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There are three forms of regular betting odds that you will see at every sportsbook that you visit, whether online or in person. These are the ones that you see right off the bat and the ones that really matter when you are betting on sports.
If nothing else, you have probably heard them talked about by either your friends or TV broadcast on ESPN or other channels. First there are the moneyline betting odds , which is the bet on who will win the event out right with no point spreads or other variables. You simply pick the team you think will win and place the bet. However, without using the odds, the payouts are usually much different then they would be with the odds in place.
Next we come to what may be the most commone type of sports betting odds, which is the point spread. They put point spreads up for all of the main sports such as football, basketball, hockey, baseball, and others.
This is called "The Spread" and it basicly tells you which team is favored and by how much. When betting the spread, you are betting that a team will win by a certain number of points, runs, or whatever. Here is an example to help you understand point spreads in football. If Team A wins, but only by 3 points, then you will still win and get paid.
There are over and under beting odds for pretty much every sport including baseball, football, hockey, UFC, Basketball, Horse racing, and much more. If the number is 42 in a football game and you bet the over, you would need 43 points total between the two teams. In baseball betting it is the amount of runs scored that sets the total.
Hockey totals are how many goals will be scored between both teams. With the spread and the total you will occasionally see that the odds are distributed with "half points," which are in place to prevent a "push," or no one winning or losing the bets.
As long as there is a winner or loser, the sportsbooks will make their money on the juice and be happy. The truth of the matter is that Vegas pretty much sets all of the sports betting odds for the entire world. All of the worlds leading experts work for the big casino companies in Las Vegas, and all of them work together to set the ods for different sports.
Anytime you hear someone asking or talking about Vegas odds, they are simply talking about the odds and nothing specifically related to Vegas. All of the online sportsbooks use services that simply use the Vegas odds as a starting point for events.
Then their own systems will adjust the spread depending on how people are betting at their sportsbook. Exotic bets are there to make for a more entertaining betting experience, but they work somewhat differently compared to the straight bets.
But, the original point spread is still used in all these bets no matter how you look at it. Parlays are essentially a combination of two or more bets into one, such as three teams winning their respective matches. These parlays are usually a long shot since so many teams have to win, but in the end they are also some of the highest paying games.
In making a bet where the expected value is positive, one is said to be getting "the best of it". However, if someone offered odds of 10 to 1 that a card chosen at random from a regular 52 card deck would be the ace of spades, one would be getting "the worst of it" because the chance is only 1 in 52 that the ace will be chosen. Player A wins if the dice add up to 12, of which there is only one possible case. Player B wins if the dice fall in any other combination, of which there are 35 possibilities.
When making a bet in which one must put more at risk than one can win, one is laying the odds or laying the bet ; rational bettors will do so only if the actual chances of an adverse outcome are low enough that the expected outcome even after deduction of taxes and any transaction costs is favorable to the person laying the bet.
The phrase "[I would bet] dollars to doughnuts [that a given event will or will not occur]," coined in an era when one dollar could purchase numerous doughnuts [ citation needed ] , thus indicates one's high subjective confidence, or at least one's desire to be perceived as having that confidence, in the outcome that one predicts.
It is possible to be getting "the best of it" or "the worst of it" during lay a bet; laying a bet does not necessarily mean getting "the worst of it". Favoured by bookmakers in the United Kingdom and Ireland and common in horse racing , fractional odds quote the net total that will be paid out to the winning bettor relative to the stake.
The term "fractional odds" is something of a misnomer, especially when visually reinforced by using a slash as opposed to, e. This fraction may be derived by subtracting 1 from the reciprocal of the chances of winning; for any odds longer than "even money," this fraction will be an improper one.
If the odds are 1: In either case, against or on , should he win, the bettor always receives his original stake back, so if the odds are 4: Not all fractional odds are traditionally read using the lowest common denominator. Perhaps most unusual is that odds of Fractional odds are also known as British odds, UK odds,  or, in that country, traditional odds.
Favoured in Continental Europe , Australia , New Zealand and Canada , decimal odds differ from fractional odds by taking into account that the bettor must first part with their stake to make a bet; the figure quoted, therefore, is the winning amount that would be paid out to the bettor. It is considered to be ideal for parlay betting because the odds to be paid out are simply the product of the odds for each outcome wagered on.
Decimal odds are also known as European odds , digital odds or continental odds and tend to be favoured by betting exchanges because they are the easiest to work with for trading, in this case the purchase and sale of upside and downside risk. Moneyline odds are favoured by United States bookmakers and as such are sometimes called American Odds. A high plus total is taken to mean that a guy is a good defensive player.
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