Sports Betting Terms And How To Bet On Sports
After all, the entities we are wagering on are just trying to win the game, rather than win or not lose by a certain amount. When we bet on the money line, we are betting on the precise thing that teams are trying to accomplish, which is naturally to win the game. Betting against the spread means you are taking the Underdog and the points in a game. To win you want the “underdog” to either win the game outright OR lose by less then the “Point Spread” you are given. In this example we are taking the underdog the NY Jets and +7 points. In order for us to win our bet one of two things must happen.
If you bet $17 on NO and it doesn’t, you get $17 back and win $10. So here are your questions about sports betting as it pertains to the Super Bowl, answered. Too often we cater to the gambler who, you know, gambles. But leading up to the biggest football game of the year, there are plenty more people who want to get action down. Most payouts for Over/Under bets are even, meaning that if you wager $100 you win $100 profit.Make sure to check this with your bookie first, however.
You’ll notice in the example above that odds are not given for the spread and over/under bets. While you can assume the odds are likely between -130 and +110 for each side, you’ll have to ask the cashier or look at your betting ticket after placing the bet. If you bet 1 on a game with 3 to 10 odds and you win, your total payout will be 1.30 which is your bet plus 0.30 profit. Instead of having to calculate from a fraction the work is already done for you with decimal odds.
In other words, they’re expected to win by more than a touchdown. Lines of at least a touchdown are relatively uncommon in the closely contested NFL – this is the only such NFL Week 1 line at the time of writing. The two teams are judged to the be 3 points apart, with the Chiefs “giving” 3 – hence the minus – as the favorite and the Bucs “getting” 3 as the underdog. Let’s also look at last season’s Super Bowl between the Kansas City Chiefs and Tampa Bay Buccaneers. The market favored the Chiefs to win, making the Bucs the underdogs.
The favorite is assigned a run line of (-1.5) and the underdog of (+1.5). In this case, if you bet the favorite, they have to win by two or more runs. You will likely have a payout ranging from (-130) to (+200) for a favorite on the run line.
Conversely, New York is a 4.5-point underdog, which means to win the bet the Giants would need to win outright or not lose the game by more than four points. Imagine in the above example you took the Lions at +17.5 then watched them run the kickoff back. Now, you can take 49ers -11.5 and have a chance to win both bets if the Niners win by 12-17. This means bettors must win more than 50% of the time to break even. In fact, on point spread betting at -110, the breakeven point comes out to 52.38%. Check out this page for more math behind the vig in sports betting.