NFL Betting

The art of bookmaking is in setting the odds low enough so as to have a positive expected value of profit while keeping the odds high enough to attract customers, and at the same time attracting enough bets for each outcome to reduce his risk exposure. Line football betting is usually associated with American sport where bookmakers offer "line betting" on a handicap such as Money Line betting, which refers to odds on the outcome of an individual game. In gambling, the odds are the ratio of payoff to stake, and do not necessarily reflect exactly the probabilities. Report Abuse

Fractional Odds

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If you like favorites, you're going to be betting a lot to win a little. The money line will always be listed to the right of the point spread on the odds board in a sports book. Parlays - these might be the most popular bets out there, especially among novice and amateur bettors, perhaps because of the lure of betting a small amount for a potentially big payoff. But they are fool's gold at best. Parlays involve wagering on two or more games on the same bet following the casino's pre-determined payout scale.

Each game on a parlay must win for the bet to be a winner. This is how the sportsbooks make a lot of their money. For instance, let's say you want to bet a two-team parlay. However, the sportsbook is only going to pay you 2. The house vigorish - and your chances of winning - get worse with the more teams you add.

So while some sportsbooks will let you place a teamer with astronomical odds, you probably have a better chance of being struck by lighting - twice - before winning one. You are much better off sticking to two-team parlays exclusively, if you insist on taking poor odds and placing parlay wagers. Teaser bets - The teaser is so named because it, too, looks tempting, but if you allow yourself to get too seduced, you'll usually end up on the losing end.

The teaser bet gives or takes away extra points from the team you back. However, there are some good values with teaser bets if you know how and where to find them. For instance, the six-point teaser is an especially effective bet in the NFL, where most games are tightly contested and six points can make a world of difference. For instance, in our previous example, the Bears would go from laying six points to simply needing to win if you put them on a teaser bet.

Conversely, Detroit backers could get 12 points instead of the starting six. This page requires JavaScript, which is not enabled on your browser. Doc's Sports Service When you bet on the money line , you are betting on one side to simply win. With the money line you just have to hope your team wins rather than cover a point spread. Of course, the one downside is having to risk more money to return the same amount that a point spread bet would net you.

When the point spread was invented in Chicago by Charles McNeil the money line took a backseat. In football the money line is often a popular choice for bettors who have been burned by last-second scoring that actually had no actual affect on the outcome of the game. Money line bets tend to be even more popular with underdogs.

A nice profit can be made if a touchdown or more underdog pulls off an outright win. When betting with a point spread you are wagering that a particular team will win or lose by a certain amount of points.

This pays out even-money minus the vigorish, or bookmakers take, which we will later explain further. To better understand how point spreads work let's look at a typical NFL oddsboard: If the final score happens to end up exactly on the number it's a tie, or 'push,' and you get your money back. These are examples of 'side' betting with a point spread. There are also 'total' wagers that refer to the total amount of points scored by both teams.

The optimal situation for bookmakers is to set odds that will attract an equal amount of money on both sides, thus limiting their exposure to any one particular result. To further explain, consider two people make a bet on each side of a game without a bookmaker. In a perfect world if all bookmaker action was balanced, they would be guaranteed a nice profit because of the vig.

Lines with a - before the number i. A should be read as: That does not mean you have to bet that much, it's just easiest to understand! The most important thing you can teach yourself early on is: Money line odds - These are by far the most common form of odds in North America for sports betting.

They are expressed as numbers greater than , and they can be either a positive or negative number. Each one is a little bit different. Just what is a moneyline? Essentially, a moneyline bet is a bet on which team is going to win the game.

There is no point spread or other handicap for either team, so if you pick a team and it scores more points than the other team then you win. Obviously there has to be a catch, though, or the bet would be way too simple.

The sportsbooks balance their risk by setting different prices on each team. You win a smaller amount than you bet if you pick the favorite, and you generally win more than you bet if you pick the underdog.

In simplest terms, 6 to 1 odds means if you bet a dollar the "1" in the expression , and you win you get paid six dollars the "6" in the expression , or 6 x 1. If you bet two dollars you would be paid twelve dollars, or 6 x 2. If you bet three dollars and win, you would be paid eighteen dollars, or 6 x 3.

If you bet one hundred dollars and win you would be paid six hundred dollars, or 6 x If you lose any of those bets you would lose the dollar, or two dollars, or three dollars, or one hundred dollars. In statistics, the odds for an event E are defined as a simple function of the probability of that possible event E.

One drawback of expressing the uncertainty of this possible event as odds for is that to regain the probability requires a calculation. The natural way to interpret odds for without calculating anything is as the ratio of events to non-events in the long run. A simple example is that the statistical odds for rolling a three with a fair die one of a pair of dice are 1 to 5.

This is because, if one rolls the die many times, and keeps a tally of the results, one expects 1 three event for every 5 times the die does not show three i. For example, if we roll the fair die times, we would very much expect something in the neighborhood of threes, and of the other five possible outcomes.

That is a ratio of to , or simply 1 to 5. To express the statistical odds against, the order of the pair is reversed. Hence the odds against rolling a three with a fair die are 5 to 1. The gambling and statistical uses of odds are closely interlinked.

