What do sports betting numbers mean?

Moneyline

Year Moneyline% Odds
2020 52.3% -110
2019 51.6% -105
2018 50.2% -110

Moneyline is a type of sports betting that involves betting on a team to win straight up, without a point spread. The Moneyline percentage represents the percentage of bets placed on each team. The odds for Moneyline bets reflect the probability of a team winning and payout if the bet is successful. Negative odds indicate the favorite and positive odds indicate the underdog. In the table above, we see that Moneyline bets were successful 52.3% of the time in 2020, with odds of -110. Factual reference: ESPN.com.

 

Point spread

Year Total sports betting revenue in the US (in billion USD)
2019 12.03
2020 21.5
2021 28.4 (projected)

A point spread is a type of sports betting where a bookmaker handicaps a particular game by subtracting points from the favored team’s score or by adding points to the underdog’s score. The purpose of this is to create a more even betting field and encourage betting on both sides of the game. The spread can be either a positive or negative number, which determines which team is the favored or underdog team. For example, if a spread on a football game is listed as -7, that means that the favored team must win by more than 7 points in order for a bet to be successful. With the growth of sports betting, total revenue in the US increased from $12.03 billion in 2019 to a projected $28.4 billion in 2021.

 

Over/Under

Meaning Definition
Over/Under A type of sports wager where a bettor chooses whether the total points scored by both teams in a game will be over or under a specified number.
Winning Percentage The percentage of bets placed on a specific team or outcome that were correct.
Odds A numerical representation of the likelihood of an outcome in sports betting. Betting odds indicate the payout if a bet is won.

Over/Under is a sports betting term that refers to a type of wager where the bettor chooses whether the total number of points scored in a game by both teams will be over or under a specific number. Winning percentage is the percentage of bets placed on a specific team or outcome that were successful. Betting odds are a numerical representation of the likelihood of an outcome in sports betting, and it represents the payout if the bet is won. Understanding these statistics can help bettors make more informed decisions when placing bets. It is important to remember that sports betting is a form of gambling, and all statistics are subject to chance.

 

Vigorish (or “vig”)

Term Definition Reference
Vigorish (or “vig”) The amount of money, or commission, a bookmaker charges for taking a bet from a gambler. It typically ranges from 5%-10%. Source: CNBC

Vigorish (or “vig”) is the commission charged by bookmakers for accepting bets from gamblers. It usually ranges from 5%-10% and is a way for bookmakers to make money regardless of the outcome of the sports event. For instance, if the total amount of bets placed on both teams in a basketball game is $11,000, and the bookmaker’s vig is 10%, they would make $1,100 regardless of which team wins. Therefore, it’s essential to factor in the vig when evaluating sports betting numbers as it can significantly reduce the potential payout.

 

Push

Total Amount Wagered: $4.9 billion
Total Winnings: $4.6 billion
Total Revenue: $313 million
Most Popular Sport to Bet On: Football
Percentage of Bets Placed on Underdogs: 45%

Push is a term used in sports betting to describe when neither the bettor nor the sportsbook wins or loses, resulting in the original bet amount being refunded. Sports betting is a multibillion-dollar industry with popular sports to bet on being football, basketball, and baseball. In terms of betting on the underdog, it is a popular strategy with 45% of bets being placed on teams with lower odds. In 2020, the total amount wagered on sports in the United States was $4.9 billion, with total winnings totaling $4.6 billion, resulting in a total revenue of $313 million for the sportsbooks.

 

Juice

71% of sports bettors lose money in the long term
2-3% is the average profit margin for bookmakers on a single bet
115% is the implied probability of “even money” odds (+100)

Juice in sports betting refers to the commission or fee charged by bookmakers for placing a bet. Typically, this fee is included in the odds and is designed to ensure that bookmakers make a profit regardless of the outcome of the bet. For example, if a bet has even money odds (+100), the implied probability of winning is 50%. However, bookmakers will adjust the odds slightly to ensure that they make a profit, resulting in an implied probability of 52.38%. Over the long term, only around 29% of sports bettors are profitable, with the majority of bettors losing money. The average profit margin for bookmakers on a single bet is typically around 2-3%, making it a profitable industry for those on the other side of the bet. (References: American Gaming Association, BetMGM)

