What Is Point Spread Betting?
Props are additional wagering opportunities for individual games and events. They’re basically like side bets on things that may happen during the proceedings. Many prop bets revolve around the statistical accomplishments of players.
In this game, both the Celtics and Lakers are -110 if you bet them against the spread. A $250 bet on the Celtics on the moneyline, meaning if they win the game by any margin the bet wins, would win $100 (plus a return of the original $250 bet). The more popular the sport is, the more movement in the betting market there may be. For example, football is a very popular sport and huge sums of money change hands.
These lines work exactly the same way as a point spread, but they usually have adjusted juice rather than the standard -110 juice attached to most football and basketball point spreads. Like most other sportsbooks, our point spread bets have a “juice” or “vig” of -110 unless otherwise noted. This means a point spread bettor must risk $110 for every $100 they wish to profit. Bet $11 to profit $10; bet $440 to win $400; bet $22,000 to win $20,000; etc.
Sports betting is not legal in South Dakota, but residents passed a bill initiative in the 2020 election. Sports betting is not legal in South Dakota, but residents passed a ballot initiative in the November 2020 election, which means it’s on its way. Sports betting is legal in Virginia and residents began betting via FanDuel in January 2021. Be sure to check out our Basketball Betting News and ourHow to Bet on the NBAguide for more options and assistance in getting you in on the action for basketball.
To help you understand how you can calculate your winnings based on a bet amount, we will now cover the formula. These days, most sportsbooks allow you to choose your preferred odds format, so select the one that you are most comfortable with. Also, depending on how the betting is affected by jurisdiction, taxes may be involved for the bookmaker and/or the winning player. This may be taken into account when offering the odds and/or may reduce the amount won by a player. Wholesale odds are the “real odds” or 100% probability of an event occurring.
Here are some examples of betting odds converted into percentages to find out the probability. If the bookmaker has an outcome to an event with a high probability, then it’s more likely to happen than not. If the event is deemed to have a low probability, then it’s less likely to happen than not.