Chalkboard Betting: A Guide to Making Smart Wagers
Chalkboard betting, also known as point spread betting, is a popular form of sports wagering that involves predicting the margin of victory or defeat of a team or individual. It's one of the most common types of bets, and it's offered by most sportsbooks.
Understanding Chalkboard Betting
In chalkboard betting, you're betting on the difference between the final score of a game and a predetermined line set by the sportsbook. This line is known as the "spread."
For example, let's say the New England Patriots are playing the Buffalo Bills and the spread is set at -6.5 points. This means that the Patriots are favored to win by at least 6.5 points. If you bet on the Patriots, you're betting that they will win by more than 6.5 points. If you bet on the Bills, you're betting that they will either lose by less than 6.5 points or win outright.
Calculating Payouts
The payout for a chalkboard bet depends on the odds and the amount you bet. The odds are determined by the sportsbook and reflect the perceived probability of each outcome.
If you bet on the favorite:
- To win $100, you need to bet $110 at -110 odds.
- To win $100, you need to bet $130 at -130 odds.
- To win $100, you need to bet $150 at -150 odds.
If you bet on the underdog:
- To win $100, you can bet $110 at +110 odds.
- To win $100, you can bet $130 at +130 odds.
- To win $100, you can bet $150 at +150 odds.
Table: Common Point Spreads
| Sport |
Common Point Spreads |
| Football |
3, 6.5, 7, 10, 13.5, 14 |
| Basketball |
5, 7, 9.5, 11.5, 14, 16.5 |
| Hockey |
1.5, 2.5, 3.5, 5.5, 6.5 |
| Baseball |
1.5, 2.5, 3.5, 4.5, 5.5 |
| Soccer |
0.5, 1, 1.5, 2, 2.5 |
Stories and Lessons
Story 1:
In Super Bowl XLIX, the New England Patriots were favored by 4 points over the Seattle Seahawks. However, the Seahawks upset the Patriots, winning by a score of 28-24. This shows that even when you bet on the favorite, there's always a chance for an upset.
Lesson: Don't bet more than you can afford to lose.
Story 2:
In the 2016 NBA Finals, the Cleveland Cavaliers were underdogs against the Golden State Warriors. However, the Cavaliers upset the Warriors, winning in 7 games. This shows that even when you bet on the underdog, you can still win if you make a smart bet.
Lesson: Do your research and only bet on teams that you think have a good chance of winning.
Story 3:
In 2017, the Los Angeles Rams were favored by 10 points over the San Francisco 49ers. However, the Rams lost by a score of 34-31. This shows that even when the spread is large, there's still a chance for the underdog to win.
Lesson: Don't bet on a team just because they're favored.
Effective Strategies
-
Bankroll Management: Set a budget for yourself and never bet more than you can afford to lose.
-
Line Shopping: Compare the lines offered by different sportsbooks to find the best deal.
-
Handicapping: Do your research and analyze the teams and players involved in the game you're betting on.
-
Know Your Limits: Don't chase losses and know when to quit.
How to Step-by-Step
-
Choose a sportsbook: Do your research and choose a reputable sportsbook that offers competitive odds and a wide range of betting options.
-
Create an account: Create an account with the sportsbook and deposit funds.
-
Find the game you want to bet on: Use the sportsbook's search function to find the game you're interested in.
-
Choose your bet: Decide whether you want to bet on the favorite or the underdog.
-
Enter your stake: Enter the amount you want to bet.
-
Submit your bet: Click the "submit bet" button to place your bet.
Resources
