Online betting is all about odds. Odds are a way of measuring probabilities. They are used to predict the most probable outcome of specific events. Bookmakers offer odds to gamblers who like them.
There are different terminologies used for describing odds in various countries. In the U.S. they odds are called the ‘Moneyline’. You hear gamblers commonly ask ‘What’s the line’ on a certain football or basketball game.
The odds are displayed by a point system. If the team favorite has been figured to win by 3 points, then this will be shown on the betting site as a +3. If they are favored to lose by 3 points, then it would be a – 3. Example, the Eagles are playing the Dolphins, and they are the odds favorite to win by 8 points. It would be listed like this:
Eagles – 8 Dolphins +8
If you have the Eagles, you begin the game with an 8 point deficit, like you are already behind by 8 points. The opposite with the Dolphins.
Ties lose. If the final score of the above game is Eagles 20, Dolphins 12, then everybody loses. The house wins all ties on single bets. However, if you bet a parlay, which is two or more teams together on one single bet, a tie gives you a ‘push’.
Example – You place a three-team parlay bet and take the Eagles -8, the Rams +3, and the Cowboys -10. Let’s say that should you win all 3 ames, the payoff is $30. In the scenario above, with the Eagles being a tie, you would get a ‘push’, which means that game would just be negated, like you never bet it. Now you have two teams left, but if they both win, you would not win $30 like before with 3 teams, but $20 as if you only bet a two-team parlay. You can bet parlays starting from two on up. But if two of your picks lose, you lose. I have hit a few five-teamers in my time.
In horseracing the betting can be really fun. There are too many to cover them all right now, but the basic bets are win, place, show, exactas, and trifectas.
The odds in horseracing are shown in fractions like 5/1. That means the odds are 5 to 1, meaning that if you bet ONE DOLLAR and win, you get paid back FIVE DOLLARS. If you bet TEN DOLLARS at 5 to 1, you get back $50, which is $5 for every $1 you put up.Some horse races have odds like 5/2, so you would only get $5 for every $2 you bet.
If you bet a horse ‘to win’, it must win the race by coming in first at the finish line. If you bet it to place, then it must run second or first. If you bet it to show, you get paid if it comes in either third, second, or first.
I always liked exactas. That is when you bet the first TWO horses across the finish line. You can select them in order for $2.
Example – If you like the 9-horse and the 4-horse to be the first two across the finish line, and you think the 9 will be first, and the 4 second, you can bet a $2 exacta on the 9-4. I always bet them backwards as well, betting both the 9-4 and the 4-9, just in case. That is two $2 bets, and will cost you $4 to play.
Betting is not so complicated once you get familiar with the terms. It is all logic and arithmetic. There is nothing like hitting a big one.