Sports Betting 101
With sports betting becoming more prevalent as states pass laws making it legal, millions of sports fans are looking to place bets on their favorite games. It is important to remember that sports betting is a form of gambling and should only be done with money you can afford to lose.
The sport betting world is full of intricacies thanks to the variety of wager types available. Each type of bet works differently and has its own specific ins and outs that are essential to understand. Some of the more common wager types include point spreads, moneylines, totals, and futures.
A moneyline is a bet that pays out based on the winner of the game, with the odds reflecting each team’s probability of winning. The odds will also indicate if the team is a favourite (plus) or underdog (minus).
Over/Under bets are a type of proposition bet that predicts the total number of points scored in a game. The odds are set by the sportsbook and indicate whether it is more likely that the combined score will be over or under a certain number.
If you have ever heard the term “the sharps are on…” it usually refers to a side of a bet that is receiving more action from high-stakes bettors or professional gamblers. This can cause the line to move in your favour as the sportsbook tries to balance their books by taking action on both sides of the bet.