Spread wager
A spread wager is when you bet against a pre set points spread set by the experts. In the above example, the Miami Dolphins are fourteen point underdogs. The spread is saying that if this game goes as it should, the Dolphins will lose by at least fourteen points. Conversely it is also saying that the New York Jets should win by at least fourteen points. Spread wagers are even money propositions minus a small commission charged by the sports book. In this example, you will need to wager $110 to win $100. This can be seen by the “-110” in the spread column of the example.
So with a spread wager you are betting on one of two things:
- That a team will win by an amount greater than what is predicted
- That a team will lose by an amount less than what is predicted
Spread betting is a fine art simply because the experts in Las Vegas who make most of the betting lines know their stuff! They are trying to set the numbers as close as possible to what will actually happen so that they minimize their losses. It is important to study the spread and the teams to see when the experts have made a mistake and a profitable bet is available!
Money Line Wager
The money line is another popular and fun way to bet on sports. It is a straight proposition that doesn't involve a spread. You simple bet on which team you think will win. There is however varying odds and payouts depending on what team you pick to win! Lets again look at the example involving the Dolphins and the Jets. Notice that the money line bet for the Dolphins is “+400”, what this means is that for every $100 you wager, you will win $400 in the event that the Dolphins win. Now take a look at the Jets money line, it says “-270”, this means that for every $270 you wager, you will win $100 if the Jets win. So you see, you can wager a little and win big on the underdog, or wager a lot and win a little on the favorite.
Money line bets need to be studied just like the spread bets do, some are excellent deals while other should be avoided. Betting on the favorites seems like a surefire way to win money, but most of the time it's a pretty bad deal. The sports book is asking for a lot of money for a pretty small return. Look for the close calls that represent a good value and share an equal amount of risk and reward.
Over under Wager
The over under wager is probably the simplest to understand, but you should note that this wager is not always available. With an over under wager you are simply betting that the final score of the game will be over a certain amount or under a certain amount. Now, don't forget, Las Vegas experts have studied the teams carefully and have picked an over under number that is incredibly close. Remember they are trying to entice the most bettors and minimize their losses. Betting on an over under and then watching the game is probably one of the most entertaining ways to enjoy sports betting.
Other Wagers
Money lines, spread bets and over/unders are not the only kind of wagers available to you as a sports bettor. There are also several other more complex wagers that can be profitable. These wagers do need to be approached with caution however; they usually are longs shots and can cost you a lot of money if you are not careful.
Parlay
A parlay is a multi-game wager that can pay out big if things go right. In a parlay you are wagering on the results of several games. Generally you can bet on anywhere from two to fifteen teams, but this is all dependent on the
sportsbook as well and what they offer. Basically the sports book offers you better odds if you can string together a series of wins. For example, you might bet on the Miami Dolphins to cover the spread and on the Oakland raiders cover as well. Unfortunately you have to win both bets in order to receive the higher parlay payout. Parlays can be very frustrating in that if you are wagering on a six team parlay and you win five of the bets but lose one, you don't win anything. On the contrary if you were to bet those six games individually, you would have won a lot of money!
Parlays can be a good idea sometimes, but it's all about finding the right plays. Here are a few tips on parlays:
- Look for games that are connected, for example, if team A wins, then team B wont be motivated to play because their playoff hopes are dashed
- Take advantage of sports book specials that offer lower fees or better odds on parlays
Once again though, we urge caution as parlays for the most part are usually pretty poor bets!
If bets
If bets are when you bet a set amount on multiple games, but the wager only continues if your first bet wins or ties. If your first game wins or ties, the wager on the second game is placed. If you lose however, you simply lose the amount wagered on the first game and no additional money is wagered. There are a few different types of IF bets, each one having slightly different conditions on the result of the first game that grant action on the second. Consult with your sports book for their IF bet variations.
Teaser bets
Teaser bets are parlay bets with reduced risk. What happens is that you are getting more points for the various points spreads in the games you are betting on, but getting less of a payout. Teasers are generally anywhere from two to eight points, so you get to add two to eight points to the spread for each game. Let's take an example where we are betting a two game six point teaser. The Atlanta Falcons are underdogs at +7 against the Dallas Cowboys, and the Tampa Bay Bucs are -14 favorites against the Jacksonville Jaguars. Because you have picked these two games in a six point teaser, the Falcons become underdogs at +13 (allowing them more points to lose by) and the Jaguars become -7 favorites, reducing the amount of points they need to win by in order for you to win your wager.
A teaser is just like a parlay in that you must win all of the bets in order to win the wager. Even with the points cushion, teaser bets are still pretty poor bets. They are fun though and there are times when they could be appropriate plays.
There are many fun and exciting ways to bet on sports, but ultimately it comes down to picking the smart bets that give you the best chance of winning. Straight wagers like the money line and spread are usually give you the best odds and the lowest fees, so they should be a staple in your arsenal. Parlay wagers are somewhat risky and usually not a good choice, but in the right situation, they could be profitable. Pick your best wisely, study the teams, and you will be off on the right foot for betting on sports. |
