FAQ’s

Money Management

If you want to succeed at sports betting you’ll need to follow some time-tested guidelines to make a profit possible, so take these 5 key principals to heart and you are on your way to avoiding the rookie mistakes that have plagued many a bankroll in the past.

1. Know how much to bet: One of the biggest errors that new sports bettors make is betting over their heads while in search of the quick payout and this is the easiest way to lose a big chunk of change in a fast amount of time. It’s extremely easy to bet $100 of your $500 deposit in one fell swoop but it’s not a realistic way to make any money in this business and most will eventually go bankrupt if strong money management skills are not added to the equation.
Generally, a bettor should bet in between 1-5% of their starting bankroll with 2.5% being the most common advice from professionals at the time of this writing. If you only have $100 in your bankroll, you’ll only want to be betting $2.50 a bet. For a $1000 starting bankroll, go to $25. As you gain money you can increase the bet sizes to match your new starting bankroll and you’ll safely and intelligently increase your money over time.

2. Know when to bet: Right up there in the “issues that spell doom for bettors” category is trying to rebound from a losing day with late bets that you would not usually make, just for the sake of covering the earlier losses. In the sports betting industry this is commonly referred to as “chasing” and is another great way to separate yourself from your hard earned money.
“Chasing” seems like a great way to make back the money you lost but there are a few things that should make you think otherwise. First of all, people who “chase” generally increase the amount of their bets well beyond the 1-5% total we mentioned earlier. Second, the games that are bet usually would not be plays in the first place. Either a bet is a good bet or it isn’t and putting a ton of money on a bet just to try to make your money back when the bet could go either way is a fast path to losing your bankroll.

3. Play more games: After just telling you not to “chase”, you are probably asking yourself, “why this is on the list?” Maybe “Play more good games” would be better ways to phrase the category, as you should only play games that you think have a good chance at winning, but you don’t need to feel like you only have to limit your plays to a certain amount per week. For someone who bets $100 a game, going 6-4 has a nicer winning percentage than 21-17 (60% to 55.2%) but the bettor who bet more games actually won $230 while the one with the higher winning percentage only has $160 of profit to show. You need to limit yourself, but don’t go to the extreme with being selective.

4. Know what to bet: As fun as it is to bet on things like props, teasers, pleasers, and parlays at your favorite online sportsbooks, you also need to consider that these “special” bets are only there because the sportsbook wants them to be. If your sportsbook didn’t have an edge on you with these bets they wouldn’t be offered so try to avoid them at all costs. Like eating sugar, sometimes the things that seem greatest in life can also be bad for you so try and stick mainly to point spreads and totals when deciding on your plays and you’ll be much happier (and wealthier).

5. Treat this like it’s your business: Pretty simple, right? You should treat sports betting like a business because it is like a business if you do it right. There is money to be made in this industry and whether or not you follow these 5 important steps will go a long way toward whether you are the one making it or the one who gives your money to the sportsbook to pay the winners. You need to manage your money wisely and be smart with it or it’s going to not be yours anymore. Sound money management and smart bets are the recipe for success in this field and success can be achieved if you remain strict.

You now have all the tools you need to succeed at sports betting and best of luck to anyone fortunate enough to read this article so they know the rookie mistakes to avoid.

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Sports Betting

Is the general activity of predicting sports results by making a wager on the outcome of a sporting event. Perhaps more so than other forms of gambling, the legality and general acceptance of sports betting varies from nation to nation. In the United States, the Professional and Amateur Sports Protection Act of 1992 makes it illegal to operate a "betting, gambling or wagering scheme", except for in the states of Delaware, Nevada, Montana and Oregon. Nevada and Delaware, however, are the only states currently allowing sports gambling. In many European nations bookmaking (the profession of accepting sports wagers) is highly regulated but not criminalized. The NCAA has threatened to ban all playoff games in Delaware if the state allows betting on college sports. New Jersey, which is also interested, has been similarly threatened. Proponents of legalized sports betting generally regard it as a hobby for sports fans that increases their interest in particular sporting events, thus benefiting the leagues, teams and players they bet on through higher attendances and television audiences. Most sports bettors are overall losers as the bookmakers odds are fairly efficient. However, there are professional sports bettors that make a good income betting sports, many of which utilize sports handicapping services.

Sports Betting Glossary

Action: A sports betting wager of any kind, a bet.