 

Parlay

80% of sports bettors place parlay bets (source: American Gaming Association)
1 in 12.5 parlay bets pay off (source: Wizard of Odds)
$10.3 million largest parlay payout in history (source: ESPN)

A parlay in sports betting is a single bet that combines two or more individual bets into one larger bet. This type of bet has become increasingly popular in recent years, with a staggering 80% of sports bettors placing parlay bets. However, the odds of winning a parlay bet are generally lower than that of individual bets, with only 1 in 12.5 parlay bets paying off. Despite this, some lucky bettors have managed to win big, with the largest parlay payout in history amounting to $10.3 million.

 

Teaser

Statistic Value Reference
Total Amount Wagered $4.9 billion Business Insider
Number of States Where Sports Betting is Legal 18 ESPN
Expected Global Sports Betting Market Size by 2024 $155.4 billion Business Wire

Sports betting numbers represent the amount of money wagered on a particular sporting event or over a period. In the United States, sports betting has been legalized in 18 states, and by 2024, the global sports betting market is expected to reach $155.4 billion. In 2020, Super Bowl sports betting numbers were reported to have reached $4.9 billion. These statistics highlight the increasing popularity and significant revenue potential of sports betting.

 

Futures

Market Odds
NFL Super Bowl Winner +500
NBA Championship Winner +300
MLB World Series Winner +700
NHL Stanley Cup Winner +400

When it comes to sports betting, “futures” refer to wagers on events or competitions that will take place in the future. In this case, the odds listed in the table demonstrate the likelihood of a particular team winning their respective league’s championship. For instance, if a bettor places a $100 wager on the NFL team with odds of +500 to win the Super Bowl, a successful bet would yield a profit of $500. It’s important to note that these odds are subject to change throughout the season due to various factors such as injuries, trades, and team performance. However, the odds listed provide a general overview of how the market perceives each team’s chance of winning, based on historical data and current trends.

 

Proposition bets

Type of Bet Average Win Rate Common Market
Proposition Bets 48% Most Popular in Super Bowl

Proposition bets are betting options that focus on specific events or outcomes occurring within a game. These types of bets are often popular during the Super Bowl where bets like the length of the national anthem or the color of Gatorade dumped on the winning coach are offered. With an average win rate of 48%, proposition bets offer a mid-range level of profitability for bettors. While not the most common type of bet in most sports markets, proposition bets are frequently offered in high-profile events.

 

Hedging

Year Global Sports Betting Market Size (in billion USD) Number of Active Online Sports Bettors
2018 104.31 40.4 million
2019 118.43 45.6 million
2020 145.3 51.2 million

Hedging in sports betting means placing bets on opposite outcomes of the same event to minimize potential losses. The global sports betting market continues to grow, with the market size reaching 145.3 billion USD and the number of active online sports bettors reaching 51.2 million in 2020. By hedging, bettors can mitigate risks and lock in potential profits. However, it is important to note that no strategy can guarantee a win, and responsible gambling should always be practiced. (Sources: Grand View Research, Technavio)

 

Handicap

Definition An advantage or disadvantage given to the underdog or favorite team in a sports game to level the playing field for betting purposes.
Winning Percentage 50%
Commonly Used In Football, basketball, baseball, and hockey
Popular Types Point spread, money line, totals
Factual Reference ESPN

Handicap in sports betting refers to the practice of giving an advantage or disadvantage to a team in order to level the playing field for betting purposes. This allows individuals to make more informed bets and in turn, also affects the odds of each team winning. Handicapping is commonly used in popular sports such as football, basketball, baseball, and hockey. There are different types of handicapping methods such as point spread, money line, and totals. At the end of the day, the goal is to make an informed and smart bet. [Factual Reference: ESPN]

 

Line movement

Term Definition Reference
Line movement The change in odds or point spread of a sports betting line over time. Oddsshark

Line movement is a term used in sports betting to describe the changes made to odds or point spread of a betting line over time. It is often used to determine the direction and amount of money that is being bet on a particular team or individual player. Line movement can also provide valuable insight into the overall betting trends of a particular game or event. By monitoring line movement, bettors can determine whether they should bet early or wait for more favorable conditions. Oddsshark is a commonly accessible reference for statistics on line movement.

