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SPORTSBETTING GLOSSARY AND TIPS
Glossary
10 Cent Line - The money line difference (10 cents) between what a bettor would lay with the favorite or take back with the underdog; see Dime Line
20 Cent Line - The money line difference (20 cents) between what a bettor would lay with the favorite or take back with the underdog
Across The Board - A method of wagering on a horse to win, place and show
Action - A wager of any kind
Bad Beat - Tough Loss
Beard - Messenger bettor
Buck - $100
Chalk - Favorite
Circled Game - Game where action is limited due to uncertainties about weather, injuries, etc.
Cover - Win by more than the pointspread
Dead Heat - When two horses finish in a tie
Dime - $1000
Dime Line - Slang used to designate the 10 cent money line. The money line difference (10 cents) between what a bettor would lay with the favorite or take back with the underdog; see 10 Cent Line.
Dog - Underdog
Dollar - $100
Edge - Advantage
Even Money - A wager on which neither side lays any odds or vigorish
Exotic Bet - Action other than a straight bet or parlay
Exposure - The amount of money one actually stands to lose on a game or race
Favorite - The contestant in any given contest that is considered the most talented, or has the best chance to win the contest
Firing - Betting a lot. A player who is "firing" is wagering large sums
Futures - Wagers made, or lines/odds posted on an event or outcome taking place some time in the future, e.g. betting during the season on the SuperBowl winner.
Get Down - Make a bet
Halftime Line - A line on only the first half, or only the second half scoring of a football or basketball game
Handicapper - One who studies sports and predicts outcomes
Hedge - Bet the opposite of your original wager in order to reduce the amount of exposure you have on a game
Hook - Half point in pointspreads
Hot Tip - Information the bookmaker is not yet privy to
Juice - Bookmaker's commission, most often refers to the 11 to 10 football bettors lay on straight wagers. Also known as vigorish.
Lay The Points - A wager on a favorite in a pointspread contest
Lay The Price - A wager on a favorite in a moneyline contest
Limit - Maximum bet accepted by the house before the price will be changed
Line - The moneyline, odds, or pointspread of any given contest
Lock - Easy Winner
Longshot - Large underdog
Middle - To win both sides of a game. For example, if you bet the underdog +3 1/2 and the favorite -2 1/2 and the favorite wins by 3, you've middled the book. The book has been middled.
Moneyline - The amount you must bet to win 100 or the amount you win if you bet 100
Off The Board - Game where no bets are being accepted
Over/Under - A bet on whether the combined total of the points/goals scored by the two teams will exceed or be less than a specified number
Overlay - When the odds on a proposition are in favor of the bettor rather than the house
Parlay - A bet with two or more teams where all the teams must win for the bettor to be successful
Past Post - To make a bet after an event has started
Penny Line - A money line that is adjusted in increments of a penny, or one cent at a time
Pick or Pick'em - A game where neither team is favored
Player - Bettor, gambler
Pointspread - The handicap, or head start, which the favorite gives to the underdog for betting purposes
Press - To bet a larger amount than usual
Price - The moneyline odds on the favorite of a given match
Puppy - Underdog
Push - A tie between the bettor and the bookmaker that is the result of the score of an event falling exactly on the pointspread number, or the total points number
Rundown - Line update
Runner - Messenger bettor; see beard Score - To win a lot of money
Scratch - Withdraw; cancel
Sharp - Wise guy
Side - To win one side and tie the other. For example, if you lay -2 1/2 and take 3 on the same game and the favorite wins by 3 you have sided the book. The book has been sided.
Side Bet/Side Wager - A wager on a particular team, or side, to win a contest
Soft Line - A wagering line that is not current with the true posted line. A line that has been adjusted or moved as a result of action and does not reflect the true line as posted.
