Sports Betting Guide - Sports Betting Explained

Why do people bet, first and foremost? People do it for all sorts of reasons - some like the thrill of the risk, some enjoy the challenge of trying to predict the future, and some do it for the potential financial gain. Whatever the reason, betting can be a fun and exciting way to add a bit of spice to your favorite sports or games. Just make sure to bet responsibly and within your means.

In simple terms, a bet is an agreement between two parties where one party (the bettor) agrees to pay the other party (the bookmaker or the house) a certain amount of money if a specific event occurs. This event can be anything from the outcome of a sporting event to the results of a political election or even the weather forecast. The amount of money that the bettor stands to win is determined by the odds, which are set by the bookmaker based on the likelihood of the event occurring.

If you're new to sports betting, understanding the basics is crucial. One of the most important things to understand is how odds work. When you place a bet, the odds determine how much you can win and how likely it is that your bet will be successful.

Odds are typically expressed as either a positive or negative number. A positive number, such as +200, indicates that a successful $100 bet would result in a $200 profit. On the other hand, a negative number, such as -200, means that a successful $200 bet would result in a $100 profit.

But what do these numbers actually mean? Put simply, they reflect the bookmaker's assessment of the likelihood of a particular outcome. A positive number indicates that the outcome is considered less likely, while a negative number suggests that it is more likely.

Understanding how to read and interpret odds is essential for successful sports betting. But it's not just a matter of understanding the numbers themselves - it's also important to consider factors such as the form of the teams or players involved, any injuries or suspensions, and other relevant factors that could influence the outcome of the event.

Let's say you're interested in betting on an upcoming NFL game between the Kansas City Chiefs and the Tampa Bay Buccaneers. The bookmaker has set the following odds:

Kansas City Chiefs: -150

Tampa Bay Buccaneers: +200

Draw: +250

These odds tell us that the bookmaker believes that the Kansas City Chiefs are the favorite to win the match, with a greater chance of success than either the Tampa Bay Buccaneers or a draw.

If you decide to bet $100 on the Tampa Bay Buccaneers to win, you would stand to win $200 (plus your initial stake of $100) if your bet is successful. This is because the odds for the Tampa Bay Buccaneers are +200.

Alternatively, if you wanted to bet on the Kansas City Chiefs to win, you would need to bet $150 in order to win $100 (plus your initial stake of $150). This is because the odds for the Kansas City Chiefs are -150.

It's worth noting that odds can change leading up to an event based on factors such as team news, form, and betting patterns. Therefore, it's important to stay up-to-date with the latest developments and adjust your betting strategy accordingly.

When it comes to sports betting, there are many different betting lines. Whether you're a seasoned gambler or a curious beginner, it's important to understand the different types of bets available to you and how they work. In this section, we'll take a closer look at the most popular types of sports bets, including point spread bets, moneyline bets, totals (over/under) bets, futures bets, and prop bets. We'll explain how each of these bets work and how to decide which type of bet is right for you.

If you're new to sports betting, the sheer number of betting options can be overwhelming. From spread betting to moneylines and teasers, there are many different types of bets you can make. In this article, we'll take a closer look at the most popular types of bets offered by online betting sites in the US, including NBA spreads, over/under betting, handicap bets, moneylines, teasers, prop bets, and parlays.

Spread betting is a type of sports betting that involves placing a wager on the point spread of a game. In spread betting, the sportsbook sets a "spread" or "line," which represents the expected difference in score between the two teams playing the game. The bettor then places a wager on whether the actual difference in score between the two teams will be greater or less than the spread set by the sportsbook.

For example, let's say the New York Giants are playing the Dallas Cowboys, and the sportsbook sets the spread at -7 in favor of the Cowboys. This means that the Cowboys are expected to win the game by at least 7 points. If you bet on the Cowboys to cover the spread, they would need to win by more than 7 points for you to win the bet. If you bet on the Giants to cover the spread, they would need to lose by fewer than 7 points or win the game outright for you to win the bet.

NBA Spreads

NBA spreads are not fundamentally different from spreads in other sports, including football, baseball, and hockey. The basic idea of a spread bet is the same across sports: the sportsbook sets a spread or line, representing the expected difference in score between the two teams playing the game, and the bettor places a wager on whether the actual difference in score will be greater or less than the spread.

