Sports betting have become a major hub where billions of dollars are earned and lost each day. And with the number of people resorting to betting increasing each day, understanding the minute details of the rules of sports betting has become very important.
Betting Process
Baseball and sports events related to it are handled a bit differently than hockey, basketball and football. Most odds makers don’t have a set point spread for baseball related games. Rather, they set the money line.
Money line offers the odds of one team beating the other. For either side on a money line bet, the money line total varies substantially. It includes the positive side (also known as the underdog) and the negative side (the favorite).
For instance, LA + 150 and Seattle – 170 means that Dallas are the favorites. And for every $170 bet on underdogs – Washington, you win $100. And for every $100 bet on the underdog Washington, you win $150.
Balancing Act
By providing different odds to each team the sports book positions itself such that it does the balancing act between both the teams.
Let’s now look at another instance. The Chicago cubs may be favored over the Atlanta Braves by 150. So, the bettor has to lay $150 to win $100. If Chicago wins the game, no point spread is involved. And if Chicago loses, the bettor loses $150.
Nevertheless, the bettor may bet on Atlanta, in which the participant would lay $100 to win $150 in case Atlanta gets to win the game. And if it loses, the bettor gets to lose only $100, as Atlanta is the underdog.
Sports betting rules are simple. However, it depends on how you place your bet and how correctly you predict the winner.
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