Online sports betting has become a lucrative business in the past few decades. Internet bookies have certainly been around since the late 20th century. However, only recently has the technology become so advanced, that anyone can bet online without much worry.
It is precisely for this reason that online bookies are as popular as they are. Their success has resulted in plenty of newbies creating accounts, without the proper foreknowledge. While learning as you go can certainly be effective, it is much better to understand a few things before you start betting.
Odds
Odds are an essential aspect of sports betting, and learning how they work is a must. For example, if you bet online you might already be aware that there are three different odd types, that you may come across depending on where you are wagering.
- Moneyline: primarily used in the United States and Canada, moneyline odds make use of positive and negative numbers in the hundreds. The positive number represents the underdog, whereas the negative represents the favorite.
- Decimal: decimal odds are mostly popular in Europe and online bookies licensed by EU countries. They use decimal numbers to display the chances of one team or player defeating the other side.
- Fractional: finally, fractional odds are mostly popular in the United Kingdom and Ireland. Odds makers use fractions to display differences between the two sides.
Learning how sports betting odds work is essential. The best part is that in doing so, you will not only be ready to wager on sports, but you will also attain a greater understanding of how gambling in general works. So, whether you are a fan of the casino or the bookie, understanding the odds is very important.
Spread
Pointspread, or simply spread, is a tactic that bookies use in order to even the odds between two teams whose skill level is vastly different. They do this by giving out points to both teams (positive or negative) and creating the odds with these points in mind.
For example, if Team A is vastly superior to Team B, the odds makers might give Team B +4 points, and take -4 from Team A. If that is the case, then Team A has to close the gap between these points, in order for the spread wager to be considered successful.
Favorite/Underdog
The favorite and underdog terms have become so popular that they’ve entered common parlance. However, it is still important that we explain exactly what we mean by them. Of course, a favorite is a team who is much more likely to win the game. For example, if Team A is better trained, better equipped, more skilled, and has a longer history of winning, then they are the favorite.
The underdog on the other hand is the team that is less likely to pull off a victory. Of course, these aren’t set in stone. There have been many times when the underdog has managed to pull through and win a match. However, for the most part, the underdog team is given that distinction for a good reason.
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