What Does “plus” And “minus” Mean In Sports Betting?
You can easily substitute the $100 bet for a $10 bet by moving the decimal place over one spot, showing us that you would need to wager $14 in order to win $10 in profits. Finally, spread betting keeps many otherwise uninteresting games worth watching. Sure, maybe the Chiefs are up 20 points on the Jets in the fourth quarter, but outcome of the game with the handicap included may remain up in the air. Furthermore, high-limit bettors can usually get a lot of money down on point spreads. If you’re someone with deep pockets who likes to bet big, spread betting is for you since the limits will usually be large relative to other markets. For one, the vig on spread betting will generally be among the lowest of any markets offered.
Typically, sports bettors pay 10% to the bookmaker, the equivalent of a brokerage fee. In our example, the figure is -120, and it indicates that you must risk $120 to win $100. Since the point spread is 3.5 points, a bet on the Buccaneers would be placed if you believe they can win by at least 4 points or more. In the above example, if Tampa Bay wins the game by margin of 20-14, then the Tampa Bay Buccaneers win the match and they cover the spread . If one team is expected to win, the odds need to reflect enough enticement for people to place bets on that team. Conversely, if one team is the underdog the odds need to be attractive enough to generate bets to counter all the bets on the favorite.
Using the +120 odds, it shows us that a $100 bet on that outcome would pay out $120 in profits. Again this can easily be converted into smaller or larger size bets. Welcome to the Sports Betting Odds section of The Sports Geek.
This means that sportsbooks believe that the Chicago Bulls have a higher probability of winning the game over the Miami Heat. Setting the line at just 1.5 does mean that these two teams are extremely close. Betting odds and lines from a sportsbook can be confusing at first, but they aren’t that hard to understand. In order to help you understand betting odds, we will use +1.5 as an example. If you bet 1 on a game with 10 to 1 odds and you win, your total payout will be 11.00 which is your bet plus 10.00 profit.
Of course, the one downside is having to risk more money to return the same amount that a point spread bet would net you. The purpose of basketball point spread betting is to determine by how much a basketball team will win a game or lose a game. Almost all sports offer spread betting, but they behave differently depending on the sport. The most common sports that offer spread bets are basketball and football, but baseball, hockey, and soccer offer spread bet variations. The plus (+) and minus (-) in sports betting can refer to either the point spread or betting odds.
Parlays involve wagering on two or more games on the same bet following the casino’s pre-determined payout scale. Read sporting odds as the likelihood that one team, athlete, or horse, will win. The most common use of odds is found when placing a bet on a sporting event. If you bet on sporting events, you must be able to read odds and understand what they mean. Furthermore, you need to quickly calculate the potential winnings for different bets, especially if the odds are changing while the event unfolds.
They are also similar to ‘Runline’ bets in baseball which we are going to address shortly. Sometimes, the vigorish can be reduced to a lower figure like -105, meaning that you need to risk a little less win that same $100. In the above example, you will see the Tampa Bay Buccaneers and the New Orleans Saints both have -120 next to them.
Ever want to bet on an event and find yourself questioning what it means to bet the point spread? Hence the (-) point spread that is posted alongside the team. The weaker teams naturally aren’t expected to win against the stronger teams; that’s why they are gifted an advantage in the form of the (+) point spread. Oddsmakers or handicappers determine the NFL point spreads assigned to each team in a matchup.
The sixteenth-century polymath Cardano demonstrated the efficacy of defining odds as the ratio of favourable to unfavourable outcomes. Implied by this definition is the fact that the probability of an event is given by the ratio of favourable outcomes to the total number of possible outcomes. Then, to calculate the profit of your wager, simply multiply your stake by the odds and subtract your stake. Basically, 1.75 means that for every $1 you bet, you will earn a total return of $1.75, with your stake returned along with a profit of $0.75. Overall, -150 means that you must bet $150 in order to win $100.
You can also apply this knowledge to other odds as well, such as the money line. This kind of bet is different because you are betting who will win the game straight-up, which causes the odds to be different for each game (instead of -110 for everything). Last week, we went over how to read sports betting oddsand covered the most common items you’ll see on a betting board inside a sportsbook . When betting these choices, you will almost always see -110 listed with them. If you don’t know what that means, don’t worry – we’re covering that today and it’s not nearly as complicated as it looks.