An Introduction to Sports Betting
by Bodog Sportsbook | Jul 17 2007
Do you want to know why the point spread moved from -7 to -8 on your favorite team last week? Have you ever wondered what goes on behind the scenes at a sportsbook? If you've answered yes to either question, then you've come to the right place. As you all know, when you place a straight wager on the point spread of a football or basketball game, you need to risk $110 to win $100. The $10 difference between risk and payout is known as the juice, or the vigorish (or just "vig" for short) and is the reason sportsbooks are in business.
Sportsbooks essentially act as a broker between you and another player who wants to bet on the other team and collects the small commission as compensation for brokering the deal and handling the transfer of funds between the two of you. This is important to understand, because it leads me to the biggest misconception in
sports wagering. The point spread is not the handicapper's predicted margin of victory, but it is in fact the handicapper's prediction of what number will be required to split the wagering evenly on both teams.
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