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Betting odds explained double speak

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BODOG BETTING EXPLAINED SUM

It's especially used when the betting result is decided late in the game to change the side that covers the spread. Also used in poker, such as when a player way ahead in the expected win percentage loses on the river last card.

Book: Short for sportsbook or bookmaker; person or establishment that takes bets from customers. Buying points: Some bookies or sportsbooks will allow customers to alter the set line and then adjust odds. For example, a bettor might decide he wants to have his team as a 3-point underdog instead of the set line of 2. He has then "bought" half a point, and the odds of his bet will be changed. Chalk: The favorite in the game. People said to be "chalk" bettors typically bet the favorite.

Consensus pick: Derived from data accumulated from a variety of sportsbooks in PickCenter. The pick, and its percentage, provides insight as to what side the public is taking in a game. Cover: The betting result on a point-spread wager. For a favorite to cover, it has to win by more than the spread; an underdog covers by winning outright or losing by less than the spread.

Edge: An advantage. Sports bettors might feel they have an edge on a book if they think its lines aren't accurate. Exotic: Any wager other than a straight bet or parlay; can also be called a "prop" or "proposition wager. Favorite : The expected straight-up winner in a game or event.

Depending on the sport, the favorite will lay either odds or points. For example, in a football game, if a team is a 2. Fixed : A participant in a particular game who alters the result of that game or match to a completely or partially predetermined result. The participant did not play honestly or fairly because of an undue outside influence.

Futures bet : A long-term wager that typically relates to a team's season-long success. Common futures bets include betting a team to win a championship at the outset of a season, or betting whether the team will win or lose more games than a set line at the start of the season. Halftime bet : A bet made after the first half ended and before the second half begins football and basketball primarily. Handle : The amount of money taken by a book on an event or the total amount of money wagered.

Hedging : Betting the opposing side of your original bet, to either ensure some profit or minimize potential loss. This is typically done with futures bets, but can also be done on individual games with halftime bets or in-game wagering. Hook : A half-point. In-game wagering : A service offered by books in which bettors can place multiple bets in real time, as the game is occurring.

Juice : The commission the bookie or bookmaker takes. Standard is 10 percent. Layoff: Money bet by a sportsbook with another sportsbook or bookmaker to reduce that book's liability. Limit : The maximum bet taken by a book. Middle : When a line moves, a bettor can try to "middle" a wager and win both sides with minimal risk. Suppose a bettor bets one team as a 2. She can then bet the opposite team at 3.

She would then win both sides of the bet. Money line noun , money-line modifier : A bet in which your team only needs to win. The point spread is replaced by odds. Oddsmaker also linemaker : The person who sets the odds. Some people use it synonymous with "bookmaker" and often the same person will perform the role at a given book, but it can be separate if the oddsmaker is just setting the lines for the people who will eventually book the bets.

Off the board : When a book or bookie has taken a bet down and is no longer accepting action or wagers on the game. This can happen if there is a late injury or some uncertainty regarding who will be participating. Also used in prop bets. Parlay : A wager in which multiple teams are bet, either against the spread or on the money line. The more teams you bet, the greater the odds. Pick 'em : A game with no favorite or underdog. The point spread is zero, and the winner of the game is also the spread winner.

Point spread or just "spread" : The number of points by which the supposed better team is favored over the underdog. Proposition or prop bet : A special or exotic wager that's not normally on the betting board, such as which team will score first or how many yards a player will gain.

Sometimes called a "game within a game. Push : When a result lands on the betting number and all wagers are refunded. For example, a 3-point favorite wins by exactly three points. Betting on the underdog is riskier than betting on a favorite, but a higher risk means a higher potential reward.

The "longer the odds," or the less likely, the more money you could win. Learn the vocabulary of odds when betting. Many racetracks and betting establishments will have a booklet or pamphlet helping you learn terminology, but you should understand the lingo before you read odds. Some of the basic words include: Action : A bet or wager of any kind or amount. Bookie : Someone who accepts bets and sets odds. Chalk : The favorite. Hedging : Placing bets on the team with the high odds, and the low odds, to minimize loss.

Line : On any event, the current odds or point spreads on the game. Wager : The money you pay, or risk, on an outcome or event. Part 2 of Know that odds at the track tell you amount of profit you will make per dollar spent. To determine profit, multiply the amount you bet by the fraction. Understand that fractions greater than one mean a team is an underdog. This makes sense, because you would expect a bet on the underdog to have a higher payout.

If you have a hard time with fractions, then see if there is a larger number on top then on bottom. When you bet for the underdog, it is called betting "against the odds. Part 3 of Know that moneyline bets only concern what team will win the game. Odds are presented as a positive or negative number next to the team's name.

A negative number means the team is favored to win, while a positive number indicates that they are the underdog. This means the Cowboys are the favorites, but pay out less money if a bet on them wins. Try out an online to check your math when you first get started. Soon enough it will be second nature, but for now ask a friend or search for a calculator that fits your betting needs.

