Is Sports Betting Worth It?
The sports betting industry is booming and you can’t turn on the TV without seeing an advertisement for a new app or casino. These companies have big budgets to buy commercial time on television, and they’re making money hand over fist. But what about you? Is sports betting worth it? It can be, but it’s important to understand the risks and the basics of sports wagering.
A moneyline bet is a simple wager that predicts the winner of an event. Unlike spread bets, which handicap one team and favor another to even the playing field, moneyline bets simply reflect the probability of a certain outcome, with higher-risk bets paying smaller returns and lower-risk bets paying larger returns. Moneyline bets can be placed at any point in the game and payouts are generally received much sooner than other types of bets, although winning bets on a Super Bowl futures market may not pay out until the event is over.
Over/Under (O/U) bets predict the total combined points scored in a game. These bets are typically priced in increments of half a point, although very few sports have a 0.5 point scoring system to eliminate the possibility of a tie. If a team is the underdog, it will be listed as such in the betting lines and have a negative (+) value. The Over/Under number will be displayed in a variety of ways, depending on the sport and bookmaker.
The Over/Under is also a popular choice for predicting how many touchdowns will be scored in a game. It’s important to remember that a game can change dramatically from its initial pace and that a final score can often be unexpected. A popular saying regarding Over/Under betting is that “it’s never over until it’s over.”
If a team wins a game and covers the spread, this is considered a “win” and you have won your bet. This is not always the case, however. Some teams are just more efficient than others at scoring, or their opponents aren’t good at defending them, which can lead to a close game that ends up being a low-scoring affair.
There have been numerous scandals involving sports betting, including point shaving (players shaving points off the scoreboard), spot-fixing (a player or referee fixing a single play) and overall match-fixing (the complete results of a game are fixed). The integrity of sports is a major concern for gamblers, who must be aware of these possibilities in order to make wise decisions about their wagers.
Before you place your first bet, it’s a good idea to open a specific bank account that is reserved only for placing sports bets. You should also be sure to budget for the amount of money you’re willing to spend on your wagers, as a bad bet can quickly wipe out your entire bankroll. If you’re serious about making money, you should consider investing in a sports-specific betting software program that can help you find the best bets and track your profits.