Spread - An abbreviated form of pointspread
Square - An unsophisticated player
Straight Bet - A single wager on a selected side or over/under
Take A Price - A wager on the underdog in a moneyline contest
Take The Points - A wager on the underdog in a pointspread contest
Teaser - A bet on 2 or more teams where the line on each team is adjusted in the favor of the bettor. Like a Parlay, all selections must be correct for the teaser to win
Total - The line on a given contest, representing the combined number of points/goals scored by the two teams; see over/under
Tout Service - A business that sells opinions on sporting events
Underdog - The contestant in any given contest that is considered the least talented, or has the least chance to win the contest
Underlay - When the odds on a proposition are in favor of the house
Value - An overlay
Vigorish - Bookmaker's commission, most often refers to the 11 to 10 football
bettors lay on straight wagers. Also known as juice.
Wise Guy - Established and successful sports bettor
GLOSSARY FOR NFL - FOOTBALL BETTING
Point Spread Betting (Straight Bet)
The team wagered on must win by the point spread given at the time of the wager. For straight wagers, unless otherwise indicated, the odds are $110 to win $100. Games that tie (push) are considered "no action" and money is re-deposited back into your account. Due to changing events, the point spread may fluctuate at any time.
Example: Player wagers $110.00 on Patriots -7 to beat Colts +7 If Patriots wins by more than 7 points the player wins $100.00 so the total payout including the intial wager would be $210.00. If Patriots only wins by 7 points then the game is considered "no action" and all money is returned to the bettor. If the Patriots wins by less than 7 points the wagers is lost.
Totals (Over/Under)
The combined score of both teams for games wagered on, all totals lay $1.10 to win $1.00 unless it is otherwise indicated.
Example: The player lays $220.00 on the OVER in the Patriots/Colts game. The total for the game is 45. If both teams' combined score is more than 45 than the player would win $200.00. If the combined score is equal 45 the game is concidered "no action" and the mone y is returned. If the combined score is less than 45 then the wager is lost.
Money Line Bets
The team wagered on just has to win the game. The amount you lay or take for each game may vary. The money line that is read to at the time of your bet is the money line you keep regardless of any line movement.
Example: The player wagers on Patriots -160 at Colts +260. If Patriots wins then the player would lay $160.00 to win $100.00. If the player bet on Colts then the player would lay $100.00 to win $260.00.
Halftime Bets
Halftime betting is simply a bet only on the score of the first, or second half of a contest. The line offered will be a pointspread, a moneyline, or a combination of the two, but the bet applies only to the score of the halftime period specified.
Parlays (also known as Multiples or Combos)
This is a bet of 2 or more teams (selections) or propositions in no particular order. All teams wagered on in a parlay must win. If there is a tie, or "no action" among the selections made, the parlay reverts down to the next lowest number for payoff. In the case of a 2-team parlay, it will revert down to a straight bet. No parlay bets will be accepted where individual "selections" are connected. For example, you cannot parlay the over of the first half of a football game with the over of the total game, because the two are 'connected'.
Player wants to make a 5 team parlay:
Patriots -7
New York +3
Seattle -4
Denver -10
San Francisco -8
If all these games win then the player would have won at 20-1 odds. If only 1 team loses then the entire parlay loses.
Parlays are a very exciting way for the sports betting enthusiast to WIN VERY LARGE AMOUNTS OF MONEY WITH VERY LIMITED RISK! Just look at the simple payout chart below to see how much you'll win by betting a parlay.
Typical Parlay Net Winnings:
2 Teams $5 to win $13
3 Teams $1 to win $ 6
4 Teams $1 to win $11
5 Teams $1 to win $ 21
6 Teams $1 to win $ 40
7 Teams $1 to win $ 75
8 Teams $1 to win $125
9 Teams $1 to win $150
10 Teams $1 to win $ 300
11 Teams $1 to win $ 450
12 Teams $1 to win $ 600
13 Teams $1 to win $ 750
14 Teams $1 to win $ 900
15 Teams $1 to win $1500
The opening line is the first line created by the oddsmakers, which is then sent out to sportsbooks. Of course there is an entire method to the madness on how the opening line is created. Our bookmaker explained that it all starts with each oddsmaker creating a line on each game based upon their own personal approach. This usually includes having up-to-date power ratings on each team.
Power ratings are the oddsmaker’s value of each team and are used as a guide to calculate a "preliminary" pointspread on an upcoming game. The power ratings are adjusted after each game a team plays. Examples of non-game factors that would require an adjustment to a team's power rating are key player injuries and player trades.
