NBA Point Spread Betting
Fractional and Hong Kong odds are actually exchangeable. The only difference is that the UK odds are presented as a fractional notation e. Both exhibit the net return. The European odds also represent the potential winnings net returns , but in addition they factor in the stake e.
Favoured in continental Europe , Australia , New Zealand and Canada , decimal odds quote the ratio of the payout amount, including the original stake, to the stake itself. This 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 favoured by betting exchanges because they are the easiest to work with for trading, as they reflect the inverse of the probability of an outcome.
Decimal odds are also known as European odds , digital odds or continental odds. Moneyline odds are favoured by American bookmakers. The figure quoted is either positive or negative.
Moneyline odds are often referred to as American odds. A "moneyline" wager refers to odds on the straight-up outcome of a game with no consideration to a point spread. In most cases, the favorite will have negative moneyline odds less payoff for a safer bet and the underdog will have positive moneyline odds more payoff for a risky bet. However, if the teams are evenly matched, both teams can have a negative line at the same time e.
The book price is effectively a measure of the competitiveness of the odds prices on offer. In gambling, the odds on display do not represent the true chances as imagined by the bookmaker that the event will or will not occur, but are the amount that the bookmaker will pay out on a winning bet, together with the required stake. In formulating the odds to display the bookmaker will have included a profit margin which effectively means that the payout to a successful bettor is less than that represented by the true chance of the event occurring.
This profit is known as the 'over-round' on the 'book' the 'book' refers to the old-fashioned ledger in which wagers were recorded, and is the derivation of the term 'bookmaker' and relates to the sum of the 'odds' in the following way:.
The true odds against winning for each of the three horses are , and respectively. This represents the odds against each, which are , and , in order. This value of 30 represents the amount of profit for the bookmaker if he gets bets in good proportions on each of the horses.
And the expected value of his profit is positive even if everybody bets on the same horse. The art of bookmaking is in setting the odds low enough so as to have a positive expected value of profit while keeping the odds high enough to attract customers, and at the same time attracting enough bets for each outcome to reduce his risk exposure. A study on soccer betting found that the probability for the home team to win was generally about 3. It was about 3. Making a profit in gambling involves predicting the relationship of the true probabilities to the payout odds.
Sports information services are often used by professional and semi-professional sports bettors to help achieve this goal. The odds or amounts the bookmaker will pay are determined by the total amount that has been bet on all of the possible events.
They reflect the balance of wagers on either side of the event, and include the deduction of a bookmaker's brokerage fee "vig" or vigorish. From Wikipedia, the free encyclopedia. This article is about the gambling and statistical term. For the alternative rock band, see Odds band.
For playing chess with odds, i. For the documentary film, see The Odds Against. This article may be too technical for most readers to understand.
Please help improve it to make it understandable to non-experts , without removing the technical details. March Learn how and when to remove this template message. This section does not cite any sources. Please help improve this section by adding citations to reliable sources. Unsourced material may be challenged and removed.
May Learn how and when to remove this template message. Journal of Statistics Education. Retrieved 11 July Archived from the original on Jul 14, Retrieved 1 May The Science of Conjecture: Evidence and Probability Before Pascal. The Johns Hopkins University Press. Retrieved 16 May Bayesian Data Analysis 2nd ed. Retrieved 27 March Archived from the original on Retrieved 10 December Expected Values and variance in bookmaker payouts: Sports Illustrated treats this information with care and respect.
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Email Address Enter valid email address Password. Email Address Enter valid email address. Zip Code Please enter zip code or country for newsletter signup. Password Must be at least 6 characters and contain a number and an uppercase and lowercase letter. Known as the line or spread, it is not the predicted margin of victory for one team, rather a number chosen by Las Vegas and overseas oddsmakers that will encourage an equal number of people to wager on the underdog as on the favorite.
The negative value Betting on the favorite means the team must win by at least 8 points to cover the point spread. The underdog team can lose by 7 points and still cover the spread.
You will also notice a moneyline value associated with the point spread such as This indicates how much you must risk in order to place the bet also known as the vig or juice. Typically used in baseball and hockey, basketball moneylines are popular in Las Vegas for picking underdogs.
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