Ever heard of ‘evens’ in betting? If you’re a regular gambler, then you will have come across this obscure terminology. It’s been around for a while, but it doesn’t get as much coverage as it deserves. Let’s take a closer look at what this phrase means in sports betting, shall we?
First Off, Some Background
Before we go any further, let’s review some of the basics of sports betting. If you’re new to the world of betting, then this article is going to be helpful. It’ll give you the lowdown on the meaning of evens and how it plays a role in gambling (hint: it plays a big role).
Basically, there are two groups when it comes to sports betting: the bookmakers and the casinos. The former group sets the spread and takes the risk (read: they get paid whether or not your bet wins), while the latter group is in charge of the game (hockey, basketball, etc).
The lines move frequently and they can be very steep, sometimes going down to single digits. This fact makes it easy for you to have your favorite team at a major disadvantage, which is why you should always check the betting lines before placing a bet.
What Is The Difference Between Evens And Odds?
When it comes to sports betting, the lines are very similar to the odds in casino games. Evens refer to the fact that there is an equal chance of winning with each betting option. For example, if you wager $100 on the Super Bowl and your bookmaker offers an even money (no edge) wager, then you’re getting exactly what you paid for—nothing more, nothing less.
This is in stark contrast to the odds in a casino. In roulette, for example, the house edge is 2.35 percent, so even money means that you’re giving the casino 2.35 percent of your wager. This number is subtracted from your potential winnings before the house takes its cut. When applying this rule to sports betting, you have to keep in mind that there are no house edges in soccer, tennis, or any other amateur or professional sporting events. This means that evens in sports betting simply means ‘even’.
Why Are Bookmakers Important In Sports Betting?
It’s important to keep in mind that bookmakers are extremely important in sports betting because the industry is mostly unregulated. This means that bookmakers can offer some very competitive rates to attract customers. In fact, the majority of online bookmakers offer better value and more pleasant betting experiences than many legal sportsbooks.
The downside is that there is no recourse if your bet doesn’t pay out as promised. This risk is mostly mitigated by placing sports bets within your means. If you’re looking to place a big wager on the Super Bowl and have the money to back it up, then do so, but keep in mind the risk as well as the potential benefits.
What Is The Difference Between Bettors And Gamblers?
In the world of sports betting, the term ‘gambler’ is mostly used in a derogatory manner. However, a real gambler is someone who is consistently seeking to increase their fortune through wagering. Typically, a gambler will put down a large sum of money on a single game, only to see it all disappear a few hours later. This is a risky game, to say the least, and it’s definitely not for the fainthearted.
On the other hand, a ‘bettor’ is someone who is trying to win money based on the performances of a particular team or player. The expectation is that the bettor will win something, which is why they are generally seen as being more favorable for the home team.
This is a very simplistic view of the betting world, but it’ll have to suffice for now.
Some Final Points
It’s worthwhile pointing out that lines are frequently changed after the final whistle. This is especially the case when there is a huge upset, such as a major upsets in the NBA or NFL. In these situations, lines are adjusted to reflect the new reality and in many cases, this will even out the odds to ‘evens’. It’s also important to keep in mind that the line moves constantly, so be sure to check the latest odds before placing a bet.
In addition to lines, it’s important to review a betting site’s terms and conditions before laying down any cash. It is highly unlikely that you will encounter an online bookmaker that is legitimate and transparent about taking bets. Checking for these important details frequently will help you avoid any unpleasant surprises when the dust has settled after the final whistle.
This article has hopefully answered many of your questions regarding evens in sports betting. It is a common misconception that evens means ‘even’ in this case, but rather, it simply refers to a situation where there is no inherent advantage to either side. Evens is typically used in conjunction with odds when discussing gambling, but it is important to keep in mind the difference between the two terms.