The sports betting world has changed a lot in the last few years. The lines have become much more favorable for bettors, and the spreads have shrunk to almost nothing. These changes have made it much easier for those who wager to get a feel for what the betting odds mean and whether or not they want to join the fray.
When you open a sportsbook account with a major sports betting company, you’ll notice that the odds fluctuate a lot. If you’re not familiar, the basic idea behind sports betting is that you predict the outcome of a particular game, and then the sportsbook will credit you for the difference between what they think the game will end up being decided in favor of and what you predict it will be decided in favor of. For example, if you’re betting on the favorite, they’ll pay you five hundred to one; if you guess right, you’ll get five hundred, plus whatever you earned on the bet in the first place. The spread will shrink or expand based on the over-under amount that is being bet – the more people betting on a side, the narrower the spread will be and the more favorable the line will become. This is how sportsbooks make their money!
If you want to become a daily fantasy sports player or a poker player, then understanding the significance of +525 betting odds is essential. These odds are usually associated with high-profile sporting events with large crowds and nationalistic fervor – like the Super Bowl, the World Cup, and the Summer Olympics. During these events, the betting odds will generally be very favorable towards one team or player. But what does this mean for everyday, recreational sports bettors?
The Super Bowl Means Very Fewer Points
One of the first big changes you’ll notice when you start betting is that the odds usually narrow drastically during the month of February. For example, if you place a $10 wager on the New England Patriots at +300 odds to win the Super Bowl in February 2022, you’ll earn $30 regardless of whether or not the Patriots win. In other words, the Super Bowl means you’ll win $30 to one. But in February of 2021, the same wager will pay you only $13.50 – the point differential is shrinking due to the COVID-19 pandemic, which postponed the championship game until the end of 2021.
Before the pandemic, the point differentials were typically 80 to 120 points – sometimes even more than that. But since the beginning of March 2021, the New England Patriots are actually only 3.6 points favored to win compared to the point spreads we saw leading up to the COVID-19 pandemic. This is actually a really interesting phenomenon, because typically, sportsbooks will favor the home team during a time like this. So if you’re betting on the New England Patriots at that point, you’re essentially betting against them, because they’re not playing at their usual home stadium! However, you’ll make an excellent amount of money, because a small slice of the American population truly loves this particular football team and will be ecstatic to see them win the Super Bowl.
Football Is One of the Most Popular Sports To Bet On
Basketball, baseball, and hockey are the other big three American sports, but chances are that you’ve never given a lot of thought to wagering on football. Maybe it’s because the sport doesn’t have the same following internationally. But if you’re looking to place a wager on the upcoming Super Bowl LI, you might be surprised at how many people follow the game. Between the United States, Canada, and Mexico, professional football is incredibly popular. There is a huge amount of money to be made if you know where to look.
Some of the top sportsbooks will even list the Super Bowl as one of the top five sporting events for betting on. Of course, this depends on the odds that are available. The game is only a few weeks away, and with the majority of people in the United States locked down due to the pandemic, there is plenty of opportunity for adventurous bettors to make some money.
The Summer Olympics Means Bigger Spreads
The Summer Olympics are a bit different than the other sporting events mentioned so far. They don’t necessarily have as big of an international following, but they do attract a huge amount of attention from sportsbooks during the summer months. Much like the Super Bowl, there is a lot of money to be made if you know where to look. You’ll see a ton of oddsmakers’ props for the upcoming summer Olympics, which will greatly impact the spread of the game. You’ll notice that during the summer months, the lines typically expand a lot, which can make it quite difficult to determine what the betting odds mean. This is because there will be so many wagers being placed, and the spreads will generally be very wide.
If you’re visiting a sportsbook during the summer months and want to know what the odds are for the Chicago Cubs to win the World Series, you’ll have to do some digging. You might find some good information on websites like Odds Shark or OneOpinion, but you might also encounter some shady people who will try to trick you into betting on bogus teams or leagues. It’s best to do your research online and find trustworthy sources who offer up-to-date stats and information on all the major sports and teams. In the event that you find that the betting lines are not clearly marked or are hard to understand, it might be smart not to wager on that game.
If you’re new to sports betting or just want to get a sense of what the betting odds mean, it might be helpful to look at the other major events that are currently ongoing and what the betting lines are like there. This will give you a much better idea of what to expect and what kind of money to expect to win or lose.
The key takeaway from all this is that you should expect the odds to change a lot, but that does not necessarily mean that you’ll lose. Even during the pandemic, you’ll find that the line will fluctuate a lot, which could mean that you’ll win or lose depending on the sport and the circumstances at the time you place your wager. Just be sure to do your research online before making any kind of wager and finding out more about any dubious characters who might be trying to trick you into betting on their behalf. Just know that if you’re looking to place a big wager, it might be best to wait until the odds are more favorable and the spreads are closer together. But if you want to bet on the Super Bowl anyway, go for it! You’ll have plenty of opportunites to make a great amount of money during the rest of the year, but you’ll have to be smart about it. Even before the pandemic, the Super Bowl was one of the most popular sporting events to bet on, so you’ll definitely have competition.