SPORTS PICKING EXPLAINED
Sports picking encompasses various forms and sizes, offering individuals the opportunity to wager money on chosen outcomes and reap rewards if those outcomes materialize. When picking on the victor of a game, it's termed as a moneyline pick. Predicting whether a team will win or lose by a specified number of points constitutes a spread pick. Meanwhile, bundling multiple outcomes into a single pick is referred to as a parlay.
While moneylines, spreads, and parlays are the typical choices, there are also prop picks, enabling engagement with more specific outcomes, such as the points scored by a particular player. The realm of sports picking is extensive, catering to diverse preferences.
For both novice and seasoned gamblers, there are numerous motivations to engage in sports picking. Primarily, it enhances the thrill of watching sports, providing an additional element to root for, irrespective of the ultimate result.
Learn the Terminology
Understanding the terminology is crucial for newcomers to sports picking. The plethora of phrases and terms can initially seem daunting. However, with our beginner-friendly explanations covering the fundamentals of each sport, you'll be equipped to participate and, hopefully, secure some winnings!
Understanding Odds: A Beginner's Guide to Picking
For newcomers to the world of sports picking, deciphering odds can pose a challenge. Different platforms and picking sheets present odds in varying formats, typically as American, decimal, or fractional odds. This guide aims to demystify how to interpret picking odds and what to anticipate in terms of potential payouts.
Disclaimer on Payouts and Profits:
It's important to note that payouts and profits can slightly vary depending on the methodology used for conversion or parlay calculations. The figures provided in this guide are for illustrative purposes only and may differ slightly from actual payouts and profits.
Exploring Odds:
Odds serve to quantify the likelihood of different outcomes in a sporting event. In sports picking, odds are often expressed as a ratio, with the less favorable outcome listed first. For example, odds of 3 to 1 indicate that the chances of losing are three times greater than the chances of winning.
Types of Odds:
American Odds:
While initially appearing complex, American odds become more comprehensible with familiarity. They are centered around a $100 pick, with the favored outcome and the underdog displayed differently. For instance, a pick with odds of -120 implies you need to wager $120 to win $100, whereas odds of +120 suggest you'll win $120 with a $100 pick.
Calculating Winnings and Implied Probability:
For negative odds, the amount needed to wager to win $100 is expressed, while positive odds indicate the winnings for a $100 pick. Implied probability can be calculated by dividing 100 by the sum of the odds plus 100 for positive odds, and by dividing the odds by the sum of the odds minus 100 for negative odds.
Decimal Odds:
Decimal odds are often preferred by beginners for their simplicity. They are represented as a whole number followed by two decimal places. To calculate potential winnings, multiply the stake by the odds, and to find the implied probability, divide 1 by the odds.
Fractional Odds:
Fractional odds, common outside the United States, are straightforward to understand. They are usually depicted with a dash, colon, or slash, such as 2-1, 2:1, or 2/1. To calculate winnings, multiply the picking amount by the fraction, and to determine implied probability, divide the denominator by the sum of the numerator and denominator.
True Odds vs Implied Odds:
True odds represent the actual probability of an outcome, while implied odds are based on the odds offered by sportsbooks. Picers can identify favorable opportunities by comparing true odds with implied odds.
Understanding the nuances of odds empowers pickers to make informed decisions and maximize their potential returns. For further assistance in calculating payouts, consider utilizing our odds calculator. Happy picking!
Moneyline
A moneyline pick focuses solely on the odds, indicating the likelihood of a team winning without any additional points spread. For instance, a moneyline of +150 signifies odds of +150 ($100 to win $150) for the specified team to win. Conversely, a moneyline of -150 represents odds of -150 ($150 to win $100) for the designated team to win.
Spread Picking
Point spreads, also known as lines or handicaps, are typically accompanied by odds, with most spreads hovering around -110.
For example, let's imagine a football game between the New York Giants and the Dallas Cowboys. If the line is set at +3.5 for the Giants, they must win or lose by no more than 3 points to 'cover' the spread. If the final score is Giants 24, Cowboys 21, Picks on the Giants to cover would result in a win.
Over/Under
An over/under pick is a wager on the total amount of something happening in a game, like points scored or yards gained. These picks also come with odds, usually around -110.
For example, if you want to pick on Miami's running back's total rushing yards, let's say it's set at 97.5 yards. If the running back gains 98 yards or more by the end of the game, the 'Over' wins.
Parlay
A 'parlay' pick means picking on several outcomes to happen. To win, all your chosen outcomes must be right. The odds for each pick are multiplied together to find the odds for the parlay.
For example, if you pick on Dallas at -120 odds and Miami at +150 odds, the combined odds would be +450. If both Dallas and Miami win, a $20 pick could earn you $90.