- What Does Plus 1200 Mean In Betting Against
- What Does Plus 600 Mean In Betting
- What Does Plus 1200 Mean In Betting Odds
- What Does Plus 100 Mean In Betting
- What Does Plus 1200 Mean In Betting Terms
In this particular example, the Oklahoma City Thunder are the outsider or underdog as they have odds with a plus sign at the front (plus money). This means if you bet $100 on OKC then you would collect $105 profit, a total return of $205. Clearly the bookmakers considered the game to be potentially close and therefore odds were reasonably tight. Plus, the 2021 NFL Draft starts on April 29, 2021, and that can dramatically shift the NFL futures odds. Key trades and injuries can also throw some serious monkey wrenches into early predictions.
Do you place bets on sports? If so, you have likely heard the terms 'juice,' 'vig,' or 'vigorish,' in the past. It's sometimes just called -110, too. What you may be wondering (especially if you are new to the realm of sports betting) is what exactly this means and how it may affect you.
What Does -110 Mean In Sports Betting?
In sports betting, the magic number is -110. That's because it outlines the total amount required by a sportsbook to earn(win) $100 on either side of a straight bet wager against the spread. Bettors have to lay down $110 if they want to win $100 when they are wagering on a point spread. Bettors can bet any amount on a -110 betting line or any line for that matter, but the return is different. For example if you wanted to win $50, you would have to bet $55, If you wanted to win $25 you would have to bet $27.50. The point spread is set by the oddsmakers, with their goal being to acquire equal action on both sides.
Confused? There's no need to be. It isn't as hard to understand as it may seem once you get the fundamentals of sports betting down pat. Lets dig alittle deeper.
What Does Plus 1200 Mean In Betting Against
What Does Plus 600 Mean In Betting
What Does -110 Mean for a Sportsbook?
What Does Plus 1200 Mean In Betting Odds
If you are coming from the perspective of a sportsbook (bookie), the -110 number is actually used for making sure they are able to make money off of the bettors regularly – this is essential for staying in business. The 'juice,' which is what this is usually referred to, is the amount of commission that the book earns on a bet or bets that have been wagered. The sportsbooks goal is to have 50% of the bets on each side guaranteeing them a profit from the 'juice'
Put simply, you can think of it this like this. Consider it as a fee to broker the wager. This allows the book to still wind up with a profit between the one winning bet that's cashed out, and another losing bet that's based on the same -110.
If a bettor were to keep splitting bets with the sportsbook and there was never any juice associated with this, then it'd be pretty hard to make profit.
What Does -110 Mean for a Bettor?
What Does Plus 100 Mean In Betting
For bettors, the -110 is similar to wagering on a smaller moneyline, but usually with a total or spread involved where you are going to choose one side to cover the point spread. For example if the Lakers were -2 and -110 against the Hornets and you wanted to bet on the Lakers -2 -110 for $200, you would have to Risk $220 to win $200.
Reduced Juice
In some cases, a sportsbook may provide a bettor with 'reduced juice,' or even 'nickel lines' at specific times when they drop the -110 to -105. This is typically done in an effort to get more bets to come in. As a result, if you are betting, it is a good idea that you shop around to find the best lines before you put up a wager. After all, the ultimate goal is for you to make as much money as you can and put yourself in the position to pay much less so you can win the same amount. This is one of the best ways to help ensure this happens.
What Does Plus 1200 Mean In Betting Terms
In some cases, it may be necessary for you to pay a premium of -120 or even -130. However, as long as your bet is a winner, it doesn't really matter. Losing is what is going to cost you, so you should minimize your losses as much as possible.
As someone who reports on the latest NJ sports betting news, I can easily answer questions about the latest casino partnership or online sports betting platform launch.
(In case you didn't know, DraftKings Sportsbook just launched its sports betting app in New Jersey.)
What I can't answer is any question about what it means to actually place a sports bet. Since I am writing less about online poker these days and more about legalized sports betting, it seems appropriate that I understand what all the fuss is about.