Added Game: For sports betting, a game not part of Las Vegas regular rotation posted as an accommodation to customers.
Angles: Using key factors from previous events to predict the results for future outcomes.

ATS: "Against the spread," taking points rather than betting with the spread and laying points in sports betting.

Beard: In sports betting a beard is a friend or acquaintance who is used to place bets as to conceal the true identity of the real bettor.
Bet: To risk something on the outcome of an event

Book: In sports gambling a Book is an establishment that accepts bets on the outcome of horse racing and sporting events.

Bookie: In sports wagering a person who accepts bets.
Bookmaker: see ‘bookie’
Buck: Sports betting term for a $100 wager.

Buy (Points): In sports betting, a player pays an additional price to receive half a point or more in his favor on a point spread game.

Canadian Line: In sports betting the Canadian line is a combination point spread and money line in hockey.

Chalk: The favorite.

Chalk Player: In sports gambling this person is someone who usually only plays the favored teams, rarely betting on the underdogs.

Circled game: In sports wagering this is a game in which the betting action is reduced; usually occurs in added games, games with injuries, bad weather, propositions, or halves of games. These games cannot be included in parlays or teasers

Cover: In sports betting this term means a pointspread win.
Data Mining: Searching through a large volume of statistics to find profitable situations to bet on in the future.

Dime: $1000.00 sports betting wager.

Dime Line: In sports betting a Dime line is a line where the juice is 10%.

Dog: In sports betting, the team perceived to be most likely to lose.

Dog Player: In sports gambling this term refers to one who mostly plays the underdog.

Dollar: $100, in sports wagering.

Double action: An "if bet" in sports betting that is processed if the precedent bet wins, ties or cancels.

Double Bet: In sports betting a double bet is a wager for twice the size of one's usual wager; also known as "double pop" or "doubling up."

Edge: A persons Advantage when it comes to sports betting.

Even Money: Sports betting term "Even money" is a bet whose odds are 1/1; a wager in which no vigorish or juice is laid.

Exotic: In sports gambling the term Exotic is any wager other than a straight bet or parlay - also called a prop or proposition.

Exposure: The maximum amount of money a sports book stands to lose on a game.

Favorite: In sports betting this it the team expected to win an event. The quoted odds reflect the extent to which the choice is favored.

Fifty cents: $50.00 of sports betting action.

Figure: For sports betting, Figure is the amount owed to or by a bookmaker.

First half bet: In sports betting this is a bet placed only on the first half of the game.

Future: In sports gambling odds are posted in advance on the winners of various major events including the Super Bowl, the World Series, the Stanley Cup, and the NBA Championship this is called a Future bet.
Gamble: To risk money on the outcome of an event.

Grand Salami: A sports betting term meaning the grand total of goals scored in all the hockey games of the day. It can be wagered to go Over/Under.

Half a dollar: $50.00 in sports betting action.

Half time bet: In sports betting this is a bet placed only on the second half of the game.

Handicapper: When it comes to sports betting a handicapper is one who studies, rates and wagers on sporting events and/or races.

Handicapping: In sports gambling this is the attempt to predict the outcome of sporting events.

Handle: A sports wagering term that means the total amount of bets taken.

Hedging: A sports betting term that means placing wagers on the opposite side in order to cut losses or guarantee a minimum amount of winnings.

Hook: In sports betting a Hook is a half point added to football and basketball betting lines.

Hot game: Sports betting term for a game that is drawing a lot of action on one side by knowledgeable handicappers.

Juice: The bookmaker's commission on a losing bet, also known as "vigorish."

Laying the points: Betting the favorite by giving up points.

Laying the price: In sports wagering, laying the price means betting the favorite by laying money odds.

Layoff: Sports betting term for money bet by a house with another bookmaker to reduce its liability.

Limit: In sports betting limit is the maximum amount a bookmaker will allow you to bet before he changes the odds and/or the points.

Line: In sports betting, the current odds or point spread on a particular event.

Linemaker: In the sports betting industry this is the person who establishes the original and subsequent betting lines.

Listed Pitchers: In sports gambling a listed pitcher is a baseball bet which will be placed only if both of the pitchers scheduled to start a game actually start. If they don't, the bet is cancelled.

Longshot: In sports wagering this is a team or horse perceived to be unlikely to win.

Middle: To win both sides of the same contest in sports betting event. Wagering on the underdog at one point spread and the favorite at a different point spread and winning both sides.

