Many sportsbooks offer odds on over/under scenarios, also known as totals, but what exactly are they? How do they work, and is there anything more than simply betting on the total number of goals in a game? Let’s dive into the world of over/under betting and see what it’s all about.
The Basics
Over/under betting is simply betting on whether one team will score more or less than the other in a game. For example, if you believe the Los Angeles Lakers will have one more point in the 4th quarter than the New Orleans Pelicans, you can bet on the total points in that game. In general, over/under bets will have two teams involved and will usually have totals, such as points or goals, as the metric. Sometimes, however, a team will win by virtue of being superior in all statistical categories. In those cases, you can bet on the over/under to see which team comes out on top.
The odds on each side of the bet will be determined by the number of goals or points the teams are estimated to have in the game. For example, if you believe the New Jersey Devils will beat the New York Rangers 3-2, and you want to bet on the total number of goals in the game, your odds will be 3-2. If you believe the Rangers will win the game 5-4, your odds will be 5-4.
Variety Of Odds To Choose From
It’s one thing to simply have options in the form of either/or propositions like betting on the total number of goals in a game or the total number of points, but what if you want to bet on a team that’s supposed to win based on some kind of formula? For that, you can turn to online sportsbooks that offer variety in the form of over/under combinations. Some sportsbooks will even allow you to create your own over/under combinations, such as team A is supposed to win, but team B is under 2.5 goals, so if you want to take that bet, you’d have to lay some cash upfront because the sportsbook will likely require a 50% deposit for that.
More Than Meets The Eye
Total number betting, also known as Tote-bet or over/under betting, is just one form of combination betting available at online sportsbooks. If you’ve ever played the odds on an event where you had to pick two teams to win, you might have tried your hand at parlaying or teasers. In parlaying, you pick two teams that you believe will win the race (or game, or match) and the bookmaker will give you the better odds on the selected teams. In a teaser, you pick two teams and the bookmaker gives you the best odds on the chosen teams.
However, the amount you win or lose in combination betting is usually more than you’d win or lose in single-match betting. That’s because you’re combining multiple bets and usually have the opportunity to win some big money if your picks are right. For example, if you place a grand total bet on the New York Yankees and Los Angeles Dodgers to lose the World Series, you could end up losing your entire investment, but if you bet on the Yankees and Indians to lose, you stand a chance of winning $100,000.
One of the biggest draws of over/under betting is the big money that can be won. It’s no wonder why people are so hooked. However, it’s important to keep in mind the risks that are involved. As we mentioned, some sportsbooks will only take your money if you win, so it’s essential that you understand how the risk/reward works in your favor before you get started. Just remember: the greater the risk, the greater the reward, and vice versa.
The Mathematics Behind The Math
It’s one thing to be able to look at the box score or watch the game and see that the numbers add up to the final score, but what happens under the hood when all the bets are placed? Let’s take a quick look at some of the basic math behind the total number betting.
For every $10 you lose on a $100 bet on the total number of goals in a game, you’ll win $10. For every $10 you lose on a $200 bet, you’ll win $20. For every $10 you lose on a $300 bet, you’ll win $30. That’s assuming you’re betting on the total goals in the game and the numbers are in your favor. The amount you win or lose will be determined by the overall balance of all the bets on that game. If you’re winning, you’ll make money. If you’re losing, you’ll have to cover your losses with more money or seek alternative means of repayment.
Under The Hood
When you enter a sportsbook, you’ll see the option to view the odds on any number of games or matches. For the sake of argument, let’s say you’re in a hockey betting ring. You decide to bet on the Pittsburgh Penguins to win the Stanley Cup this season. Looking at the odds on the other games in progress, you see the New Jersey Devils are playing the San Jose Sharks. It’s 4-1 for the Sharks and they’ve won the first two games. You decide to parlay the Devils and Sharks games, and you want to bet $100 on the result of the match. The problem is the sportsbook will only take your money if the Sharks win. Is it worth the risk for a chance at $20,000? Not if you’ve got other options. The math behind the total number betting doesn’t look good for you, given the amount of money you’ve got on the line. However, you decide to roll the dice and hope for the best.
Final Takeaway
If you’ve ever played the odds or tried your hand at parlaying or teasers, you know how tempting it can be to bet on the total number of goals in a game or the total number of points in a match. For that reason, many sportsbooks offer odds on over/under betting, also known as totals, and it’s a safe bet to believe there will always be someone willing to take your bet. Just remember: the greater the risk, the greater the reward, and vice versa.