Bettors love sports betting because it’s all about stats and numbers. Knowing how many points the Boston Bruins will score in the next game, or which teams are winning the most games – that’s what draws fans to sports betting. But what if I tell you there was a way to win consistently, even when betting on the favorite team?
Let’s explore the math behind betting the spread and whether you should actually place a bet like this or just stick to the safe, traditional ways of betting on sports.
Betting On The Favorite
One of the most popular places to bet is on the favorites. That’s because people feel pretty good about their odds of winning. After all, the favorite is pre-selected for you, so the house isn’t risking anything, right?
The favorite is the simplest way to bet. All you need to do is pick a sport and a team you think will win. Then, you just need to choose whether you want to bet on them or against them. If you bet on them, you’re saying the other team will lose. If you bet against them, you’re saying the other team will win.
The spread is the amount of points an underdog is favored to beat an incumbent team by. For instance, the Miami Heat are +3.5 points underdogs against the Toronto Raptors in a head-to-head matchup. This means Miami is favored to win the game by 3.5 points. If you bet on the Heat, you’re saying Toronto will lose by 3.5 or more.
One of the nice things about betting on the favorites is that there’s usually very little risk involved. If you bet on the Seattle Seahawks, you’re saying the New York Jets will lose by more than 3 points. Most likely, the spread will be at least 3 points, so your money will barely be affected. If you’re lucky, the favorite will cover the spread and you’ll win just a little bit more money than you risked.
A Brief History Of Odds And Evens
In the 1800s, people who gambled would place bets on the horses or dogs racing during the day. They’d often use an oddsmaker – someone who takes bets on a daily basis and makes them aware of the odds – to help them make the right wagers. People would also use oddsmakers to help settle bets for them. This practice eventually lead to the creation of casinos and horse racing tracks, which eventually led to the invention of the sports betting machine.
Today, most places to bet are electronic. That’s partly because it’s easy for the house to move the betting line up or down as they see fit. In addition, it’s usually not necessary for the bettor to physically go to the casino. You can place your wager from the comfort of your home or office. But even then, the house edge is present whenever you place a bet.
Betting On The Underdog
If you think the favorite won’t win, then it’s time to place a bet on the underdogs. This is essentially the opposite of betting on the favorites. When you bet on the underdogs, you’re saying the other team will win. It doesn’t matter whether you’re right or wrong, you’ll still profit when the underdogs win.
To place a bet on the underdogs, you first need to figure out how much you’ll win. To do this, you need to find the spread for the game you’re planning to bet on. That way, you’ll know what kind of payout to expect. For example, let’s say you’re betting on the Cleveland Browns to beat the New York Jets. The Browns are a -6.5 point underdogs according to SportsLine. You’ll need to add 6.5 to what you’d win if the Browns won by more than 6.5 points to figure out how much you’ll actually win. In this case, you’d win $11.60 if the Browns beat the Jets by exactly 6.5 points.
The nice thing about betting on the underdogs is that it’s generally a high-risk, high-reward type of wager. If the Browns bet lose, you’ll lose a little bit of money, but you’ll also profit a lot. If the Browns win, then you’ll win even more money. So, while it may sound scary to bet on the underdogs, it can easily be the wisest decision you’ll ever make in terms of your sports betting bankroll.
Combining The Two
Some people like to mix it up and bet on both the favorites and the underdogs, sometimes called the over/under. This is essentially what NBA bettors do to make the most of their wagers. For instance, let’s say you’re a Denver Broncos fan and you want to bet on them to beat the New England Patriots. You also want to bet on the underdogs, the New England Patriots, to win by more than 3 points. In this case, you’ll win if both teams win because the spread is 3 points. You’ll also profit if the underdog wins by less than 3 points, or if the favorite loses by more than 3 points. If both the favorite and the underdogs win, then you’ll win the largest sum of money, since there will be a total of 18.5 points scored in the game. This is also known as a gamblers’ dream scenario because it gives you the best chance at winning. Unfortunately, this is also the most risky bet you can make, because there’s the chance both teams will lose.
The Bottom Line
The nice thing about betting on sports is that it’s easy to follow along and understand. Most people can easily grasp the basics of betting. With a little time and practice, anyone can become an efficient, profitable sports bettor.
If you’re new to betting or just want to try out a different way of wagering, then by all means, give it a go. You might just find it’s the best way of betting. But, if you want to stay safe and make the most out of your money, then stick with what you know. You can use the information in this article to help you make the right decision about whether to bet on sports or not.