Money line: odds expressed in terms of money. With money odds, whenever there is a minus (-) you lay that amount to win a hundred dollars, where there is a plus (+) you get that amount for every hundred dollars wagered.

Move the line: A player pays an additional price to receive half a point or more in his favor on a point spread game.

Nickel: $500.00, in on a sports gambling wager.

Nickel line: A sports wagering line where the juice is 5%.

No action: A wager in sports betting in which no money is lost nor won.
Odds: The likelihood of the outcome occurring, stated in numbers form.

Off the board: In sports betting this is a game on which the bookmaker will not accept action.

One dollar: $100.00 in sports betting action.
Opening Line: The earliest line posted for a particular sporting event.

Outlaw Line: Term for the earliest line in sports betting. This is an overnight line that only a handful of players are allowed to bet into.

Over: In sports gambling the "over" is a sports bet in which the bettor guesses that the combined point total of two teams will be above a specified total.

Parlay: In sports wagering, a bet with two or more teams in which all teams must win or cover for the bettor to win and receive higher payouts.

Pick 'em: When neither team is favored. Also called a "pick" in sports betting terms.

Point spread: In sports betting this is the predicted scoring differential between two opponents as quoted by a sports book.
Power Ratings: The strength of a team in comparison to another team.

Press: In sports betting this means to wager a larger amount than usual.

Price: Sports betting term for the odds or point spread.

Prop (Proposition) Bet: In sports gambling this is a special wager offered by the sports book on unique and various topics. These wagers can be on sporting events, politics, and even trial outcomes. The wagers use the money line format of pay off odds and might included who scores the first touchdown in the super bowl, who will win the next presidential election, or whether or not O. J. will be found guilty.

Puckline: A puckline for sports wagering is giving odds of a goal spread instead of using a Canadian Line in hockey, where both a goal spread and money line are played.

Puppy: The underdog in an event.

Push: When the contest ends with no winner or loser for wagering purposes.

Round Robin: In sports betting this a series of three or more teams in 2-team parlays.

Run down: In sports gambling this is all the lines for an specific date, sport, time, etc.

Run line: In baseball a spread used instead of the money line.

Runner: One who places bets for another when it comes to sports betting.

Scouts: person(s) who waits for what he thinks is an unusually strong wager. AKA. Sports Player.

Sharp: When it comes to sports betting a sharp is a sophisticated or professional gambler.

Sides: In sports betting, the names of the two teams playing: the underdog and the favorite.

Single action: An "if bet" in sports gambling that is processed only if the precedent bet wins.
Sportsbook: A person or company that accepts bets.

Spread: A spread in sports wagering is the predicted scoring differential between two opponents as quoted by a sports book. See "point spread."

Square: A novice when it comes to sports betting.

Steam: In sports betting steam is when a line starts to move rapidly. Most "steam games" do not necessarily reflect objective circumstances, but are games that a mass of bettors is drawn to for some reason.

Store: A bookie or sports betting establishment.

Straight bet: In sports betting this is a wager on just one team or horse.
Straight-up: Winning the game without any regards to the pointspread.
Systems: Using trends for the past that you are consistent with to predict future outcomes.
Taking the points: When it comes to sports gambling this means betting the underdog and its advantage in the point spread.

Taking the price: In sports wagering this means betting the underdog and accepting money odds.

Teaser: A teaser is a special type of parlay in sports betting in which you adjust the point spread or total of each individual play. The price of moving the point spread (teasing) is lower pay off odds winning wagers.

Ticket: A sports betting wager.

Tie: In sports betting a tie is a wager in which no money is lost nor won because the teams' scores were equal to the number of points in the given line.

Total: The combined amount of runs, points or goals scored by both teams during the game, including the overtime.

Totals Bet: In sports gambling this is a proposition bet in which the bettor speculates that the total score by both teams in a game will be more or less than the line posted by the sports book.

Tout: Someone who sells their expertise on sports wagering.
Trends: Using the past to predict the future focusing in on only one team.

Under: When it comes to sports betting a under is a wager in which the bettor guesses that the total points scored by two teams will be under a certain figure.

Underdog: The team perceived to be most likely to lose. Also known as the "dog" in sports betting terminology.

Value: In sports betting value means getting the best odds on a wagering proposition; the highest possible edge.

Vigorish: The bookmaker's commission on a losing bet; also known as juice in sports betting.
Wager: To risk money on the outcome of an event.

