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If you wish to wager on the total, you would pick the rotation number of either team and inform the sportsbook writer that your intention is to bet the Over or Under only on the posted total. If you have dabbled at all in the sports wagering industry, you've likely heard the terms juice, or vigorish, thrown around quite a bit. If you've heard the terms but don't know what they mean, fret not. They might sound complicated on the surface, but they are relatively simple to explain.
In short, the vigorish is essentially a tax the sportsbooks charge per wager. Their role is the primary factor in turning a profit for bookmakers, and also a crucial factor for bettors to learn and respect. The standard vigorish is 10 percent on each wager. The manner in which this benefits the sportsbook is easy to explain. Most experienced customers have factored the vigorish into their wagers, and plan their bankrolls accordingly in the interest of simple math and convenience.
In addition to wagering on either the point spread or total, sportsbook patrons almost always have the additional option of placing what is called a money-line wager. A money-line wager simply removes the point spread from the equation, and notes that you are wagering on a specific team to win the game.
The money-line price on each team is usually noted on the wagering menu to the far right of each team listed. A typical example would look like the following:. In this example, the Giants are not only three-point favorites against the spread, they are favorites to win straight up on the money line. To place this bet, you would tell the ticket writer you wish to place a wager on rotation number and state the desired amount.
Conversely, money-line wagers on the underdog are popular because sportsbook customers can get a return that exceeds in the original wager. If you wish to place this wager, you would be passing up the option of taking the points and winning the bet if the Cowboys lose by fewer than three.
They must win in order for your bet to cash, but the incentive is the handsome payout. Parlays are popular wagers among bettors because of the appeal of potentially winning a good sum of money with a minimal investment. It's a widespread belief that parlays are mostly done by novice bettors, but experienced handicappers are known to play them as well. Parlays involve the selection of two or more propositions on a single wager, and all of the teams must win for the bet to become a winner.
For instance, if you pick five teams on a parlay and four cover the spread, the bet is a loser. Sportsbooks welcome parlays because of their significant house edge. For instance, the true odds on a two-team parlay are 4-to-1, but most betting outlets pay 2. The true odds on a three-led parlay are 9-to-1, though the standard payout is 6-to Even so, the potential for winning more than the initial investment have proven to be an irresistible lure for most sports bettors, regardless of experience level.
Teasers are a popular variation of standard point-spread betting, as they give the customer an advantage by increasing the point value for their selected team. For example, the six-point teaser is an extremely popular bet in professional football, where a high percentage of spread outcomes fall very close to the sportsbook's numbers. To combat this uncertainty, teasers provide a discount on the spread.
Let's say you believe two seven-point favorites will win the game outright but you are unsure whether they can cover the sizable touchdown spread. Well, this betting odds guide will help you learn the exact definitions you need. Betting odds are numeric representations of the likelihood of a certain outcome.
Plus, they represent the return, or profit, that the bettor will receive with a winning bet. This outcome probability can also be called implied probability. Being able to understand the implied probability is very important when sports betting. It allows you to place your wagers only in situations where you have determined the likelihood of an outcome happening is greater than the determined implied probability.
So, now you might be even more confused. If you have looked at retail sportsbooks and online sportsbooks, you may have seen a whole slew of odds. And, not all of the odds may have looked the same. In order to fully understand how to read odds, you will need to understand all three types of odds. You may not know the types of odds that will be chosen for different sports and different sports events.
So, understanding the three main types is crucial. American Odds are also known as Moneyline Odds. They are shown as either positive odds or negative odds. Plus, the Los Angeles Lakers have odds. Plus, most sportsbooks will have American Odds listed. But, you will want to understand the other odds that you may find on sportsbooks both retail and online. So, now that you understand the different types of odds, you will need to learn more before placing your bets.
Understanding how to calculate implied probability is especially important. This way, you will know the likelihood of certain outcomes in sports betting. When you want to calculate the implied probability using positive American Odds, it should be pretty easy. So, with the odds from the American Odds example above, here is an illustration of how that would work. This means that the implied probability that the Boston Celtics will win the game is 0.
Accordingly, bookmakers believe the Boston Celtics have a Now, the steps are different to calculate the implied probability for negative American odds. But, they are still fairly simple. So this means that the implied probability is 0. This means that the Los Angeles Lakers have a If you want, you can place your wager on the underdog, or the team most likely to lose.
This is known as betting against the odds. This is the original amount that you wagered, plus profit. And, it is quite a profit. As you can see, betting against the odds can earn you quite a profit. However, the odds of this type of bet paying off are much lower than if you bet on the team favored to win. So, you should only bet against the odds when you are fairly certain you will win. Fractional Odds tend to be found more often in Europe than in the United States.
Typically, they are popularly used in United Kingdom horse race betting. Fractional odds show that you will receive your profits in proportion to your stake. Here, we will use the same sports game example from above to illustrate Fractional Odds.
This means that for every three dollars you wager, you will get a profit of four dollars. So, it is lucky that they are not used as often as the other odds in the United States. However, it is still important to understand them. Finally, we have reached our third type of odds that we will be exploring. Decimal Odds are a type of odds that are very popular. You can find Decimal Odds used in countries around the globe. Many sportsbooks that you will find online will use Decimal Odds.
Now, this sounds more complicated than it actually is. So, we will use the same sporting event example from above to illustrate decimal odds. So, say the Boston Celtics have 3. So, as illustrated above, decimal odds are pretty easy to understand. And, they are easy to calculate. That makes decimal odds a pretty easy yet important odds type to understand.
In order to place bets that will be profitable, you should only put down your money when there is value. So, we can illustrate this using our example from above. That means we should only place a wager if we can tell a team has better odds to win than are shown by the odds.
So, if you think the Lakers have a better chance to win than Or, if you think the Celtics have a better chance to win than
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