Sports Betting Explained

Placing a bet can be confusing. Knowing how to place the bet, what the different types of bets are, and how much to wager can be overwhelming. If you want to know how sports betting works then you need to take the time to do a little bit of research before jumping into it. After all, that will make you a more informed bettor!

Knowing how sports betting works starts with understanding the fact that sports betting is illegal in most of the United States. In fact, it is only really legal in Nevada, although a lot of people bet online as this is still a gray area when it comes to the law.

The different betting systems can vary and sports books have their own language. If you want to learn how sports betting works, you need to learn who sets the line, how often you need to win to break even, and how the odds are determined. 

The oddsmaking and betting systems are dependent upon the sports. There are also varying systems for the same sport. Understanding some of the language is a good place to start when it comes to learning how sports betting works.

The sportsbook is the place that takes the bets. It is also referred to simply as the “book.” a person who takes a bet is either a “bookmaker” or a “bookie.”

The “handle” is the amount of money that is wagered on the bets. For most bookmakers, the Super Bowl has the biggest handle of any sporting event.

The “handicap” is also something that you will be hearing a lot of. When it comes to betting on sports, the handicap is points given to a team in order to level the playing field. Otherwise, everyone would simply vote on the team that is more likely to win, which might be very obvious.

The “juice” is the money that the bookmaker takes in as a profit. You might also hear it referred to as the vigorish. Some websites will offer a low vigorish as an incentive.

The “money line” is used in sports that do not ordinarily have high scores, like baseball or soccer. It usually costs more to bet on the favored team than on the underdog. Money lines might be listed as “picks.” In this case, the teams are considered to be equal.

In a “parlay”, a bettor makes a combination bet. Rather than making 5 different bets on 5 games, the bettor will simply make a single parlay bet. However, the whole parlay is a loser if even one game is lost. Typically, however, the payoff is higher for these bets.

Lastly, the “spread” is used in sports where you can expect high scores, such as basketball and football. The point spread gives a team a few points’ advantage. You can usually find the favorite team shown first with a negative number, and then and underdog team shown with a positive number.

In learning how sports betting works, you should also know that while a bookmaker is pretty much the middle man, the oddsmaker actually studies the games and the teams and sets the lines for the games. Sometimes a bookmaker will adjust the lines, but they pretty much make money no matter who wins.

Leave a Comment

Previous post:

Next post: