There’s a common misconception when it comes to placing wagers in sports betting. Many people think that there’s some sort of penalty when you lose, but there isn’t. It’s not like buying stock where you lose money if the share price drops.
A -120 wager, in sports betting, is a bet on an underdog. The -120 wager is named after its odds, which are -120, or twice as likely as you would normally expect to win. For example, if you back the Chicago Bears to beat the New Orleans Saints in NFL football, a standard wager would be +105 to -115. The bookmaker would give you a rebate on that bet if the Bears won, but you would need to pay them if they lost. The -120 wager is a popular choice with sports bettors because it offers a great opportunity to make money while not risking as much as a standard wager. If you’re looking to place a wager on an underdog in the NBA, there’s also a -140 option, which is twice as likely as a -120 wager.
Beware of Odds Moving
One of the biggest mistakes you can make when betting on sports is to assume that the line you’re seeing is the same as the odds the bookmaker is offering. In most cases, that’s not the case. If you see a -120 wager on the NBA game between the Toronto Raptors and the New York Knicks, for example, that doesn’t necessarily mean the bookmaker is offering those odds. Those are just the odds that are being displayed on their website at the time you visit it. If you check before the game starts, you’ll often see the line change, which means the odds will likely change, too.
The same thing goes for when you’re seeing betting lines in other sports as well. You might assume that the line for the day’s MLB game is representative of what the bookmaker is offering, but that’s not necessarily true. The line could move in either direction as the game progresses. The key is to check the betting odds on a regular basis, and not just rely on what you see on the surface.
Placing a wager on an underdog in any sport is a great way to make money, and there are plenty of opportunities to do so throughout the year. The key is to make the right choice, and do your research so you don’t end up losing money. It’s not like buying stock where you lose money if the share price drops, but it’s not like betting where you don’t either. You just need to know what you’re doing and why you’re doing it. That way, you’ll be sure to have fun and make money at the same time.