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п»їSports betting line explained spreads explained.
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Spread Betting Explained by Jason Shimberg - 01/15/2008.
Doc's Sports offers spread betting explained in a way that is easy for even novice bettors to understand. The definition of point spread is the predicted scoring differential between two opponents as quoted by a sports book. The point spread is also called the line. If you have have bet a sporting event in the past, but have never bet on the point spread this will ease the process and explain how it works.
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How the point spread works - When two teams meet on the playing field or on the basketball court, one team is typically better than the other or in a more favorable position because of factors like playing at home. If all you had to do were pick the winning team in a game, everybody would simply wager on the best team or the home team in a even matchup and bypass all the lines and collect their winnings at a high rate.
Betting against the spread - In the sports betting industry the acronym ATS is used to label a team's record when betting against the spread. ATS records are a valuable tool in sports handicapping. A team may be playing great straight-up, winning a lot of games but at the same time they could have a dreadful ATS record because they are overvalued by the general public and the oddsmakers. And, conversely, a team could be losing a lot of games but playing in a lot of close games as underdogs and have a good ATS record going.
Bookmaker's interest - In order to guarantee a profit for the house, a bookie needs to create even action on both sides of a particular game. In a perfect world the bookie would have 50 percent of the handle come in on the underdog and 50 percent on the favorite. This ensures that the sports books are guaranteed a profit because of the 10 percent commission or "vigorish" charged on most sports wagers. This is why there is "movement" on the point spread. If one side on a game is being bet more heavily, the bookie must move the number in order to attract interest on the other side in order to balance action.
Spread betting is not convoluted - Many people decide that it's too arduous without ever giving it a try. In fact, once the simple concept has been grasped it becomes exceedingly painless to comprehend. Settle on if you think the oddsmakers' prediction is too low or too high. It's that straightforward. Learn the basics, so you and your wallet are not spread too thin.
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What do sports betting lines mean?
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If that sounds like you, we’re here to assist you. If you’ve stared at a board at a sportsbook or just seen spreads and moneylines on the Internet and been utterly confused, don’t worry. It’s not just you. Those numbers can be confounding.
But hopefully, once you’re done reading this, you’ll completely understand how they work. As you prepare to dive into the world of sports betting, here’s a breakdown of how the lines work, starting with …
Spreads.
It would be really easy to bet on a game if you could put money on a heavy favorite to win.
That’s where point spreads come in. Let’s look at an example:
In this case, you can bet on either two outcomes: you can put money on the Eagles to win the game by 4.5 points OR MORE, which makes them the favorites. Or you can bet that the Giants will either win or lose by LESS THAN 4.5 points. They’re the underdogs.
Now, sometimes the spread “moves” during the days leading up to the game. Perhaps the Eagles’ spread ends up being -3.5 (in which they must win by 3.5 points or more to give you a victory in your bet). Your bet all depends on whichever spread you bet on, whether it was when the Eagles were favored by 4.5 or 3.5 points.
If you ever see “PK” or “pick” next to a team, it means there’s no spread and you can bet on who will win, no matter what the score is.
Moneylines.
Let’s take that same example above but use moneylines:
The team with a minus symbol is the favorite, and the number is how much money you would need to bet to win $100. In this case, you would have to bet $200 on the Eagles in order to win an additional $100.
Note that you can bet any amount you want, but those numbers are always calculated and posted the same way, either in how much money you would need to wager to win $100 or how much money you could win by wagering $100.
If you’re betting on something like the team who will win the Super Bowl in the future, you might see it look like this:
New England Patriots — 3/1 Baltimore Ravens — 5/1 Kansas City Chiefs — 8/1.
If you were betting on the Patriots and their 3/1 odds, you would win $3 for every $1 you spend. So if you bet $50 on the Pats and they ended up winning the Super Bowl, you’d win $150 (plus your original wager) back.
Sports Betting Explained: An Introduction To The Basics And How To Wager.
Sports betting is a rapidly growing industry in the United States, particularly after a 2018 ruling by the Supreme Court that opened the door to legalized operations on a state-by-state basis. While not every state in the country has legalized sports betting just yet, the map is expanding and, with sports leagues and other outlets attempting to jump on board the money train, interest is higher than ever.
As such, many are new to the space and, in the first of several explainers, we will tackle the real basics. For experienced sports bettors, this will be far too elementary but, given the expansion of sports betting terminology used on more mainstream sports broadcasts and within games, even the non-bettors could find it useful to understand the flow of information.
Later, we’ll dive into more nuanced approaches. Today, though, we stick to the nuts and bolts of how to get around and understand what you’re looking at on an odds board.
Point Spreads.
In simple terms, the point spread is a wager on what the margin of victory will be in a particular game. It is, by a wide margin, the most oft-discussed wagering option, both in mainstream and more advanced circles. A point spread can also serve as a de facto “projection” of the difference between two teams.
