|
In the world of sports betting there are many different types of bets one can place, and all of these bets carry different odds for the bettor. Let's start with the bets that offer players the flimsiest odds. Over in Europe, the 1x2 bets were just about the only ones available on soccer games until not too long ago. A player can bet on either 1 (which means the home team wins), x (which is a draw) or 2 (which means the away team wins). He cannot bet on 1 and x or 2 and x. The problem with this system is that it offers a blatant advantage for the bookie. On every bet, there are three possible outcomes, out of which two are always in the favor of the book.
Lately though European bookmakers have started using a version of the US spread betting system that offers players much better odds, called Asian Handicapping. In an Asian Handicap bet, there are only two possible outcomes. The team picked by the player either manages to cover the given handicap (spread) or not.
If two teams are deemed perfectly equal in strength by the bookie, the handicap is 0. None of the teams needs to cover a handicap, and thus it all turns into a money-line bet. Bet the winner and you win, bet the loser and you lose. If there's a tie, you get your money back. This already sounds much better than the old 1x2, doesn't it?
If one of the teams is deemed stronger than the other, the bookmaker will give it a handicap. A -1, or -1.5 means that the team given this handicap has to score once or twice (depending on the spread) for the game to be considered a draw (from the bookmaker's perspective). If the team you bet on manages to cover the given handicap (e.g. wins by 2 goals), you win. If not, you lose. In case the spread is -1 and your team scores just one goal, you get your money back. This is what they call a Single Handicap".
Double handicap is used when the difference between the two teams is very small in favor of one or the other.
Let's see an example of a double handicap match-up. Team A plays team B and A gets a handicap of 0, and -0.5. Obviously, A is the slight favorite here. If A wins the match, you'll cash in on both bets. If A loses, you'll lose on both of them. If there's a tie, you win your 0 handicap, and lose your -0.5 one which means you get half of your wager refunded.
There are several variations of wagering systems on offer on this side of the Atlantic as well. The most common is the straight bet. This is basically spread betting, and functions in much the same way Asian Handicapping does.
The spreads given are different, of course, depending on the nature of the sport.
Betting the money line is another popular form of sports wagering. In this instance, players bet on whether one of the teams wins or not. The bet is balanced by the bookmaker by means of manipulating the return offered (you'll get a fabulous return on hopeless underdogs, and a downright stingy one on favorites).
Betting on the totals can yield outstanding results when the book has the above mentioned two types of bets wringed value-free (March Madness final four betting). The player places a wager on whether or not the total score of the game will exceed a set value. Wagers can be places on the Over and the Under. In case you bet on the Over, and the score fails to get over the set mark, you lose. If it lands dead on the line, you get your money back, if it goes over, you win.
Parlays are about combining several games and betting on the combined outcome. If a player makes a 4 game parlay, and all 4 of his chosen teams win, he wins the parlay.
Proposition bets are an interesting breed. Hardcore sports bettors would wager on just about anything these days. Hence, bets are made on the author of the first goal (or basket), on how many minutes will X, Y or Z play, on how many timeouts the coach will call, or on just about anything you can think of
Acting on the positive expected value is always a priority for the good sports bettor. In poker, positive expected value is at least as important.
Rakeback deals make sure you get plenty of EV+, and turn you into a winner even if you happen to be a slightly losing player.
|
