There is so much confusion out there regarding sports betting odds and goals. So let’s clear the air and expose some of the tricks that bookies have used to trick you into betting on them.
The Bookie’s Perspective
When you want to place a bet, the first thing that comes to mind is the bookie. What do they want from you? What is their strategy? What are they doing to get your business? To give you a better idea, let’s take a look at their point of view.
When you walk into a bookie’s office, the first thing that you will see are the odds. The odds are what they offer for specific sports. For example, the NBA odds are 4.0, or 4 to 1, and there are 60 points in a game. So if you wager $100 on the over/under of the score, you will win $400 because the score will hit or exceed the number you bet on.
The way the odds are set is vital to understanding sports betting. If you are new to this kind of betting, let’s take a look at some of the tricks that bookies use to get you to pick them.
Hidden Odds And Exposed Favors
Some bookies will tell you the odds are set fairly, but don’t tell you the whole story. What they don’t want you to know is that the favorites have an advantage, otherwise known as a ‘favored’ score. For example, let’s say the favorite is the San Francisco 49ers and the under is set at 3.0. Well, guess what? The 49ers have an advantage in this case, because they have the home field advantage. Don’t believe me? Try it out for yourself. Place a $10 wager on the San Francisco 49ers and if they win, you will win $30. Now you know how the favored score works and how important it can be to play against the odds.
Choosing The Right Bet
One of the first questions you will ask yourself when you want to place a bet is, “Which game should I pick?” Since you can place wagers on almost any sporting event, it’s important to understand the most profitable bets according to the sportsbooks. A good place to start is the over under betting. Basically, this is a betting scheme in which you wager on whether the total amount of goals (plus) or goals (minus) will win the game. For example, if you think there will be more than two goals in the game, you can place an over under bet on the total amount of goals (plus or minus).
To get an idea of how this betting scheme works, let’s take a look at some examples.
Over/Under Odds Examples
Odds are usually set in a way that makes sense, like for the Super Bowl or the World Series. But sometimes they can be a little tricky to understand. For example, did you know the over/under odds for tennis are always set to even money? This is because the player who wins the first set usually wins the match. Therefore, the total number of sets played has no effect on the outcome of the match. Another example is the horse racing betting odds. In most cases, you will find the odds are set to 1.5 or 2.0, which means the favorite will win half or two-thirds of the time.
Understanding The Two Different Sets Of Goals
There are two different sets of goals that you will come across when betting on sports. The first set is the stated goals, which you will find on the websites of the leagues or teams. These are the goals that the bookies are required to pay out on. For example, the Pittsburgh Steelers have a goal of 14 points, which means if they score 14 points or more, they will win the game. The second set is the implied goals, which are the goals that the bookies wish to achieve, but aren’t necessarily required to pay out on.
For example, if the Steelers win the game by 6 points, the implied goal is 14 points, but that doesn’t mean the bookie has to pay out on that goal. What happens is the points difference between the stated and implied goals determines how much the bookie owes you on your wager. For example, if the stated and implied goals are the same, then you have a $0 wager. However, if the stated goal is 2 and the implied goal is 4, then you have a $2 wager. Keep this in mind when placing a bet, because sometimes the stated goals can differ from the implied goals. This is why you always want to choose the odds that make sense for you based on the betting scheme you prefer to use.
Some Final Tips
Before we wrap up, let’s remind you of some useful tips that can help make your sports betting journey more profitable. First of all, make sure you have a good understanding of basic statistics and odds. This will allow you to place more informed wagers. For example, if you are aware that the favorite has a 15% chance of winning, but the under has an 11% chance, you have a better chance of winning if you bet on the under. The opposite is also true. In this case, if you want to place a wager, you should go with the favorite.
Secondly, make sure you stay on top of the news. You can do this by following the various sports blogs that cover the news surrounding your favorite teams and athletes. Additionally, many news organizations, such as ESPN, release daily odds that you can use to your advantage. For example, if you see that the Tampa Bay Rays have odds of 3.0 to win the World Series, but you think they have a chance of beating the Yankees, you can place a wager on the Rays. As long as you have an edge in the betting odds, you can win money. This is why it’s always a good idea to keep good notes on what sportsbooks you have accessed in the past and what odds you prefer to use.
Above all, make sure you read the T&Cs (terms and conditions) of the bookies you are dealing with. This way, you know what you are getting into. Some sportsbooks have ridiculous T&Cs that you have to sign when you make a deposit, or they will ask for your social security number. These are red flags, so be aware of them. Finally, make sure you play responsibly. This means avoiding online gambling in states where it’s prohibited, keeping an eye on your budget, and avoiding problem gambling. Above all, make sure you understand the difference between winning and losing, because they are two very different things. If winning doesn’t feel like a good idea, then you should probably stop playing. There are plenty of other games out there, and you will surely find something that suits your skills better.