Wise guy: A wise guy is the sports gambling term for a well-informed or knowledgeable handicapper or bettor.

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Types of bets

Aside from simple wagers—betting a friend that one's favorite baseball team will win its division, for instance, or buying a football "square" for the Super Bowl--sports betting is commonly done through a bookmaker. Legal sports bookmakers exist throughout the world (perhaps most notably in Las Vegas). In areas where sports betting is illegal, bettors usually make their sports wagers with illicit bookmakers (known colloquially as "bookies") and on the Internet, where thousands of online bookmakers accept wagers on sporting events around the world. (In the United States, the legality of Internet wagering is ambiguous, due to the fact that online bookmakers generally operate outside of the U.S. Some online bookmakers do not accept wagers from the U.S. due to these unresolved legal questions.) The bookmaker earns a commission or "vigorish" by regarding the money at risk as less than the size of the bet placed. A common line is a $110 bet on a fair coin which pays $210 to win and $0 to lose. On this line, it costs $220 to bet both sides of the same coin simultaneously, but the combined bet always pays $210. The $10 loss constitutes the vig. There are opposing positions on whether the winner or loser can be construed as paying the vig, but this debate is not especially meaningful. If you view $110 to win $210 on a fair coin as $100 at risk, then it will appear as if the loser pays the vig; if you view the same line as $110 at risk, then it will appear as if the winner pays the vig. It happens that standard practice among bookies is to adjust odds so the amount at risk remains constant from the winning side of the proposition, hence the common perception that the loser pays the vig. Vigs expressed as percentages suffer from the same perceptual bias. On the line as given in this example, for a fair coin, the bookie has an expectation of making $5 for each $110 bet placed, which is often divided out and expressed as 4.5% odds on teams or adversaries are quoted in terms of the favorite (the team that is expected to win, thus requiring a riskier wager) and the underdog.

Bookmakers generally offer two types of wagers on the winner of a sporting event: a straight-up or money line bet, or a point spread wager. Moneylines and straight-up prices are used to set odds on sports such as football, baseball and hockey (the scoring nature of which renders point spreads impractical) as well as individual vs. individual matches, like boxing. For these sports, bookmakers in Europe and Asia generally use straight-up odds, which are quoted based on a payout for a single bet unit; for example, a 2-1 favorite would be listed at a price of 1.50, whereas an underdog returning twice the amount wagered would be listed at a price of 3.00.
American bookmakers generally use moneylines, which are quoted in terms of the amount required to win $100 on a favorite, or the amount paid for a $100 bet on an underdog. The amount "won" in a bet is the net amount over and above the initial bet. If a person wins $200 on a bet of $100, the bookmaker actually pays the winner $300 (i.e. $200 plus the initial bet of $100).

For example, a baseball game between the Milwaukee Brewers and Chicago Cubs might have a moneyline on Milwaukee (the favorite) at -200 and Chicago (the underdog) at +180. A bettor looking to take Milwaukee must risk $200 for every $100 he wishes to win over and above the initial $200 bet. A person wagering on Chicago will win $180 for every $100 he bets.

The +180 moneyline on Chicago includes a 20 cent "dime line". Bookmakers generally use a "dime line" with moneylines to calculate the vigorish they receive on losing wagers. Without the 20 cent dimeline in the example above, the Chicago moneyline would be +200.

Generally speaking, for favorites of -120 to -150, the difference between the favorite and underdog is 10 cents; i.e., the underdog to a -120 favorite is priced at +110. The discrepancy between prices generally rises for favorites of -160 or higher.

Unlike point spread bets, a moneyline wager requires only that the team wagered upon win the match. In sports such as baseball, where certain teams can be heavy favorites against weaker opponents (sometimes as much as -350 or higher), the moneyline system requires that a hefty sum be risked on the favorite, while enticing underdog players with a higher payout. Note, however, that moneyline wagers are really just special cases of point spreads bets, where the spread is assigned a value of zero.

