The meaning of -490 in betting is as follows:
A bet of -490 means that you are placing a wager on a horse that has a 70% chance of winning.
A bet of +490 means that you are placing a wager on a horse that has a 30% chance of winning.
The meaning of -490 in betting can be a little tricky to understand. The – sign means that the bet is “against the spread” (more commonly known as “over/under”). When you see a number with a – sign in front of it, you are supposed to assume that the number is referring to the spread. For example, a bet of -210 means that you are placing a wager on a horse that has a 210 point “plus” (over) or “minus” (under) win probability.
In case you’re curious, the numbers in the previous two paragraphs represent the amount of money you would need to win to cover the cost of placing the wager. For example, a bet of $100 would result in a win of $120 (100 * 1.4) on the $100 wager, which would bring the total winnings to $240.
You may be wondering what differentiates a bet of -490 from any other bet. The main difference is that with a bet of -490, you are effectively betting “against the public” or “the masses”. A bet of -490 means that you are placing a wager on a horse that is most likely to lose, but you are doing so because you believe that the majority of people will bet on the underdog. Typically, bets of this nature will result in a large number of upsets. This is mostly due to the fact that people are more accustomed to placing wagers on losing candidates. However, you would be surprised how many times a bet of -490 has resulted in a win!
Why Place A Bet Of -490?
Placing a bet of -490 means that you are effectively betting on the “short side” of the bet. For example, if you are betting on the favorite, you are effectively betting “on the long side” because your money is on the opposite end of the win/loss scale. Since the favorite generally wins the vast majority of wagers, you stand to lose a large amount of money if your horse wins, but you will make very little if your horse loses. This is a situation that savvy bettors will avoid at all costs, especially when they are on the opposite side of the ‘line’.
The key benefit of betting on the short side of a bet is that you limit your losses. Since you only have to win by a little to make up for your losses, you are much more likely to win. The downside is that you are generally expected to win by a greater margin. Typically, bets of this nature will result in bigger payouts than usual because you are taking a chance on a win that was unexpected. However, if you are familiar with using online betting sites, you will know that unexpected wins are what keep the sites afloat. Every sport has unexpected results from time to time, which is why online betting exists in the first place.
What Betting System Do I Use To Calculate Wins And Losses?
You need to use a betting system to determine the wins and losses of your wagers. There are a number of different betting systems that you can use to do this, so make sure that you are comfortable using one that suits your needs.
One of the simplest and most popular systems used by amateur and professional bettors alike is the favorite-to-odds-formula, which many people also refer to as the “parlays and teasers” system. For those new to betting, parlays and teasers can be somewhat tricky to grasp, so let’s take a look at how they work.
The first step of the parlays and teasers system is to choose your favorite teams or athletes. You can choose a single team or combine several teams into one selection. In case you are new to betting, it is imperative to research the teams and players beforehand, so that you can choose the best possible combination. You will then need to define the odds that you are willing to accept for your wager. Once you have done that, you can move on to the next step.
Step Two: Place Your Wagers
The next step is to place your wagers. This is simply the process of setting your original picks or teams (called “bets”) against another set of picks or teams (“counter-bets”). You have to ensure that the total cost (wagers * odds) for each counter-bet does not exceed the amount that you are risking. Once you have done that, you can move on to the last step.
Step Three: Calculate Wins And Losses
The last step of the parlays and teasers system is to calculate your wins and losses. To do this, you will need to make two separate columns on your betting slip (or sheet): one for wins and the other for losses. For each counter-bet, you will need to record the amount won (wagers * odds) and the amount lost (parlay_losses * odds). Then, you can add up all of your wins and subtract all of your losses to determine how much you won or lost overall.
The key takeaway from this summary is that you have effectively bet against the odds. If you want to place a bet of -490, you have to do so on the short side of the bet. You will need to use a system to determine your winnings and losses so that you can properly record them on your betting slip. Additionally, you will want to make sure that you are following the rules established by the bookmaker (or online betting site) you are using, as these rules will determine how your winnings and losses are recorded. Finally, make sure that you are keeping up with the latest news about your chosen teams and players, as this can affect your wagering decisions. With a little bit of research and preparation, you are sure to enjoy placing winning wagers even when the favorite wins, as long as your system is sound!