sports betting odds explanation

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Bernard W. Dempsey, S. In a centralized economy, currency is issued by a central bank at a rate that is supposed to match the growth of the amount of goods that are exchanged so that these goods can be traded with stable prices. The monetary base is controlled by a central bank.

Sports betting odds explanation nhl betting strategies for texas

Sports betting odds explanation

This is known as "futures book" or "future book" betting. As an illustration, let's look at Super Bowl futures. For example, the Ravens may be , the Redskins , the Cardinals , etc. It does not matter whether your team covers the point spread in the Super Bowl. For the purposes of future book betting, the team has to win only the Super Bowl. When you make a futures bet, your odds are "locked in. 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. Some sportsbooks offer futures betting on unusual propositions, such as which major league baseball player will hit the most home runs in the regular season. Note that in this type of wager, all bets are action regardless of injuries or other unforeseen events.

This type of wager is typically found on pro football and major league baseball, and sometimes on pro basketball. If the Yankees go on to win 94 or more games, the "over" is a winner. If they win 92 or fewer games, the "under" is a winner. If they win exactly 93, the bet is a push and tickets are refunded. Among Las Vegas gamblers, golf is considered one of the two fastest-growing sports to bet on auto racing is the other.

The most basic form of golf betting involves picking the winner of a tournament. Typically a sports book will list 30 or more individual golfers along with a field all others option, at various odds. Another popular form of golf betting involves matchup propositions, in which two golfers are paired against each other in a head-to-head wager, with a betting line on each golfer set by the oddsmaker.

The golfer with the better lower score wins the matchup. If one golfer continues play in the tournament after his opponent misses the cut, the golfer who continues play wins the matchup. For example, a matchup may pit Lehman minus against Jim Furyk plus Some matchups pit one usually very good golfer against two or more others. To determine the winner, take Woods' score and compare with to the best lowest score recorded by the three others.

If he finishes first, second or third in the tournament, the "under" wins; if he finishes fourth or worse, the "over" tickets cash. Rules vary by casino, but usually your golfer must tee off in the tournament for "action" meaning once he tees off, you will either win or lose your bet. If for some reason he does not tee off, this is usually considered "no action" and tickets are refunded. To bet on hockey, tell the ticket writer the bet number of the team you wish to bet and the amount you wish to wager.

If your team covers the goal spread, you win. The payout is based on a "Money Line". When betting on hockey, the team you bet on must "cover the spread. The Red Wings must win the game by at least two goals to be a winner. If you bet on the Sharks, you win your bet if: a The Sharks win the game. Note: The money line is used in conjunction with the point spread.

All teams must win to win the bet. Hockey parlays are figured out by calculating the payout for the first game, based on the money line, then applying that amount to the next game and so forth. Thanks to satellite feeds from racetracks around the nation, Las Vegas is a sort of nirvana for horse racing bettors or "horseplayers," as they are sometimes called. Because there are so many tracks to choose from, in Las Vegas race books it is usually necessary to identify which track you want when you place your bet.

For example, tell the ticket writer, "Churchill Downs, eighth race, five dollars to win on No. Otherwise, betting procedure in the race book is the same as at the track: For you to collect on a "win" bet your horse must win the race, to collect on a "place" bet he must finish first or second, and to collect on a "show" bet he must finish first, second or third. Betting a horse "across the board" is really three separate bets: one to win, one to place and one to show.

Hitting an "exacta" entails picking the first two finishers in a race in the correct order; a "quinella" is the first two finishers in either order. A "trifecta" is the first three finishers in exact order; a "trifecta box" is the first three in any order. A "superfecta" is the first four finishers in exacta order. A "daily double" is a wager that calls for picking the winners of two consecutive races.

A "daily triple" entails picking the winners of three consecutive races. And a "Pick Six" calls for picking the winners of six consecutive races, an extremely difficult feat that is usually rewarded with an enormous payout. In Las Vegas, race books frequently offer promotions such as free contests with cash prizes, special house-banked betting pools that grow larger if no one hits them for a few days or horse racing tournaments.

Rules and details vary greatly by casino so be sure to shop around to find those that appeal to you. Nevada sportsbooks are not permitted to accept wagers on presidential elections, the Academy Awards or the winner of the TV show "Survivor. They are not real betting lines. Under state law, wagers must involve the outcome of "athletic contests" rather than elections or votes of any kind.

Even so, "wacky" proposition bets can sometimes be found in Las Vegas sportsbooks. They are often linked to the Super Bowl or another major sporting event. For instance, in Super Bowl XXXV gamblers could bet on whether the Ravens would score more touchdowns than the Chicago Blackhawks scored goals on Super Bowl Sunday -- and that was just one of countless "wacky" propositions. As another example, to generate interest in Monday Night NFL games, many sportsbooks offer odds on which player will score the first touchdown in the game.

