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Basics of sports betting
Sports bets are most commonly placed on the
outcome of a single event or game. In virtually all contests, there is a
favorite and an underdog.
In order to make wagering more even, the
oddsmaker draws up an odds line, or the odds, such that you can bet on the
probability of a competitor's win.
For example, former world heavyweight
champion Mike Tyson steps into the boxing ring to square off against
"Rocky" star Sylvester Stallone. In this case, Tyson is obviously the
favorite and Stallone the underdog.
The oddsmaker would then post the odds
that probably would look something like this:
Tyson = 1 to 9 (noted as 1/9)
Stallone = 7 to 1 (noted as 7/1)
To win $1 on Tyson, you must wager $9. If
he wins, you get $10 back, the $9 you bet plus the $1 you won.
On the other hand, to win $7 on Stallone,
you need only wager $1. If Stallone wins, you get $8 back, the $1 you bet
plus the $7 you won.
Moneyline
If a moneyline is posted, the lines may
appear as follows:
Tyson -120
Stallone +240
By clicking on either -120 or +240, you
are betting on who you think will win the match. To win $1 on Tyson, you
must wager $1.20. If he wins, you get $2.20 back, the $1.20 you bet plus
the $1 you won. If you bet $1 on Stallone and he wins, you get $3.40 back,
the $1 you bet plus the $2.40 you won.
Point spread
If you want to bet on a point spread when
teams are involved, you may have the choice of the following:
New York -3
Philadelphia +3
If you click on -3 for New York, they
must win by more than 3 points for you to win your bet. If you click on +3
Philadelphia, they may lose by 2 points or win outright for you to win
your bet. If the +/- 3 adjustment results in a tie, the wager is push and
you will get your money back. Games featuring 1/2 points will never push
and will always end as a win or loss.
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