Thanks to the soaring growth of internet connectivity, it is has become such an easy task to bet on almost any kind of sport. You can place a bet on football, NFL, golf, name them. It has become a 24/7 type of business. With billions of dollars in investments, betting is a huge business by itself.
Although betting is such a lucrative and attractive form of business, few people understand how betting lines work. Actually, even the so-called pros have a rough idea on the same. For effective and profitable betting, having a concrete understanding of lines is necessary.
We have come up with this article to help you have at least an intermediate understanding. Types, how lines work, how they are created and other relevant information. Without further ado, let’s dig in.
Types of betting lines
To better understand betting lines, we saw it wise to present you the existing types which include:
- Moneyline bets
The moneyline is a type of betting line that only requires you to pick a team, then you wait for it to win. You reap even if the team wins by one point or fifty points. But for maximum profits, stake a huge amount of money. As it goes with any business.
- Point spread bets
Ideally, this type of bet involves forecasting the number of points the stronger team will outdo the weak one. For example, if team A is a ten point favorite against team B in the NCAAF, for you to win team A would have to win over team B by more than ten points. You can use the college football lines to place such bets on your favorite teams.
- Point total bets
Basically, this type involves forecasting how many combined points will be attained by both teams. You can either bet over or below the total points as provided by sportsbooks. For example, if sportsbooks predicted total points to be scored in a match between teams A and B would be 80, and the total tally comes to 88, anyone who had bet on above the predicted points would have won.
Who and How are These Bet Lines Created?
Who Creates the Bet Lines
Many think that such lines are from thin air. No! Sportsbooks have their internal oddsmakers who come up with them. It is a well thought after the process and involves a lot of brainstorming.
How are These Bet Lines Created?
Decades ago it was hard for the oddsmakers to come up with lines. But thanks to the growth in technology, they have access to any information they need about the teams at hand. They evaluate all necessary data and come up with the most appropriate line. It’s astonishing how close or accurate these predictions are.
So, how do such companies make money?
Now, for the bet to sound juicy, they have to play the odds in such a way there is a balance between the people who will bet on teams A and B. to make that extra dollar, say you are betting to win a possible $200, you will be required to stake at least $210. They will pocket the $10. Simple as that.
