Bets made on sports books, betting exchanges, and other online gambling sites are often presented with two numbers; the total amount of the wager and the point or margin of the bet. While both figures are important – knowing how much you are risking and how much you may win – you may find it difficult to wrap your head around the concept of “plus points” and “minus points” when playing these types of games. The following paragraphs will walk you through how to calculate these numbers so you can better understand the betting exchanges’ and online gambling sites’ version of an odds-based game.
The Basics Of A Basketball Bet
To start things off, let’s take a look at the most basic terms and conditions of a basketball bet. These will vary from book to book, but it is rare that more than a few details will not be the same:
- The odds will be presented in the form of 2X3 or 3X2 if there are three set shots or two possible shots in the game;
- The total amount of the bet will be expressed in terms of dollars, with 10 points being $1, 20 points being $2, etc.;
- The point or margin of the bet will be either plus or minus.
- You will have won or lost the bet according to whether the outcome was what you anticipated or not.
While not all of these terms and conditions will be applicable to every individual sport or betting option, they will all be relevant to some extent. The key takeaway from the above is that just because something is written on a betting slip or in the online betting site’s terms and conditions that does not mean that you will necessarily understand or agree with it. Be sure to familiarize yourself with the terms and conditions of the book or website you are betting with before making any wagers. This will help ensure that you are not misled by a slip of paper or electronic representation of the terms and conditions.
Understanding The Point
Now that we have covered the basics of a basketball bet, it’s time to tackle the concept of point and its role in basketball odds and line odds. One of the most oft-misunderstood aspects of betting is that the decimal point does not necessarily indicate how much each point costs. Decimal points are simply a way of expressing the odds of winning or losing, and they do not imply anything about the actual dollar amounts bet. For example, a decimal point of 2.7 means that you will win $27 for every $100 you wager, whereas a decimal point of 1.9 would mean that you would win $19 for every $100 you wager. In both cases, the dollar amount you will win or lose is the same: 100 points, or $100 will get you $100 on either side.
What many people do not realize is that the decimal point and the amount of their wager combined, in some cases, can add up to more than $100. For example, if you bet $100 and the decimal point is 1.7, you will win $140. In this case, you received $100 in bets plus a $40 bonus. In most situations, this would be considered a “good” payout because you exceeded your wagering limits without going over. In other words, you did not risk more than you could lose.
Why Calculate Points?
As noted above, the total amount you wager and the decimal point or margin of a bet do not necessarily mean that you will win or lose money. In many cases, they will be completely irrelevant and a complete waste of time to calculate. However, there are situations where the numbers themselves can be very useful. For example, if you bet $100 on a game with 10 points scoring opportunities and the point is minus or even, you may find it advantageous to calculate just how much money you are actually risking. In this case, you will lose $100, but you will also know that you risked $100. It is generally advisable to avoid gambling with minus points because in many cases, the payout will not be what you anticipate. Remember, the point is simply a number that indicates how much you win or lose, so be careful when using it in this manner.
The Role Of The Odds
In most cases, you will be given the option of selecting from six different betting options when placing a wager. Depending on the total amount you wager and the point or margin in the game, you will either get what is called a “win” or “loss” ratio with respect to the amount you wagered. This is a commonly used abbreviation for “sports book odds” or just “odds” and can be represented in the form of 2X3 or 3X2, as mentioned above. One of the fundamental truths about betting is that no matter which way you bet or what number you bet on, you will always end up either winning or losing the same amount: the total amount you wager. As a result, you do not necessarily need to know the odds to place a wager; you can simply look at what is written on the betting slip or in the online gambling website’s terms and conditions to see how much you will win or lose.
What is interesting about the odds is that they will vary depending on the amount you wager and the point of the game. In most cases, you will find that the odds will be in your favor at or approaching 3X2 or 2X3. For example, if you wager $100 and the total number of points is 40, the odds will be 7X to 1. In other words, you will win $700 for every $100 wager. As the amount you wager increases, so too will the odds. If you wager $1,000, the odds will be 14X to 1, meaning you will win $14,000 for every $1,000 wager. Remember, these are simply the odds for winning or losing the bet, not the odds of winning or losing the game. In some instances, especially when there are a large number of points in the game, the point spread may overwhelm the win/loss ratio, resulting in an odd looking number or ratio. For example, betting on the New York Giants at +150 points would yield an 8X win ratio, but the Giants’ average score in 2015 was 24.8 points per game, resulting in an actual ratio of 1.92 (24.8/150). In this case, you would win $188 for every $100 you wager. In general, you should avoid these types of long shots like the plague because although you may win some, you will lose so much that it will not be worth it in the long run.