From this article onwards, we will introduce you to each of the common types of sports betting in detail to ensure that you can easily understand and enjoy participating in sports betting. Although there are many different types of sports betting, the rules are not complicated and if you take the time to learn the basics, you can get the key to getting started right away.
Learning the basics of sports betting can help you increase your odds of winning a bet and make more intelligent decisions.
Let’s start with the most common of the bet types, the moneyline bet.
Moneyline/Win Bet
It’s called a moneyline bet in the U.S. and a Win Bet outside the U.S. They mean the same thing, and what you call it depends on the city you’re living in.
Have you ever bet a few cents with your friends on which team will win in your life? Actually, this is a moneyline bet. moneyline bet is a bet on which team will win, and it has no relation to the exact number of points won. This means that the result of 0:100 and 0:1 is the same, and the latter wins.
In moneyline bet, the choice we have to make is which team will win and then bet on it. This is a type of betting that we can play with friends or family even if we don’t know the rules of betting.
Let’s assume team A and team B are playing. You place a moneyline bet on teamA, which means you think team A will win. Then there are two endings. If team A ends up winning the match, you will get a payout. It doesn’t matter how many points teamA wins, it has nothing to do with you.
If it is a tie or teamB wins, then you will lose your bet.
unevenly matched
In reality, the two teams participating in a tournament are often unevenly matched. Guessing the winner of a match is a relatively simple matter.
If we now know that teamA is ranked No. 1 in the world and teamB is ranked No. 97, which team do you think is likely to win the tournament? According to normal logic we think teamA will win. Do you think it’s fair to bet on teamA and teamB if the payout is the same for the final victory? In fact, such a setup would result in almost everyone wanting to bet on team A. Is it possible for the bookmaker to make money in a match of this magnitude?
In order to ensure their own interests as well as to increase the excitement of the bet, the bookies will set different odds depending on the participants. Depending on who you bet on, you get different payouts when you win. This depends on how favorite the two teams are.
In order to ensure their own interests as well as to increase the excitement of the bet, the bookies will set different odds depending on the participants. Depending on who you bet on, you get different payouts when you win.
The more underdog the team, the more bets you win.
The bigger the team is, the less bets you win
The betting company calculates the probability of the two teams winning and sets different odds, which determine the amount you will win and are made public before the match. The team’s favorites/underdogs are indicated with a plus or minus sign.
The betting company calculates the probability of the two teams winning and sets different odds, which determine the amount you will win and are made public before the match. The team’s favorites/underdogs are indicated with a plus or minus sign.
A team’s name preceded by ” ➕ ” means that the team is at a disadvantage.
A team’s name preceded by “➖” to indicate their favorites.
A number after the plus and minus sign indicates the level. The larger the number, the more underdog/favorite it is. It is called line or point spread .
Let’s take a look at the live data collected from the bookies’ websites.
Based on these data we know that Malmo, Sheriff Tiraspol, and Fola are the favorites. sheriff Tiraspol is the biggest favorite and Fola is the small favorite.
Now we are already in the position of knowing that the payout when we win is related to LINE. So how do we work out how much money we can actually win?
Let’s start by looking at how we can calculate how much we will win when we bet on the favorite.
First of all, it is easy to understand that when we bet on the favorites, we get paid less because the chances of winning are higher.
Betting on favorites
The favorite is represented by a minus sign, and the number that follows the minus sign indicates how much we would have to bet if we wanted to win $100.
If we wanted to win $100 we would have to.
Bet $292 on Malmo.
or $410 on Sheriff Tiraspol.
or $108 on Fola.
To get the same payout, the bigger the favorite, the more money we have to bet. But that doesn’t mean we have to do the math in $100 increments. In fact, as long as we figure out how much we’ll get paid for a dollar when we win, we can bet the amount we like.
The way to do is to divide 100 by the number behind the money line.
Take Sheriff Tiraspol as an example.
100➗410≈0.24
This means that betting $1 on Sheriff Tiraspol will result in a profit of $0.24 on a win.
Also, it doesn’t matter if you are backing a favorite or a loser, when you win, the bookmaker will give you back your original principal.(Otherwise this is clearly a losing deal)
So, when you bet $5 on Sheriff Tiraspol, you end up with：
$5 + $5 ✖️ 0.24 = $6.20
Betting on the underdogs
Maybe you want to take a shot at betting on the loser? Next let’s take a look at how we can go about counting our winning profits when the team we’re betting on is at a disadvantage. In fact it’s even simpler.
Maybe you want to take a shot at betting on the loser? Next let’s take a look at how we can calculate our winning profit when the team we bet on is at a disadvantage. In fact it’s even simpler.
The underdog is indicated by a “+” in the moneyline, followed by a number that indicates how much profit we’ll make on a win when we bet a hundred dollars.
Let’s use Teuta Durres as an example.
If we bet $100 on Teuta Durres, then I will get a $900 bonus! This sounds tempting but it also means that the bookies consider Teuta Durres win to be a small probability.
But that doesn’t mean you can only bet in $100 increments. The premise is that we calculate how much a $1 bet will pay out.The way to do this is to use the number in the loser’s moneyline ➗ 100.
900$➗100$ = 9$
That means we bet $1 on Teuta Durres to get $9; betting $5 to get $45.
Summary
In short, our profits are tied to the moneyline numbers. When we choose to bet on the favorite team, the number after the minus sign indicates how much money we can win for every $100 we bet. The number after the plus sign for the underdog indicates how much we need to bet to win $100.
In this article, the moneyline bet odds we have been using are integer format, also known as American odds format. this odds format is commonly used by bookmakers on many sites. There are two other common formats for odds, which are fractional odds and fractional odds. If you are interested in this, you can click on the link below to learn more about it.
