Betting Basics

What is sports betting?

Wikipedia definition of sports betting is the activity of predicting sports results and placing a wager on the outcome.
Our definition of sports betting is the process of making a sound investments based on past and present characteristics. This is our secret to winning.
We consider ourselves investors. So we base every prediction on 80 different parameters that enable us to make consistent winning bets.

Is sports betting legal?

There are dark and gray areas when it comes to sports betting. Make sure you stay away from the dark areas and walk the gray areas with caution.

On May 14, 2018 the Supreme Court ruled that PAPSA was unconstitutional. This ruling lifted the Federal ban on Sports Betting in all 50 States.

Warning: this ruling does not imply that sports betting is now outright legal across the United States. The Supreme Court ruling simply gives most of the authority to each state when considering the legalization and regulation of sports betting. This mean state can choose to have sports betting are not.

Currently there are only a few states authorized as legal sports betting states. But there are many others that have already filed to become one. The legal states are listed below. You can legally bet on sports in these states.

States with legalized sports betting

New Jersey
New York
West Virginia

States in the process of becoming legal

Rhode Island
South Carolina

How is online sports betting legal?

Online sports betting is legal only in the states that have legalized sports betting and have adopted online betting platforms. You also have to be in that states boundaries to place a bet. You can’t be in one state and bet in another state.

How sports betting works?

Placing a bet can be confusing. Sports books have their own terminology. The first thing in figuring out how sports betting works, starts with understand the lingo. Next you need to learn how oddsmakers/linemakers set the line and point spread. The point spread also know as Money line in some sports, both refer to the line. The Line is the odds place on a bet.
Linemakers set the lines based on many statistics such as:

  • Pass and present seasons performances
  • Total points scored in a game
  • Injuries
  • Home field advantage
  • The weather forecast
  • Team morale
  • Players personal life situation

Now here is the important part

The Linemakers/oddsmakers job is not to predict the outcome of the game. There goal is to insure that they will make a profit on the bets they receive. This is why the line will change. If to many people bet the same way and win, the sport book will lose money. So the linemaker/oddsmaker will try to keep an equal number of bets on both sides of the line which will result in wins and losses insuring a profit for them.

Some people think when you bet. You are betting against the sports book. But in reality you are betting against the people. The people is what makes the line move with their bets.

Linemakers/Oddsmakers move the line in response to betting patterns. If to many people are betting on the same team, then that team might have been given too many points, so the line is moved. Bets made prior to the move are still counted at the old line.

How money is made in sports betting

No matter what type of bet you are placing, You win if the team your wagering on covers the bet. That could mean the team you wagered on won out right. It could mean the team won or losed by the point spread or won by covering the total (the over or under).
How much you win depends on how much you wagered and the odds the bookmaker set for the bet

How to read a sports betting board

The above image is an example of a betting board that you may see if you bet in person. Starting from the top of this board, it begins with the day and date. Below the day and date you will see the type of game. You can see this is a NFL betting board and the current week number of the season. To the far left you can see a 3 digit number. This is the rotation number, (a number that is assigned to each team to help identify the team in which you are betting on). Next to the rotation number is the team name attached to that number. Next to the team name is the point spread given to that team (the odds placed on a game) . Then the last number next to the point spread is the money line (the money line is the amount the bettor wins or must wager to place a bet) . Sometime there will be an additional number called the Total (the total is a type of bet. It represents the over and under point spread).

Types of bets you can place

There are many ways you can place a bet below are a few you may encounter:

  • Money Line Bet
  • Spread Bet
  • Total Bet (over and under)
  • Proposition Bet
  • Parlay Bet
  • Teaser Bet
  • If Bet
  • Future Bet
  • Head to Head Bet
  • Half Bet
  • In Play Bet
  • Reverse Bet
  • Progressive Parlay
  • Handicap Bet