The world of sports betting can be rather confusing at first glance. There are so many different terms and abbreviations that it can be hard to know where to begin. If you’re looking for an easy guide to help you wade through the jargon and get to the guts of the matter, then keep reading.
General vs. Specific +150
When you make a wager, you’re effectively placing a market bet or a side bet. The difference is in the implied odds—general bets have very long odds, while specific bets have extremely low odds. For instance, the favorite in the 2018 Super Bowl was the New England Patriots, and people who bet on them received a payout of around +150. This is because the over/under on the total combined scores of the game was 31, which gives the Patriots a 1-in-150 chance of winning that game. Specific +150 wagers also have another important element: the number of points that the two teams score. If the spread of the game is 3 points, and it ends up being 10-7, then the winner is determined by the total score of the game. In this case, the bettor would win because the total score was 17 points. However, if the spread was 5 points and the final score was 15-10, then the bettor would lose because the total score was less than 18. This is why it’s generally a bad idea to place a +150 wager unless you’re absolutely sure that your team is going to win. When it comes to making wagers, it’s always good practice to do your research first.
Types Of Bets
There are four types of bets: money line, spread, total score, and proposition. These terms can be a little confusing at first, but once you learn them, they’ll become second nature. Here’s an easy guide to help you remember:
Money Line
This is the classic wagering option and is exactly as it sounds: you’re placing a bet on the winner of the game. If you’re sure that your team is going to win, you have the option of wagering on them at a money line of +150 or -150. A money line bet, also known as a pick ’em bet, is one of the easiest and most popular forms of wagering. When you make a money line bet, you’re effectively saying that you think your chosen team will win the game, and the payout for that wager is simply going to be the amount you bet, plus or minus the bookmaker’s commission. For example, if you bet $100 on the Patriots and they win, then you’d receive $150, plus the $100 that you originally bet, plus the bookmaker’s commission. This is a simple and popular form of wagering because it’s so easy to make and it gets the job done. However, if you’re new to sports wagering, it’s advisable to avoid money line bets if your skills are still developing. Instead, try and develop a better understanding of the odds and how they work in favor of or against your chosen team.
Spread
This is what all the fuss is about when it comes to betting on sports. A spread bet is where you’re placing a wager on the total score of the game. For example, the Indianapolis Colts were one of the most popular teams to spread bet on in the 2017 NFL season, with 59% of all bets being placed on spreads. This may seem like a complicated concept, but it’s actually very easy to understand. When you make a spread bet, you’re effectively saying that you think the total score of the game will be within a certain amount of points. For example, a -110 spread on the total scores of the New England Patriots – Philadelphia Eagles game means that you think the game will end up being a tie, with the total scores being 11-10. The payout for this type of wager is simply the amount that you bet, plus or minus the bookmaker’s commission. For example, if you bet $100 on the spread and it ends up being a tie, then you’d receive $110, plus your $100 wager, plus the bookmaker’s commission. This is again, a very popular and easy way to wager because it’s so easy for everyone to understand. Even people who’ve never waded into the world of sports betting may know what a spread bet is because they see them all the time on sports channels. This is why spread betting is one of the more popular forms of betting on sports. However, this type of betting has its pitfalls. One of the biggest is that you have to be right on the money line or spread bet to win. If you’re wrong, then you lose your entire wager, plus the bookmaker’s commission. This is why it’s always a good idea to do your research before placing a bet on a game. Learning to read an odds board is a great way to familiarize yourself with the different options available, so that when the time comes to make a wager, you can do so confidently.
Total Score
Total score wagering, or simply scoring bets, are simply placing bets on the total combined scores of the game. For example, the total scores of the New England Patriots – Atlanta Falcons game were 36-30, so people who placed a bet on this game received a payout of around +150. This is because the over/under on the total combined scores of the game was 31, which gives the Patriots a 1-in-150 chance of winning. When you make a total score wager, you’re effectively saying that you think the total score of the game will be within a certain amount of points. The payout for this type of bet is the same as a spread bet, plus or minus the bookmaker’s commission. However, one thing that you need to keep in mind when making a total score wager is that the more specific you can be with the amount of points you’re expecting the better. If, for example, you’ve got an idea that the game will end up being a 30-27 score, then you’re better off just picking the 30s, rather than trying to guess exactly how many points it will be. This will make all the difference in the world, and give you that extra edge that you need to win.
Proposition
This type of bet is made on the outcome of a game. For example, the proposition bet for the Super Bowl says that the New England Patriots will win the game 21-19. These types of bets are more difficult to win than the others because the odds are generally longer. The payout for winning a proposition bet is simply the amount that you bet, plus or minus the bookmaker’s commission. However, unlike the other types of bets, you’re not setting a limit on the amount you’ll wager. When you place a proposition bet, you’re basically saying that you think the game will end up with a certain result, but you’re not necessarily saying that you think your chosen team is going to win. This is why it’s named a proposition bet: your chosen team may not always win, but it will almost always be within the odds that you specified. Learning to read sports books and following sports news can help you form an opinion on which teams are most likely to win, and make winning proposition bets easier. You can also use this form of betting to test out ideas, or simply to make some extra money on a game that you think is going to end in a draw or push.
Common Examples
There are hundreds of different sports that you can wager on, so it would be impossible to create a comprehensive guide for every possible scenario. However, it’s a good idea to learn one or two sports in advance, so that when the time comes to make a wager, you’re not completely lost without any idea of what is going on. Learning to read an odds board and follow sports news is a great way to familiarize yourself with the different forms of betting that exist, and help you choose which one is best suited to your personal skills. Here are some common examples of bets to get you started:
Over/Under
An over/under wager is exactly what it sounds like: you’re placing a bet on whether the total combined scores of the game will be over or under a certain number. For example, the total combined scores of the New England Patriots – Jacksonville Jaguars game were 33-27, so people who placed an over/under wager on that game received a payout of 11-10. These types of bets can be rather difficult to win, but if you’re looking for an easy form of wagering that has a low risk of losing, then over/under wagers are your answer. Just remember that if you’re wrong, you lose your entire wager, plus the bookmaker’s commission.