Over the years, daily fantasy sports on sites such as ufa has brought forward the conventional sports betting. The stigma for anti-gambling, which was in existence for quite a long time, is fading with more people embracing sports betting.
With sports betting becoming legal in most states and countries across the world, sports fans are entering into sports betting daily, and it is good to have some basic knowledge regarding gambling.
Favorites vs. underdogs
When those making odds come up with a betting line on a particular game, they decide which team to be the underdog and which one to be the favorite. The favorite refers to the team that is likely to win the game, and it will have a negative sign next to its odds. The underdog is the team that is expected to lose, and it has a plus sign. If it is a toss-up game, then the books will be able to open it as pick em’ or pick.
When placing bets, there are two ways you can put on the underdog or the favorite. You can use the point spread where you bet on the margin of the victory. The underdog gets points while the favorite gives points. Spreads are readily available for all the sports but mostly used when betting on basketball or football.
Apart from the spreads, you can use money lines to bet on the underdogs or favorites. It is a method that is based on the team that will win the game. The favorites get a designation of a minus. If the favorites have a -100, it means that you will need to risk $100 to win $50. In case the favorites win, then you get $50, but in case they lose, you lose $100. Because it is assumed that the favorites will win, then you assume more risk when you bet on them.
Underdogs get a plus designation like +500. An underdog with +200 means that, if you place a bet of $100 on them, and they happen to win, then you get $200. In case the game is lost, you will lose $100. Because it is expected for the underdogs to lose, you get more rewards when you bet on them.
Apart from setting a line for the underdog and the favorites, the oddmakers set a total number of points that are scored in a game by a combination of both teams. That is what is referred to as total or, in other words, over/under. As a bettor, you can wager on whether the game will go or not go over or under the total.
Knowing the -0110-number listed next to your bet
There is a tax that is placed by the oddsmakers on each bet which is known as juice, vig or vigorish, or takeout. It refers to the commission that the bettor has to pays to the sportsbook for your wager to be accepted.
Placing a bet
With betting being legalized, there are more options for bettors to wager on. Check out if sports betting is legal in your area and how you can go about it by researching online.