As a very prominent example, let’s look back to Super Bowl LIV on Feb. 2, 2020, with the Kansas City Chiefs taking on the San Francisco 49ers in the largest sporting event in the country. When the game began, the Chiefs were listed at -1.5, meaning that Kansas City was the favorite, with 1.5 points as the point spread itself.
In practical terms, if a bettor wagered on the Chiefs to “cover” (meaning they would win the bet), Kansas City would need to win the game by more than 1.5 points. If the Chiefs won by one point, or lost the game entirely, the bet would lose.
Over/Unders.
As noted previously, point spreads are the most common way to wager on a few high-profile sports like basketball and football. Another prominent option, however, is the ability to wager on how many total points will be scored.
These “total” bets are sometimes referred to as Over/Unders, because one side of the bet is an “over” and the other is an “under.” Using the same example from Super Bowl LIV back in Feb. 2020, the over/under total was set at 53.
As such, a bettor could wager on the “over” at 53 and, if the two teams combined to score 54 points or more, that wager would win. If they scored 52 points or fewer, the wager would lose.
On the other side, a bettor could wager on the “under” at 53 and the opposite would be true. The bettor would be hoping for 52 points or fewer, and any total more than 53 points would be a losing wager.
While the point spread in the above example was not a round number (1.5), the over/under in this case is exactly 53, rather than 52.5 or 53.5, for example. Because of that, a “push” is possible. Essentially, a push occurs when a wager ties. In this case, a combined score of 53 points would trigger a refund for any bet placed on either the over or the under, and no bet would win.
Money Lines.
If you don’t want to be tasked with doing math during game action, money lines are a bit more conventional. In fact, a money line wager is based entirely on which team wins, and the margin (or even the frequency of scoring) does not matter. These wagers are offered across the sporting landscape, but they are particularly prominent in sports like baseball, soccer, and hockey, when the margin of victory is often small given the limited number of points/goals scored by both sides.
To better understand money lines, however, it is important to know what the listed odds actually mean.
American Odds.
American odds are prominent in, you guessed it, the United States. They are not as prominent, or regularly accessible, in other corners of the world but, given our audience and the reality that American odds are what you will see in any local sportsbook, an explainer is needed.
Importantly, the odds are listed in association with every single bet we’ve discussed in this space, including point spreads, over/unders, and money lines. The short version is that American odds are focused on a $100 unit of measurement, and that is how they are displayed.
The money line referenced Kansas City at -125. In plain terms, that means that a bet on Kansas City would yield $100 for every $125 wagered. So, if a bettor placed a $125 bet and the Chiefs won, the bettor would receive their $125 back and an additional $100, for a profit of $100.
To be clear, not everyone is wagering is increments of $100, but the percentages stay the same. For every $1.25 wagered on the Chiefs, the bettor would win $1 on a victory, and for every $1 wagered on the 49ers, the bettor would win $1.05 on a victory.
The Vig.
In our final section of this introductory explainer, we get to the less “fun” part of sports betting, at least for the individuals placing the bets and rooting against the casino or bookmaker. The vig, or vigorish, is sometimes referred to as the juice, and it basically refers to the cost of placing a bet, all while explaining how bookmakers keep the lights on.
We’ll harken back to the Super Bowl LIV example, and move back to the point spreads this time. As noted above, the Chiefs were -1.5 in that particular game but, while that was the point spread, a bettor wasn’t placing a $100 wager on Kansas City with the potential to receive $100 back. The standard, or most common, vig/juice/vigorish in the United States is -110.
While that $10, or less if the wager was for a smaller amount, may not seem like much, the bookmaker is, for all intents and purposes, charging a tax. Bettors must win well over 50 percent of their bets to “break even” using the -110 vig and, as such, it is very difficult to win over the course of a large sample. Most are betting for entertainment but, at the very least, it is good to know what you’re getting into and, like any casino activity involving gamblings, the house makes sure to have the mathematical edge over the vast majority of individuals.
The finer points of sports betting can’t be learned overnight and there is plenty more to dissect. However, learning the basics is absolutely critical and, if one can sift through the math of these three “standard” wagering opportunities, the rest becomes much easier to unpack.
Sports Betting 101: NFL Lines, Odds, Point Spreads and More.
For football betting newcomers, NFL odds, lines and point spreads might appear a bit intimidating at first. Not like looking at a horse racing program for the first time, but NFL betting odds and NFL lines don’t explain themselves.
With that in mind, we’ve put together an explainer for football betting, NFL odds and lines, and much more. Many of these terms or phrases apply to other sports, such as basketball, but they’re defined with an eye toward the pigskin.
NFL Lines, Odds, Point Spreads and More Betting Terms, Explained.
Sports Book: Often referred to as the “book”, it is typically an organization/casino that accepts and pays out in sports wagers.