In sports such as basketball or American football, betting on the point spread is more popular, although money line odds are usually offered as well. A point spread wager typically requires a bettor to risk $110 to win $100, the extra $10 being the bookmaker's vigorish if the wager loses. However, bettors backing the favorite collect only if their team wins by more than a specific victory margin, which is set at the time of the wager. This is called "covering the spread". Similarly, underdog bettors can collect even when their team loses, as long as they win against the point spread by losing by fewer points than were quoted by the bookmaker. For example, suppose that a college football game between Team A and Team B had Team A as a 27 point favorite (quoted as Team A -27, or Team B +27):

Many bookmakers offer several alternative bets, including the following:

Proposition bets: These are wagers made on a very specific outcome of a match. Examples include guessing the number of goals each team scores in a soccer match, betting whether a wide receiver in a football game will net more or less than a set amount of total yardage, or wagering that a baseball player on one team will accumulate more hits than another player on the opposing team.
Parlays: A parlay involves multiple bets (usually up to 12) and rewards successful bettors with a large payout. For example, a bettor could include four different wagers in a four-team parlay, whereby he is wagering that all four bets will win. If any of the four bets fails to cover, the bettor loses the parlay, but if all four bets win, the bettor receives a substantially higher payout (usually 10-1 in the case of a four-teamer) than if he made the four wagers separately.

Teasers: A teaser allows the bettor to combine his bets on two or more different games. The bettor can adjust the point spreads for the two games, but realizes a lower return on the bets in the event of a win.
Run line, puck line or goal line bets: These are wagers offered as alternatives to straight-up/moneyline prices in baseball, hockey or soccer, respectively. These bets feature a fixed point spread that (usually) offers a higher payout for the favorite and a lower payout for the underdog (both in comparison to the moneyline). For example, the above-described Brewers/Cubs baseball game might offer a run line of Milwaukee -1.5 (+100) and Chicago +1.5 (-120). A bettor taking Milwaukee on the run line can avoid risking $200 to win $100 on the moneyline, but will collect only if the Brewers win by 2 runs or more. Similarly, a run line wager on the Cubs will pay if Chicago loses by no more than a run, but it requires the bettor to risk $120 to win $100. Bettors may also wager on so-called alternate run, puck, or goal lines, which offer decreased payouts on the favorite and increased payouts on the underdog.Oneca again using the Brewers/Cubs baseball game as an example, a sportsbook might offer an alternate run line of Milwaukee +1.5 (-300) and Chicago +1.5 (+270).
Future wagers: While all sports wagers are by definition on future events, bets listed as "futures" generally have a long-term horizon measured in weeks or months; for example, a bet that a certain NFL team will win the Super Bowl for the upcoming season. Such a bet must be made before the season starts in September, and winning bets will not pay off until the conclusion of the Super Bowl in January or February (although many of the losing bets will be clear well before then and can be closed out by the book). Odds for such a bet generally are expressed in a ratio of units paid to unit wagered. The team wagered upon might be 50-1 to win the Super Bowl, which means that the bet will pay 50 times the amount wagered if the team does so.
Head-to-Head: In these bets, bettor predicts competitors results against each other and not on the overall result of the event. One example are Formula One races, where you bet on two or three drivers and their placement among the others. Sometimes you can also bet a “tie”, in which one or both drivers either have the same time, drop out, or get disqualified.

Totalizators: In totalizators (sometimes called flexible-rate bets) the odds are changing in real-time according to the share of total exchange each of the possible outcomes have received taking into account the return rate of the bookmaker offering the bet. For example: If the bookmakers return percentage is 90%, 90% of the amount placed on the winning result will be given back to bettors and 10% goes to the bookmaker. Naturally the more money bet on a certain result, the smaller the odds on that outcome become.
If Team A defeats Team B by more than 27 points, they have covered the spread and bettors on Team A would receive $100 on a $110 bet. Team B bettors lose the $110 they wagered.
If Team B defeats Team A, bettors on Team B would receive $100 on a $110 bet. Team A bettors lose the $110 they wagered.

If Team B loses by less than 27 points, they have won against the spread. Bettors on both sides are then treated exactly as if Team B had won the game.

If Team A wins by exactly 27 points, the wager is called a "push", and neither side wins. Standard practice by U.S. bookmakers is to return the stakes of all bettors on the game in full. To prevent pushes and ensure that they receive their commission on losing wagers, bookmakers often set point spreads that include a half-point.
Another common wager available for sporting events involves predicting the combined total score between the competing teams in a game. Such wagers are known as "totals" or "over/unders." For example, the college football game described above might have a total of 55 points. A bettor could wager that both teams will combine for over 55 points, and play the "over." Or, he could predict that the score will fall under this amount, and play the "under." As with point spreads, bookmakers frequently set the totals at a number involving a half-point (i.e., 55.5), to reduce the occurrence of pushes.