I began my quest by seeking the answers to what might seem like some fundamental questions. As someone whose only gambling vice to date is poker, the thought of placing my first informed sports bet is intimidating, to say the least.
I say 'informed' because I will confess to placing bets while at the horse races. So that you know, I usually choose the horse based on its colors and nothing more.
But that is about to change.
So, what is a line anyway?
Now, don't laugh. It is the one question I have had for quite a while and have been too embarrassed to ask.
Theline is merely the number assigned by the bookmakers handicapping the team perceived as more likely to win.
For example, if Team A is perceived to be seven points better than Team B, the bookmaker can handicap Team A by seven points. The line becomes Team A to win by more than seven points or Team B to lose by less than seven points.
Come to find out, that example is a point spread bet. Of course, that opened a whole new can of worms … the different types of sports bets.
So, I went down that rabbit hole next.
What are the different types of bets?
There are a ton of resources on sports betting out there. I am not going to lie, my quest to understand the types of bets ended up confusing me more than helping.
That is until I found some straightforward explanations from TheLines.com.
Here are the types of sports bets I found:
Point Spread Bet: Described above, the point spread bet is the most popular type of sports bet. It's how the sportsbook evens the playing field.
Moneyline Sports Bet: Without knowing it, I have placed many, many moneyline bets throughout my life. To place a moneyline bet, the sports bettor picks a team a to win. It's as simple as that.
Parlay Sports Bet: A parlay bet is a single bet that relies on two or more specific outcomes to be a winner. For instance, a sports bettor might bet Team A to win by more than 10 points AND Team C to win by more than six. Both teams must win to collect on the bet.
In-Play Sports Bet: In-play sports bets take place during the game and offers game-specific odds and options for bets during the game.
Prop Bet: Is a bet on a specific player or event. TheLines.com uses this example:
How Many Yards Will Tom Brady Pass For?
Over 197.5 -110
Under 197.5 -110
Looking at that example, my next question was …
What do the plus and minus mean in sports betting?
In the example above, a $110 bet would pay $100. When a sports bettor goes to collect, he will receive $210 — the $110 bet plus $100 for the win.
Most bets include a handicap, so the odds on both sides of the bet are even or close to it. Moneyline bets are different because there is no point spread to even out the odds.
As an example:
Patriots -600
Redskins +400
Looking at the odds, the Patriots are the favorite to win the game. The team with a minus (-) is usually the favorite, while the team with a plus (+) is often the underdog.
What Does Plus 600 Mean In Betting
What Does -110 Mean for a Sportsbook?
What Does Plus 1200 Mean In Betting Odds
If you are coming from the perspective of a sportsbook (bookie), the -110 number is actually used for making sure they are able to make money off of the bettors regularly – this is essential for staying in business. The 'juice,' which is what this is usually referred to, is the amount of commission that the book earns on a bet or bets that have been wagered. The sportsbooks goal is to have 50% of the bets on each side guaranteeing them a profit from the 'juice'
Put simply, you can think of it this like this. Consider it as a fee to broker the wager. This allows the book to still wind up with a profit between the one winning bet that's cashed out, and another losing bet that's based on the same -110.
If a bettor were to keep splitting bets with the sportsbook and there was never any juice associated with this, then it'd be pretty hard to make profit.
What Does -110 Mean for a Bettor?
What Does Plus 100 Mean In Betting
For bettors, the -110 is similar to wagering on a smaller moneyline, but usually with a total or spread involved where you are going to choose one side to cover the point spread. For example if the Lakers were -2 and -110 against the Hornets and you wanted to bet on the Lakers -2 -110 for $200, you would have to Risk $220 to win $200.
Reduced Juice
In some cases, a sportsbook may provide a bettor with 'reduced juice,' or even 'nickel lines' at specific times when they drop the -110 to -105. This is typically done in an effort to get more bets to come in. As a result, if you are betting, it is a good idea that you shop around to find the best lines before you put up a wager. After all, the ultimate goal is for you to make as much money as you can and put yourself in the position to pay much less so you can win the same amount. This is one of the best ways to help ensure this happens.
