Sports betting is a very popular pastime, with many people betting on a variety of sports. Even if you’re not necessarily a sports fan, there’s probably something you enjoy about seeing famous athletes perform on the big screen and being able to put a wager on the outcome. If you’re looking to get into sports betting, you’ll undoubtedly be confronted by numerous questions. You might even feel overwhelmed by the amount of information available online. Don’t worry; this article is here to help. We will discuss everything you need to know about the subject and put some of the mystery surrounding betting on sports to rest.
Difference In Odds
One of the first things you’ll notice about sports betting is how incredibly uneven the odds can be. One team or player may be heavily favored to win a game, while the other is completely against the spread. This can lead to some pretty surreal experiences when you bet on sports. For example, take a look at the 2014 NCAA Tournament odds:
#1 Florida vs. #16 Wichita State: (Florida -17 points) (Wichita State +17 points)
What you have here is a clear discrepancy. Florida is a very experienced team, while Wichita State is relatively new to the tournament scene. As a result, the line has shifted almost entirely in favor of the Gators.
Another great example can be found in the 2017 NBA Draft Lottery. The Cleveland Cavaliers had the first overall pick in the draft, but they needed to be given the green light by the NBA to trade it. To do this, they had to beat the Los Angeles Lakers in a lottery. The odds of Cleveland winning were 1 in 8, the equivalent of 1.25 – 3.33%, meaning they had a decent shot at getting the No. 1 pick. However, despite their odds, they still needed someone to give it to them. This is where the trouble began. Cleveland had to pay a large sum of money to the Lakers in a winning lottery ticket. The cost of a single ticket was 12.5x the amount of the prize, or $275: