Sports
betting is a game of skill. The challenge is to gather
and analyze as much information as you can about a
game, weigh the probabilities of each team winning,
and subsequently compare your opinion to the oddsmaker's.
Make the right judgment and you win. It's as simple
as that.
While
luck may be a deciding factor in the outcome of any
single game, and will inevitably go against you on
occasion, it will balance out in the long run. Being
a consistent winner in sports betting is not about
luck but whether you are prepared to invest the time
and effort to become knowledgeable about the sports
you bet on, whether you can weigh all the factors in
a cool, objective fashion, and whether you adopt a
consistent, disciplined, long-term approach to your
betting. Do all these and you will come out a winner.
Remember, it's you against the oddsmaker, not the bookmaker.
The
bookmaker is simply a middle-man who operates on a
small profit margin and, ideally, likes to see half
the money wagered on one team and half on the other,
assuring him of a profit. If too much of the money
goes on one team, the bookmaker will move the line
or pointspread to encourage bets on the other team
in an effort to balance his book. The person you are
attempting to beat is the oddsmaker and his views on
each team's chances. Just by flipping a coin you will
be right 50 percent of the time. At odds of 10/11 only
52.4 percent of your bets have to win for you to overcome
the bookmaker's profit and break even, so you only
need a very small edge to become a winner. Do your
homework, bet selectively and 55 percent winning bets
is definitely achievable and 60-65 percent is a realistic
target. At those levels you will have an extremely
profitable, as well as enjoyable, hobby.
BACK
TO TOP
Basic
Types of Sports Wagering
Straights
The
most common type of sports wager is on the result of
a single game, known as a straight wager. One
team is typically favored over another by a pointspread;
the favorite gives the underdog points as a head start,
for betting purposes only. The favorite is always indicated
by a minus sign (-3) and the underdog by a plus sign
(+3). The amount of points a customer must give or
take is estimated to be the amount which will generate
equal wagering on both the underdog and the favorite.
For betting purposes, the result of the game is determined
by taking the actual score and subtracting points from
the favorite's score or adding points to the underdog's
score. So, a favorite can win the game but lose it
for betting purposes and an underdog can lose the game
but win it for betting purposes.
In
most straight bets which are set by a pointspread,
the customer lays $11 for every $10 the customer wishes
to win. For example, the Green Bay Packers may be favored
by 7 points over the Chicago Bears. A customer who
wishes to win $10 on Green Bay must give Chicago 7,
if Green Bay wins by more than 7 points than the customer
wins $10. If Green Bay wins by less than 7 points or
loses outright, then the customer loses $11. On the
other side in order for the Chicago bettor to win,
Chicago must win the game outright or lose by less
than 7 points.
BACK
TO TOP
Totals
A
customer 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 42 and you believe that
the combined points scored by the two teams will exceed
that number, you would bet over. You would bet under
if you believe the total points score will be less
than 42.
BACK
TO TOP
Money
Line
A
bet on a matchup between two teams may be set by a
money line instead of a pointspread. If a matchup is
determined by a money line, like Major League
Baseball, then it will cost the customer more to wager
on the favorite. For example, the Atlanta Braves are
a -150 favorite over the Chicago Cubs. In this example,
the customer must lay $150 in order to win $100. If
Atlanta loses, the customer loses $150. However, the
customer could bet on Chicago, in which case the customer
would lay $100 in order to win $140 (10 cent line).
If Chicago loses, the customer only loses $100, and
if Chicago wins, the customer would win $140.
BACK
TO TOP
Exotic
Sports Wagers
Parlay
A parlay is
a bet on 2 or more teams or selections. The customer
can combine different sports, pointspreads and money
lines. In a parlay your original stake and winnings
are re-invested on the next game and all selections
must be correct - one loss and your parlay loses. In
the event of a push (tie), game cancellation or a pitcher
that you have specified not starting, the parlay reduces
to the next lower number, e.g. a 4-team parlay becomes
3-teams. A winning parlay wager will pay many times
more than the initial wager.
Football and Basketball Point Spread Parlay
Odds