Once a game’s power rating based pointspread is determined, the oddsmaker will make adjustments to that line after considering each team's most recent games played and previous games played against that opponent. Also, adjustments are made after reading each team’s local newspapers to get a sense of what the coaches & players are thinking going into the game.
Since the oddsmaker’s ultimate goal is equally dividing the betting action, public perception and betting patterns must be taken into account. For example, the public might have heavy betting interest week after week on a popular college football team such as New England Patriots. If an oddsmaker comes up with a preliminary line of New England Patriots -7, then an adjustment up to -7.5 or -8 would be made in response to the public’s expected New England Patriots bias.
The last step in the line-making process for each oddsmaker is taking one final look to determine whether or not the line "feels right." This is where common sense and past experience with how games are bet enters into the picture.
A round-table discussion among the 4-5 oddsmakers involved in making the line for each sport is then conducted and a consensus line is decided upon by the Odds Director before it is released to the sportsbooks. Of the 4-5 oddsmakers, generally the 2 most respected opinions are weighed more heavily by the Odds Director before he decides on the final line.
Once the opening line is released by LVSC, the individual sportsbooks decide if they want to make any adjustments before offering it to the public. Reasons for such adjustments include:
experts working for the individual books having a strong opinion on the game.
Individual books having players who consistently bet with certain tendencies (such as an extreme bias toward favorites or towad certain popular team like New England Patriots)
The purpose of these adjustments, like all line adjustments, is to more equally divide the betting action.
Once betting begins, sportsbooks can adjust the line at any time. In doing so they attempt to make more attractive the team that is getting less action. By moving the line, sportsbooks can influence how the public bets on a particular game.
For example, if the pointspread on a game is 7 and most of the money is coming in on the underdog (taking the +7), sportsbooks will then move the number down to 6 ½ to try and attract money on the favorite.
Moving the line is the oddsmaker's effort to balance betting action, and often times such moves can have a major impact on a bettor’s decision.
Oddsmakers can also change the line depending on various event-related factors such as player injuries or weather. Obviously, if the line comes out a week ahead of the event (which is the case in football), there is much that could happen during the week leading up to the event that could affect the line. Oddsmakers have to determine if any changes are necessary and send out an "adjusted line."
“The main objective is that our clients get equal action on both sides,” Our bookmaker said. “We’re not trying to pick the team that covers the spread, we’re trying to make it a coin flip, a tough decision (for the bettor). If we’ve done that, we’ve done our job.”
NFL Football Betting Bet Types
Point Spread Betting (Straight Bet)
The team wagered on must win by the point spread given at the time of the wager. For straight wagers, unless otherwise indicated, the odds are $1.10 to win $1.00. Games that tie are considered "no action" and money is re-deposited back into your account. Due to changing events, the point spread may fluctuate at any time.
Example: Player wagers $110.00 on Miami -7 to beat Buffalo +7 If Miami wins by more than 7 points the player wins $100.00 so the total payout including the intial wager would be $210.00. If Miami only wins by 7 points then the game is considered "no action" and all money is returned to the bettor. If Miami wins by less than 7 points the wagers is lost.
Totals (Over/Under)
The combined score of both teams for games wagered on, all totals lay $1.10 to win $1.00 unless it is otherwise indicated.
Example: The player lays $220.00 on the OVER in the Miami/Buffalo game. The total for the game is 45. If both teams' combined score is more than 45 than the player would win $200.00. If the combined score is equal 45 the game is concidered "no action" and the mone y is returned. If the combined score is less than 45 then the wager is lost.
Money Line Bets
The team wagered on just has to win the game. The amount you lay or take for each game may vary. The money line that is read to at the time of your bet is the money line you keep regardless of any line movement.
Example: The player wagers on Miami -160 at Buffalo +260. If Miami wins then the player would lay $160.00 to win $100.00. If the player bet on Buffalo then the player would lay $100.00 to win $260.00.
Halftime Bets
Halftime betting is simply a bet only on the score of the first, or second half of a contest. The line offered will be a pointspread, a moneyline, or a combination of the two, but the bet applies only to the score of the halftime period specified.
