Sports betting are actually one of the many forms of gambling. Like the common casino games, sports betting draw the same principles. Analyze, choose, place bet and wait for outcome. Sports betting are popularized in every country in the world although in some country it is deemed as illegal but this does not slow down the popularity and involvement in sports betting.
Easy as it sounds, however, placing a bet can be a complicated matter – different sports have their own system and odds. Do not understand what that means? Well, I will first explain the Jargons commonly used in sports betting industry.
Handle – Refers to the total amount of money placed on bets
Sportsbook – Refers to organization that takes bets, commonly known as book. The individual who takes the bets is called bookie.
Handicap – In sports betting, this refers to giving a single team points advantage to level the betting field.
The spread – Only used in high scoring sports like football and basketball, also known as handicap; used to make a game competitive in the bettor’s eye. The spread is actually giving one team a few points advantage.
The money line – In sports where score is not high enough to use a point spread such as baseball, the money line is used. A money line is simply stating the price of a bet to win a dollar. Example:
TEAM A -1.30; TEAM B +1.10
The scenario is like this, TEAM A won and you placed $130 bet on TEAM A, this is how it is calculated: [$130/$1.30] = $100 [Your winnings]
If TEAM B wins, and you bet on TEAM B is $130, this is how it is calculated: [$130 x $1.10] = $143 [Your winnings]
Pick’em – Some money line games will be listed as pick’em. This means that teams are considered equal. If the line is -1.20, then both teams requires $1.20 to win $1.
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