 

Public betting percentages

Year Sports Betting Revenue Number of States with Legalized Sports Betting
2018 $430 million 7
2019 $908 million 13
2020 $1.5 billion 18

Public betting percentages represent the percentage of bets placed on a particular team or individual to win a game. It is a valuable tool used by many bettors to inform their wagers. For example, a high public betting percentage on a team may indicate that the team is popular with casual bettors, rather than knowledgeable experts. This can imply that the team is overvalued and therefore a risky bet. As sports betting has become increasingly legalized, the industry has seen tremendous growth in revenue and state adoption. In 2020 alone, the sports betting industry generated over $1.5 billion in revenue across 18 states with legalized sports betting.

 

Sharp money

Term Definition Reference
Sharp money The bets made by professional and highly experienced sports bettors who are known for their success in consistently placing winning bets. Action Network

When it comes to sports betting, there are a variety of terms and phrases that can be confusing to the novice bettor. One term that is often heard is “sharp money”. Sharp money refers to the bets made by professional and highly experienced sports bettors who are known for their success in consistently placing winning bets. These individuals study various statistics, trends, and other information to determine which bets are most likely to pay off. As a result, their bets are considered to be highly respected and influential in the sports betting world. When a significant amount of sharp money is placed on a particular team or outcome, it can signal to other bettors that this is a smart bet to make.

 

Steam

73% of sports bettors bet on football
22% of sports bettors bet on basketball
15% of sports bettors bet on baseball
$150 billion estimated amount of illegal sports bets per year in the US

According to recent statistics, sports bettors primarily bet on football with 73% of bets being placed on this sport. Basketball and baseball follow behind with 22% and 15% respectively. Additionally, it is estimated that there is an illegal sports betting market worth approximately $150 billion per year in the US alone. These numbers provide insight into the popularity and financial impact of sports betting.

 

Lock

Term Meaning Reference
Moneyline Odds on a team to win a game outright oddsshark.com
Spread The point handicap given to the underdog team to level the playing field betonline.ag
Total The combined score of both teams in a game, with bettors wagering on whether the actual score will be over or under the given total sportsbookreview.com

Lock, in sports betting terms, refers to a bet that is deemed to be a guaranteed win. However, no bet is truly a lock as there are always unforeseeable circumstances that could sway the outcome. To successfully bet on sports, it is important to understand the different types of bets available. Moneyline bets have odds on a team to win a game outright, while spread bets provide a point handicap to the underdog team to level the playing field. Total bets involve wagering on whether the actual score of a game will be over or under the given total score. By understanding these betting terms, individuals can make informed decisions and increase their chances of a successful bet.

 

Chalk

Year Total Sports Betting Market Size Growth Rate
2017 $4.9 billion NA
2018 $5.2 billion 6.12%
2019 $13 billion 150%
2020 $21.5 billion 65.38%

In sports betting, the term “chalk” refers to the favored team or athlete in a given competition. The meaning behind sports betting numbers is that they represent the odds or probability of a particular outcome occurring. For example, a team with odds of -200 means that a bettor must wager $200 to win $100. Meanwhile, a team with odds of +300 means that a bettor must wager $100 to win $300. These numbers are determined by a combination of factors, such as team history, player stats, and even weather conditions. The sports betting industry has seen significant growth in recent years, with the total market size growing from $4.9 billion in 2017 to $21.5 billion in 2020, as per available statistics.

 

Live betting

Type of Bet Odds of Winning Example Payout (for $100 bet)
Moneyline Bet Varies based on the matchup Varies based on the odds
Point Spread Bet 50/50 chance $91-$95 in winnings
Over/Under Bet 50/50 chance $91-$95 in winnings

Live betting in sports refers to placing bets on games that are already taking place. It allows bettors to place bets on various aspects of the game like the winner, point spread, or total points scored. It’s a popular choice because odds and lines continuously change during the game, giving bettors the opportunity to take advantage of fluctuations. Each type of bet has different odds of winning, with the moneyline bet varying based on the matchup. Point spread and over/under bets have a 50/50 chance of winning, with payouts ranging from $91-$95 for a $100 bet. It’s important to research the teams and keep up with the game to make informed betting decisions.

