How Does Sports Betting Work – It Is Not That Complicated
Sports betting refers to the process of wagering on various sporting event outcomes. It is a form of gambling and a way for fans to WIN money. In today’s day and age, you can easily find a variety of websites, apps, brick and mortar locations that will allow you to wager on domestic and worldwide sports. Because sports betting can be complicated, let’s take a look at simple betting terms that will simplify your experience.
Betting On The Point Spread
The point spread bet is the most popular form of betting. More bets are placed using a point spread than any other form of wagering. The point spread is a neutralizer for bookies and sportsbooks. All teams are not created equal. The institution or individual accepting a wager will assign a “Point Spread”. Regardless of your betting position, each side of a bet has an equal chance of winning. The favored team will be designated a negative number while the underdog will be assigned a positive number.
The favored team wins if they win a sporting event by a margin that is greater than the defined point spread. For example, let’s assume the Boston Celtics are Playing the Miami Heat. The Miami Heat are -5 points. This means the Heat will need to beat the Celtics by more than 5 points if you are to WIN a point spread bet on the Heat. From a Boston Celtics perspective, you would WIN a Celtics bet if they win the game outright or if they lose by a margin less than 5.
Money Line Sports Betting
The other common type of bet is the money line bet. This bet may seem complicated, but it is very simple and easy to understand. When considering money line odds, you just need to understand that odds are calculated around a $100 bet. In looking back at our NBA example assume the line is Boston Celtics +135 Miami Heat -120. What this means is that if you wagered $100 on the Celtics money line you would WIN $135. Of course, the Celtics would need to defeat the Heat. When looking at the Heat, you would need to wager $120 in order to WIN $100. In line with the previous statement, the Heat would need to WIN the basketball game.
When looking to place a money line wager on the FAVORITE. Understand that the (+) is the amount you need to wager in order to WIN $100. Should you wager on the UNDERDOG, the (-) represents the amount you would get back on correct $100 money line bet.
Use StatementGames To Practice Sports Betting
StatementGames is a FREE to play sports gaming platform with a different twist on Fantasy Sports. Practice your sports betting skills by making point spread predictions.
“I was never a big sports gambler but now that I have been playing StatementGames – I look forward to giving it a try!” – Community Member Huyen Pham