In a recent article for the SBC, Richard Foster noted that:
“The price paid to settle all winning bets on a particular series is known as the series price. This can be markedly different from the game price and is dependent on a number of variables including the league and stage of the series.”
While this may seem like gibberish to the uninitiated, getting into the nitty gritty of the matter can be rather enlightening.
Understanding the series price allows for some interesting insights around gambling on sports. For example, if you predict that the Chicago Cubs will beat the Cleveland Indians in the World Series, you might consider betting a couple of bucks on the series result. You’d then win your money back (plus some) if Chicago actually does end up winning the series, as the under 2.5 points spread would’ve won you both the money and the bet.
Of course, since you’re analyzing the series price, you may also consider betting on other events happening in the series. For example, since you’re already backing the Cubs, you may consider wagering that Boston will win at least one game in the series. That’s a pretty bold move, but one that may very well pay off for you.
What is the Difference Between the Game, Series, and Total Prices?
The game price is the official price set by the league for a particular game. Typically, this is the price you’ll pay to attend the game and is often the same for everyone. However, in some cases it can vary from game to game or be above or below the usual price range. This is usually due to the opponent or how popular the team is.
The series price is determined by the results of the previous games in the series. If you’ve been following along, you may notice that the Indians are currently leading the series 3-0 and all of the games have been very close. Based on this information, you’d expect the series price to be somewhere in the vicinity of 3 points. After all, the series is now tied at 3 games apiece.
The total price is the sum of the game and series prices together. This is the price you’ll usually see listed on the board or in the program when making a wager. As a rule of thumb, you can often assume that the total price will be the sum of the game and series prices together, sometimes with some additional taxes and fees tacked on at the end. In some cases, you may have to pay a little extra for the privilege of using a credit card.
When Are The Series Most Likely to End In A Sweep?
If you’ve been keeping up with the series so far, you may have noticed that the Cubs haven’t really let up all that much. They’re now up 3-1 over the Indians with just one more game left to play. Based on this, you may consider betting on a full or partial win by the Cubs. This would mean an end to the series in just four games rather than the usual five.
While this may be a convenient way for you to play the game, keep in mind that the odds of this actually happening are very slim. Based on human nature and the laws of probability, you may assume that the series will eventually end in a draw or in favor of the home team. So, while it may be fun to think about betting on a sweep, remember the odds are against you!
What Is The Home Field Advantage?
If you follow sports, you may be familiar with the concept of home field advantage. Simply put, this is the advantage teams enjoy when playing at home. Whether it’s the crowd or the familiarity of the surroundings, there’s usually something unique about a game played at a neutral site as opposed to one played at the home of either team involved. In most cases, this means that the home team will have an advantage.
This advantage can be monumental, particularly in the NFL. According to oddsmakers at BetOnline, the San Francisco 49ers have a 0.5 point home field advantage based on current lines, which means a one-unit price rise for the visiting team. For some other NFL teams, the home field advantage can be greater than one point, which translates to a two- or three-unit price rise for the away team. This can make for some pretty compelling reasons to root for your favorite team, regardless of whether you’re in San Francisco or Cleveland!
The point is, whether it’s the roar of the crowd or the sight of the hall of famers’ pennants, a game played at the home of a great sports franchise is always special. It’s something you don’t get at a neutral site. So while it may be fun to think about betting on the home team, remember that the odds are usually against you.
To summarize, the series price is the sum of the game and the series. In most cases, you’ll see this figure listed in the program or on the board at the casino. Sometimes it can also be found on the website of the league or team. This is the price you’ll usually see quoted when placing a wager during or after the game.
As Richard Foster noted in the SBC article, “The price paid to settle all winning bets on a particular series is known as the series price. This can be markedly different from the game price and is dependent on a number of variables including the league and stage of the series.”
These variables make for some interesting distinctions that can help you understand the betting landscape better. For example, if you follow the college football scene, you may have noticed that the game price is usually higher for conferences like the Big 12 or the SEC. The higher cost of traveling to and from games and the greater demand for tickets made these conferences, and the teams within them, more valuable. This is reflected in the higher series price. As for the stage of the series, teams usually charge more as the series progresses. For example, in a seven-game series, the first four games are usually more expensive than the last three. While you may assume that the seventh game would be the most expensive one, this isn’t always the case; sometimes games six and seven can be more expensive than game five! As for the league, newer leagues like the A-list Soccer League charge more than the NFL does for a series. This is mostly due to the fact that there are more games and the demand for tickets is higher. It also has something to do with the quality of the tickets, too.
Taking the time to learn the differences between the game, series, and total prices can help you understand the betting landscape better. If you find that there are varying prices for similar games or that one price is a bit higher than usual, this may be an indication that there’s a mathematical advantage to be had. However, you’ll need to do a little bit of homework before placing any wagers. Only then will you be able to maximize your winnings and minimize your losses.