Parlays (also known as Multiples or Combos)
This is a bet of 2 or more teams (selections) or propositions in no particular order. All teams wagered on in a parlay must win. If there is a tie, or "no action" among the selections made, the parlay reverts down to the next lowest number for payoff. In the case of a 2-team parlay, it will revert down to a straight bet. No parlay bets will be accepted where individual "selections" are connected. For example, you cannot parlay the over of the first half of a football game with the over of the total game, because the two are 'connected'.
Example
Player wants to make a 5 team parlay:
Miami -7
New York +3
Seattle -4
Denver -10
San Francisco -8
If all these games win then the player would have won at 20-1 odds. If only 1 team loses then the entire parlay loses.
Parlays are a very exciting way for the sports betting enthusiast to WIN VERY LARGE AMOUNTS OF MONEY WITH VERY LIMITED RISK! Just look at the simple payout chart in the next page to see how much you'll win by betting just $250 on the parlay combinations.
Football Betting Facts -Things to Remember
Of all the sports that an online sportsbook or local bookie will take a wager on, football by far is the best when it comes to action and excitement. If you are capable of keeping your mind and heart separate when it comes to analyzing games, you are already on your way to a winning season. Below are a few important things to remember for any serious handicapper.
1. Some guy pawning a 1-900-number does not have inside information or secret spies hidden in the locker room. If you believe that, you deserve to fork over the $25 or more for a call to a guy who is lucky to hit 50% for the year.
2. Watch as much football as you possibly can. Nothing beats actually seeing the games. Watching ESPN or reading in the sports page about a 42-17 blowout does not always tell the entire story. A team may get blown out in terms of scoring, but drove up and down the field and turned it over in the redzone or took stupid penalties. The following week the team that was humiliated is a huge dog and the team that blew them out a big favorite. Maybe the team that scored 42 is playing a team that won’t fumble every time in the red zone.
3. Understand garbage yards and the backdoor cover. Sure a team may have had 400 yards passing, but that was after being down 28-0 and playing against guys who didn’t even start in high school. Having a team minus 24 and being up 28-0, but allowing Badball University to score a late garbage TD will haunt a gambler’s dreams for weeks.
4. Avoid doubling up at all costs. Trying to double bets to break even has backfired more than it has worked. I have seen people go from being down a few hundred to a few thousand in a single gameday.
5. Passing is fun to watch, but running is the key. One of my all-time favorite stats is from 1998 when out of 276 games that had a line with an actual spread winner, the team that had more rushing yards covered 202 times. Look it up, 202 times!
6. Watch out for trends and tread lightly. Most preview magazines post these almost unbelievable trends. So-and-So State is 8-0 vs. John Doe U the last 8 years! That is incredible you say; well, go back another 8 years and you see the series goes the other way and now you have an 8-8 trend. A good matchup analysis or power rating beats a trend almost every time.
7. If you are going to load up on something, load up in the early season. A few years back Tulane was God’s gift to the sharp handicapper until Vegas started adjusting their line. Tulane returned a defense that was incredible the year before, but they had no ESPN highlights or ink in the sports page. Look for the Tulane story of 2003-04 and ride that “unknown pony” until you have to get off.
8. If you have a favorite team or player, stay away from their games unless you are betting against them. No matter what you try and believe, you cannot reasonably handicap a team you love to watch and root for. You will make yourself believe they can win regardless if there are 100 angles pointing against it.
9. Dips/Teasers are sucker bets. There is no theory or statistics you can give me to think otherwise. When I would get a call and have someone place a dip, I knew I had at least one winner in the books for the day. Sure, people may have these stories how they hit 10 dips in a row, or how you can’t lose by dropping the point down and with the over, or boost NFL dogs up and mix them into combos. SUCKER! The do’s and don’ts are endless. Bottom line is to keep your money and heart separate and understand the fact of life that there is a reason your bookie has a much nicer car and house than you. Good luck this season!
How to Choose A NFL Football Betting Sportsbook?
How do you go about choosing a sportsbook? What things do you look for? What things are most important? There are a lot of sportsbooks out there today; some are good, others are poor. Let’s see if we can breakdown what is important, and what is not, when we choose a sportsbook.
