TheBearded1 Posted March 11 Share Posted March 11 What are the - and + numbers before games? I understand that a - indicates that a team is predicted to win and a + indicates that they'll loose. How does one bet on a winning or loosing team? Like, if a team is -221 and I bet that they'll lose, and they do lose, how does this all work? Quote Link to comment Share on other sites More sharing options...
Popular Post BCNeil Posted March 11 Popular Post Share Posted March 11 (edited) If a team is -221, that means you have to bet $221 to win $100 You don't really bet they will lose, you bet on the opponent to win. So you would be betting on the underdog, and their odds would be around +170. So you would need to bet $100 to win $170 and the difference between 221 and 170, is the huge profit they make. My day job is an actuary, it's a math based job. I can tell you, the only way to make money sports betting long term.... Be the bookie. Edited March 11 by BCNeil 2 5 1 Quote Link to comment Share on other sites More sharing options...
spook007 Posted March 11 Share Posted March 11 15 minutes ago, BCNeil said: If a team is -221, that means you have to bet $221 to win $100 You don't really bet they will lose, you bet on the opponent to win. So you would be betting on the underdog, and their odds would be around +170. So you would need to bet $100 to win $170 and the difference between 221 and 170, is the huge profit they make. My day job is an actuary, it's a math based job. I can tell you, the only way to make money sports betting long term.... Be the bookie. The bookies never lose..... 2 Quote Link to comment Share on other sites More sharing options...
6of1_halfdozenofother Posted March 11 Share Posted March 11 17 minutes ago, BCNeil said: Be the bookie. Kinda like Dick Tocch? (too soon? ) 2 1 Quote Link to comment Share on other sites More sharing options...
King Heffy Posted March 11 Share Posted March 11 If you don't understand these numbers, my suggestion would be not to gamble on sports. 2 1 Quote Link to comment Share on other sites More sharing options...
Popular Post OldFaithfulcap Posted March 11 Popular Post Share Posted March 11 (edited) You hear the house always wins but you rarely understand how it plays out. I used to gamble on hockey back in the early 2000s. I hadn't gambled before but it was legal in the state and they allowed betting on NHL games. There were limited options, win/lose though i think it only covered regulation so an overtime win didn't count. I didn't bet on the Canucks, as i didn't like that mix and you never knew which cloutier would show up. So you'd look for sure-things that had some decent odds. Like red wings vs columbus. Was usually a guaranteed blowout in those days so you'd get 120 to 140 odds. Definitely seemed liked easy money so if you put down $100 you'd get $20 back. Was fun to pick up the little wins but then over time you figured "well more money bet means more payout". So you'd put down $500 and win $600 back ($500 x 0.20). Was fun of course until that game where the wings lost. Then you'd put down $500 and get nothing." Hey it's just one game" you'd think but then you look at the cold hard numbers. I won $120 but losing $500 meant that i had lost $380. "Well you'll get it back" you say, then you realize to win $500 back at the 1.20 odds you end up having to bet $2,380. That's too much so then you then look at higher risks bets which pay more like 2.20 but then its a calgary-edmonton game and you never know. You end up chasing the losses and stop keeping track as you never talk about the losses. That's a common case which applies no matter how you bet, the system is designed so that long shots stay long shots and sure things never pay out enough to cover when they don't. Add in depressed gambling risk where you enjoy the thrill and you keep betting until you lose and it's a disaster. I stopped betting but took me a while to pay off what I accrued. My advice is to treat gambling like a casino visit. Make it a 2x a year thing. Treat the money like you've lost it and bet only on long odds. Anything you get back is great. Have fun doing it but never make it a habit. Haven't bet on anything since 2007, besides $10 on huge dollar powerballs about once every few years. Edited March 11 by OldFaithfulcap c 2 4 Quote Link to comment Share on other sites More sharing options...
joe-max Posted March 11 Share Posted March 11 53 minutes ago, King Heffy said: If you don't understand these numbers, my suggestion would be not to gamble on sports. Do not gamble on sports. Period. 1 1 Quote Link to comment Share on other sites More sharing options...
Theo5789 Posted March 11 Share Posted March 11 Shane.pinto@ottawasens.ca I would fire him an email. I'm sure he can help you with your betting needs. 1 1 Quote Link to comment Share on other sites More sharing options...
King Heffy Posted March 11 Share Posted March 11 1 minute ago, joe-max said: Do not gamble on sports. Period. I did one year when Sportsaction was giving $250 worth of free bets as long as you put in $250 of your own and bet it. Cashed out at $279 and never looked back. 10% return in less than a year isn't bad at all. There's nothing wrong with gambling on sports as long as you set a budget and treat it as entertainment. No different than a poker game between friends. 1 1 Quote Link to comment Share on other sites More sharing options...
Bob Long Posted March 11 Share Posted March 11 How does it work? Shady companies take your money. The house always wins. 5 2 2 Quote Link to comment Share on other sites More sharing options...
Bob Long Posted March 11 Share Posted March 11 @Master Mind anything to actually say? 1 Quote Link to comment Share on other sites More sharing options...
joe-max Posted March 11 Share Posted March 11 1 hour ago, King Heffy said: I did one year when Sportsaction was giving $250 worth of free bets as long as you put in $250 of your own and bet it. Cashed out at $279 and never looked back. 10% return in less than a year isn't bad at all. There's nothing wrong with gambling on sports as long as you set a budget and treat it as entertainment. No different than a poker game between friends. To each their own. If I play poker (or Schafkopf) with friends, we write down, but never pay out. The fun of mocking the others and frustration is the same. Good for you, if you managed to stop before losing. Most don't. Former teammates used to boast with how much the won again, but never mentioned when they lost. As for sports gambling, in particular, I have never understood it. Why the need to add excitement by betting if you enjoy the sport as it is? Or you don't, you don't have to watch it. Gambling in general seems to be a basic need for many, still don't like it, especially the ubiquitous role it has nowadays. Gambling ads left and right, gambling mechanisms targetting kids and teenagers with their free2play-crap all over the place, an industry exploiting the young, weak and vulnerable. Know your limit my ass. Quote Link to comment Share on other sites More sharing options...