Linesmaker/Oddsmaker : The person or group of people in the Sports Book that set the lines (spread, total, moneyline, futures) for a specific game or sport. The goal for a linesmaker/oddsmaker is to set a game line where they receive approximately even money on both sides so that they guarantee themselves a win on that game due to the vig(orish).
Opening Line : The initial price set on a game. For example, the Cowboys opened up as 4 ВЅ point favorites over the Eagles on Sunday night in Week 2 following the week one games. The line may then move up or down based on the action from the betting public.
Favorite : This refers to the team that is expected/projected to win the game outright. For example, the Patriots were a three-point favorite (-3) in Super Bowl 51. That means if you are wagering on the Patriots to cover, you start out the game losing 3-0. Wagering on the favorite is often referred to as “taking chalk”.
Taking or laying the points : This refers to a bettor’s position on the spread. If an underdog is getting 3.5 points, you’re “taking the points” if you bet that side. If you’re “laying” 3.5 points on the favorite (think of it as giving away), you believe (or you’re hoping) that your team will win by 4 points or more.
Vigorish or Juice : The vigorish (or just “vig”) or “juice” is the margin that the bookmaker (or the “house”) keeps, and it’s why the house usually wins. Generally, the sports books attempt to set lines in order to takes equal action (bets) on both sides, so the the house takes the vig regardless of which side wins. Using the scenario where both sides are -110, let’s say the winning bettor put down $100. He’ll win about $91 on that bet, and the losing side will have lost $100. The difference is the “vig,” which the house keeps because they’re taking the bets and taking on the risk and allowing you to choose the side of your liking. And that’s how massive hotels get built in the desert.
Cover : When a “favorite” covers the spread, they’ve won by more points than they were favored by. Using the Patriots-Browns example above, if the Patriots win by 17, they have covered the 14 point spread. If they win by only 10, they have not covered the spread. When an “underdog” covers the spread, they’ve lost by fewer points than they were “given,” or won the game outright. If the Browns lose to the Patriots by 7, they have covered the spread because they lost by fewer than 14.
Cover City : A mythical and euphoric locale reserved for sports bettors celebrating covers.
Push : Had the Patriots-Browns game been decided by exactly 14 points, a “push” would have occurred. A push means that bets on both sides get cancelled and the book returns the wager. Neither side wins or loses.
Backdoor cover : A backdoor cover occurs when one team appears poised to cover the spread until the fourth quarter, when the other team scores late in the game — often having little effect on the outcome — but covers the spread in doing so. For example, let’s say the Michigan Wolverines, favored by 7.5, are pounding the Iowa Hawkeyes by two touchdowns most of the way and lead 34-20. The Wolverines go into a prevent defense after the two-minute warning and the Iowa QB throws a touchdown in the final seconds, drawing the game to a 34-27 finish. The TD has no effect on the outcome of the game, but it’s a backdoor cover for Iowa and Michigan backers get stung by the hook.
Total : This refers to a different type of bet (also called the “over/under”) in which you can wager on the total number of combined points scored by both teams. The typical wager is on whether the teams’ combined points will be over or under a certain number, such as 48. Bettors usually wager on the total points for the entire game, but can also wager on individual quarters, periods, or halves. The sports book determines in advance what the “total” is, and the bettor then chooses whether the result will be over or under this number. In NFL games, the total typically ranges from 40 to 60 points.
If a game total is set at 47, and if you think it will be a defensive struggle, you’ll bet the “under” and root for the teams to score fewer than 47 combined points (think lots of punting and stalled drives). If you think the game will be a shootout, you’ll bet the “over” and root for more than 47 points to be scored. Overtime points count towards the total. Note that some bettors like to play the total for just one of the teams, for only the first half, or even certain quarters. Most books will put out lines for all of these separate totals.
Proposition bets : Also known as “prop bets,” these are wagers on more discrete items, typically a certain player’s statistics or whether or not (or when) a certain event will occur. An example: A bettor might bet the over on Antonio Brown’s total catches against the Bengals, with the line set a 7.5. So the bettor will need Brown to catch eight passes or more to win. Another example: How many interceptions will Kirk Cousins throw against the Cowboys? The total might be set at 1.5. If you bet the under and Cousins throws only one, you’re a winner. And of course you’ll see more outlandish prop bets come the Super Bowl when books will offer the opportunity to bet on the length of the National Anthem singer’s performance and the color of the Gatorade spilled on the winning coach.
Off the board : When a book has never posted a line or has taken a bet down and is no longer accepting action or wagers on the game. For example, if the status of Aaron Rodgers is unknown, the game may not have a line until more information comes out. Also, if Aaron Rodgers gets injured mid-week in practice, a game that initially had a line may be taken off the board till an update on Rodgers’ status in available.
Handle and hold : The handle refers to the amount of money or wagers a book has received on a certain game or event. The hold is how much the book ultimately keeps after paying out the winners based on a game’s outcome. Remember, the house typically wins, just not every time!
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