In the case of NBA spreads, the spread is specific to NBA games, and the bettor is betting on the point spread of a specific NBA game. The odds and spread for NBA games may be different from those in other sports due to the unique nature of the sport and the teams playing. For example, a high-scoring team like the Golden State Warriors may have a larger spread than a low-scoring team like the San Antonio Spurs.

Moneyline bets are a type of sports betting that involves placing a wager on which team will win a game outright, regardless of the point spread. When you place a moneyline bet, you are simply betting on the team you think will win the game.

For example, let's say the New York Knicks are playing the Brooklyn Nets, and the sportsbook has set the moneyline odds at +150 for the Knicks and -200 for the Nets. If you bet $100 on the Knicks, and they win the game, you would win $150, for a total payout of $250. If you bet $100 on the Nets, and they win the game, you would win $50, for a total payout of $150.

The odds for a moneyline bet can vary depending on the teams playing and their perceived likelihood of winning the game. A team that is considered a heavy favorite may have negative odds, while an underdog may have positive odds. In the example above, the Nets are considered the favorite, as they have negative odds, while the Knicks are the underdog, as they have positive odds.

Moneyline vs. Spread

Moneyline bets can be a simpler and more straightforward way to bet on a game than spread betting, as you are only betting on the outcome of the game, rather than the point spread. However, moneyline bets may have less favorable odds than spread bets, especially when betting on a favorite.

Over/under betting, also known as totals betting, is another popular type of sports bet. When you place an over/under bet, you're betting on whether the total combined score of the two teams will be over or under a specific number set by the sportsbook.

For example, let's say the New England Patriots are playing the Kansas City Chiefs, and the sportsbook has set the over/under at 52.5 points. If you bet on the over, you are betting that the total combined score of the two teams will be 53 points or higher. If you bet on the under, you are betting that the total combined score will be 52 points or lower.

The over/under number is determined by the sportsbook based on a variety of factors, including the teams playing, their recent performance, and other variables. The over/under number can vary widely depending on the sport and the specific game being played.

In some cases, you may also see over/under bets for individual teams or players within a game. For example, you might bet on whether a particular player will score over or under a certain number of points, or whether a team will score over or under a certain number of runs.

Over/under betting can be a fun and exciting way to bet on sports, as it allows you to bet on the total combined score of a game, rather than just the outcome or point spread. However, it's important to remember that over/under betting always involves a degree of risk, and it's crucial to bet responsibly and within your means.

Handicap bets, also known as point spread bets or spread bets, are a type of sports betting that works in a similar way to spread bets. However, with handicap bets, the sportsbook will assign a handicap or "spread" to the favorite team to make the betting more even.

For example, let's say the New York Giants are playing the Dallas Cowboys, and the sportsbook has set the point spread at -7 in favor of the Cowboys. This means that the Cowboys are expected to win the game by at least 7 points. However, with a handicap bet, the sportsbook might add a handicap of +7 to the Giants, which means that the Giants are given a 7-point advantage before the game starts. This means that even if the Cowboys win by less than 7 points, the Giants may still win the bet if their final score plus the handicap is greater than the Cowboys' final score.

So if you bet on the Giants with a handicap of +7, and the final score is Cowboys 20, Giants 17, you would win the bet, because the Giants' final score of 24 (17 + 7) is greater than the Cowboys' final score of 20.

Handicap bets can be popular in sports where there is a clear favorite, as they can make the betting more competitive and increase the potential for payouts.

Teasers are a type of parlay bet that allows you to adjust the point spread or total for multiple games. A parlay bet involves combining two or more individual bets into a single wager, where all the individual bets must be correct for the parlay bet to win. A teaser bet is a type of parlay where you can adjust the point spread or total for multiple games to your advantage, with the trade-off of reduced odds compared to regular parlay bets.

For example, let's say you want to place a three-team teaser bet on the following NFL games:

A regular parlay bet on these games would require you to pick the winner against the point spread for each game. However, with a teaser bet, you can adjust the point spread in your favor for each game. Let's say you want to adjust the point spread by 6 points for each game. Your teaser bet would then look like this:

In this example, the point spread for the Patriots is increased by 6 points, so they only need to win the game by 3 points or more for the teaser bet to win. The point spread for the Packers is decreased by 6 points, so they only need to win the game by 1 point or more. The point spread for the Rams is also decreased by 6 points, so they only need to win the game by 4 points or more.