The #1 consideration when choosing a sportsbook is security. The main thing is to get paid. You can have everything else in the world, but if you don’t get paid it means nothing. It is important to find out as much about a sportsbook as possible before sending your money to them. Many places have lists of good sportsbooks that are reliable. It could be a sports betting forum, a sportsbook review, or just a sportsbook forum. Don’t rely upon just one site, look around and look at several sites that review sportsbooks. That should give you a good idea of which ones are solid.
Some people think it is important where the sportsbook is located, but that is really a secondary concern. Good sportsbooks are all over the world and whether the book is located in Costa Rica or one of the many islands, it really doesn’t matter.
Many people choose a sportsbook based solely on the bonuses offered. That is not a good way to choose a sportsbook. It is nice to receive a signup bonus and it is great to get continual free money, but there are more important things.
In addition to security we also want two other main things when choosing a sportsbook. We want fair lines and good customer service. All the bonuses in the world won’t help us if we don’t get decent lines and don’t have good service. We need a website that is easy to use and functional, and most importantly, always available.
Let's recap the things that are most important when choosing a sportsbook
1. Reliability - Your money has to be safe. Getting paid is paramount.
2. Lines and Availability - Fair lines and the ability to always get down.
3. Customer Service - If a problem arises you need competent people to help you, and English speaking clerks.
Those three are the most critical when you choose a sportsbook. If you get those things, then everything else is gravy. And yes, that includes the bonuses. They are nice to have but should not be the deciding factor when you choose a sportsbook.
How the Opening Line For Football Odds Is Made
The opening line is the first line created by the oddsmakers, which is then sent out to sportsbooks. Of course there is an entire method to the madness on how the opening line is created. Our bookmaker explained that it all starts with each oddsmaker creating a line on each game based upon their own personal approach. This usually includes having up-to-date power ratings on each team.
Power ratings are the oddsmaker’s value of each team and are used as a guide to calculate a "preliminary" pointspread on an upcoming game. The power ratings are adjusted after each game a team plays. Examples of non-game factors that would require an adjustment to a team's power rating are key player injuries and player trades.
Once a game’s power rating based pointspread is determined, the oddsmaker will make adjustments to that line after considering each team's most recent games played and previous games played against that opponent. Also, adjustments are made after reading each team’s local newspapers to get a sense of what the coaches & players are thinking going into the game.
Since the oddsmaker’s ultimate goal is equally dividing the betting action, public perception and betting patterns must be taken into account. For example, the public might have heavy betting interest week after week on a popular college football team such as New England Patriots. If an oddsmaker comes up with a preliminary line of New England Patriots -7, then an adjustment up to -7.5 or -8 would be made in response to the public’s expected New England Patriots bias.
The last step in the line-making process for each oddsmaker is taking one final look to determine whether or not the line "feels right." This is where common sense and past experience with how games are bet enters into the picture.
A round-table discussion among the 4-5 oddsmakers involved in making the line for each sport is then conducted and a consensus line is decided upon by the Odds Director before it is released to the sportsbooks. Of the 4-5 oddsmakers, generally the 2 most respected opinions are weighed more heavily by the Odds Director before he decides on the final line.
OTHER FINE INTERNET SPORTSBOOKS AND SPORTSBETTING WEBSITES
| BET 365 | |
| bet365 is a division of bet365 Ltd., a leading
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| Minimum matches required: Minimum bet: Maximum bet: Maximum winnings: Ways to place a bet: Odds format: |
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| BET AT HOME | |
| Minimum matches required: Minimum bet: Maximum bet: Maximum winnings: Ways to place a bet: Odds format: |
Singles 1.0 EUR Varies 5000 EUR Per bet Internet, telephone European style (for example odds = 3.75) |
| Deposit options: |
Credit card, bank cheque, cheque sent by mail, bank wire |
| Creditcards accepted: | Eurocard, Diners, Mastercard, Visa |
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| Account currencies: | CHF, DKK, EUR, GBP, USD |
| Tax: | None |
| Languages supported: | English, German, Greek, Italian, Spanish, Swedish |
| Secured website: | Yes |
