Sports Odds and Sports Betting
Money Lines
On money odds whenever there is a minus (-) you lay that amount to win a dollar, where there is a plus (+)you get that amount for every dollar wagered.
Example:
Dodgers: + 150
Phillies: - 160/
Player would lay $160 to win $100 on the Phillies.
Player wagers $100 to win $150 on the Dodgers.
Point Spreads
This involves giving or taking points. When reading the odds + points go to the underdog and - points go to the favorite.
Example: Player wagers on Miami -7 to beat Buffalo +7
If Miami wins by more than 7 points the player wins. If Miami only wins by 7 points then the game is considered "no action" and all money is returned. If Miami wins by less than 7 points the wager is lost.
European Odds
All European football lines are quoted using European odds. European odds are different from the North American style of odds. In North America money lines are used to determine the line. European odds are very simple to understand. Let's say the team you want to bet is on offer at 4.00.
That means that for every $1 you bet on them, you get back $4 if they win. That means you have a profit of $3 plus your $1 stake returned. If you lose, you lose your $1.
If the team is at 1.60, you only make $0.60 profit on your $1 stake and you get your $1 stake back.
Some bettors are used to the American system of betting. This is where odds are expressed as -180 or +300. If you place a bet at -180, it means that you need to bet $180 to win $100. That is the same as 1.36 in European sports betting.
Combination Bets (parlays)
A Combination bet, also called parlay, involves several different propositions. The customer must correctly choose all the propositions to win. The customer can combine a minimum of 2 propositions and a maximum of 10.
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