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Football Bookie
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By: Nathan Slaughter
Of all sports-related betting, football remains one of the most popular
choices. While the outcome of a single baseball game can be virtually
impossible to predict with any degree of accuracy, and the pari-mutuel system
of horse racing constantly changes the odds to ensure that payouts are
consistent with betting patterns, wagering on football is straightforward, easy
to understand, and offers handicappers that do their homework a real shot at
consistently picking winners.
Reading The Football Bookie Odds
When examining upcoming contests online, or perhaps in the newspaper, the game
is typically expressed in a similar method to the hypothetical game below.
| Favorite: |
Line: |
Underdog: |
Over/Under: |
| Denver Broncos |
7 |
Kansas City Chiefs |
55 ½
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The concept is simple enough, the Denver Broncos are playing the Kansas City
Chiefs, and the Broncos are widely expected to win. Bookies will set a line to
balance the betting evenly between the two teams. If there were no line, most
bettors would simply bet on the favored Broncos. If the Broncos were to win,
the Bookies would stand to lose heavily. By placing the line at 7, the bookies
are giving an incentive for some people to bet on the Chiefs, by giving them
essentially a 7-point head start. The Broncos must win by more than 7 points,
for a wager on them to payoff. Otherwise, those who bet on the Chiefs would
collect the winnings. If the final score were Broncos 28 – Chiefs 24, those who
bet Chiefs would win (even though the Broncos won the game) because the final
margin of victory was less than seven points. The larger the perceived
disparity between the two teams, the larger the line. The standard payoff on a
football wager is even money, or 1-1. Bet $25, receive $25, with one catch. The
bookie will typically withhold a 10% (though this percentage can vary)
concession, known as “juice” from the winning payoff. By setting a line, the
bookies hope to balance the wagering equally, with the losers paying the
winners and the house keeping 10%.
Other Football Bookie Terms
Occasionally, the two teams will be evenly matched, and there will be no line,
only the words “pick-em”. If this is the case, bettors simply pick the team
they believe will win, and no margin of victory is necessary.
Another popular bet is the over/under line, which in the above example has been
set at 55 ½ points. To win this wager, bettors are required to predict whether
the total points scored by both teams will be more or less than 55 ½ points.
Assuming, again, a 28-24 final score, the total would be 52 points, so “under”
would be the winning wager.
Finding An Online Football Bookie
When looking for an online bookie, be sure to find one that gives you as many
betting options as possible; you don’t have to bet them all, but in addition to
the straight wagers above, it’s nice to have 1st and 2nd half wagering, as well
as teasers, parlays, and propositions (such as which team will score first, who
will throw the most interceptions, etc.) You may also want to search for one
that accepts phone wagers, in case their website is having technical
difficulties. Once you have found a bookie that you are comfortable with, do
some homework and let the fun begin
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