In the latest years, sports betting has become popular among different audiences. Whether you're into fantasy sports, regular sports, or maybe eSports, you should know there isn't as much stigma regarding betting as it existed in the past. Due to this fact, a robust industry is emerging as more states have legalized these operations within their borders.
Betting may be attractive, but it may be more challenging than you think. Therefore, you must be familiar with the terms before placing any wager.
Doing research is essential in any niche. This time, we bring you ten tips that'll teach you how to bet on sports.
Before the oddsmakers release betting lines for a game, they decide on a team to be the "favorite" and another to be the "underdog."
As you have probably assumed, the “favorite” team is supposed to win the game, and you’ll notice a minus sign on the odds shown. On the other hand, the “underdog” team will lose, supposedly, and you’ll notice a plus sign next to its odds.”
Some games can be toss-ups, which means the books will be open to “picks” or “pick’em.”
Before placing a wager, you should know there are two ways of doing so. For starters, we'll explain the science behind this term.
“Point spread” is a term that refers to a wager placed based on the victory margin. Favorites grant points, but underdogs earn them.
For instance, let's say that a particular team (1) has 7-point favorites and (-7) against another (2).
If you decide to bet on the first team, they must earn eight or more points so that you can win your bet. When this happens, it means you "cover." However, if that team wins the game with 7 points, the event will be cataloged as "push" instead, and it means the sportsbook will return the money you placed on a wager to you.
Spreads are also unfavorable. If that particular team wins by earning six or fewer points, you lose.
On the other hand, if you decide to bet on the second team with the plus points, in this case, +7, the team must win the game by earning six or fewer points so that you can win, or at least cover your bet.
Although you can find spreads in most sports, they are more common in mainstream sports with higher scores, such as basketball and football.
As for the second way of betting for the favorite or the underdog, you have the Moneyline. This term is straightforward, as you place your bets based on the team that will win.
As for favorites, the sportsbooks will grant them a “minus” designation, and the number will vary. It can be -150, -200, or -500. These numbers are related to the amount of money you’ll bet. For instance, if the favorite has -200, that means you’ll have to bet two-hundred dollars to get back one hundred if you win, but will lose all your money if they lose.
It is expected that betting for favorites is riskier because they are expected to win.
Underdogs get the “plus” sign instead. However, since they are expected to lose, placing your bet on them is less risky and more rewarding. That means if an underdog has -200 and you wager $100 on them, you’ll get double the money. The same principle applies to when you lose – you will only risk the funds you first wagered.
Unlike spreads, money lines are prominent in sports such as baseball, hockey, and other low-scoring sports.
"Juice" or "Vig" are standard terms within the sports betting community. It's not hard to understand them. They refer to the commission the sportsbooks get for accepting your bet.
For example, let's say you're placing a bet on a particular team with -5 (-110). This action means you'll risk one-hundred and ten dollars if you want to win solid one-hundred bucks.
The juice is not always harmful. It can be positive, which means if you wager $100 on that particular team with a positive "juice," in this case, let's say -7 (+110), you'll win $110. If you lose, you'll only lose the initial amount.Back