Sports Betting Terms You Should Know
The sports betting industry is growing at a rapid rate and offers opportunities for both new and experienced bettors. While the majority of bettors lose, savvy players who understand the numbers and have a winning strategy can make money. Whether you want to place bets in a brick-and-mortar sportsbook or wager online, there are several terms you should familiarize yourself with to make the most of your gambling experience.
The term “sportsbook” refers to any establishment that accepts bets on various sporting events. In the United States, there are hundreds of sportsbooks and most offer a wide range of betting options. Some of these include:
A sportsbook’s odds are calculated by determining the probability of an event occurring. For example, if a team is favored to win by seven points, the oddsmaker will set the line at -7.5. Similarly, if a team is expected to lose by eight points or more, the oddsmaker will set the line at +7.5. Using these odds and the probability of an outcome, bettors can determine how much to wager on either side.
Another term you’ll encounter in the world of sports betting is the handle, which refers to the total amount of money wagered at a sportsbook on a game. The higher the handle, the more action there is on one side of a game. In order to stay competitive, sportsbooks often adjust their odds to reflect the amount of money being wagered.
In the world of sports betting, a bet slip is any piece of paper that bettors use to record their selections in a game. Bet slips can be used in brick-and-mortar sportsbooks or on mobile apps, and they’re also commonly referred to as “bookies.” A bet slip is important for tracking your bets and can even allow you to cash out before the end of a game.
Props, or proposition bets, are any type of wager not a standard point spread, moneyline or total. They’re typically available on games that have a significant amount of hype and are updated throughout the day based on injuries, weather and other factors. For example, if the odds on a player’s strikeout total are set at over 7.5, you’ll pay a higher price to bet the under than you would on the over.
Props are an excellent way to test your knowledge of a sport and its unique circumstances. However, it’s essential to remember that there is no such thing as a sure bet, and you should never bet more than you can afford to lose. Furthermore, you should be objective when assessing your skills and avoid betting on teams just because you’re a fan. By following the tips in this article, you’ll be well on your way to making smarter wagers that can lead to consistent profits. Good luck!