Betting 101

Sports wagering is full of unique terms and strategies, and even the most experienced bettor may not understand all of them. Below we will update this page with a number of definitions and strategies that we will be offering our players:

Philosophy

Some bettors like to use a get in get out scenario where they only play in short bursts. While some may have success with this strategy we believe in a more long-term approach. Steady analysis and focus on areas where you can take advantage based on your betting principles (home vs away, QB vs defenses, overs vs unders, etc.). There are way too many principles to outline here, but as you play with us you will learn to adopt your own and understand our motivations. The most important message, is to manage your bankroll. This is gambling so there are no sure things. Even at the highest confidence levels, you can’t predict all the craziness in sports. Which is why it’s fun.

Some advocate flat betting, which a good approach for novice and sharp players alike, but it does make it difficult to get ahead of the book. I suggest a hybrid approach of flat betting but in your highest confidence plays you may consider a 2-time approach. For example, $50 is your flat bet rate, but if you find a game you love, and we agree with our analysis and picks, then place at 2 times your normal rate (so $100) not 5 times ($250) or 10 times ($500). And most importantly, keep this discipline when you are on a roll or hitting bottom. There are highs and lows and the natural tendency is to get riskier when things are going well and less when things are going badly. That can only make the whole deeper if you are not maintaining discipline.

We provide you with confidence levels of 1-3 stars to let you know the strength of our analysis and confidence. But that doesn’t mean every 3-star pick is a 2x bet. As a general rule, we would only play 2x our flat bet on 20% of our 3-star picks, but that isn’t to say that there are not multiple opportunities back to back or in the same weekend. It is up to you!

How to read the line:

Schedule	Current	Total	MoneyLine
241 Team A	+2.5 +100	42 -110	+125
242 Team B	-2.5 -120	42 -110	-145

Terms

Action – Placing a wager

Cover – a win, but more importantly a cover is cover of the point spread. In football, the line may be -3, and your team wins by 4, then you cover

Chalk – Refers to the favorite. Chalk bets are usually the favorite or overs

Contrarian Betting – Is a betting methodology that often bets against the public line moves. Usually more prominent in big events or the playoffs when you have more Public playing in the market

Dime – $1,000

Dog – Underdog, the predicted to lose, denoted in the line or odds with a (+) sign (i.e. +3.5 or +160)

Favorite – the projected winner, denoted in the line or odds with (-) sign (i.e. -7 or -115)

Fade – to fade a player or a team is to lose faith in or bet against. It usually refers to a name player or hot team that the sharp player predicts will not perform up to the public expectations

Edge – A perceived advantage over the sportsbook and the current line

Even Money – a bet that has no juice, denoted as 0 or +100 and means that for every $100 you risk you will be rewarded at $100 or even money

Game Number – is a three-digit number usually provided before the team name that helps you locate the specific game and line

Hook – is a half point and is usually put in place to avoid a push. It is denoted as -3.5 or +3.5. The 0.5 is the hook

Juice – is the tax that a sportsbook applies to placing a wager and is denoted next to the line. -110 means there is a 10% juice on the bet you want to place. You bet $110 to win $100 ($10 representing the juice).

Money Line – is a bet to win the game and forgoes the handicapped line or spread. The money line will have odds associated with it that corresponds with the line. If the odds are -160, you are betting $160 to win $100. It is usually denoted as ML and will be the predominate way you bet on Baseball, Soccer, and Hockey but football and basketball offer ML bets as well.

Nickel – $500

Over/Under – also known as the total, is a bet on the total point scored in a game. If team A score 25 and team B scores 15 the total score is 40. The book will handicap total points scored and you can select to go over or under that number

Parlay – 2 or more bets tied together at an increased payout. You have to cover all bets in a parlay to win.

Pick’em – There is no favored team, denoted as PK in most sportsbooks

Public – Casual betting public

Run/Puck Line – Bets specific to baseball and hockey and are set + or – 1.5 runs/goals at varying odds. This is an alternative to betting the money line and will typically offer reduced odds, but it brings a line of + or – 1.5 runs/goals

Sharp – Professional bettor, uses analysis and knowledge of the industry to develop an edge over the book

Spread/The line – is the handicapped value placed on a game by the sports book in conjunction with the odds. You may see -3, -110 when reviewing the line. -3 = the amount the favored team has to cover, -110 = equals the percentage of juice. If you bet on Team A at -3, -110 you are placing a bet of $110 to win $100 if Team A wins the game by 4 points or more. If Team A loses or wins by 2 or less, you lose $110.Push – Once the game is complete the final score is as predicted by the line. If the line was Team A -3 and Team A wins 10 to 7 (10-7=3) then the line ties and the bet is push (no money changes hands)

Steam – When a line is moving quickly due to public and sharp action

Teaser – a bet that allows you to move the line at a reduced payout. The most common is a two-team teaser in football or basketball where move the line +/- 6 points (football) or +/-4 points (basketball). As a in a parlay you must cover all bets to win. For example, if Team A is favored -7 vs Team B, I can choose to move the line for Team A to -1 or Team B +13 depending upon the position I want to take. You will have to pair this bet with another tease in order to place the wager

*We will play teasers in the NFL as the lines are tighter and we have had good success in pairing teams and moving the lines