Good morning. Up to this day I still don't quite understand odds, will they cover the spread,win.They have penn state @ -4.5 which indicates a loss to Wisconsin? Don't worry someday I will figure it out. I was never a fan of betting.
Good morning. Up to this day I still don't quite understand odds, will they cover the spread,win.They have penn state @ -4.5 which indicates a loss to Wisconsin? Don't worry someday I will figure it out. I was never a fan of betting.
That means we are favored to win, thus they are "taking" 4.5 points away from us. Meaning we need to win by 5 or more for us to cover the spread.
Good morning. Up to this day I still don't quite understand odds, will they cover the spread,win.They have penn state @ -4.5 which indicates a loss to Wisconsin? Don't worry someday I will figure it out. I was never a fan of betting.
That means we are favored to win, thus they are "taking" 4.5 points away from us. Meaning we need to win by 5 or more for us to cover the spread.
Thanks, it's confusing to me.
Good morning. Up to this day I still don't quite understand odds, will they cover the spread,win.They have penn state @ -4.5 which indicates a loss to Wisconsin? Don't worry someday I will figure it out. I was never a fan of betting.
That means we are favored to win, thus they are "taking" 4.5 points away from us. Meaning we need to win by 5 or more for us to cover the spread.
Thanks, it's confusing to me.
No worries.
To explain further: Betting is usually one of these two (generally speaking): Point spreads and odds.
1. In a point spread, the favored team has the minus beside their name. That team is giving points to the other team to even the chances. It's basically set where the bookies think they have the best chance of getting enough people to bet both sides like they want. That's why the line moves throughout the week... if people are betting the favorite too heavy, then the line will move from -4 to -7, -8, etc. so that the bookies start getting more people to bet the underdog. But they got to give 'em enough points to make it worth it for most people. In the end, the bookies want a close distribution, but enough people betting the opposite of what they think will happen. That way they make money. If a bookie gets 50.1% of everyone to lose, they are making some money. Multiply that over every bet and it can add up.
The payout for betting the spread is typically 90% of what you bet. So if you bet $110 that Penn State would beat the spread, you get $200 back when they do. (The bookie's pocket 10% on top of how much they hope people bet incorrect.)
2. Odds are a bit different. I'm talking football odds, the ones you see come out like this:
Alabama: +300
Clemson +350
Ohio State +400
Penn State +5000
Kansas +100000
On that type of list, the numbers relate to how likely each team is to win the championship. This means Alabama has a 30-1 chance of winning the NC, Clemson has a 35-1 chance, Ohio State a 40-1 chance, Penn State a 500-1 chance, and Kansas a 10000-1 chance. So what that's essentially saying is if the season was played 501 times, the odds are Penn State would win 1.
Based on that, the odds pay out differently from the spread. If you bet $100 that Penn State will win the NC, when they do you get $50,000.
