We all know the story of the man who placed a bet on the underdog Superbowl team and won thousands of dollars. Or the friend of a friend that knows someone who can help you get a Filipino cockfight next weekend.
It’s safe to assume that you are a sports fan and know that legal and illegal betting takes place at almost every professional and college game.
Placing a bet is not easy. Sports books have their own language and systems. It is a different matter to figure out how to place a bet that will make you money. How are the odds calculated? Who decides the line? How much time must you win to break even?
This article will help you to understand the terminology of betting and how you can make a lot of money from it.
Sports betting basics
Different sports have different betting and oddsmaking systems. Different systems can be used for different sports depending on the type of game being played. To understand these systems, however, you must first understand the terminology.
Action – Simply betting is what it is. This term is the source of phrases like “I want to be part of the action” and “Show me the action”. Because betting on sports is illegal in many countries, it’s not possible to always find the local bookie by phone.
Handicap – In sports betting, “to handicap” means to give one team an advantage to level the playing field.
Sportsbook – A place that accepts bets. Also known as a book. A bookie is someone who bets.
The percentage of all the bets that the bookie takes as profit is called the juice. The juice, also called the vig (short for vigorish), is also known. Bookies may take a percentage of the handle at times, but more often the odds include the vig.
Handle – This is the amount of money that was wagered on bets. Super Bowl betting is the most lucrative bet of the year.
Spread – This is used in high-scoring games like basketball and football. This is basically a handicap that bettors use to make all games more competitive. Spread gives one team an advantage by a few points. The standard notation for the spread shows the favored team as the first, then a negative number (the actual spread). Capital letters are used to indicate the home team.
If you do it right, you can place sports bets on any sport, including football, soccer and baseball. You’re in the right place if you ever thought about placing a bet but were unsure if it was worth the risk. Gambling is a game that requires someone to win and someone to lose. Imagine if there was a way you could tip the balance to win with every bet you place.
These systems have been proven to increase your chances of winning in sports betting. These systems were created by professional handicappers and bettors in order to help amateur bettors learn the tricks and trades they use to win at sports betting.
A system that combines a number of events to create a winning betting scenario is called a sports betting system. Because sports betting involves people, there is no deterministic advantage to either the house or the bettors. Systems give the house and the gambler an advantage.