How Sports Betting Works

Once the final results have been tallied, the spread is factored in and winners can be determined. ‘Puck Line Bets’ or ‘Puckline Bets’ are the hockey equivalent of NFL point spread bets or NBA point spread bets. They are also similar to ‘Runline’ bets in baseball which we are going to address shortly. Even if you were to place a new bet on another NFL game and bet $110 and win $100, the bookmaker still gets to keep that additional $10 and end up ahead.

You must pay a small fee no matter which side you take, which leads us to juice – or vig. While the Buccaneers didn’t need the 3 points the betting market gave them in the Super Bowl, the spread does play a role in the betting outcome of the game pretty regularly. Note that because this game took place on a neutral field , the spread was the actual representation of the difference between the two teams. That is, home field presumably didn’t factor into the spread. Odds compare one event to another event, whereas probability compares one event to both possible events.

Point spreads are popular options in sports betting; they even the playing fields. A point spread is a bet on the margin of victory in a sporting event. This means bettors must win more than 50% of the time to break even. In fact, on point spread betting at -110, the breakeven point comes out to 52.38%. Check out this page for more math behind the vig in sports betting.

But at the end of the day, bettors enjoy spread betting, so it’s a staple of the industry. If you bet 1 on a game with 8 to 3 odds and you win, your total payout will be 3.67 which is your bet plus 2.67 profit. Point spreads are calculated by handicappers in an attempt to make the outcome as close as possible.

In a betting line between two teams, the team expected to win, or the favorite, will have minus or negative odds. This means for every dollar wagered, you will earn less than a dollar if your bet wins. The team expected to lose, or underdog, will have positive or plus odds. This means for every dollar you wager, you will gain more than a dollar if your bet wins.

In summary, the point spread is a calculated prediction of how much a team will win or lose by. Ever want to bet on an event and find yourself questioning what it means to bet the point spread? The terms for how many places are paid and the adjustment of the odd may vary from event to event.