What Does Plus 1200 Mean In Betting Terms
In some cases, it may be necessary for you to pay a premium of -120 or even -130. However, as long as your bet is a winner, it doesn't really matter. Losing is what is going to cost you, so you should minimize your losses as much as possible.
As someone who reports on the latest NJ sports betting news, I can easily answer questions about the latest casino partnership or online sports betting platform launch.
(In case you didn't know, DraftKings Sportsbook just launched its sports betting app in New Jersey.)
What I can't answer is any question about what it means to actually place a sports bet. Since I am writing less about online poker these days and more about legalized sports betting, it seems appropriate that I understand what all the fuss is about.
I began my quest by seeking the answers to what might seem like some fundamental questions. As someone whose only gambling vice to date is poker, the thought of placing my first informed sports bet is intimidating, to say the least.
I say 'informed' because I will confess to placing bets while at the horse races. So that you know, I usually choose the horse based on its colors and nothing more.
But that is about to change.
So, what is a line anyway?
Now, don't laugh. It is the one question I have had for quite a while and have been too embarrassed to ask.
Theline is merely the number assigned by the bookmakers handicapping the team perceived as more likely to win.
For example, if Team A is perceived to be seven points better than Team B, the bookmaker can handicap Team A by seven points. The line becomes Team A to win by more than seven points or Team B to lose by less than seven points.
Come to find out, that example is a point spread bet. Of course, that opened a whole new can of worms … the different types of sports bets.
So, I went down that rabbit hole next.
What are the different types of bets?
There are a ton of resources on sports betting out there. I am not going to lie, my quest to understand the types of bets ended up confusing me more than helping.
That is until I found some straightforward explanations from TheLines.com.
Here are the types of sports bets I found:
Point Spread Bet: Described above, the point spread bet is the most popular type of sports bet. It's how the sportsbook evens the playing field.
Moneyline Sports Bet: Without knowing it, I have placed many, many moneyline bets throughout my life. To place a moneyline bet, the sports bettor picks a team a to win. It's as simple as that.
Parlay Sports Bet: A parlay bet is a single bet that relies on two or more specific outcomes to be a winner. For instance, a sports bettor might bet Team A to win by more than 10 points AND Team C to win by more than six. Both teams must win to collect on the bet.
In-Play Sports Bet: In-play sports bets take place during the game and offers game-specific odds and options for bets during the game.
Prop Bet: Is a bet on a specific player or event. TheLines.com uses this example:
How Many Yards Will Tom Brady Pass For?
Over 197.5 -110
Under 197.5 -110
Looking at that example, my next question was …
What do the plus and minus mean in sports betting?
In the example above, a $110 bet would pay $100. When a sports bettor goes to collect, he will receive $210 — the $110 bet plus $100 for the win.
Most bets include a handicap, so the odds on both sides of the bet are even or close to it. Moneyline bets are different because there is no point spread to even out the odds.
As an example:
Patriots -600
Redskins +400
Looking at the odds, the Patriots are the favorite to win the game. The team with a minus (-) is usually the favorite, while the team with a plus (+) is often the underdog.
A bet on a favorite will pay out less. In the above example, a $600 bet on the Patriots will pay $100, while a $100 bet on the Redskins would pay $400.
The more I learn, the more I need to learn
I surprised myself by looking at some images of boards from a few sportsbooks and realized I understood some of it. There is still so much to learn.
I find myself consulting a sports betting dictionary often as I come across terms I do not understand. (Trust me; there are a lot of them.)
I'm still apprehensive toward placing that first bet. The more I read, the more I want to know, and the amount of information out there is overwhelming.
The NFL regular season kicks off in just a month. My goal is to place my first sports bet then, even if it is only theoretical. The big problem is I am not sure I will be in a state that has legalized sports betting.
Until then, though, I still have a lot to learn. Sure, I could just dive into sports betting head first, but I like money too much for that approach.
