trials. These bets can be placed on the money-line format of pay off odds. This could include, for example, who scores the first touchdown in Super Bowl or who wins the next Presidential election or whether O. J. will face trial.
In sports betting, the futures odds for the winners (a team and a player) at major events or tournaments are posted before the season begins. As the season or tournament progresses, the odds may change. The odds will also vary according to the performances of each team. The odds at the time that your wager was placed will be valid.
6. Total (over/under).
To bet on total runs, points, or goals by both teams during a game of sports betting, you must wager on their combined total. You can also bet over – Sports betting allows you to bet that the combined total points of two teams will surpass a specific total. Or, you can place a bet on Under – In sports betting, a bet where the bettor bets that the total points scored for two teams will fall below a given number.
7. Point Spread
This is the score differential that sportsbooks predict between two teams. The odds makers set a “line”, which is the number of points that will be scored in each game. The odds makers will place a minus sign after a number on the favorite team, while a plus sign will follow a number on the underdog team. Here’s a sample NFL line:
Chicago + 7
Baltimore is the favourite and must win by at most 8 points. If they win by more than 7 points, it’s a “push” (or tie) and you get your bet back. If Baltimore loses by 6 points or more, those who bet against Chicago will get their money back.
A lot of the time, you will only see a 1/2 point. Baltimore for example is -71/2 points. This eliminates “pushes”, as a team cannot score 1/2 of a goal.
Sometimes, the spread for a game is “Pick”, or “PK”. This is when the spread is 0 and no points apply…just pick the winner. Point spread bets are either “straight” (or “parlay”) bets.
8. Money Lines
These are betting odds expressed in money. When there is a negative (-), you must place that amount to win 100 dollars. However, if there is an plus (+), you receive that amount for every hundred dollar wagered. The plus sign stands for the underdog and the minus sign refers to the favorites.
Let me hope that this article provides some insight and understanding. It may also help you to be a better sportsbettor.
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