An explanation of odds

negaDuck · 09-01-2006, 04:41 AM

Quote:

ODDS EXPLANATION

Tha point spread - also called "tha line" or "tha spread" - is used as a margin to handicap tha favorite team. For betting purposes, tha oddsmaker predicts that tha favored team will win by a certain number of points. This number of points is tha point spread. Tha favorite is always indicated by a minus sign (e.g. -5.5) and tha underdog by a plus sign (e.g.+5.5). If you bet on tha favorite, you win your bet if tha favorite wins AND their margin of victory is greater than tha point spread. If you bet on tha underdog, you win if tha underdog wins, ties, or if tha favored team wins but fails to exceed tha point spread.

Quote:

American bookmakers generally use moneylines, which are quoted in terms of tha amount required to win $100 on a favorite, or tha amount paid for a $100 bet on an underdog. Tha amount "won" in a bet is tha net amount over and above tha initial bet. If a person wins $200 on a bet of $100, the bookmaker actually pays tha winner $300 (i.e. $200 plus the initial bet of $100).

For example, a baseball game between tha St. Louis Cardinals and Chicago Cubs might have a moneyline on St. Louis (tha favorite) at -200 and Chicago (tha underdog) at +180. A bettor looking to take St. Louis must risk $200 for every $100 he wishes to win over and above tha initial $200 bet. A person wagering on Chicago will win $180 for every $100 he bets.

Unlike point spread bets, a moneyline wager requires only that tha team wagered upon win tha match. In sports such as baseball, where certain teams can be heavy favorites against weaker opponents (sometimes as much as -350 or higher), tha moneyline system requires that a hefty sum be risked on tha favorite, while enticing underdog players with a higher payout.

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Historically, sports betting has been associated with a number of unsavory characters, which has a lot to do with its desultory legal treatment throughout tha world. Organized crime notoriously has relied upon sports betting for money laundering or funding purposes. Tha corruption or threat of a boxer to take a dive at tha x round is a frequent theme in mafia-related movies. All of tha American professional sports leagues, as well as tha National College Athletic Association (NCAA), take stringent measures to disassociate themselves from sports gambling. Nevertheless, sports history is riddled with several incidents of athletes conspiring with gamblers to fix tha outcomes of sporting events, or criminals acting against athletes whose on-field performance affected their wagers.

* In 1919, gamblers bribed several members of tha Chicago White Sox to throw tha World Series. This became known as tha Black Sox Scandal and was recounted in book and movie form as "Eight Men Out".

* In 1978, mobsters connected with tha New York Lucchese crime family, among them Henry Hill and Jimmy Conway, organized a point shaving scheme with key members of tha Boston College basketball team.

* Andrés Escobar, a Colombian defender, was murdered shortly after his return from tha 1994 FIFA World Cup, where he scored an "own goal", tha first of a 2-1 defeat to tha USA that knocked out tha Colombians at tha first phase. In tha most believed explanation, tha Medellín drug cartel bet large sums of money that Colombia would advance, and blamed tha Medellín-born Escobar for the loss.

* In 1994, a comprehensive point shaving scheme organized by campus bookmaker Benny Silman and involving players from tha Arizona State University men's basketball team was uncovered with tha assistance of Las Vegas bookmakers, who grew suspicious over repeated large wagers being made against Arizona State.

Hope that clears some of it up. For moneyline bets, i will be converting them into a 1/1 ratio...say -600 would look like 1/6, or bet 600 to win 100 (but with a heavy chance of winning). A +350 would end up being a 7/5, or bet 500 to win 700 (and you'd be betting on tha underdog there).

Any questions?

Higher Logic · 09-01-2006, 05:17 AM

Yeah, why is the not spelled right

I can't even read it because I stop on it everytime. Or is that like how "Tony the Bookie" talks

"I'll murdayah!"

Oh, and if you wrote that, good writeup. I'm sure the spread is confusing for some people, it's easy to see how a plus spread would seem like the favorite and a minus spread the underdog.

homemadebubbler · 09-01-2006, 05:44 AM

Woah, you just blew my mind man.

I'm still quite confused, so lets see if I can figure this out.

The Eagles are +6.5 and the Jets are -6.5
This means the jets are favoured to win?

So if the eagles win at all, I win the bet? Or do they need win by 7+ for me to win? Or am I just totally lost.....

Also, since it is 1/1, the payout is simply whatever I bet, correct?

**Hookahs** · 09-01-2006, 05:52 AM

If you bet on Eagles they need to stay within 6.5 points.
If you bet on Jets they have to win by 6.5 points. ( or more)

homemadebubbler · 09-01-2006, 05:57 AM

So just as long as the jets dont win by more then 6.5 points, I win? (being that I bet on the eagles).

Man, I'm totally new to sports betting.

negaDuck · 09-01-2006, 07:32 AM

Quote:

Originally Posted by Higher Logic

Yeah, why is thaa not spelled right

I can't even read it because I stop on it everytime. Or is that like how "Tony tha Bookie" talks

"I'll murdayah!"

