| Sports betting is a popular way to try and make a little | | | | odds in order to encourage action for whichever team |
| bit of money as you engage in your favorite past time. | | | | is receiving less bets. |
| It is nothing new in terms of human history; as long as | | | | Thus, it is possible for those who are patient and skilful |
| there has been competition between people, there has | | | | enough to find odds which heighten their chances of |
| been an interest in guessing the outcome of that | | | | winning money. Essentially, what a person is trying to |
| competition. | | | | do here is find good value for their bets. |
| Let's take a look way back, to a time when a man | | | | Let's take a look at an example. Let's say that you |
| named Thag challenged Mok to a rock throwing | | | | want to bet the money line on a professional football |
| contest. The rest of the tribe would talk amongst | | | | game. Football betting on the line is expressed like this: |
| themselves, each person selecting the man they | | | | Washington Redskins -220 |
| thought most likely to win. Perhaps Thag was slighter | | | | Pittsburgh Steelers +180 |
| than Mok, so several people thought Mok could throw | | | | Neither of these bets would be good value, or good |
| farther. The advantage in Mok's size was obvious to | | | | odds. In order for a bettor to take home $100 on the |
| all, so those wishing to bet on Mok had to come up | | | | Redskins, he would have to bet $220, or more than |
| with some way to get someone to take their bet and | | | | twice that amount. While the 'Skins may indeed be the |
| place a few walnuts on Thag. They did this by | | | | more skilful team, luck can always (and frequently |
| sweetening the pot; they might say, if Thag out throws | | | | does) come into play in determining the outcome. If the |
| Mok, then I will give you four walnuts. If Mok out throws | | | | Redskins ended up losing, the cost would be very bad |
| Thag, on the other hand, then you only owe me two | | | | for the bettor. The Steelers also don't offer a very |
| walnuts. | | | | good bet, because the odds are stacked against them. |
| That is a very primitive (ha!) example of what odds | | | | Look for bets that are a lot better value than these. |
| are all about. The strategies have evolved enormously | | | | The closer to $100 you can get for the favourite, the |
| over time, but the basic concept has stayed the same. | | | | better the value on that bet is likely to be. On the other |
| That is, odds are used to attract bets on a side that | | | | hand, the higher the payout for the underdog, the more |
| might not otherwise garnish much support. | | | | valuable the bet is as well. |
| Odds are really the basic cornerstone of sports | | | | The great thing about the current age is that you can |
| betting. The past time is so involved that it actually has | | | | compare the odds offered by almost any operating |
| little to do with which team is better than another. | | | | bookie in the world, immediately. Most bookmakers |
| Instead, the odds indicate how many people are | | | | post their odds online, and many online sports betting |
| BETTING on one team over another. It is in the interest | | | | sites post these odds side by side so wagerers can |
| of the bookmakers to attract as much attention to | | | | find the best values. |
| both sides as possible, so they tend to change the | | | | |