Sports betting is a hobby that many sports lovers like to indulge in. Chances are you’ve seen your friends bet on sports throughout the season. But if you’re new to it, you may not know how to bet on sports.
Take a look at the information below to get a quick reference about sports betting:
The Basics of Sports Betting
When it comes to sports betting, there are different techniques for oddsmaking and betting. Also, the systems for betting vary depending on the sport.
However, to better understand the art of how to bet on sports, it’s best to understand the jargon. Here are a few common phrases:
Action: Action simply means sports betting. When you say something like, “I want in on the action”, you’re saying that you want to start a bet.
Juice: Juice is the portion of bids taken by the bookie for profit.
Handle: The handle is the amount of money wagered on bids. For instance, football betting during the Super Bowl creates the biggest handle of the year for the majority of bookies.
The money line: In baseball betting, the scores aren’t high enough to use a point spread. Therefore, a money line is used instead. Basically, it’s a pricing system.
Handicap: In the betting world, to handicap means to give a team extra points in order to balance the betting field.
Pick Em: Money line games are sometimes labeled as “pick” or “pick them”. This is when the teams are considered equal and the line on both teams is 1-10.
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Oddsmaker Vs Bookie: What’s the Difference?
A bookie’s job is to find the line, offer bets at those odds, and collect the money from the losers. He also pays the winners and maintains the vig.
On the other hand, an oddsmaker doesn’t take bets. He studies the games and sets the lines. Bookies sometimes adjust the spreads for their games and do minimal oddsmaking.
What Are the Odds?
With football betting and baseball betting, the money line is referred to as the line, which means the odds for a certain game. In order to set the line, it requires in-depth research and good intuition.
- To determine the odds, you’ll need to understand the following:
- Homefield advantage
- Teams performance during the season
- Team morale
- The weather forecast
- Injuries of primary players
All of these aspects help to predict the outcome of the game. Of course, you can never fully predict who will win the game.
Bet on Sports Like a Pro
Hopefully this information helps you learn a little more about sports betting. If you’re a rookie, there’s a lot to learn, but once you get the hang of it, you’ll enjoy it and possibly make some money.
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