TodaysPicks.net Defines Football Odds For Newbies
Betting on football can be an enjoyable experience whether you are a casual fan or a serious bettor. However, if you’ve never placed a bet on football, you might find some of the terminology and numbers a bit confusing.
Picking winners is a hard enough task without having to worry about all the information you hear regarding point spreads, parlays, teasers and pleasers. Even so, there’s no need to worry. The basic terms and their meanings are easy to learn, and once you have them mastered, you can get down to the business of picking winners.
Here is a list of football betting definitions courtesy of TodaysPicks.net:
Bet: To place a wager on a football game. Jim bet the Chargers -7 against the Raiders.
Chalk: The favorite in any sporting event for which odds are posted. If the Chargers are a 7-point favorite against the Raiders, they are said to be the chalk in this game.
Dog: Slang term for underdog. Opposite of the favorite, this team is regarded by oddsmakers as unlikely to win a given sporting event.
Favorite: The team oddsmakers designate as likely to win a sporting event. The oddsmakers made the Chargers a 7-point favorite over the Raiders.
Future: A long-term bet regarding the outcome of a sporting event, made usually before the season starts. Frank won his Super Bowl future bet on the Steelers at 12-to-1.
Handicapper: Someone who uses advanced information and knowledge to pick the outcome of sporting events. Several handicappers specialize in football.
Hook: This is known as a half-point on a point spread. Mike liked the Raiders +10, but to be safe, he decided to buy the hook up to 10.5. This wager costs a bettor and extra 10 percent in juice, or vigorish.
Juice: The charge a sports book takes on each wager, usually 10 percent. Dave bet $110 to win $100 on the Cowboys -4 over the Eagles. He paid -110 in juice.
Key number: These are point spread numbers that commonly determine the outcome of the game for bettors. In football, spreads such as 3, 7 and 10 are considered key numbers. Fred liked getting 7.5 points with the Raiders because it put a key number in his favor.
Lay the points: To bet the favorite against the point spread. Billy decided to pick the Chargers and lay the 7 points against the Raiders.
Line: The listed point spread for any given sporting event. The football lines were released Monday morning, and Scott immediately spotted value in the Panthers -6 against the Falcons.
Middle: To place bets on both sides of a football game with different odds, offering the opportunity to win them both. Max bet the Vikings at -6.5 and found the Packers at +7.5, giving him a middle on 7.
Money line: The odds for a particular team to win a sporting event independent of the point spread. Doug figured he didn’t need the 4.5 points with the Browns; he bet the money line at +200. He wagered $100 and won $200, for a total return of $300.
Nevada: The only state in which betting on football is currently legal, though others, such as New Jersey and Delaware, may soon follow suit. Those who do not live in or visit Nevada must use offshore sports books to bet football.
Odds: The mathematical formula used to provide handicapping on football games and all sporting events. The Colts were assigned odds of 10-to-1 to win the Super Bowl.
Offshore betting: The term used for doing business with online sports books, many of which are located in Costa Rica or Antigua.
Parlay: A wager that involves the outcome of two or more contests. The gambler must get each pick correct to win. This is a very popular way to bet on football; Jim bet a parlay on the Rams +10 and the Patriots at -9. His $25 wager paid $65, for a total return of $90.
Play: The choice to bet on a particular team. After much deliberation, Dennis made a play on the Broncos -3 against the Jaguars.
Pleaser: A football bet offered at some sports books that moves the point spread against you but pays astronomical odds. For instance, if the Chargers are a 7-point favorite, they would be a 14-point favorite on a pleaser bet. Gamblers must usually get at least 3 games correct to win a pleaser. The odds for a 3-teamer usually are 26-to-1 or thereabouts, and 80-to-1 for a 4-teamer.
Point spread: The numerical handicapping method used to set odds for sporting events. If the Panthers are a 6-point favorite over the Redskins, they must win by 7 for gamblers who bet them to cash their tickets. Redskins bettors can win if Washington loses by fewer than 6 points or wins the game outright. A final margin of exactly 6 points is called a push, and all wagers are returned.
Proposition: A proposition or “prop” bet is one that involves betting on or against a specific circumstance in a sporting event. Mike placed a prop bet at odds of 100-to-1 that there would be no touchdowns in the Super Bowl.
Public bettor: Generally refers to a casual football fan who has little knowledge of sports betting. Public bettors tend to back favorites and popular teams without putting much thought into their picks. Sports books make much of their profits from public bettors during football season.
Round robin: A wager that involves the outcome of at least three sporting events; unlike a parlay, the bettor doesn’t have to get every pick correct in order to win this bet. A typical round robin might involve picking 5 teams against the spread; a bettor would have to get at least 2 games correct to win some money, and the reward is greater the more picks he gets correct.
Sharp: An advanced sports bettor, usually one who wagers large sums of money on sporting events on a regular basis.
Side: To bet on a particular team using team the point spread. John had a tough time deciding which side he liked against the spread, so he declined to bet.
Sportsbook: The betting parlor that posts odds and accepts wagers on football games.
Take the points: To bet the underdog against the point spread. Eric decided to pick the Cardinals and take the 7 points. He was glad he did when they lost by 6.
Teaser: A popular point-spread bet in football that alters the number in favor of the gambler, but pays lower odds. Todd didn’t like the Cardinals -7, so he bet them on a teaser at -1. He also took the Cowboys from +3 to +9 against the Steelers and won his two-team teaser.
Trend: A recurrence of similar outcomes for a specific team. After the Browns covered in three straight games, Larry decided to ride the trend.
Total: The over/under number posted for each game that represents the total points scored by both teams. If the posted total for the Chargers/Raiders game is 44, you can bet whether the points they score combined will go over or under 44.
Underdog: Opposite of the favorite, this team is designated as the one unlikely to win a given sporting event. It is assigned a number of points or a money line to entice bettors to take its side.
Vigorish: The fee a sports book charges on each bet (see juice).
Wager: To place a bet on a football game.
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