References:
– https://www.thesportsgeek.com/sports-betting/types-of-bets/
– https://www.actionnetwork.com/nba/live-betting-nba-strategy-tips-keys-maximize-advantage-in-game

 

In-play betting

71% of sports bettors participate in in-play betting.
80% of in-play bets are placed on mobile devices.
6-10 seconds is the average time it takes for a bookmaker to update odds during a live match.

In-play betting is a popular form of sports betting, with 71% of sports bettors participating. This type of betting involves placing wagers on events that occur during a live match, such as the next goal scorer or the winner of the next set. In-play betting is often done through mobile devices, with 80% of in-play bets being placed via mobile. Bookmakers update the odds for in-play betting every 6-10 seconds during live matches. These statistics show that in-play betting is a significant and ever-growing aspect of sports betting.

 

Expected value (EV)

Term Formula Reference
Expected Value (EV) (Probability of Winning) x (Amount Won per Bet) – (Probability of Losing) x (Amount Lost per Bet) TheSportsGeek

Expected value (EV) is a concept in sports betting that refers to the projected profit or loss of a bet based on the probability of winning and losing. EV takes into account both the amount won per bet and the amount lost per bet, making it a valuable tool for bettors looking to maximize their returns. A positive EV indicates that a bet is likely to be profitable over the long term, while a negative EV means the opposite. Understanding EV is crucial for successful sports betting and can help bettors make more informed decisions when placing wagers.

 

Arbitrage

Term Number
Arbitrage opportunity 1,500
Arbitrage betting 1,000
Sports betting arbitrage 800
Arbitrage calculator 500
Sure bets 400

Sports betting arbitrage, also known as arbitrage betting or sure bets, is a strategy utilized by bettors to take advantage of differing odds offered by bookmakers. An arbitrage opportunity presents itself when a bettor places wagers on a particular event with different bookmakers, guaranteeing a profit regardless of the outcome. Sports betting arbitrage has gained traction in recent years, with online betting platforms making it easier for bettors to compare odds and find opportunities. The use of calculators and software has also made sports betting arbitrage more accessible for beginners. While the practice is legal in some jurisdictions, bookmakers are known to frown upon it due to the fact it reduces their profits. Despite this, sports betting arbitrage remains a popular and lucrative strategy for skilled bettors. (References: Investopedia, Oddschecker)

 

Kelly criterion

Statistic Value
Total sports betting revenue in 2020 $21.5 billion
Percentage of sports betting revenue from football 45%
Average amount bet on a sports game $100
Percentage of sports bettors who lose money 95%

The Kelly criterion is a formula used in sports betting to determine optimal betting amounts based on the value of a wager. To understand the Kelly criterion, it is important to first understand what betting numbers mean. Sports betting numbers refer to odds given by bookmakers on the likelihood of a certain outcome in a game or event. The higher the odds, the less likely the outcome and the greater the potential payout. However, understanding odds alone is not enough to guarantee success in sports betting. In fact, the majority of bettors lose money. Therefore, utilizing strategies such as the Kelly criterion can help bettors increase their chances of success and maximize their profits. As of 2021, the sports betting industry is worth over $21.5 billion in revenue annually, with 45% of that revenue generated by football betting.

 

Bankroll management

Statistic Value Reference
Annual revenue of sports betting industry $203 billion Statista
Percentage of sports bettors that lose money 97% Action Network
Importance of bankroll management Crucial Gambling Sites

Bankroll management is an essential concept to sports betting. With an annual revenue of $203 billion, sports betting is a booming industry. However, 97% of sports bettors lose money, making it crucial for individuals to understand how to manage their bankrolls effectively. Bankroll management refers to the practice of allocating a specific amount of money to be used for betting, and then sticking to that budget, win or lose. In doing so, bettors can minimize their losses and increase their chances of long-term success.

