An over/under betting system is when two or more bookmakers or casinos agree to take bets on the same event, but on the total number of goals (or points) scored by either team. In other words, they agree to stake an equal amount on whether the game will end up with more or less goals than expected.
A good example of this type of betting system would be two bookmakers, one in Las Vegas and one in London, who both want to attract sports fans to their sites. So they settle on an over/under of 10 goals for the game. Someone backs the over and someone the under. If the game ends up with 11 or more goals, then the person backing the over wins, otherwise, the person backing the under wins.
These types of fixed odds betting systems are not new. The main difference now is that more and more sportsbooks are willing to engage in over/under wagering because people are trying to profit from games that end up above or below expectation. This is especially true in major sport like American football, where the over/under market makes up about 10% of total wagering in some US states.
How Does It Work?
The over/under betting system works because there is more demand for short rather than long shots. In other words, people are more likely to lay down bets on whether the total number of goals in the game will be higher or lower than expected. This is especially true since the spread – the amount of money wagered on the favored team compared to the underdog – is so wide, which leads to more volatility.
Here is an example of how the over/under betting system works in practice. Let’s say you are at a Las Vegas sportsbook and you want to place an over/under wager on the Boston Red Sox. You will first need to locate the Red Sox game on the schedule. You then need to find the total number of goals scored in each quarter of the game, as well as the total number of goals scored up to that point.
When you have all of that information, you can proceed to the betting window where you will find a number of options to choose from. One of the popular choices in this case would be to bet on whether the total number of goals scored by the Red Sox will be higher or lower than the average of the last 10 games they played in. (Keep in mind: in the over/under betting system, the odds are fixed and designed to make money no matter what happens in the game. What happens is mostly determined by luck and chance.)
Now let’s say the Red Sox score 17 goals in the first quarter and the total number of goals scored up to that point is 25. In that case, you would win the bet because the number of goals you predicted (17) was higher than what actually happened (25). However, if they score only 3 in the first, you would lose because your prediction (17) was lower than what actually happened (23).
The point is that with a little bit of research, you can usually figure out whether or not you will win an over/under bet. You just need to make sure you are not choosing the wrong team. In the above example, since you are backing the under, if the Red Sox score only 3 goals in the first quarter, you would lose your money. However, if they score 17, you would win because your prediction (17) was higher than what actually happened (25).
In some cases, two or more bookmakers may also want to take bets on a sporting event – each one responsible for taking bets on a different team. In that case, they would need to come to some sort of agreement on what the over/under number should be. They can either agree to have it be the total number of goals scored by both teams, or they can decide that the highest scoring team will determine the over/under number. It is also possible that one bookmaker could act as the host for all the teams involved in the game, taking bets in the first quarter and then passing them along to the other bookmakers who would take further action based on the outcomes of the first three quarters.
Why Are Bookmakers Interested In Over/Under Betting?
There are several reasons why sportsbooks in general and bookmakers in particular are interested in over/under betting. To start with, they can make more money off it. For example, in the above example, if the Red Sox score 17 goals and the Patriots score 24, then your profits would be 17 – 24 = 33 cents. On the other hand, if the Red Sox score 23 and the Patriots score 17, then your profits would be 23 – 17 = 26 cents. In both cases, you would win because your prediction was higher than what actually happened. However, in the first example, you would make more money because you were able to combine two bets into one.
Other than making money off of it, sportsbooks also get to keep all the wagering activity on their site. This means that they are able to generate additional revenue through affiliate marketing, which earns them a commission for each bet they take. In the above example, they would generate $17 in affiliate marketing revenue. This is money they would not have generated if they had simply taken a regular wager on the game.
Finally, bookmakers get to avoid taking a large hit on a wager they are unsure of. This happens when a team they have bet on scores and wins, but the event ends up being cancelled or postponed. In that case, they lose not only the amount they wagered on the game, but also any profits they might have made from previous games in which they took a wager on the same team. However, in the over/under betting system, this is not an issue since they have an agreement with the other bookmaker or casino to share the losses. (This also means they get to keep all the winnings if the game ends up being won by the team they were sure would lose.)
Are There Any Drawbacks To The Over/Under Betting System?
While there are many benefits to the over/under betting system, there are also some drawbacks. One big one is that because the spread is so often greater than 5 points, there is a lot of risk involved. For this reason, this type of system is usually only used by big-name teams or leagues that are attracting a lot of interest. Even then, it is still considered very risky since there is no way of predicting the outcome of a game. (This is also why some bookmakers might only offer this type of wager for long-distance drives or for fantasy football leagues.)
What Is The Best Way To Place An Over/Under Bet?
You should approach placing an over/under bet with extreme care. The key is to pick your team and then find the best possible odds available for the game. As mentioned above, this can be a bit tricky since you never know what kinds of bonuses or promotions the bookmaker might throw in.
To start with, you should always pick the team you believe will win. This is easier said than done, since in many cases it is hard to know how successful a particular team will be until the season is over.
Another good strategy is to find the best odds available for a single game and then use that as a guideline for all your matches. This is especially useful when you are trying to decide what kind of wager to make. If you are getting the best odds available for a regular wager and you are not sure if that is because they are giving you the best possible odds for an over/under wager or an upset wager, then it might be worth making an upset wager. (This is particularly useful if you are trying to decide whether or not to bet on a game that is going to be highly competitive or if you are just trying to follow the favorite team.)
The key is to be a bit patient and build up a bankroll of at least $100 before you start trying to profit from over/under betting. (This is also a good rule of thumb for any type of betting system, though.) In many cases, it is also beneficial to spread your wagers out over a number of games to minimize the risk of losing all your money in one fell swoop. (This becomes even more important when you are placing larger wagers because the chances of losing a significant sum of money quickly becomes higher.)