Betting is a form of gambling that involves placing a wager on a specific outcome of a sporting event. It is commonly associated with sports, but it also covers games in other genres such as entertainment and finance.
Lines (Odds and Point Spread)
When a betting line is posted, the bookmaker estimates the probability of a particular outcome happening. These odds are based on a variety of factors, including past performance, team strength, and external conditions such as weather or suspensions.
Line movement occurs as a reaction to a majority of money being placed on one side or the other. It can be due to a team winning, losing, or drawing. It can also be due to a number of external factors, such as injury or suspensions.
In sports betting, expected value is the amount of profit a bettor can expect to make over time from a bet. A positive value means a profit, while a negative value indicates a loss.
Value bets are bets on an underdog that have a greater chance of winning than the odds suggest. These bets can be a lot more profitable than backing the favourite, but you should always check to see if they are worth it before you place your bets.
Value bets can come in all shapes and sizes, but they are usually based on the likelihood of a specific team or player to return to form. This can be in the form of a football side returning to winning ways, or a horse that is regarded as having the potential to finish a place higher than its odds suggest.