Oh, and if you wrote that, good writeup. I'm sure tha spread is confusing for some people, it's easy to see how a plus spread would seem like tha favorite and a minus spread tha underdog.

I'll break ya thumbs.

and homemade bubbler, you are correct. As long as tha eagles don't lose by more than 6.5 then you get paid

imported_Capone · 09-02-2006, 01:54 AM

Where are you getting your lines from negaDuck? An official Vegas line/casino?

Also, for futures bets, will the lines be changing throughout the year? I hope so, considering the betting ends on 2-4-07 for the NFL. Will you be changing lines based on the activity of the bet or just staying with your own probable/bookie line?

negaDuck · 09-02-2006, 08:52 AM

Quote:

Originally Posted by Capone

Where are you getting your lines from negaDuck? An official Vegas line/casino?

There are several sites where I can get up to date odds on events coming up, Vegas being a main source. I will continue to use tha same site for NFL throughout tha entire season to maintain stability, and tha bet will stay 1/1.

For all other sports/events I am usually able to find a reputable site that is willing to post odds, moneyline and whatnot, all of which I will convert to ?/? to, again, maintain stability.

Hope this answers your questions, capone.

Oh, also, tha Vegas site I use for NFL lists three casino odds which are usually tha same. If they aren't then I choose tha MGM/Grand casino. If that casino hasn't posted odds, then I will use tha Bellagio.

conspiracy man · 09-07-2006, 03:43 AM

well i know some other sites that might help you out.

www.the-scoreboard.com
www.betus.com
www.wagerline.com

i dont know if they will help you or not but just to maybe make your life a little easier.

negaDuck · 09-18-2006, 03:29 PM

Quote:

Originally Posted by Capone

Also, for futures bets, will the lines be changing throughout the year? I hope so, considering the betting ends on 2-4-07 for the NFL. Will you be changing lines based on the activity of the bet or just staying with your own probable/bookie line?

Ahh, I don't know how I forgot to answer this one...

No. Future bets will stay up for (in most cases) a week. I don't think that it would be fair to change odds during tha bet due to tha fact that some people really put it on tha line for their favorite teams early on, and if those teams do well they should get that credit, rather than get paid off on something that has become a "sure thing". Tha NFL futures you were looking at stopped accepting bets a while ago...it's closed. Tha payout is in Feb, though

09-01-2006, 05:17 AM	#2
Higher Logic Web Developer Join Date: Feb 2003 Posts: 6,119 Grams: 8,693.53 Thanks: 2 Thanked 89 Times in 45 Posts Stock Portfolio Total Value: 0.000 Gain/Loss: 0.000%	Yeah, why is the not spelled right I can't even read it because I stop on it everytime. Or is that like how "Tony the Bookie" talks "I'll murdayah!" Oh, and if you wrote that, good writeup. I'm sure the spread is confusing for some people, it's easy to see how a plus spread would seem like the favorite and a minus spread the underdog. __________________ Crucial Web Hosting · Garden's Cure · Marijuana Recipes · Drug Testing Facts Dilution · Substitution · Urine Testing · Hair Testing · Drug Testing FAQ

09-01-2006, 05:44 AM	#3
homemadebubbler Always bubblin' Join Date: Jun 2005 Posts: 4,488 Grams: 303.01 Thanks: 556 Thanked 377 Times in 194 Posts Stock Portfolio Total Value: 0.000 Gain/Loss: 0.000%	Woah, you just blew my mind man. I'm still quite confused, so lets see if I can figure this out. The Eagles are +6.5 and the Jets are -6.5 This means the jets are favoured to win? So if the eagles win at all, I win the bet? Or do they need win by 7+ for me to win? Or am I just totally lost..... Also, since it is 1/1, the payout is simply whatever I bet, correct? __________________ When they took the 4th Amendment away I was quiet because I didnt deal drugs//When they took the 6th Amendment away I was quiet because Id never been arrested//When they took the 2nd Amendment away I was quiet because I didnt own a gun//Now they took the 1st Amendment and all I can do is be quiet...

09-01-2006, 05:52 AM	#4
Hookahs Mommy's Little Monster Tournaments Won: 12 Join Date: Nov 2004 Posts: 4,789 Grams: 235,066.76 Thanks: 1,536 Thanked 1,390 Times in 901 Posts Stock Portfolio Total Value: 0.000 Gain/Loss: 0.000%	If you bet on Eagles they need to stay within 6.5 points. If you bet on Jets they have to win by 6.5 points. ( or more) __________________ I smoke 2 joints in the morning, I smoke 2 joints at night. I smoke 2 joints in the, afternoon it makes me feel allright.I smoke 2 joints in time of peace and 2 in time of war.I smoke 2 joints before I smoke 2 joints then I smoke 2 more. Hard work good, hard work fine, but first take care of head. 420 Bookie Administrator Posting Guidelines 420 Lounge Fantasy Football League

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