If a bet is a fair one, then the odds offered to the gamblers will perfectly reflect relative probabilities. The profit and the expense exactly offset one another and so there is no advantage to gambling over the long run. If the odds being offered to the gamblers do not correspond to probability in this way then one of the parties to the bet has an advantage over the other.

Casinos , for example, offer odds that place themselves at an advantage, which is how they guarantee themselves a profit and survive as businesses. The fairness of a particular gamble is more clear in a game involving relatively pure chance, such as the ping-pong ball method used in state lotteries in the United States. It is much harder to judge the fairness of the odds offered in a wager on a sporting event such as a football match. The language of odds, such as the use of phrases like "ten to one" for intuitively estimated risks, is found in the sixteenth century, well before the development of probability theory.

The sixteenth-century polymath Cardano demonstrated the efficacy of defining odds as the ratio of favourable to unfavourable outcomes. Implied by this definition is the fact that the probability of an event is given by the ratio of favourable outcomes to the total number of possible outcomes. Usually, the word "to" is replaced by a symbol for ease of use. This is conventionally either a slash or hyphen , although a colon is sometimes seen. When the probability that the event will not happen is greater than the probability that it will, then the odds are "against" that event happening.

Odds of 6 to 1, for example, are therefore sometimes said to be "6 to 1 against ". To a gambler, "odds against" means that the amount he or she will win is greater than the amount staked. It means that the event is more likely to happen than not. This is sometimes expressed with the smaller number first 1 to 2 but more often using the word "on" "2 to 1 on " , meaning that the event is twice as likely to happen as not.

Note that the gambler who bets at "odds on" and wins will still be in profit, as his stake will be returned. In common parlance, this is a " chance". Guessing heads or tails on a coin toss is the classic example of an event that has even odds.

In gambling, it is commonly referred to as " even money " or simply "evens" 1 to 1, or 2 for 1. The meaning of the term "better than evens" or "worse than evens" depends on context. From the perspective of a gambler rather than a statistician , "better than evens" means "odds against".

If the odds are evens 1: A successful gamble paying out at 4: So this wager is "better than evens" from the gambler's perspective because it pays out more than one for one. If an event is more likely to occur than an even chance, then the odds will be "worse than evens", and the bookmaker will pay out less than one for one. However, in popular parlance surrounding uncertain events, the expression "better than evens" usually implies a greater than percent chance of an event occurring, which is exactly the opposite of the meaning of the expression when used in a gaming context.

In statistics, odds are an expression of relative probabilities, generally quoted as the odds in favor. The odds in favor of an event or a proposition is the ratio of the probability that the event will happen to the probability that the event will not happen. Mathematically, this is a Bernoulli trial , as it has exactly two outcomes.

In case of a finite sample space of equally likely outcomes , this is the ratio of the number of outcomes where the event occurs to the number of outcomes where the event does not occur; these can be represented as W and L for Wins and Losses or S and F for Success and Failure.

For example, the odds that a randomly chosen day of the week is a weekend are two to five 2: These definitions are equivalent, since dividing both terms in the ratio by the number of outcomes yields the probabilities: For example, the odds against a random day of the week being a weekend are 5: Odds and probability can be expressed in prose via the prepositions to and in: For example, "odds of a weekend are 2 to 5", while "chances of a weekend are 2 in 7".

In casual use, the words odds and chances or chance are often used interchangeably to vaguely indicate some measure of odds or probability, though the intended meaning can be deduced by noting whether the preposition between the two numbers is to or in. Odds can be expressed as a ratio of two numbers, in which case it is not unique — scaling both terms by the same factor does not change the proportions: Odds can also be expressed as a number, by dividing the terms in the ratio — in this case it is unique different fractions can represent the same rational number.

Harm to minors, violence or threats, harassment or privacy invasion, impersonation or misrepresentation, fraud or phishing, show more. What do the plus and minus numbers mean in football odds? Are you sure you want to delete this answer?

The point of this is that we know the pats would win and its easy to pick them to win, but the challenge is to pick to see if they can win by more than the spread Sport Betting System http: When an even-strength or shorthanded goal is scored, every player on the ice for the team scoring the goal is credited with a "plus.

A high plus total is taken to mean that a guy is a good defensive player. Although you could bet more or less. Plus is the number of points given to the underdog.. Winning Sports Picks With Zcode!

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Yes, football and basketball are the two main sports that use point spreads. The spreads are determined by oddsmakers with no set limit for the margin of victory or defeat. In baseball and hockey, point spreads are called “runline” or “puckline” and are set at or + with the given to the favorite and the + given to the underdog. To bet on the NFL a bettor must understand each aspect of the betting slip, including the point spread, lines and totals. These are all basic to making an NFL bet and the better you understand odds and how they work, the more chance you have of winning. Betting is about assessing the chance or probability of an event happening and bookmakers like Pinnacle use odds to translate probability into a more usable form in order to offer betting. To really expand your understanding of odds and betting, you must also understand how to calculate probability.