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All-TigerNet [10214]
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Can someone give me the "dummy" lesson on
Sep 27, 2015, 6:40 PM
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how the odds and favored works from Vegas....Not sure what the -3 or +3 means for example. The pick em means Vegas does not want to touch the game??? Can that change between now and game time?
TIA
Suck it Notre Dame....
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110%er [5249]
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My Limited knowledge
Sep 27, 2015, 6:44 PM
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A team that has -3 means they are a 3 pt favorite. I assume this means the same thing as the opposing team having +3, or 'if you gave this team 3 more points, they'd be equal).
Correct me if wrong, but I believe that's correct. I'm also not sure how long betting lines are open, perhaps until kickoff, but they can definitely change during the week
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All-TigerNet [10905]
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Most people don't seem to understand how the betting line
Sep 27, 2015, 7:07 PM
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works. The bookies don't favor one team over another. The sole purpose of the "spread" is to try and get an equal amount of money bet on each team. The line only moves if there is more being but on one team than the other, then it will move in one direction or the other, trying to always keep the amount bet on each team equal, because the bookies make their money on the commission they keep on each bet, regardless of which team you bet on.
Bookies aren't really gamblers, they are statisticians. If they get an equal amount bet on each team, they aren't gambling anything, just guaranteed to keep 10% of every dollar wagered.
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Orange Blooded [4299]
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Re: Can someone give me the "dummy" lesson on
Sep 27, 2015, 9:48 PM
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The current straight betting line is Clemson -2. This means you have to subtract two points from Clemson's final score to determine the winner of the wager. If the score is CU 31, ND 28, then the Clemson side of the wager wins, because 31-2=29 > 28. For this game, you can bet Clemson-2 or Notre Dame+2. Bookies usually take an additional 5-10% on losing wagers. This is called the "vig" or the "juice". This is where they really make their money (without risk). For example, if you added up all the wagers and $100,000 was bet on Clemson and $100,000 for bet on ND, then the bookies would make about $10K no matter who won.
What I just described is called a "straight" bet. The "spread" is two points. Clemson is the "favorite" and Notre Dame is the "underdog". The "odds" on this line (for most bookies) is -110. This means that you risk $110 to win $100.
Some books also put out a "money line". This is just a wager on who will win the game outright, without any points involved. This bet has different "odds" depending on which team you bet on. For example, the money line for Clemson may be something like -180 and ND like +140. This means that if you bet that Clemson will win, you risk $180 to win $100. Otherwise, if you bet ND to win, you risk $100 to win $140. (I haven't seen the actual money line on this game yet so these numbers are just for example.).
Bookies will change the spread or odds as bets start to come in. If bets are lopsided, and movement in the line may entice betting on the other side.
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Orange Blooded [4299]
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Re: Can someone give me the "dummy" lesson on
Sep 27, 2015, 9:54 PM
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Oh, a pick or "pick-em" means that the point spread is zero. You can simply bet on either team without points.
Sometime tomorrow, the "over/under" line will come out. This is a point total for the game (both teams added together). You can bet that the actual total will be less (under) or more (over) than the stated number. The odds on over/under bets are usually -120, meaning you risk $120 to win $100.
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All-TigerNet [10214]
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