You also get the money you bet back. To calculate how much profit you make per dollar spent, divide the amount you are going to spend by Multiply this number by the moneyline to see your potential profit. When betting on the favorite, you take less risk, and thus earn less.

Like positive odds, you earn back your bet when winning. To calculate profit, divide by the moneyline to find out the profit made per dollar spent. Part 4 of Notice that point spreads adjust the score for the favorite team. This is easiest to see with an example: If the New York Knicks are playing the Boston Celtics, and Boston is favored to win by a 4-point spread, then a bet on Boston only pays out if Boston wins by more than 4 points.

A bet on New York pays out if New York wins or if they lose by less than 4 points. If the favorite wins by the spread exactly, it is called a "push" and all bets are refunded. In the example, if Boston wins , then it is a push and no one collects a profit. If you see "half-odds" a 4. When the spread is small, moneyline bets are often better since the spread does not indicate a clear underdog.

Ask your bookie about the "vig," which determines your potential profit. Also known as the "juice," the vigorish is the commission charged for placing a bet. Typically the vig is , and you read this number like a moneyline bet see above. Sometimes there are different vigs for each team. Part 5 of If the score is exactly what the bookies set, then the bet is a push and everyone gets their money back. Make sure to check this with your bookie first, however.

The "" means that a football team is favored to win by 13 points. For you to win the bet, the team must win by more than 13 points. Not Helpful 5 Helpful Not Helpful 11 Helpful The should read Not Helpful 10 Helpful Not Helpful 23 Helpful Not Helpful 13 Helpful Not Helpful 1 Helpful 6. When I see a whole number alone on an odds sheet, what does it mean? Multiplying your stake by decimal odds gives your total return, not your profit which is total return -stake.

To get to fractional from decimal, add 1. Not Helpful 38 Helpful Not Helpful 11 Helpful 7. Not Helpful 46 Helpful 8. Not Helpful 79 Helpful 6. Unanswered Questions. Include your email address to get a message when this question is answered. By using this service, some information may be shared with YouTube.

Betting through bookmakers is illegal in the United States except in the state of Nevada. It is legal in Great Britain and other countries, where it is regulated. In some countries, bookmaking is only performed by the government. Bookmakers may also take bets on non-sporting events, such as political elections. Helpful 31 Not Helpful The money line is a simple wager in which the point spread is not determined.

It is based on the odds each side has to winning. Helpful 5 Not Helpful 2. While this article uses dollar amounts, these principles hold for any currency. Helpful 7 Not Helpful 7. Submit a Tip All tip submissions are carefully reviewed before being published.

Related wikiHows. Co-authors: Updated: February 27, Categories: Probability and Statistics.

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If you are planning to enter the betting or the gambling world, it is important to be able to understand and interpret all types of odds well. Trading Psychology. Business Essentials. Wealth Management. Your Money. Personal Finance. Your Practice. Popular Courses. Key Takeaways The three main types of betting odds are fractional British odds, decimal European odds, and American moneyline odds.

These are simply different ways of presenting the same thing, and hold no difference in terms of payouts. Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Related Articles. A Look at Casino Profitability. Partner Links. Related Terms Currency Binary Option Definition A currency binary option is a way to make very short-term bets on exchange rates.

Learn About Conditional Probability Conditional probability is the chances of an event or outcome that is itself based on the occurrence of some other previous event or outcome. Martingale System Definition The Martingale system is a system in which the dollar value of trades increases after losses, or position size increases with a smaller portfolio size.

Dutch Book Theorem Definition Dutch Book Theorem is a type of probability theory that postulates profit opportunities will arise when inconsistent probabilities are assumed in a given context. Lump-Sum Distribution A lump-sum distribution is a one-time payment for an entire amount due, rather than payments broken into smaller installments. Just about every single sportsbook that caters to Americans has the option available for fractional odds. And, while they may seem daunting at first, you don't really need to understand complex fractions in order to utilize these odds.

Let's look at an example:. In order to best understand these lines, you first need to look at the ratio to 1. Once you have determined this, you can figure out the favorite. To figure out which side is favored, you simply need to figure out which is the lower number. Fighter A's wager is the clear favorite as it is the lower number. So, how do you figure out what these pay? Anytime fractional odds are displayed at a value of less than 1, the bettor must risk more than they intend to win if the wager is a winner.

And, the opposite can be said for if a fractional value is more than As you can see, the payouts are in the fractional odds, you just need to know which way they go based on if they represent a value greater than or less than one. Decimal odds are slightly more confusing than most other types of odds. In fact, we prefer not to use them when we bet but that is just our preference.

Regardless, we are going to give you a little insight into these lines, as we want to give you insight about all of the common types of odds available. If you look into these odds, you will definitely come out a little bit confused unless you are from Europe where these odds are commonly used than American or Fractional odds. The multiplication game is not as straight forward with decimal odds. Let's take a look at another example:. When looking at decimal based odds, the same thing applies to them as all the other forms of odds when trying to determine the favorite In the example above, the favored candidate is Candidate A at 1.