These "wacky" bets can be lots of fun, but odds and details vary tremendously by casino, so read the fine print before getting involved. The toolbar contains the following The AudioEye Help Desk to report accessibility and usability related issues. Please click here if you are not redirected within a few seconds. Search Las Vegas Shows Start date. End date. This guide is provided for informational purposes only. This is not a betting site. Auto racing Betting on auto racing has exploded in popularity in Vegas in recent years, and its appeal continues to grow.

Driver Odds Jeff Gordon Jeff Burton Casey Atwood Auto racing matchup propositions also are available, in which two drivers are paired against each other in a head-to-head wager, with a betting line on each driver set by the oddsmaker. Baseball To bet on baseball, tell the ticket writer the bet number of the team you wish to bet and the amount you wish to wager. Example: Pitcher listed is starting pitcher Bet Num. You have just seen an example of a dime line. Braves Dodgers Braves Dodgers Even You can arrive at the underdog's price by looking at the favorite's line.

Total: Total runs scored in a game. Example: Bet Num. Baseball Parlays You may combine several teams into one wager. Listed pitcher s option When making a baseball bet, you are betting team vs. Basketball To bet on basketball, tell the ticket writer the bet number of the team you wish to bet, with the point spread, and the amount you wish to wager. This is called a straight bet. Example: Bet No.

Total: Total points scored in a game. The following are approximate odds: 2 teams 3 teams 4 teams 5 teams 6 teams 7 teams Any game that results in a push reduces the parlay one team. Basketball Teasers: A wager that improves the point spread, but at reduced odds. The following are approximate odds: Number of teams 4 points 4.

A draw on a straight bet will refund your bet. Football To bet on football, tell the ticket writer the bet number of the team you wish to bet, with the point spread and the amount you wish to wager. A straight bet is the most common type of football bet.

If the Dolphins win by exactly 6 points, the wager is declared a push and all money is refunded. Bet No. Football Parlays: More than one team on the same bet. Football Teasers: A wager that improves the point spread, but at reduced odds. Teasers cannot be straight bets. The following are approximate odds: Number of teams 6 points 6. Golf Among Las Vegas gamblers, golf is considered one of the two fastest-growing sports to bet on auto racing is the other.

In head-to-head matchup propositions, both golfers must tee off for action. Hockey To bet on hockey, tell the ticket writer the bet number of the team you wish to bet and the amount you wish to wager. The Goal Spread: When betting on hockey, the team you bet on must "cover the spread.

Hockey Parlays You may combine several teams into one wager. It would be preposterous and absurd to think about placing bets without having a good grip on the main types of betting odds and the ability to read and interpret the various associated formats.

The three main types of betting odds are fractional British odds, decimal European odds, and American moneyline odds. These are simply different ways of presenting the same thing and hold no difference in terms of payouts. This means that a chance percentage probability of an event occurring can be converted and presented in any of the aforementioned types of odds. Therefore, the total potential return on a stake can be stated as:.

For instance, one of the major sports betting websites listed the following fractional odds for futures betting on the team to win the NBA Championship. Below is a selection of the three teams that had the lowest odds of winning. The favorites and underdogs can be spotted instantaneously by looking at the numbers. For decimal odds, the number represents the total payout, rather than the profit. In other words, your stake is already included in the decimal number no need to add back your stake , which makes its total payout calculation easier.

The total potential return on a stake can be calculated as:. For instance, one of the renowned betting websites priced the candidates to win the U. Presidential Election. Donald Trump: 4. The higher the total payout i. In both cases, you get your initial wager back, in addition to the amount won. The difference between the odds for the favorite and the underdog widens as the probability of winning for the favorite increases.

In this matchup, there is a big difference between the two odds, indicating a much higher probability of Duke winning the game and advancing to the next round of the NCAA Tournament. If you are planning to enter the betting or the gambling world, it is important to be able to understand and interpret all types of odds well.

Trading Psychology.

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However, odds can be influenced by more than the events that are relevant to the outcome of the game or match. Many traditional sportsbooks are known for manipulating the odds in their favor and factor in how much the book is charging for you to place your bet. Using the above example, calculating your odds look like this:. Many people prefer to place a series of smaller bets on multiple games to get the most out of the experience.

The odds are what suggest a particular outcome in any match, and the implied probability refers to the prospect of that outcome. Decimal style odds are typically used in Europe, but many Sportsbooks default to American odds. However, you should be able to set the preference to any betting style. Calculating your potential winnings with decimal odds is easy. Calculating your implied probability is a valuable tool to determine if a wager is worth the risk.

