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Sports Betting Tips
Introduction to Sports Betting
So, you've decided to join millions of people and
enter the world of online sports betting, but you have no idea what you're
doing. It's OK, everyone starts somewhere and all it takes is a few simple
tips to get you off and running.
The first topic we will cover here today is straight bets vs. parlay bets.
While there are many other betting techniques offered at online sport
books, these are the most common, so we will focus on these for now. The
concept here is a simple one: if you want to wager on one specific game,
then you will make a straight bet; whereas if you want to bet on several
games, then you will combine them into a parlay bet.
The straight bet is fairly straightforward. You are betting on the outcome
of one specific game. For example: you think the New York Yankees will beat
the Boston Red Sox, so you login to your sport book account and place your
bet. Most books accept bets ranging from one dollar to thousands of dollars,
so the amount you want to wager is up to you.
The parlay bet offers larger payouts than the straight bet, however you have
to get all your selections correct in order for the wager to pay you. For
example: you like the Yankees, Dodgers and Phillies all to win. You log into
your sport book account and add all three outcomes to your parlay ticket.
The odds for each game are multiplied together to produce your potential
payout (ie: $6 paid for every $1 wagered), which makes these types of bets
potentially very lucrative, but again--all your selections have to be
correct in order to win.
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Now that you know the difference between the two most common forms of
betting online, it's time to expand this knowledge and see how it applies to
the two main betting options in sporting matches: the Money Line and the
Money Line and Odds Explained
Simply put, betting a team on the Money Line means you're betting on them to
win the game. This is pretty straight-forward, but it's important to
remember that not all matchups are even. For example, when the Los Angeles
Lakers play the New York Nets, one team is clearly better than the other
one. What happens here is: the Lakers are listed as the favorites and Nets
as the underdogs, and they are assigned a "price" by the sports book. What
you will see is something like: Lakers, -400 Nets, +300. The numbers next to
each team represent their price. In this example, for you to win $100
betting on the Lakers to win the game, you would have to wager $400, while
$100 wagered on the Nets would return $300 in profit. Not exactly the ideal
situation if you don't have a large bankroll, right? This is where a parlay
becomes useful--you can add another big favorite or two to this ticket and
your odds will become considerably better, which means you wouldn't have to
"lay" as much money to win. In gambling terms, this is called "juice".
OK, so still want to bet on the Lakers to beat the Nets, but you don't want
to lay that much juice and you don't want to parlay it with another game,
what do you do? Well, you can bet on the Lakers to cover what we call the
Spread. Sports Books know that the Lakers are a better team, so what they
try to do is determine HOW much better they are, in terms of points. For
example, lets say the sports books think the Lakers are 7.5 points better
than the Nets, so they would display the spread as follows: Lakers, -7.5
Nets, +7.5 In this case, if you bet on the Lakers to "cover" the spread,
they would have to win by more than 7.5 points. Conversely, if you wanted to
bet on the Nets, they can either win the game outright, or they can lose by
less than 7.5 points for you to win your bet. And much like Money Line
betting, you can always parlay two or more games into a single ticket to
increase your potential winnings. If you feel like sports betting is
something you could be successful at, then take the time to read some more
of our sports betting tips articles. Knowledge is power.
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