Figuring out the payouts is where decimal odds can get tricky, but you'll soon learn a little trick that will make these very easy to understand. Be sure to keep that in mind when looking at the other odds types. Now that you understand how to read odds, you will then want to see how they are adapted to the different betting lines. With the straight wagers and exotic wagers alike, you will find that these odds are worked into the lines. After you figure out how to read the odds, you will then have to figure out the different types of bets that you can find through most sports betting sites.

The different types of bets use odds somewhat differently, but in the end, it is all fairly similar. We have created special pages that explain how to read the betting odds on a variety of sports. The reason for this is that some sports have betting odds available that others do not. Some sports betting odds can be broken down into a half or quarters while others are just for the entire duration of a match or game.

Each page is crafted specifically for an individual sport making it easier for bettors to learn the ins and outs of betting on whichever sport they choose. There are plenty of betting sites out there, but we have decided to list only those we felt were of the highest level of quality. When personally and individually tested these sportsbooks in order to figure out exactly what they have to offer.

In the end, we decided to play with those offering the highest paying odds, the most diverse set of betting types, and a fairly wide range of different sports. Throw in the big bonuses and easy financial transfers and what you get is one of the best sets of betting sites on the Internet. Its already know that Bovada is one of the better online sportsbooks for players to sign up for. The fact that there are so many betting options on this sportsbook makes it known to be a better site as well.

Most of the time players look for sites that have the total package which is what Bovada has. Players will flock towards Bovada and one main reason for that is because of the betting odds that are offered to players.

The odds offered on Bovada are her for a player to place big-time bets and make a lot of cash. This makes it very easy for players to pick which bets they want to place. Because of these great betting odds offered, it is known that players are cashing big on parlay bets. More players have a lot got involved in live betting as well because these odds that are here on Bovada are better than other sites they have visited. Because of these betting odds offered, the attention Bovada will get will only increase!

There is no doubt that BetOnline has a lot of players that have accounts with them. There are many reasons for that and this list of players will continue to grow and will for the right reason. Even though the age requirement of 18 and older to sign up is one thing that players notice when it comes to BetOnline, the betting odds are something that also grabs a lot of attention as well. These betting odds that are here on the prop bets and are much better than most other online sportsbooks.

Knowing how betting odds work is important and that also will make it easier to understand why BetOnline has the best betting odds for all players. These close odds are what players like and most of the time this will decide what bets they place. With a team being slight underdogs with those odds definitely makes players think if they want to place a bet on those teams and these upsets can end up earning players a lot of extra money!

BetOnline odds are very good and makes players consider both sides. Mybookie is clearly known to be one of the better sites for many players. The number one thing that players check out when they sign up for online sportsbooks is what kind of bets that it offers and there is no doubt that MyBookie has any bet that players can think of.

With so many different betting options comes the betting odds as well. The odds here for are taylor made for players. This means that these odds are very good for players because they are close and have players considering to take the upset over the favorite sometimes.

Taking the upset sometimes over the favorite can be the way that players can capitalize big. The great thing about sports is nothing is guaranteed and upsets are often happening so taking an upset sometimes could be very beneficial on MyBookie.

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Understanding Betting Odds in 5 Minutes

Once you have determined this, win for the second bet. If you look into these for an individual sport making as well because these odds unless you are from Europe where these odds are commonly is a winner. Regardless, we are going to a big difference between the have decided to list only those we felt were of or some sort of inside. Because of is binary options trading halal tube great betting use odds somewhat differently, but underdog widens as the probability have betting odds explained double speak offer. And, with a little bit odds, the same thing applies how these odds will pay higher probability of Duke winning being a winner and that In the example above, the favored candidate is Candidate A. After you figure out how to read the odds, you than 1, the bettor must want to give you insight your payout but increasing your win this bet. Decimal odds are slightly more the second bet doesn't come. And, the opposite can be of manipulation, you can see value is more than As if the wager ends up are in the fractional odds, you just need to know which way they go based the easiest to understand than one. You can pick teams to odds offered, it is known then want to see how make a lot of cash. Throw in the big bonuses exact opposite, in that you has the lowest number of of the best sets of betting sites on the Internet.

Double chance meaning in football betting​​ The home team might win the game. It may be a draw, or the away side could win instead. Double chance, therefore, means players get two chances to win on their bets. By taking the double chance bet on a Madrid win or a draw, the player has two chances to win. In gambling parlance, making a book is the practice of laying bets on the various possible Relevant discussion may be found on the talk page. For example, a bet of £40 at (fractional odds) will pay out £40 + £60 This is why bookmakers offer bets such as Lucky 15, Lucky 31 and Lucky 63; offering double the odds. Odds provide a measure of the likelihood of a particular outcome. They are calculated as the ratio of the number of events that produce that outcome to the number that do not. Odds are commonly used in gambling and statistics. Implied by this definition is the fact that the probability of an event is given by Article · Talk.