You’ve probably heard of the expression ‘all fun and games until someone loses’. While it is true that there is usually fun in sports betting, you must still maintain a healthy dose of skepticism, especially when gambling online. Just because the games are free doesn’t mean that you’ll come away unscathed. There are plenty of risks involved with online sports gambling that you need to understand and be aware of.
The main question is this: what does the negative and positive mean in betting? Let’s dive into that.
Negative Means Loss
When you place a wager on a sporting event, it doesn’t necessarily mean that you’re predicting a win or a loss. What it usually means is that you’re placing a bet on which end of the match the game will end. This is called an ‘over’ or ‘under’ bet, and it’s extremely popular in sports betting. If you think about it, it’s not really that different from playing the favorite game in Vegas. You’re essentially predicting the score of the game. So, whenever you make a wager on an outcome of a sporting event, you’re essentially placing a wager on the other outcome as well. For example, if you think the Chicago Bulls will beat the LA Lakers, you’re essentially saying the Lakers will cover the spread, which is usually a scoreless tie.
This is why over and under betting are often called ‘pits’ against each other. If you win an over bet, you win the ‘over/under’ bet. When you lose an under bet, you lose the ‘over/under’ bet. However, it is most advantageous to have a spread wager, where you win or lose based on the outcome of the game. This is why most sportsbooks offer the best of both worlds. They take care of the action for you, so all you have to do is sit back and relax, and let the books do the thinking for you.
Positive Means Profits
Nowadays, people don’t usually think of betting in terms of losses and gains. When you place a wager on a sporting event, you’re usually not doing it to lose money. You’re usually doing it because you think there is a chance you’ll profit from it. For example, let’s say you’ve bet on the Toronto Maple Leafs to win the cup this year. If the Leafs win the cup, you’ll profit because the odds of them winning are very high. So are the odds of them losing. It’s basically a 50/50 chance, which is why many people like to place wagers on even games, where they’re essentially not sure which team will win.
These types of bets are usually referred to as ‘prop bets’ because you’re essentially ‘betting’ on something that is already fixed. For example, let’s say you’ve already placed a bet on the Green Bay Packers to win the Super Bowl this year. If they win, you’ll win your bet. Nothing more needs to be said. However, if they lose, then you’ll lose your bet, but the casino or bookie will give you the money back, plus some. So, even though you lost, you came out ahead in the long run. This is why many people like to place these types of bets. They’re usually pretty safe, and they give you the opportunity to win or lose based on a whim. At least, that’s how it’s supposed to work. Sometimes it doesn’t work out that way though, and it’s because of the aforementioned ‘something’ that is already fixed. In that case, you might lose your money, and it’s not the casino or bookie’s fault. It’s your own fault for trusting them in the first place.
The Spread
The spread is also a type of wager, where you win or lose depending on the final result of the game. The difference with a spread wager is that you’re not betting on the outcome. You’re betting on which end of the spectrum the game will fall on. For example, let’s say you’ve bet on the Toronto Maple Leafs to win the cup this year. If they win, you’ll win because the odds of them winning are very high. However, if they lose, then you won’t necessarily lose all your money, because the odds of them losing are also very high. In other words, it’s a 100/0 spread, and you’ve essentially profited from the wager. This is why many people like to place bets on spreads, because they give you the benefits of both under and over bets without having to go through the hassle of trying to figure out which team will win. As a general rule of thumb, always try to avoid spreads unless you’re feeling lucky. They can be extremely risky, and it’s not always easy to figure out what the final score will be. When in doubt, go with a safe bet, like the over or under, or the point spread.
Probabilities
Last but not least, let’s not forget about the probabilities. Whenever you make a wager on a sporting event, there is always the possibility that you could lose. This is something that you need to keep in mind, especially if you bet on the outcomes, which are mostly likely to be determined by random chance, rather than skill or strategy. Even if you play perfectly, there is still a possibility that you could lose. For example, let’s say you’ve placed a bet on the Green Bay Packers to win the Super Bowl this year. If they win, you’ll win because the odds of them winning are very high. However, if they lose, then you’ll lose your bet, but the casino or bookie will give you the money back, plus some. So, even though you won, it was entirely by chance, and it’s something that you need to keep in mind, especially if you’re getting desperate, or if it’s your first time betting, or if it’s a high-stake bet, where you’re essentially losing a large amount of money, which could essentially devastate your financial situation. Just keep in mind that there is such a thing as winning, but it’s more of a miracle than anything else. It usually doesn’t happen, and this is why it’s important to understand the concept of losing as well.
When you place a wager on a sporting event, it doesn’t necessarily mean that you’re predicting a win or a loss. What it usually means is that you’re placing a bet on which end of the match the game will end. This is called an ‘over’ or ‘under’ bet, and it’s extremely popular in sports betting. If you think about it, it’s not really that different from playing the favorite game in Vegas. You’re essentially predicting the score of the game. So, whenever you make a wager on an outcome of a sporting event, you’re essentially placing a wager on the other outcome as well. For example, if you think the Chicago Bulls will beat the LA Lakers, you’re essentially saying the Lakers will cover the spread, which is usually a scoreless tie.
This is why over and under betting are often called ‘pits’ against each other. If you win an over bet, you win the ‘over/under’ bet. When you lose an under bet, you lose the ‘over/under’ bet. However, it is most advantageous to have a spread wager, where you win or lose based on the outcome of the game. This is why most sportsbooks offer the best of both worlds. They take care of the action for you, so all you have to do is sit back and relax, and let the books do the thinking for you.