The lines are one of the most important factors in any betting situation. The line is the amount of money you are willing to risk on a certain outcome of an event. For example, if you bet $1000 that the price of gold will rise above $1900 per ounce before the end of the year, the line is $1900. You are risking $1000 that the price of gold will be above $1900 per ounce before the end of the year. If the price of gold stays below $1900 per ounce, you will lose $1000 and you will be down $2000 to start the year. On the other hand, if the price of gold rises above $1905 per ounce, you will win $3000 and you will end up $5000 ahead of where you started the year.
There are three basic lines you need to understand in order to fully grasp how they work in betting: the opener, the midline, and the closer. The opener is the amount of money you are willing to lose on a certain outcome. The midline is the amount of money you are risking for each point gained (or lost) by the outcome of the event. The closer is the amount of money you are willing to risk on the opposite outcome of the event.
What Is the Opener?
The opener is the amount of money you are willing to lose before you even begin placing bets. It is usually represented by the Greek letter ‘opener’ (Ω). The opener is used to define the line of credit you are willing to use on each bet. This way, you will not exceed your initial stake and be forced to cover your losses. If you are unfamiliar, a line of credit is a sum of money you are allowed to borrow from a lender for a specific purpose. For example, you might open a business account with a bank and they might give you a credit limit of $15,000. This is your line of credit. When you are using this line of credit, you will pay interest on the amount you are using each month. This way, you are responsible for paying back what you owe plus interest.
An example of an opener would be: Opener – $1000, meaning you are risking $1000 on the price of gold increasing above $1900 per ounce. You will keep $1000 of your bet if the price of gold stays above $1900 per ounce. Otherwise, you will lose $1000 and be even on the money you started with. A good way to look at an opener is to think of the initial stake you have plus the amount of risk you are willing to take (in this case, $1000). In most cases, you will use a premium line of credit to open an account with a bookie. This way, they will not ask you to put down a security deposit as a guarantee. The security deposit is usually non-refundable and it is used to verify your identity. Since this is usually a one-time use for most customers, most bookies do not require customers to put down a security deposit. However, if you are looking for a better rate of return, you should consider using a credit card to open an account with a bookie so you can take advantage of their loyalty program. Using a credit card to open an account with a bookie is usually a better option because it comes with several perks that a typical debit card does not offer.
What Is the Midline?
The midline is the amount of money you are risking on each point gained (or lost) by the outcome of the event (in this case, gold). The midline is represented by the Greek letters ‘meson’ (Μ) or ‘midas’ (М). The midline is used to determine how much you are winning (or losing) per point based on whether the price of gold increases (gains) or decreases (loses) in value. For example, if the price of gold increases 20 points to $2100 per ounce and you have a gain of 100 points on the trade, your winnings will be $3000 (20 points x $22 = $3000).
An example of a midline would be: Midas – 100 points, meaning you are risking $100 per point on the price of gold increasing above $1900 per ounce. You have a 100-point gain on the trade, so your winnings will be $3000 (20 points x $22 = $3000).
What Is the Closer?
The closer is the amount of money you are willing to risk on the opposite outcome of the event. For example, if the price of gold decreases below $1900 per ounce, your loss will be $1000, and you will be even on the money you started with. A good way to look at a closer is to think of the amount you are risking plus the amount of money you need to lose if the trade does not go as planned. In most cases, you will use a premium line of credit to open an account with a bookie. This way, they will not ask you to put down a security deposit as a guarantee. The security deposit is usually non-refundable and it is used to verify your identity. Since this is usually a one-time use for most customers, most bookies do not require customers to put down a security deposit. However, if you are looking for a better rate of return, you should consider using a credit card to open an account with a bookie so you can take advantage of their loyalty program. Using a credit card to open an account with a bookie is usually a better option because it comes with several perks that a typical debit card does not offer.
An example of a closer would be: Closer – $1000, meaning you are risking $1000 on the price of gold decreasing below $1900 per ounce. You will keep $1000 of your bet if the price of gold stays below $1900 per ounce. Otherwise, you will lose $1000 and be even on the money you started with.
The line, opener, midline, and closer are the four basic elements of any bet. When placing bets, you will need to ensure that you are using the right line, right midline, and right closer. In most cases, you will use a premium line of credit to open an account with a bookie so you can take advantage of their loyalty program or special offers they might have. People who are new to betting usually underestimate how important the lines can be and they neglect to use them correctly. It is crucial you enter the right lines and you use them correctly so you do not lose money. Otherwise, you will end up in debt because you will have to payback what you owe plus interest.