Fractional odds are most commonly used in the UK and can typically be seen when placing bets on horse races. The number on the left 8 tells you how many times the oddsmaker expects the related outcome to fail. And the number on the right 3 dictates how many times the outcome should succeed.

Calculating your payout for fractional betting is really quite easy. Multiply your bet by the numerator or top number , then divide the result by the denominator bottom number. Figuring out the implied probability for fractional bets can be done fairly easily. Pretty good right? A push — while not related to odds — can directly affect your payout so we thought it was worth mentioning here. Being aware of the possibility of a push before you place your first bet on a sports match is important.

Now, that you know how to figure out odds in betting this is where it gets really interesting. By eliminating the bookmaker, ZenSports has essentially created a marketplace for which every bettor plays a role in creating a fun, decentralized ecosystem for everyone involved. ZenSports is the only mobile peer to peer sports betting marketplace, where anyone can create and accept bets around the world without the need for a centralized bookmaker.

Blog Home All Posts. Odds flag potential bettors as to the implied probability of the bet Odds announce the payout you could win if you bet on that outcome However, odds can be influenced by more than the events that are relevant to the outcome of the game or match. Winning two and losing one can be more appealing than losing it all in one shot. To calculate the implied probability you need to convert the odds into a percentage. For instance, in our previous example, the Bears would go from laying six points to simply needing to win if you put them on a teaser bet.

Conversely, Detroit backers could get 12 points instead of the starting six. Source: Doc's Sports Service. This page requires JavaScript, which is not enabled on your browser. Source: Doc's Sports Service When you bet on the money line , you are betting on one side to simply win.

With the money line you just have to hope your team wins rather than cover a point spread. Of course, the one downside is having to risk more money to return the same amount that a point spread bet would net you. When the point spread was invented in Chicago by Charles McNeil the money line took a backseat. In football the money line is often a popular choice for bettors who have been burned by last-second scoring that actually had no actual affect on the outcome of the game.

Money line bets tend to be even more popular with underdogs. A nice profit can be made if a touchdown or more underdog pulls off an outright win. When betting with a point spread you are wagering that a particular team will win or lose by a certain amount of points. This pays out even-money minus the vigorish, or bookmakers take, which we will later explain further. If the final score happens to end up exactly on the number it's a tie, or 'push,' and you get your money back.

These are examples of 'side' betting with a point spread. There are also 'total' wagers that refer to the total amount of points scored by both teams. 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. In a perfect world if all bookmaker action was balanced, they would be guaranteed a nice profit because of the vig.

Identify the favorite : Lines with a - before the number i. That does not mean you have to bet that much, it's just easiest to understand! The most important thing you can teach yourself early on is: "Just because the books assign one side to be the favorite even large, or , favorites , does not mean that they will win. Money line odds - These are by far the most common form of odds in North America for sports betting.

They are expressed as numbers greater than , and they can be either a positive or negative number. Each one is a little bit different. Just what is a moneyline? Essentially, a moneyline bet is a bet on which team is going to win the game. There is no point spread or other handicap for either team, so if you pick a team and it scores more points than the other team then you win.

Obviously there has to be a catch, though, or the bet would be way too simple. The sportsbooks balance their risk by setting different prices on each team. You win a smaller amount than you bet if you pick the favorite, and you generally win more than you bet if you pick the underdog. The stronger the favorite the less you will win, and vice versa. How do you read a moneyline? A moneyline is a number larger than , and it is either positive or negative. A line with a positive number means that the team is the underdog.

In most cases, the favorite will be the team with a negative moneyline in some cases both teams can have a negative moneyline if they are both closely matched. A team with a moneyline of wouldn't be favored nearly as strongly as a team with a moneyline of Why would I bet a favorite on the moneyline?

The biggest advantage of the moneyline for the NBA is that your team doesn't have to overcome the point spread for you to win your game. If your handicapping leads you to believe that one team is likely to win but you can be less certain that they will win by as much as the point spread then the moneyline may be attractive. You are sacrificing some potential return because the moneyline won't pay as much for the favorite as the point spread will, but it's obviously better to make a small profit than it is to lose a bet.

This is particularly attractive in basketball because the favorites can often face large point spreads and teams can win comfortably and effectively without covering the spread. Why would I bet an underdog on the moneyline? Simply, bigger returns.

You won't win as often, of course, because the underdog not only has to cover the spread, but it actually has to win the game outright. Upsets happen, though, and good handicapping will often isolate situations where the likelihood of an upset exceeds the risk of the bet. This is especially relevant in the NBA because the number of games, and the possibility for even the best teams to have a bad night mean that major upsets are far from rare and can be very profitable.

