Sports betting has been around since 1000 B.C at China, where gambling on animal battles was commonplace. In early Rome, one could bet on the Gladiatorial games. The thought of betting on sports is as old as organized sport itself. But up until the 1940s, bettors were rather limited in what sort of bets they could create. The standard system of odds would allow bets on, by way of example, the 3-1 chances that the Steelers would beat the Browns.
That was before Charles McNeil, a mathematics teacher in Chicago, devised the concept of the point spread. An avid gambler, McNeil established what he called”wholesaling odds” and started his own bookmaking operation from the 1940s. He started out offering this new style of betting on soccer, but his organization model grew to include basketball. McNeil altered the way sports gambling was done, and his legacy lives on now in what we now call the point spread.
What is a Point Spread and How Does It Function?
If you’re new to sports gambling, you may find it daunting to bet on anything besides whether your team will win or lose the game. That sort of bet is called a moneyline wager or a fixed-odds bet, and it’s the very foundation of this wager, but is just the beginning in terms of how much you can take your sports betting game.
The point spread, which is occasionally known as the”handicap”, is the number of points obtained from the chosen, or contributed to the underdog, so as to open up the chances of either team winning the wager evenly. In most games, there’s normally a team that is more likely to win, dependent on a number of statistical factors. If the only kind of wager available was on who would win between a very strong team and a bad team, it would not be that exciting. The point spread was developed to make betting a whole lot more intriguing, because 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 example, we have a favorite to win, and an underdog. The Packers are the favorites, and that is shown from the (–) worth in the front of the 6. Underdogs are represented by the (+) value. The 6 point worth is how many points either team could win, or lose by. If you believe 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 so that you win your bet.
Maybe you’re more confident that the Seahawks can win the game or lose by less than 6 points. If that’s the case you’ll want to place your wager on the underdog. If the final score is Packers 21, Seahawks 17 — the wager about the +6 point spread is a winning bet if you bet on the Seahawks.
Point Spread Tie Rules (Push)
When the Packers won the match by just 6 points, then it’s called a”push” and you would get your cash back.
Oftentimes you’ll see a point spread that has a half-point added to this amount. Obviously, there is no such thing as half of a stage in a soccer game, so why is it that we so frequently see point spreads using a (.5) attached to the score? Sportsbooks do so to make certain there isn’t a chance of a push. Let’s take another look at our match from above together with the half point added.
In cases like this, if you gamble on the Packers to win, and they win by 7, then you win. Should they win by 6, then you lose. Same is true for a bet on the underdog. If the Seahawks lose by 7 points, then you lose your wager, and if they lose by 6 points, then you are going to win. The chance of a tie or”push” was removed.
What does”Cover the Spread” and”Against the Spread” (ATS) Mean?
You might have heard the expression”covering the spread” or the term”betting against the spread” This means that if the favourite team wins an occasion with all the point spread taken into account or that the underdog team wins additional points, they’ve covered the spread. If the Packers win that game by more than 7 points, then they’ve covered the spread.
Betting”against the spread” (ATS) just means you are betting on the point spread in a specific matchup rather than the moneyline, or another sort of wager. Bettors often use a team’s ATS document to gauge its performance against the spread. By way of instance, the New England Patriots were 11-5 ATS at the 2017 regular season, meaning they covered the submitted point disperse 11 occasions, and neglected to cover five occasions.
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 beside the amounts representing the point spread.
Packers -6.5 (-110)
Seahawks +6.5 (-110)
This (110) number lets you know how much you need to wager in order to win $100. The vigorish — also known as vig or juice is the price sportsbooks charge for creating a wager. The most frequently encountered vig used for each side of a bet is -110.
Let’s say you decide to bet $100 on the Packers to win by greater 7 points and the final score is Packers 30, Seahawks 21. The Packers have won by 9 points, which means they have covered the spread, and you have won the bet. The -110 means your $100 bet will win you a total of 190. That total includes your original bet amount, so your total profit is $90.
Point Spread Cases Here’s a closer look at how sportsbooks display the chances they offer. In the NFL and the NBA, the point spread is readily located, in addition to both the moneyline and the Over/Under betting choices.
NFL Point Spread Explained
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