Online sportsbooks offer as much excitement
for your wagering dollar as virtually any other form of
gambling. Putting $25 bucks down on a four team parlay can
keep you on the edge of your seat for hours... and hitting
for a big win is guaranteed to make you come out of your
seat!
Perhaps the most confusing part of sportsbook
betting is the variety of bets offered ... the types of
wagers can get pretty creative. You can make bets for your
team to win the game. You can bet on which team will win
the Super Bowl (a "future"), you can make bets
where you pick a number of games, (parlays) and much more.
You can get "points" which means
after the game is over, you can add (or have to subtract)
a certain number of points from your team's total score
to see if you won the bet. This type of betting lets two
teams that have different skill levels on the playing field
be "even" on the "gambling field". These
points are known as the "point spread".
The point spread, or "points"
or "spread", is set by the "odds makers".
These guys are very skilled at what they do. An important
part of sportsbook betting is to understand the job of the
odds makers. Their job is not to pick the wiiners and losers
for the games.
Their job is to balance the bets so that
the same amount is wagered on each side. A casino makes
money on taking a percentage from the payoff of a bet. For
example, if you make a bet of $100 and win, you'll get back
your original $100, plus $90 that you won. The $10 share
for the casino is known as the "vigorish" or "juice".
Good spread makers know things such as the
public will bet more often on home teams and usually a 3
point advantage is needed to even out any home field advantage,
in the eyes of the betting public. Knowing how the public
will bet is a major requirement for a odds maker.
What the sportsbook hopes to do is to pay
you $100 out of the $110 someone else lost by betting on
the other team. In essence, they are being "middle
men" for betting action. They do not want to gamble,
although sometimes the casinos really take a beating when
they don't get the amount of money evenly bet on both sides.
In reality, you are not betting against the casino, you're
betting against other gamblers, with the casino being the
"broker".
The line can "move" or change,
depending on current circumstances. Let's say the Rams are
playing the 49ers next Monday night. The week before the
line has St. Louis favored by 10 points, meaning they must
win by 11 points or more to win the bet.
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