Bethinking a bet is a common thing for sports fans. When one thinks about sports and betting, one usually thinks about football or horse racing. However, there is so much more to betting than meets the eye! While watching a game or listening to racing results, you may have wondered what exactly goes on behind the scenes. What does the “ev” in EV betting mean? Who are the experts behind the scenes making all the calls? How confident can you be that the lines are actually fair? These are some of the questions that you might ask yourself after reading this article. We will try to answer these questions and more! This article will give you a better understanding of what an even or odd-even split means, how confidence levels work, and more!
What Does Ev Mean Betting?
If you’re unfamiliar, an even bet is when both teams receiving equal value (e.g. $1 each) for a particular game. This is usually the case when the spread is even (e.g. the Broncos -3.5 or the Jaguars +3.5). If the spread is odd (e.g. the Broncos -3 or the Jaguars +3), then the bet is considered an odd-even bet. For example, if you bet $100 on the Broncos and they win by a score of 35-20, you win $150 (100 x 1.5). If they win by a score of 20-35, you lose $150 (100 x 1.5). So, in essence, you have a 50% chance of winning or losing based on the outcome of the game.
Why Should You Avoid Going Overboard?
When you’re new to betting, it’s tempting to want to bet everything you have on every game. After all, if you’re going to lose everything, you may as well go all the way. While this might work for entertainment purposes for the time being, in the long run, it’s probably not the best idea. Why is this? First of all, if you go over a certain limit on how much you can wager, then all your winnings will be taken away. Also, trying to figure out the “right” amount to bet is tricky. You don’t want to go too much, otherwise you’ll feel bad if the team you’re betting on loses. You also don’t want to go too little, either, because if the spread happens to be an odd number (see example above), then you’ll lose money regardless of what happens.
Confidence Levels And Respective Weights
Many sportsbooks will give you an indicator of how confident they are in the outcome of a game. This is usually shown in levels, with higher levels meaning more confidence. For example, if you’re betting on the Broncos -7, you’re essentially placing a $100 bet and the sportsbook is backing up that wager with $120. This means they’re very confident the Broncos will cover the spread. If the spread is between 3 and 7 points, then this is a safe bet to make. Conversely, if the spread is between -7 and -3 points, then this is a risky bet to make, because it could go either way. When making a wager with high confidence levels, the sportsbook is assuming you have some level of knowledge that the outcome will be the same as what they’ve predicted (based on the trends of the previous games).
Respective weights are used to determine the “value” of particular teams or players. Say the Broncos are a -6 favorite and the spread is set at three points. You’ll receive $6 on a $1 wager, which is a 60% return. If the spread were -9 points, the return would be 42% and if it were -12 points, the return would be 33%. In short, the closer the spread is to 0 points, the greater the value and vice versa. For example, if you were to bet $100 on the 49ers +5.5, you’d lose $150 (100 x 5.5). However, if the spread were -5.5 points, you’d win $125 (100 x 5). The return on this bet is 45% (win $100, lose $125). Another example would be the Seahawks -7.5 spread. If you bet $100, you’d win $150 (100 x 7.5). However, if the Seahawks were -11.5 points, you’d lose $125 (100 x 7.5). The return on this bet is 41% (win $100, lose $125).
These are just a few of the things you need to know about betting. As you begin to delve into this area of the sports world, you’ll want to become familiar with as much as possible. Keep in mind, there is a lot more to it than most people think and it can be quite complicated. With that being said, if you’re looking for a way to enjoy your sports fix and make some extra cash, then betting can be a great option. Just remember to keep things in perspective and enjoy the experience. Remember what Shakespeare said about life: “it’s not all doom and gloom.”