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Can Someone Explain to Me How Sports Betting Works? : sports
I am looking to get into sports betting, but don't get it much/never have bothered to learn.
I understand basics like spreads but what does it mean to go + or - on the spread?
Or take those points/cover the spread?
Also what about parlay bets and how they play into this?
Also what about odds such as 5-1 or 5-2 or something where, say you bet $5 on a 5-2 bet?
If you could provide some examples (possibly real life sports), I can probably understand better.
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The bodog site has some good help on getting the terms right http://www.bodog.com/bodog-help/sportsbook/wager-types/parlay.html
Simple examples.
Horse is predicted to win at 5-2 odds.
That means if you bet $2, you get $5.
Padres are +120.
That means that if you bet $100, you get $120.
Phillies are -120.
That means if you bet $120, you win $100.
Parlays are like combos in video games.
There are like multipliers that each betting place has set up.
The more you parlay, the higher the multiplier, but you gotta hit them all or you are out.
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Each sport works differently.
So, it's a lot easier to learn how one sport works first and then go from there.
Here's the basics for American football.
Point spreads are fairly straightforward.
If you bet a team with a point spread of +7, you win the bet if they win the game or if they lose by 6 points or less.
You tie if they lose by 7 and lose your bet if they lose by 8 or more.
If a team is -7, they must win by 8 or more points for you to win the bet and you will tie if they win by 7.
You will usually see -105 or -110 on point spread bets.
That's how the bookie makes their money.
You will need to bet $105 or $110 to win $100 (or bet $10.5 to win $10, etc.).
Money line bets are even more straightforward.
You bet on a team, if they win the game you win your bet.
If they tie, it's a push and if they lose you lose.
You will see odds like +300 or -450 for the moneyline.
If you bet $100 on a team that is +300, you will win $300 if they win their game.
If you bet $100 on a team that is -450, you will stand to win $22.22.
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