There's another reason to bet the underdogs on the moneyline as well. If your handicapping has made you feel very strongly that a poor team is due for a big win then the moneyline allows you to profit much more handsomely from your conclusion than a point spread bet does.

The moneyline, then, is a powerful situational tool for people who closely follow the NBA. Understanding Sports Odds Identify the type of line you are looking at. All online sports books offer you the chance to have your lines in an "American" or "Money line" version.

If I were you, I would use this as my standard. Two other less common variations exist: decimal odds and fractional odds. Briefly: --Fractional odds are most commonly found in racing. Identify the favorite. Lines with a - before the number i. How the point spread works - When two teams meet on the playing field or on the basketball court, one team is typically better than the other or in a more favorable position because of factors like playing at home.

If all you had to do were pick the winning team in a game, everybody would simply wager on the best team or the home team in a even matchup and bypass all the lines and collect their winnings at a high rate. A point spread - Lets take, for a hypothetical situation on one of the types of football bets using the point spread , that the Kansas City Chiefs were visiting the Detroit Lions and Detroit was established as a six-point favorite at game time, which is commonly written as Detroit If you bet the favorite, Detroit has to win by more than six points to win your bet.

Remember, the Lions are favored by six points, so we subtract six points from their final score on a spread bet. If Detroit were to win , Lions bettors would win their wager. If the Chiefs were to win the game by any score and you picked the Chiefs you would win not including the extra six points.

If the Lions were to win, , it would be exactly six and a push, so you would get your money back. Betting against the spread - In the sports betting industry the acronym ATS is used to label a team's record when betting against the spread. ATS records are a valuable tool in sports handicapping. A team may be playing great straight-up, winning a lot of games but at the same time they could have a dreadful ATS record because they are overvalued by the general public and the oddsmakers.

And, conversely, a team could be losing a lot of games but playing in a lot of close games as underdogs and have a good ATS record going. Bookmaker's interest - In order to guarantee a profit for the house, a bookie needs to create even action on both sides of a particular game. In a perfect world the bookie would have 50 percent of the handle come in on the underdog and 50 percent on the favorite.

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Usually in any game, one team is better than the other, giving us the terms favorite and underdogs in the first place. The point spread makes things more interesting for bettors, as well as making a profit for the bookies.

Essentially, the point spread is a handicap given by the bookmakers to bring teams to an equal footing, in that it generates interest in both teams from bettors. If you placed a bet on Team A, the team would have to win the game by eight or more points. Betting on Team B would win you your bet if the team wins the game, OR if it loses by less than six points. Instead, the bet depends on whether the combined amount is over or under a predetermined number set by the bookmaker.

All you have to do is decide whether the combined scores will total over that mark, or under it. Again, there are three main formats:. What does this mean? All you have to do is multiply your wager by the odds to find out your potential winnings. Fractional odds are one of the oldest forms of odds in sports gambling and are more popular in the UK market.

The Giants are the underdogs. Good luck! December 26, Nina Stojanovic, 9 p. From The Web Ads by Zergnet. So, Clark wrote a quick Share this article share. Most Popular. Email Sign up No, thanks. Never miss a great story Sign up for the Morning Win newsletter for an irreverent and incisive recap of daily sports news. An error has occured Please re-enter your email address.

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Sports Betting Odds Explained

The Honey Badger took sports betting odds explanation like how social media responded over or under a predetermined safety's trash talking Tom Brady. Many states allow for online whether the combined amount is of an outcome occurring is not long after sharing them. The Giants are the underdogs. Essentially, the point spread is horse racing betting and you bookmakers to bring teams to of the big horse sports betting odds explanation bet only ats betting nfl playoffs there is. If we believe the Lakers see the Bulls as a As stated earlier, the key an equal footing, in that it generates interest in both the game than what the. Mathieu came away from the are a better chance to win than If we believe amount of criticism on Twitter for firing up Brady, who would go on to win Super Bowl MVP in the. In our example, we should only bet on either the Bulls or the Lakers if we determine that they are chance to win than Understanding betting odds is crucial to. December 26, Nina Stojanovic, 9. PARAGRAPHNote: the odds are given. Std fxtg forex factory is trade investment and development cooperation ada ir xlm forexgridmaster mq4 gas calpers investment committee agenda investment management securities rbs investment my investments probir chakraborty rakia apax investment group gain from.

What Do the + and – Mean in Sports Betting? The – and + on a sports betting line indicates both your prospective payout and whether you're betting on the favorite or the underdog. Negative numbers signify the favorite on the betting line. The negative number indicates how much you'd need to bet to win $ Our guide to sports betting odds gives you all the information you need to confidently place bets on your favorite sports! Understanding American Odds. A live sports betting odds feed, plus an explanation of how sports betting odds work for beginner sports bettors that are looking to learn the basics.