Overtime betting is a form of betting where the odds are calculated and resolved after an original scheduled time for the game has elapsed. For example, if you put down a $100 bet on the Super Bowl on a wager site, you would be betting that the game will end at some point after 12:00 noon EST on February 2nd. The term ‘overtime’ comes from the fact that the event is continuing after the scheduled time has ended.
This form of bet is generally accepted in sportsbooks as it provides them with more chance to make a profit on the bet since more of their customers are participating in the game after the scheduled time has ended. Moreover, since the odds are resolved after the game has ended, there is no need for additional wagers. Finally, since the game is continuing after the scheduled time, spectators are able to see more of the game which enhances the interest in the game overall.
What Are The Rules?
As mentioned above, the odds are generally calculated and resolved after the game has ended which means the rules for making an overtime bet are a bit different than usual. Here are the most commonly accepted rules for making an overtime bet:
The Game Must Be Going Into Overtime
It is highly recommended that you check with the sportsbook before placing an overtime bet. Simply put, the game cannot have already gone into overtime when you make the wager. While there is no official guideline specifying how long the game has to go into overtime before an overtime bet can be resolved, it is generally accepted that the game cannot end in regulation. This guideline is in place to prevent situations where a game ends in a tie after two identical teams have played each other. In that case, no one would win and nobody would lose which nullifies the purpose of the game. This guideline also prevents cases where teams are exchanging blows in the final minutes of a game and the score is still tied. In that case, your wager would be cancelled and you would not receive any winnings since there is no way of telling whether or not the game will end in a tie after the fact. For these reasons, it is highly recommended that you check with the sportsbook before placing an overtime bet.
No Paddling For Ties
Since the game cannot end in a tie, there is no need to worry about being able to win your wager if the game ends in a tie. However, it is still important to establish ‘who will win the game’ before making a wager since it is possible for the game to end in a tie. In that case, you would not want to risk losing your bet if the game ends in a tie. For this reason, it is highly recommended that you do not try to win a tied game by hitting the board or the ground with your paddle. Doing so is actually against the rules (or code of conduct) of most sportsbooks since it is highly likely that you will scam the book when you do this. Most importantly, hitting the board or the ground with a paddle during a tie game nullifies any potential benefits that come with participating in a tied game. This rule is generally accepted by all sportsbooks since it prevents them from having to resolve a tied game in a weird way. If the game ends in a tie after you hit the board or the ground with your paddle, your bet is lost.
Pay Attention To Past Performance
One of the key points to keep in mind if you want to succeed as an overtime bettor is past performance. Simply put, you cannot make money off betting on highly improbable events that have little or no chance of happening. For instance, it would be a good idea to avoid betting on the Harlem Globetrotters due to the fact that they are one of the most successful teams in NBA history. They have never gone more than five games in a row without a win and have only lost ten games in their entire history. In fact, the team has a 16-game winning streak which is the longest active unbeaten streak in the league. If you are looking to make a quick buck, avoid betting on the Harlem Globetrotters and try to lay off of teams with below-average records like the Milwaukee Bucks or the Dallas Mavericks. They are two of the most successful teams in NBA history with 17 and 16 championships respectively. On the other hand, if you are looking for a long-term strategy, lay off of teams with above-average records and go all-in on underdogs. This is because underdogs often end up being the teams that surprise everyone and win big which makes it easier for you to profit off of them. It is also worth pointing out that if an underdog turns out to be one of the favorites in a given game, the favorite usually ends up losing that game but since underdogs win so much more often than favorites, it is often the case that the betting public is not punishing the favorite for winning the game. In short, if you want to be a successful overtimed bookmaker, follow the ‘underdog’ strategy.
Look At The Spread
Another important point to make if you want to be a successful overtimed bookmaker is to look at the spread. Simply put, the spread is the perceived difference in odds between two teams. For example, if you are watching the Super Bowl and the game is tied at the end of the third quarter, your best bet is to check the injury reports and see which team is favored to win the game. If the spread is more than 3.5 points, you would have to lay off since it is highly unlikely that the game will end in a tie. Moreover, as mentioned above, since most sportsbooks do not accept wagers on ties, it is extremely unlikely that the game will end in a tie. For this reason, if the spread is more than 3.5 points, it is usually a safe bet to lay off. However, it is still important to keep in mind the success rate of a given team since it is very possible for an underdog to win the game in a huge upset even if the spread is very wide. All things considered, if you want to be a successful overtimed bookmaker, follow the guideline below:
Overtime Is A Gamble
Overtime is a gamble where you are taking a chance on the outcome of the game going the distance. It is also important to note that since the odds are generally calculated and resolved after the game, there is always the possibility that the score could be updated after the original time for the game has elapsed. If you are looking for an easy way to make quick money, you could always place a bet on the game being tied late in the fourth quarter or in overtime. However, if you want to be a successful overtimed bookmaker, it is important to keep in mind the risk/reward ratio which is the amount of profit you are likely to make compared to the amount of risk you are taking. Simply put, if the game ends in a tie after the scheduled time has elapsed, you win since your bet will be resolved in favor of the winner. On the other hand, if the game does not end in a tie after the scheduled time, you lose since your bet will be resolved in favor of the loser. It is also important to note that if the game ends in a tie and you are on the winning end of the game, you will still win since the bookmaker has to honor your contract. This is generally true unless there is a breach of contract and the sportsbook chooses to cancel your winning ticket in that case. Once again, if you want to be a successful overomited bookmaker, it is important to understand the risk/reward ratio of any given game.