Learn how to bet on sports with this simple sports betting explained guide.
Sports Betting Explained: Wagering Lines
Let’s start this sports betting explained guide with info on what wagering lines are all about. Here’s an example of a wagering line, including NFL point spreads.
- Lions+7.5-110 / ML +300
- Buccaneers -7.5-110 / ML -405
- 56.5 O/U -110
Sports Betting Explained: The Vig or Juice
This is the kind of line you’ll see at most online sports betting operations. And it’s based on a -110 wager. This means that you get $100 for every $110 you bet. As you can see, this is not an even bet, as the house is pocketing an extra $10. Those extra $10 are known as the vig or the juice, and that’s the commission the sportsbook takes for the service of booking your bet.
Sports Betting Explained: The Favorite
Now in our sports betting explained guide, some info on the favorite side. Here, the Bucs are the favorites, and the -7.5 you see next to them is called the point spread.
As Tampa is a better team, they are given a wagering disadvantage for the player. And the reason is that the Bucs are more likely to win, but that doesn’t mean that you also win your bet.
In this example, the Buccaneers need to beat the Lions by more than 7.5 points for you to win your bet. If they win but by less than that, you lose your wager.
Sports Betting Explained: The Underdog
Next in our sports betting explained guide, let’s check out what an underdog is. In the example above, the underdogs, or worse team, are the Lions. And, since they are weaker in talent than the Bucs, they’re given a +7.5 point advantage by the bookmaking agent.
This means that Detroit can lose the game, and you can still win your wager on the Lions if they lose for less than 7.5 points. If they lose to Tampa for more than 7.5 points, you lose your bet.
Sports Betting Explained: The Total
Now in our sports betting explained guide, let’s check out what the total is. In the above example, the total is 56.5, and if you bet the total you need to decide if the combined score of both teams at the end of the game is going to be above or below 56.5. It’s as simple as that. If the game goes above and you wagered that way, you win, and vice versa.
Sports Betting Explained: Parlays
Next in this sports betting explained guide, let’s check out what parlays are. A parlay is a multi-bet wager. This means that you’re combining different single bets into a larger one. And, the more bet predictions you add your parlay, the more you get to collect if you win. There’s a variety of parlay bets you can make, such as teasers, round robins, and more.
Sports Betting Explained: Props and Futures
Next in our sports betting explained guide, let’s check out what props and futures are.
- Props: These are fun bets that are not exactly related to the outcome of a given sporting event. In fact, a sportsbook or bookmaker can create prop bets out of almost anything. For example the presidential election, or super bowl props.
- Futures: These are wagers that are indeed connected to the outcome of a given sporting event. This can include total wins for an NFL team during a given season, teams that you believe will make it to the NFL postseason, who you believe will be the division, conference, and super bowl champs.
We hope you’ve enjoyed this easy sports betting explained guide, and we wish you the best of luck with your future wagering action!