The ability to accurately forecast the outcome of a sporting event is what sets sports betting apart from other forms of gambling.
Just what does this imply? You decide what happens. While you may not be able to change the outcome of a game, you may increase your chances of winning by developing and adopting a sound betting strategy.
Learning the sportsbook’s board is the first order of business. Most sportsbooks cram as much data as they can onto a small page, which is less of a problem when placing bets online but still leads to a confusing mess of numbers. The Point Spread Bets section of a standard sportsbook’s board.
Betting on the margin by which a team wins or loses is known as a “point spread bet.”
The point spread is typically a negative number and is displayed next to the underdog team. The Cowboys are an 8-point favorite in the aforementioned scenario. This results in two wagers with a point spread:
Bets would be considered a push if the Cowboys win by exactly 8 points.
When betting against the spread, you must risk 10% more than your possible payout. A bettor would have to risk $55 ($50 + $5) to win $50. With the exception of certain parlays and teasers, nearly all sports bets pay back the initial wager plus the profits. A wager of $55 here would pay out $105 if it won.
Money Bets
Betting on the total amount of points scored is similar to betting on the point spread.
Betting on whether or not the combined score of the Cowboys and Chiefs will be over or under 42.5 is an example of this. These wagers typically have a house edge comparable to that of point spread wagers.
parimutuel wagering
Bets placed on the Money Line simply predict the victor.
There will always be a favorite, but bookies strive to level the playing field by offering better odds on the underdog. The Cowboys are favored in the above scenario. A $100 wager on the Chiefs at +300 would pay out $300 in the event of a victory. It takes a bet of $400 to earn $100 if you take the Cowboys with a point spread of -400.
Parlays
Parlay Bets are single wagers that aggregate the outcomes of two or more separate sports bets into a single wager contingent on the outcomes of all participating bets.
Parlays provide significantly greater payouts than you would get if you bet on each event separately, but they are also much more difficult to win. A parlay bet is considered a loss if any of the participating wagers is a loser. When one or more of the wagers “push,” or end in a tie, the parlay shifts to a fewer number of plays, and the odds drop accordingly.
The point spread determines whether a parlay bet is placed (1) off the board or (2) off the card. When placing a bet off the board, the point spread displayed there will be used for all wagers. The bettor will use the information on the card to fill out a Parlay Card with their selections and the corresponding point spreads.
While the parlay payout ratios can get rather high, it is clear that they are never closer to “true” odds than they actually are, thus the house always has an edge. The more selections on your parlay card, the greater the house edge. Whether or whether parlays are a suitable strategy for sports betting is still up for debate.
Teasers
Teasers are wagering combinations of two or more bets in which the bettor attempts to shift the point spread and/or total to his or her advantage in return for a lower payout.
These wagers typically occur in the sports of football and basketball. They function similarly to parlays in that the bettor must first win each individual bet in order to collect any winnings.
Teasers in football often award 6–7 points, while those in basketball award 4–5. For the aforementioned game, a Cowboys win by more than one point would be enough to cover the spread in a 7-point teaser. The Chiefs would cover in a teaser if they won or lost by fewer than 15 points.
Pleasers
The opposite of a teaser is a pleaser.
To boost your reward, you should shift the lines against you instead of in your favor. Extremely high stakes Such bets have the largest potential rewards in the world of sports betting. We advise staying away from them unless you’re into high-risk, high-reward gambling.
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