Generally speaking, if you type into Google “online sportsbooks” the first few options have the most hits, and are reliable. It’s much easier to calculate the implied probability for decimal odds. If the Jacksonville Jaguars have 1.31 odds, we will divide 100 by 1.31. On the other side, the Houston Texans have 3.65 odds, giving them a 27% chance. A listed odd with a – sign in front of it, such as the -140 in our example above, shows us how much money you would need to wager to win $100.
Point spreads are adjusted for team ability and many other factors. That’s why the Colts are an 8-point favorite on the road against the lowly Texans, while the Eagles are a smaller favorite on the road against the Lions. Find the best sites to bet and links to our NFL betting analysis. Sign up for free to receive exclusive access to winning picks.
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How Does Sports Betting Work in Massachusetts?
Nevertheless, the various sports bets do have intricacies and differ from each other in certain ways. For example, a point spread is going to work differently than a futures bet. Assuming you’re interested in multiple wager types, then you’ll certainly want to know these differences before you bet. Sportsbooks require you to place a minimum bet to participate. If a bookmaker’s minimum wager is $10, for example, then you’ll need to bet at least this much. Online sports betting sites and brick-and-mortar sportsbooks also have maximum wagers too.
What is Hedging a Bet? How Hedging Bets Reduces Risk
Offers can be great for any new bettor, especially those who are learning how to bet. Many of them will let you place a bet and if you lose, you get your money back.
Massachusetts Sports Betting Tips
Proposition bets (a.k.a. props) involve outcomes beyond the game winner or final score. They’re particularly popular for big contests, such as the Super Bowl or NCAA Basketball National Championship. Point spreads help to balance out the odds of each team winning. When people bet on point spreads, they usually talk about (+3.5), (-7.5), (+4), etc. This is how many points are added or subtracted from a team’s final score.
It will be no surprise at all if your first bet is on moneyline odds. This is the simplest way to place a sports wager; you just decide which team is going to win, and bet accordingly. Let’s say the Boston Red Sox are the moneyline favorites for their next MLB game; their odds will come with a minus sign. If they are -140 to win outright, you would need to stake $140 to win $100. If they are the underdog at +130, you earn $130 for every $100 you wager. It doesn’t get more popular in the United States than the NFL, which owns Sundays and Monday nights in the fall and winter.
Prop bets, or “proposition bets,” can be on literally just about anything. Betting odds handicap each team and help distribute betting action more evenly. If the line is Detroit -165 vs Chicago +130, the favorite Detroit requires a $165 bet to win $100. The underdog Chicago, meanwhile, only requires a $130 wager to win $100.
Sometimes, the combined scores will land right on the total. In our example, if the score ended up being something like 34-32, then the combined score would be 66, exactly the predicted total. In these cases, no one wins the bet, and you would simply get your money back.
The weekend before your sport begins is usually the best time to host a player draft. This is where you will all get together, write down all the players in your sport on one big board, and slowly draft them over the course of a few hours. You will want to bring a computer or smartphone with you, as you will need to use a hosting site to choose the best available players.