Understanding the Odds in Sports Betting
Sports betting is a popular form of gambling that involves placing bets on a variety of sporting events. It is a growing industry and a popular activity around the world, but it can be tricky to understand the different types of wagers available.
Betting Odds Explained
Generally speaking, odds represent the favorable outcome of a game or event, and are often displayed as a percentage of the total amount paid to bettors on that particular matchup. These figures can be based on the total number of runs, goals or points scored by two involved sides. In some cases, the total can also be based on the difference between the teams’ win and loss totals.
The most common type of bet is a straight bet, which is wagering that a specific team will win a matchup. Other popular bets include moneyline bets, spread bets and parlays.
Understanding American Odds
When looking at sports odds, you’ll notice that the favorite has a plus sign and the underdog has a minus sign. These are known as American odds and they’re used frequently in sports betting.
You can see this in action on the betting board at most sportsbooks. The line will move as the public makes their bets on a particular game. It’s important to take note of this because it can give you an edge when deciding which team to place your bet on.
Pros Bet on Every Game
Professional bettors, who make their living from betting on sports, spend a significant portion of their time studying and analyzing each team’s strengths and weaknesses. They read local team beat reporters, watch video of each player and dissect the head-to-head matchups.
They use their knowledge of each team’s history, recent wins and losses, and other factors to calculate their odds. They also look at their schedule and factors that may affect their chances of winning the next game.
Aside from knowing the odds of each team, pro bettors also pay close attention to line movements. This is because if the line moves favoring the underdog, then that’s an indicator that the public is backing that team.
It’s always wise to keep in mind that the odds are a subjective matter, and your perception of them will determine whether or not you believe they’re fair. However, in most situations the odds offered will be standardized across sportsbooks.
Zig Zag Betting Theory
The zig zag betting theory is a popular strategy for NFL and NBA playoff series. It’s a great way to fade the public and get more value on your bets.
In order to implement this strategy, you must be familiar with the home-away format in those leagues. In the NHL and NBA, the higher seeded team plays at home in the first two games of the series before playing on the road. If you bet on the underdog in this scenario, you’ll be able to fade the public and get more value out of your bets.