NY sports betting is a case of when and not if, of that there is little doubt. But do you know how to go about wagering on your favourite sports team? The following are the different betting markets you’ll come across in your preferred sport.
A great wager to start with for its simplicity. All you need to do is call the winner of a game. The odds offered represent the team’s chance of winning, set by the bookie who will take into account form, team selection issues (injuries, suspensions) and are presented with a monetary value and either a positive or minus preceding it.
The team with a minus value are the favourites to win, the number indicating how much someone needs to wager in order to win $100. Naturally, backing the favourite will require you to stake more money for a significant profit.
The other team with its positive value, are the underdogs and not expected to win. Here, the odds indicate how much you can win from every $100 wagered. The lower probability of the underdog winning leaves high odds and means you needn’t stake as much for a favourable return.
Best for: NBA, NFL, MLB, NHL
Similar to a Money Line bet in the sense you pick one of the two sides to come out on top. But this time, instead of picking an outright winner, you call the margin of victory. Games in which there is a huge gulf in talent between two teams often bring little value, making the money line too obvious and not worth playing. The point spread, a line set by the bookmaker, brings more value to said game.
As with the Money Line, the team assigned the negative value indicates who is expected to win. For example, let’s say Team A +22.5 and Team B - 22.5 points have the following point spreads (the .5 differentiates clearly between 22 points and 23 points).
If you bet on Team B, you require a winning margin of 23 points or more, to win the wager. A losing margin of 22 points or less, or a win, is needed for Team A to win the bet. This type of wager ensures the playing field is levelled out and brings value to a game that otherwise wouldn’t be there.
Best for: NFL, NBA,
This wager comes away from the scenario of betting on a winner entirely to focus on the combined score of both teams and whether it falls Over or Under a set line.
If the line is 66 points for instance, and you feel the game’s score will equate to a total that exceeds 66, then you’d bet Over (the line).
If you think the sides involved may err on the side of caution and play out a more defensive affair resulting in a combined score of less than 66, then you would bet Under.
Best for: NFL, NBA, NHL, MLB
This kind of bet sees you lay money on the final outcome of an event and tends to be played well in advance of it starting, with the view to winning a substantial amount should your prediction come right.
Typically, the market which yields the most interest is the winner of a league championship or tournament. But you can also bet on teams to finish in the play offs, end up being demoted or even the two teams to make the Superbowl final.
Futures can be applied to almost any competition across all of the major leagues and have been known to produce sizeable sums come the season’s end. Just make sure you don’t lose your bet slip in between!