The advantage of a teaser bet is that it allows you to adjust the point spread or total for multiple games in your favor, which can increase your chances of winning the bet.

Prop bets, short for "proposition bets," are a type of sports betting that involves placing a wager on a specific event or outcome within a game, rather than the overall outcome of the game itself. Prop bets can cover a wide range of events, from the outcome of the coin toss before the game to the number of yards a particular player will run for.

For example, let's say you want to place a prop bet on the Super Bowl between the Tampa Bay Buccaneers and the Kansas City Chiefs. Here are a few examples of different prop bets you might find:

If you're looking to add some excitement to your sports betting experience, parlay betting might be just the thing for you. A parlay bet involves combining multiple individual bets into a single wager. This means that the payout for a parlay bet can be much higher than that for a single bet, but the risk is also higher.

So what exactly is a parlay bet? Put simply, it's a bet that combines two or more individual wagers into a single bet. For example, you might bet on the outcome of three different NFL games, with each individual bet having odds of -110. If all three of your bets are successful, you win the parlay bet and receive a much larger payout than you would have for each individual bet.

It's worth noting that all of the individual bets in a parlay bet must be successful in order for the parlay to pay out. If even one of your bets is unsuccessful, the entire parlay bet is lost.

Parlay bets can be a fun and exciting way to increase your potential payout, but they do come with a higher level of risk. Because you're combining multiple individual bets into a single wager, the odds of success are lower than they would be for a single bet. However, if you're willing to take on the added risk, parlay bets can be a great way to add some excitement to your sports betting experience.

Let's say you're a fan of the NHL and you're interested in placing a parlay bet on three upcoming games. You think the Boston Bruins will beat the New York Rangers, the Tampa Bay Lightning will beat the Florida Panthers, and the Colorado Avalanche will beat the Vegas Golden Knights.

Individually, the odds for each of these bets might look something like this:

However, if you decide to place a parlay bet on all three of these games, the odds for the parlay bet would be much higher. Let's say the odds for the parlay bet are +450.

If you were to bet $100 on the parlay, a successful bet would result in a payout of $550 (plus your initial stake of $100). This is because the parlay combines all three individual bets into a single wager, with much higher potential payout.

It's important to remember, however, that all three of your individual bets must be successful in order to win the parlay bet. If even one of your bets is unsuccessful, the entire parlay bet is lost.

Now that we've covered some of the most important sports betting terms, you should have a solid understanding of the key concepts involved in making informed betting decisions. However, there are a few more terms that good bettors should be aware of in order to take their game to the next level.

In this section, we'll explore some additional sports betting terms that can help you become a more informed and successful bettor. By understanding these terms, you'll be able to better navigate the world of sports betting and make more informed decisions when placing wagers.

From "chalk" to "steam move" and beyond, we'll cover the concepts and terminology that you need to know in order to stay ahead of the game.

Favorite - The team or player considered most likely to win a particular sporting event.

Underdog - The team or player considered least likely to win a particular sporting event.

Vigorish - Also known as the "vig" or "juice," vigorish is the commission that a bookmaker charges on a bet.

Closing Line - The final point spread or odds for a particular sporting event immediately before the start of the event.

Push - A push occurs when the final result of a sporting event falls exactly on the point spread or over/under line, resulting in neither the bettor nor the bookmaker winning or losing.

Handicapping - Handicapping is the process of assessing the strengths and weaknesses of different teams or players in order to make more informed betting decisions.

Bankroll - A bettor's total amount of money available for placing bets.

Chalk - The term "chalk" refers to the team or player that is favored to win a particular sporting event.

Closing Line Value - The difference between the closing line and the line or odds when a bet was placed. It is used to assess the quality of a bettor's decision making.

Hedging - Hedging involves placing additional bets on a sporting event in order to minimize potential losses or guarantee a profit.

Propensity - Propensity refers to a bettor's likelihood or tendency to make certain types of bets.

Steam Move - A sudden and significant shift in the odds or point spread for a particular sporting event, often due to a large volume of bets being placed on one side.

Round Robin - A round robin bet is a type of parlay that involves placing multiple wagers on several teams or players in a particular sporting event. However, unlike a traditional parlay, a round robin bet allows you to place multiple parlays at once, reducing your risk if one of your bets is unsuccessful.