Sports betting has been around since 1000 B.C in China, where betting on animal fights was commonplace. In early Rome, an individual could bet on the Gladiatorial games. The idea of gambling on sports is as old as organized game itself. But up until the 1940s, bettors were fairly limited in what kind of stakes they could create. The typical system of chances would enable bets on, for instance, the 3-1 odds that the Steelers would beat the Browns.
That was before Charles McNeil, a math teacher in Chicago, devised the idea of the point spread. An avid gambler, McNeil created what he called”wholesaling odds” and began his own bookmaking operation from the 1940s. He started out offering this brand new style of gambling on football, but his organization model grew to include basketball. McNeil changed the way sports betting was performed, and his legacy lives on now in what we currently call the point spread.
What is a Point Spread and How Does it Work?
If you are new to sports gambling, you may find it daunting to wager on anything besides whether your team will win or lose the game. That kind of wager is referred to as a moneyline wager or a fixed-odds wager, and it is the very foundation of this wager, but is just the start in terms of how far you can take your sports betting game.
The point spread, which is sometimes known as the”handicap”, is that the number of points taken in the favorite, or contributed to the underdog, in order to open up the odds of either team winning the bet evenly. In most games, there is normally a team that is more likely to win, dependent on a range of statistical elements. If the only sort of bet available was on who’d win between a very powerful team and a bad team, it would not be all that exciting. The point spread was designed to make betting much more intriguing, since it allows a wager on the losing team to win you money. How? Let’s break down an illustration:
Green Bay Packers vs. Seattle Seahawks
In this example, we’ve got a favorite to win, and an underdog. The Packers will be the favorites, and that is shown from the (–) worth in 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 would bet on the favorite in this case, meaning that the Packers must win by 7 or more points in order for you to win your wager.
Maybe you’re more convinced 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 bet on the underdog. If the final score is Packers 21, Seahawks 17 — the bet on the +6 point spread is a winning bet if you bet on the Seahawks.
Stage Spread Tie Rules (Push)
When the Packers won the game by exactly 6 points, then it’s called a”push” and you would get your cash back.
Oftentimes you’ll see a point spread which has a half-point added to the amount. Of course, there is no such thing as half of a point in a football game, so why do we so frequently see point spreads using a (.5) attached into the score? Sportsbooks do this to make certain that there isn’t a chance of a push. Let us take a peek at our game from above with the half point added.
In this case, 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 wager on the underdog. If the Seahawks lose by 7 points, you lose your bet, and if they shed by 6 points, you’ll win. The chance of a tie or”push” was eliminated.
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 favourite team wins an occasion with 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, they have covered the spread.
Betting”against the spread” (ATS) just means you are gambling on the point spread in a specific matchup rather than the moneyline, or even some other type of wager. Bettors often use a group’s ATS record to judge its own performance against the spread. By way of example, the New England Patriots were 11-5 ATS at the 2017 regular period, meaning they covered the submitted point spread 11 times, and neglected to cover five times.
Point Spread Payout Described 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 game, you are going to see another number beside the numbers representing the point spread.
Packers -6.5 (-110)
Seahawks +6.5 (-110)
That (110) number lets you know how much you need to bet in order to win $100. The vigorish — also called vig or juice — is the price sportsbooks charge for creating a wager. The most frequently encountered vig utilized for every side of a wager is -110.
Let’s say you decide to bet $100 on the Packers to win by greater 7 factors and the final score is Packers 30, Seahawks 21. The Packers have won by 9 points, meaning they’ve covered the spread, and you’ve won the wager. The -110 means your $100 wager will win you a total of 190. That total includes your initial bet amount, which means that your total profit is $90.
Point Spread Examples Here’s a closer look at how sportsbooks display the chances they offer. From the NFL and the NBA, the point spread is readily found, in addition to both the moneyline and the Over/Under gambling options.
NFL Point Spread Explained
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