Learning the Basics of Sports Gambling: How Does Football Betting Work?
All sports have their different systems when it comes to betting. Some sports even have various systems of their own, depending on the type of game that bettors want to play. In order for you to fully understand all of these sports gambling systems, you have to understand the jargons first.
- Action – Action is basically the actual betting activity. Phrases like “show me where the action happens” or “I want in on action” are associated with this term. Since sports betting is illegal in most places, you cannot look for a local bookie on your phonebook every time.
- Handicap – In sports gambling, “to handicap” means giving points advantage to a particular team so that the betting field will be leveled.
- Handle – Handle refers to the total monetary amount wagered on the bets. The highest handle for bookies every year is generated in Super Bowl betting.
- Sports Book – Establishments taking bets are commonly known as sports book and the people who are taking on these bets are called bookies.
- Juice – Juice is the total percentage of bets that are taken by bookies as their profit. This is also referred to as “vig”, a shorter term for vigorish. There are also times when bookies take straight handle percentage but most of the time, the vig is normally figured into odds.
- The spread – Point spread is typically used in sports that are high-scoring such as basketball and football. This is actually a handicap that used in making all games competitive for the bettors. The spread provides a team a few points advantage. The standard notation for point spread will first show the favored team then followed by the negative number, which is the actual point spread. Home teams are always shown in capitalized letters.
- For example, if the Green Bay will play against Buffalo in Buffalo, they will be favored to win by 7 points. When someone bets on Green Bay to win, Green Bay needs to win by more than 7 points so that the bet will pay off. It is as if Buffalo are given a 7-point advantage when the game starts.
- The Money Line – In sports such as baseball, scoring is not high enough for the point spread to be used so the money line will be used instead.
- Pick ‘em – There are times when games on the money line are listed as “pick ‘em” or “pick”, which means teams are all considered equal and the money line on teams will be -1.10. If you bet on either team, you are required $1.10 every $1 in the potential winnings.
- Cards, Parlays, and Pools – Parlays are combination bets. Rather than making 5 bets separately on 5 different games, bettors will place one parlay bet, assuming that they can predict the result of all games. If one of any game loses, the entire parlay will also lose. Payouts is a better on parlays because odds of picking many winners are harder to beat.
People normally know parlays because of football cards or betting pools. Office pools do not involve bookies beyond the persons who organize pools and no one can take juice from the pools. All money will be distributed to the winner(s).
What is Football Betting?
Football betting is the most popular sports gambling today. Professional gamblers are only betting for 5 months every year for this. If you include NFL and College together, there are about hundred games for them to bet on in a span of 2 days. This is what makes football betting very appealing to professional gamblers. The action-packed 2 days only come every fall for 5 months. Gamblers have so much to watch out for within 48 hours and this rush makes bets even more exciting.
7 Popular Football Bets You Can Place
There are various ways on how you can bet on football games. Here are the most popular types of football wagers that you can place when you do football betting:
- Point Spreads
While money line is the popular way of sports gambling in most sports, the king in football betting is the point spreads. Both sides are normally set at -110 where the bet is $110 for you to win $110. Bettors bet on their favorite while they surrender the underdog or points like -4.0 and receive points like +4.0.
Under/over wager is also popular. Here, sports book will set points total and the bettors are allowed to bet whether on combined score of teams will go or under the set total of bookmakers. The totals in professional football normally range from 35.0 in expected low-scoring games to 50.0 in games that are expected to be high-scoring.
- Money Lines
Though point spreads are more popular, you can still use money line betting. This type of football betting is mostly placed by underdog bettors in games with smaller spreads. Bettors who feel that their underdog has the chance to win outright may give out their points for better payout on outright wins.
Football parlays are wagers wherein 2 or more football teams are chosen and all of them should win so that the bet can pay out. Parlays are very popular. There are some bettors who like parlaying on low-scoring teams with under or high-scoring teams with over to make more money on both sides.
- Propositions “Props”
Proposition betting is also a popular football bet because bettors can normally bet on different teams, player statistics, and particular game event. A common football proposition bet usually includes with of team will be scoring first, who is the player to score first, whether the first possession of a team is a field goal, touchdown, or turnover and more. Bettors also wager on under/over on stats like passing attempts, quarterback’s total yards, carries, or running back’s total yards.
- Football Betting Systems
Some bettors usually like taking the guesswork out of when and where they would place wagers and opt to follow or develop a football betting system. These systems are looking out for specific game factors or statistics meeting specific criteria. If the criteria are met, the bet will be placed.
- Teasers and Pleasers
Teasers and pleasers are another way of sports gambling on football games. These are in the form of parlay betting, using other point spreads. In teasers, point spreads move in favor of the bettors, resulting in lesser payout while in pleasers, point spreads move in favor of the bookmakers, resulting in a higher payout.