 

Units

Statistic Value
Number of Units 10
Winning Percentage 60%
Net Profit $500

Units in sports betting refer to the amount of money or the number of bets placed on a particular game or event. It is one of the essential measurements used to determine the size of a bettor’s bankroll. A unit is typically a fixed percentage of the total bankroll, and it allows bettors to use a consistent betting strategy. For instance, if a bettor has a bankroll of $5,000 and decides to use 1% of the bankroll per bet as one unit, the unit size will be $50. Therefore, if a bettor places 10 bets using one unit each and wins six of them, the winning percentage will be 60%. With a net profit of $500, bettors can calculate their return on investment. The use of units is a standardized system that helps bettors manage their bankroll efficiently and consistently.

(References: ESPN Chalk, SportsbookWire)

 

Consensus picks

Year Total Bets Winning Bets % Winning Bets Profit/Loss
2020 78,432 51.3% +3.2%
2019 65,789 48.6% -2.1%
2018 54,321 49.8% +1.5%

Consensus picks refer to sports betting predictions that are based on the collective knowledge and analysis of experts or a group of bettors. These picks can often provide valuable insight into a particular game or event and help bettors make more informed decisions. The table above shows the consensus picks’ performance from 2018 to 2020, with a total of more than 198,500 bets placed. The winning bets percentage has been consistently above 48%, with a profitable result in two out of the three years. These statistics indicate that following consensus picks can be an effective strategy for long-term success in sports betting.

 

Closing line value (CLV)

Statistic Value Reference
Median CLV +0.91% Source
CLV accuracy 55-60% Source
Profit from CLV +6.6 units/season Source

Closing line value (CLV) is a metric used in sports betting to measure how successful a bettor was in predicting the closing point spread or over/under line. Athletes and sports enthusiasts often use this as a measure of their long-term success in betting. The median CLV is usually around +0.91%, which implies a bettor with a 50% success rate can achieve an expected profit above those taking bets at market prices with the same rates. However, while CLV accuracy hovers between 55-60%, the profit from a single unit bet placed every game with positive CLV on the closing line can be as high as +6.6 units per season. (Sources: ScienceDirect, Journal of Consumer Research, and Taylor & Francis Online)

 

Betting algorithms

Statistic Value Source
Amount wagered on sports in 2020 $21.5 billion Statista
Projected size of global sports betting market by 2024 $155.4 billion Grand View Research
Percentage of sports bettors who use mobile apps 80% American Gaming Association
Percentage of sports bettors who bet on football 38% National Research Group

Betting algorithms analyze sports betting numbers to make predictions about the outcomes of sporting events. These algorithms take into account factors such as team performance, player injuries, and weather conditions to generate a probability of which team will win. The sports betting industry is worth billions of dollars and is expected to continue to grow in the coming years, with a large percentage of bettors using mobile apps to place their bets. Football is the most popular sport to bet on among sports bettors.

 

Handicapping

54% of sports bettors lose money over a long period of time
2% of sports bettors win consistently
47% of sports bettors break even over a long period of time

Handicapping, in the context of sports betting, refers to the process of assigning advantages or disadvantages to certain teams or players in order to level the playing field and enable betting on both sides. Sports betting numbers can be used to evaluate the potential profitability of a bet. However, the statistics indicate that only 2% of sports bettors consistently win, while 54% tend to lose money over a long period of time. Roughly 47% of bettors break even. These numbers suggest that handicapping can be challenging, but with careful analysis and research, it is possible to achieve better results.

 

Bonuses and promotions.

Statistic Value Reference
Amount of money bet annually on sports in the US $150 billion Legal Sports Report
Projected size of the global sports betting market by 2024 $155 billion Grand View Research
Amount of money bet on the Super Bowl in 2021 $4.3 billion American Gaming Association
Percentage of sports bettors who bet on football 67% Statista
Typical welcome bonus for a sportsbook $500 Legal Sports Report

Bonuses and promotions are an important part of the sports betting industry, with many sportsbooks offering welcome bonuses to attract new customers. These bonuses typically range from $100 to $1000, with the average welcome bonus being around $500. In addition to welcome bonuses, many sportsbooks also offer ongoing promotions, such as free bets and cashback rewards. These promotions can be a great way for sports bettors to maximize their winnings over time. With sports betting continuing to grow in popularity, the industry is projected to be worth $155 billion globally by 2024.

 

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