Editorial: GamblingPlanet guide to online sports betting

For players who are not familiar with betting on sports, this guide will help you learn both the terminology and the mechanics that go into online sports betting. This guide will also explore some facets of sports gambling strategy, examining which bets are best for the player and which ones allow the house to take a bigger slice of the gaming pie.

Online Sports Betting: Point Spread

For high-scoring games such as American football or basketball, online sports books create a "point spread". For instance, in Super Bowl XLIV, the Indianapolis Colts were a five-point favorite over the New Orleans Saints. If a player bet on the favored Colts, the Colts would have had to win by more than five points for the bet to pay off. If a player bet on the Saints, they could still have won the bet even if the Colts won the game by less than five points.

The point spreads you may see on websites for sports betting are not meant to be a predictor of the final outcome. Rather, point spreads are intended to make sure that players make enough internet sports bets on both teams to insure that each side has an equal amount of money riding on the outcome. If the amount of money on one side of the bet is much larger than the other, the point spread will shift accordingly.

Over/Under

While the point spread signifies the difference between the teams, the "total" shows how much both teams can score. For example, in an NBA game between the Los Angeles Lakers and the Dallas Mavericks, an online sports betting site has posted a total of 195 points. If a player thinks that the combined points for both teams will be over that number, he will make an "over" bet. If he thinks it will be lower, he will bet the "under".

Money Line

One of the most popular internet sports bets is the "money line" bet. The money line bet is more of a "straight up" bet and doesn't require the calculations of the point spread and over/under bets. The closer each of these numbers are to each other, the tighter the online sports books expect the match to be. This type of betting is also popular in individual sports like tennis, boxing or mixed martial arts fighting.

The favored team typically has a minus (-) sign in front of their money line number. This number signifies the amount a player betting on sports would need to bet on that team in order to win US$100. The "underdog" team usually has a plus sign (+) in front of their number. This number shows the amount a player can win by betting $100 on that team.

Example: UFC 111:
Dan Hardy +525
Georges St. Pierre -750

If the player bets on Hardy and he wins the fight, the player gets $525 for every $100 he bets, returning $625. If the player bets on St. Pierre and he wins the fight, the player gets $100 for every $750 he bet, returning $850.

Some players use a sports gambling strategy that risks a little money for a big payoff by betting the "underdog". Other players who make internet sports bets stick to betting the favorites, taking the smaller return for the smaller risk.

Parlays

Another way to get a big payoff for a small bet is to bet "parlays". Instead of betting on individual point-spread games, players can place one bet on multiple games. If they win every bet, the online sports books give them a payout greater than they would on each bet separately.

The downside to this sports gambling strategy is the huge house advantage. For some five-team and six-team parlay bets, the house edge can be between twenty and fifty percent! This means that the websites for sports betting can take up to half of each bet made, whether it pays or not!

Teasers

Some online sports books offer "teaser bets", which reduce the point spread for certain games, but also reduces the payout rate. A player makes a teaser bet on the Pittsburgh Steelers vs. the Arizona Cardinals that reduces the favored Steelers' point spread from ten points down to three points. If the Steelers win by more than three points, the player wins the bet, but at less than even money.

Futures

Any player who makes internet sports bets is trying to predict the future, but "futures" bets take that premise to another level. Before the season or tournament starts, the websites for sports betting list odds on each team winning the championship.

One example is that Spain is listed as the favorite for the 2010 FIFA World Cup at 9 to 2 odds, while the USA is listed at 50 to 1. If a player bets $100 on the USA to win the World Cup, and the Americans pull off the upset of this (or any other) millennium, the player wins $5000.

The Juice

If the online sports betting sites want equal money on both sides, how do they make a profit? The answer is that they charge a commission on each bet, usually ten percent of the bet amount. This commission is also called "the vigorish" or "the juice". Online sports books use the "juice" to pay for their expenses and to cover any losses if big bets on an underdog win.

Conclusion

Simply put, betting on sports is not as mindless as slot machines, keno or some other casino games. Success at online sports betting requires knowledge of sports, an intelligent sports gambling strategy and a bankroll that can survive when the ball bounces the other way. For true sports fans, sports betting can be a fun way to make money while watching your favorite games.

Discuss this article below or on our Facebook Fan page.