Master Mind Posted March 11 Share Posted March 11 3 hours ago, Bob Long said: How does it work? Shady companies take your money. The house always wins. 2 hours ago, Bob Long said: @Master Mind anything to actually say? As someone who's made a considerable amount of money through this, I can ensure you it is not simply shady companies taking your money. The house wins, but players can too. A few tips for people newer to betting: - Treat it as paying for entertainment, not an investment. Similar to seeing a movie, could turn out good/bad. - If you watch more static sports like NFL/MLB, those are safer/more predictable bets. Less randomness during a game. - Season long games are safer than betting on individual games, as you have some control over the outcome (similar to blackjack being a better option than slots). 2 1 Quote Link to comment Share on other sites More sharing options...
Zfetch Posted March 11 Share Posted March 11 3 hours ago, Bob Long said: How does it work? Shady companies take your money. The house always wins. Not necessarily. Depends on the EV. You could run up the promos (-EV for the Sportsbook) until you get banned. House does not win in this case but where is the fun in that? To answer your rhetorical question, there is a vig (or commission) built into the odds. You’ll rarely see a +100/+100 (I’ve seen it only on superbowl coin flips). You will often see a -108/-112 spread. I’m using binary examples. Use a site like aceodds to convert moneyline odds to % odds. That coin flip example comes out to exactly 50/50. No edge there. The -108/-112 will come out to something like 48/48 (4% house edge). And that’s how they make their money… to respond to OP in a productive manner… 1 1 1 1 1 Quote Link to comment Share on other sites More sharing options...
The Arrogant Worms Posted March 11 Share Posted March 11 I have won a lot betting on the NFL. I usually stay away from hockey as it is too unpredictable. 1 1 Quote Link to comment Share on other sites More sharing options...
The Arrogant Worms Posted March 11 Share Posted March 11 3 hours ago, Bob Long said: How does it work? Shady companies take your money. The house always wins. How are they shady? Enlighten me. Especially about Play Now run by the BC Government. 1 Quote Link to comment Share on other sites More sharing options...
Zfetch Posted March 11 Share Posted March 11 @Bob Long anything to actually say? 2 1 1 Quote Link to comment Share on other sites More sharing options...
Blue Jay 22 Posted March 11 Share Posted March 11 6 minutes ago, The Arrogant Worms said: I have won a lot betting on the NFL. I usually stay away from hockey as it is too unpredictable. Same. UFC another avenue of easy bets imo. 1 1 1 Quote Link to comment Share on other sites More sharing options...
KZA Posted March 11 Share Posted March 11 Lost a ton betting on RGMG. Live and learn 3 1 Quote Link to comment Share on other sites More sharing options...
Popular Post luckylager Posted March 11 Popular Post Share Posted March 11 I only bet on cock fights. Sports betting is for morons 3 2 Quote Link to comment Share on other sites More sharing options...
GrammaInTheTub Posted March 11 Share Posted March 11 (edited) When putting together parlays, I stick to individual player stat lines and game outcomes (money line) for NBA and NFL. For NHL, I stick to game outcome parlays. At the end of the day, I’ve probably lost more than I’ve won. But I do it casually, like posters above noted, treating it as my cost of entertainment for the night. Edited March 11 by GrammaInTheTub Quote Link to comment Share on other sites More sharing options...
Taphouse Canuck Posted March 12 Share Posted March 12 I had a friend many years ago who was obsessed with horse racing and betting on horses. He had some big wins and even bought himself a racehorse, but it took over his whole life. We would always hear about the wins, but never about the losses. After a while the losses built up and he lost his business, his house, and his marriage. If you're going to get into gambling you need willpower. Know when to quit, and never go beyond what you can easily afford. Quote Link to comment Share on other sites More sharing options...
Kragar Posted March 12 Share Posted March 12 Philip Seymour Hoffman did a good movie, Owning Mahowney, about gambling addiction. True story, about a Canadian banker who effed up big time gambling. Amazing story! I had read the book the movie was based on, as well. Worth the time, too. Like you and other have said/implied... if you're gonna do it, have a budget , stick to it, and stop when it isn't fun anymore. I haven't bet on sports outside of fantasy pools in a long time, and that was only losing Super Bowl bets to friends. Damn Joe Montana!! 1 1 Quote Link to comment Share on other sites More sharing options...
Bob Long Posted March 12 Share Posted March 12 1 hour ago, Master Mind said: As someone who's made a considerable amount of money through this, I can ensure you it is not simply shady companies taking your money. The house wins, but players can too. A few tips for people newer to betting: - Treat it as paying for entertainment, not an investment. Similar to seeing a movie, could turn out good/bad. - If you watch more static sports like NFL/MLB, those are safer/more predictable bets. Less randomness during a game. - Season long games are safer than betting on individual games, as you have some control over the outcome (similar to blackjack being a better option than slots). Thanks for the actual answer. You are very much the exception to the rule. Quote Link to comment Share on other sites More sharing options...
Ghostsof1915 Posted March 12 Share Posted March 12 WIn, the horse comes in first. Place, the horse comes in second or better Show, the horse comes in third or better. Extacta's are you pick the winner and horse that comes in second. You can box that show that if the reverse happens you still win. Triactor is the horses that finish 1st, 2nd, 3rd. Sweep 6 if you bet the winner of all six races you win. Oh, are you talking about hockey? Quote Link to comment Share on other sites More sharing options...
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