Sports betting has existed since 1000 B.C in China, where gambling on animal battles was commonplace. In early Rome, an individual could bet about the Gladiatorial games. The thought of betting on sports is as old as organized sport itself. But up until the 1940s, bettors were fairly limited in what sort of bets they could create. The standard system of odds would allow bets on, for example, that the 3-1 chances that the Steelers would beat the Browns.
That was all before Charles McNeil, a mathematics teacher from Chicago, invented the concept of the point spread. An avid gambler, McNeil established what he called”wholesaling odds” and started his own bookmaking operation in the 1940s. He started out offering this new fashion of betting on soccer, but his business model grew to add basketball. McNeil changed the way sports betting was done, and his legacy lives on today in what we now call the point spread.
What is a Point Spread and How Can it Work?
If you are new to sports betting, you might find it daunting to wager on anything besides whether your group will win or lose the match. That sort of wager is called a moneyline wager or a fixed-odds wager, and it’s the very base of this wager, but is just the start concerning how much you can take your sports betting game.
The point spread, which is occasionally known as the”disability”, is the number of points obtained from the favorite, or contributed to the underdog, so as to open up the odds of either team winning the wager evenly. In most games, there’s usually a team which is more likely to win, based on a range of statistical factors. If the only kind of wager available was on who’d win between a really strong team and a poor team, it would not be all that exciting. The point spread was developed to make betting a whole lot more interesting, since it allows a bet on the losing team to win you money. How? Let us break down an illustration:
Green Bay Packers vs. Seattle Seahawks
In this case, we have a favorite to win, and also an underdog. The Packers will be the favorites, and that is shown from the (–) worth in front of the 6. Underdogs are represented with the (+) value. The 6 point value is how many factors either team could win, or lose . If you think the Packers will win by MORE than 6 points, then you’d bet on the favorite in this situation, meaning that the Packers have to win by 7 or more points in order for you to win your bet.
Maybe you’re more convinced that the Seahawks can either win the game or lose by less than 6 points. In that case you’ll want to place your bet on the underdog. If the final score is Packers 21, Seahawks 17 — the bet about the +6 point spread is a winning bet if you bet on the Seahawks.
Point Spread Tie Rules (Push)
If the Packers won the game by just 6 points, then it is called a”push” and you would get your cash back.
Oftentimes you will see a point spread which has a half-point added to this amount. Of course, there is no such thing as half a point in a soccer match, so why do we so frequently see point spreads with a (.5) attached into the score? Sportsbooks do so to make certain there isn’t a prospect of a drive. Let’s take a peek at our game from above with the half point added.
In cases like this, if you bet on the Packers to win, and they win by 7, then you win. If they win by 6, you lose. Same is true for a wager on the underdog. When the Seahawks lose by seven points, you lose your wager, and if they lose by 6 points, you are going to win. The opportunity of a tie or”push” has been removed.
What does”Cover the Spread” and”Against the Spread” (ATS) Mean?
You may have heard the expression”covering the spread” or the term”betting against the spread.” This means that if the favorite team wins an occasion with the purpose spread taken into account or that the underdog team wins with additional points, they have covered the spread. If the Packers win that game by more than 7 points, they’ve covered the spread.
Betting”against the spread” (ATS) only means you’re betting on the point spread in a particular matchup as opposed to the moneyline, or even some other type of wager. Bettors frequently use a team’s ATS document to gauge its performance against the spread. For example, the New England Patriots were 11-5 ATS in the 2017 regular season, meaning they covered the submitted point disperse 11 occasions, and neglected to pay five times.
Point Spread Payout Explained Now that we understand how the point spread functions, let us figure out just how much money you’ll win (or lose.) If you bet on the spread of a match, you’ll see another number below the amounts representing the point spread.
Packers -6.5 (-110)
Seahawks +6.5 (-110)
That (110) number lets you know how much you need to bet so as to win $100. The vigorish — also known as vig or juice — is the cost sportsbooks charge for creating a wager. The most common vig utilized for every side of a bet is -110.
Let’s say you decide to wager $100 on the Packers to win by more 7 factors and the final score is Packers 30, Seahawks 21. The Packers have won by 9 points, which means they’ve covered the spread, and you’ve won the wager. The -110 means that your $100 wager will win you a total of 190. That total includes your initial bet amount, so your entire benefit is $90.
Point Spread Cases Following is a closer look at how sportsbooks display the chances they give. From the NFL and the NBA, the point spread is readily found, as well as both the moneyline and the Over/Under betting choices.
NFL Point Spread Explained
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