Sports betting has emerged as one of the best paying options from the shadows and it is now included in the mainstream. Now, it is welcomed with open arms in the non-gambling communities. Sports betting is even allowed in Japan, a country in which gambling is prohibited. Anyone shall not lag with the emerging trends. This guide will help you in making your online sports betting experience better.
Favourites vs. Underdogs
The oddsmakers or bookmakers first identify a team that is likely to win or lose. The team that oddsmaker identifies as a winning team is called the favourite and the losing team is called the underdog.
The favourite team is identified with a minus sign against its name and underdogs gets a plus sign against their odds. Books of a game-opening with a toss is known as a “pick” or “pick’em.”
You can place your bets on the favourite or underdog in two ways. A point spread is a wager in which a bet is placed on the margin of a victory. For instance, if Arsenal is 2 points favourite against Barcelona, they would be listed as Arsenal -2.
Now, Arsenal needs to win by 3 goals to make the wagers of people placing a wager on Arsenal their favourite. If it happens, the wagers get a ‘cover’. If Arsenal wins the game by 2-0, it is known as a push. In this, wagerers get the money they wagered back as it is without any additional winning.
If Arsenal wins by 1-0 or loses the game, the people placing wagers on the favourite lose. If the bet is placed on underdogs by + the points or +3, you need the underdog to either win the game by 2 goals or fewer to cover the bet for underdogs.
The other way to place a bet on the underdog is to place a bet on the money line made by the bookmaker. It is a win or loses situation where the event on which the bet is placed depends on either team winning or losing. If -200 is written for favourite and they win, you get an additional $100, else you lose $200 wager placed.
The underdogs’ odds are written as +200. If you bet $100 on an underdog and they win. You get a total payout of $300. If they lose you only lose the $100 that was placed. Underdogs are expected to lose. Therefore, the payout is more when they win.
Placing bets on Total Goals or Over/Unders
The oddsmaker will also make an odd of total goals that he expects to be scored in the game collectively by both teams. This is known as a total goal or over/under.
Wagers can place their bets on whether both teams will score over the designated goal or under it. Some of them place bets on specific numbers of goals individually or collectively score by the teams.
For instance, the Celtics and Bulls might score 215 scores collectively in an NBA game. Wagers can place bets on over 215 or under 215. If you be over 215, the total points to be scored should be 216 or higher for this bet to win. If the total score is 214, you lose.
What Is the Meaning of -110 Number written against a bet?
The house always wins in casinos as whoever wins the casino charges a small amount from the winning bowl. Here, the bookmaker also imposes a tax to accept the bet whether you win or lose. It is also known as Juice or Vig, a short form for Vigoursh.
For instance, Barcelona is placed t -5 (-110). It means if you want to place a bet on the favourite Barcelona as a five-point favourite, you need to give $110 to win $100.
The juice can also be a positive number when a wager is placed on an underdog such as Arsenal +6 (+110). It means that if you place your bet on Arsenal, you are risking $100 on Arsenal as an underdog.
How to Place a Bet?
It is important to check whether sports betting is legal in the state in which you reside before placing any wagers. If it is legal, check the authenticity of the online sportsbook on which you wish to place your wagers.
In the USA, the following states have made sports betting legal: –
- New Jersey
- West Virginia
How Much to Bet?
People who win on sports betting are skilful and they place their wagers carefully. It is the cardinal rule of betting, the more you risk, the more you win. But the probability of winning is similar to losing. Therefore, wagerers must place the balanced bets and according to the bankroll. Always place the bet that you can afford to lose.
You may risk the same amount of different games and risk only 1 to 5% of the bankroll that you have kept aside for betting. For instance, if you have a bankroll of $1000. You should only place bets of not more than $5 on one game.
Seasoned bettors do not lose their entire bankroll if they are going from a rough patch in their betting business. They employ a flat betting approach that makes sure to balance their loss against the agers bet. It enables them to be prepared to enjoy a positive ROI when they are enjoying a winning streak.
Rotation numbers are those numbers that are placed on the left side of the name of the teams on the bookmaker’s board. They are also known as NSS numbers of the Vegas ID number. These are changed according to the team, sport, league, etc but most of the time is the same across the sportsbook for streamlining the bets.
For instance, you might see the number 312 against the Bruins. If you want to place a wager on the Bruins, you can walk up to the window of a bookmaker and say that you want to place $100 on 312. You can maximise your winning by following these steps and tricks for the next sports betting season.