Point Spread Sports Betting

1. Betting On The Spread

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Points Betting is a unique sports betting option available only at PointsBet Sportsbook (currently in New Jersey and Iowa). This kind of point spread wager is based on the margin of victory or loss and can be very volatile, depending on how much risk a bettor wants to take on a game.

During the first week of the 2019 NFL season, one bettor decided to take a massive leap into Points Betting. One massive bet on the Ravens gave a lot of exposure to this relatively new form of point spread betting.

🚨BIG POINTSBETTING BET ALERT🚨

A client has placed a PointsBetting wager of $30,000 per point for the Ravens (-6) v. the Dolphins on Sunday! ⬇️

-Max Win/Loss: $600,000 👀 pic.twitter.com/akPHG3Xcvt

— PointsBet Sportsbook (@PointsBetUSA) September 6, 2019

This Points Betting wager was for $30,000 per point on the Baltimore Ravens -6 at Miami Dolphins. Unlike a point spread wager, the margin of victory in the game dictates how much the bettor wins or loses. The size of the win in this bet depended on the final score of the game. The Ravens covered and defeated the Dolphins 59-10.

The risk in this wager was capped at $600,000 for the bettor and PointsBet. Thanks to the unique wager and 49 point margin of victory, the bettor won $600,000. If this was a traditional -110 wager the bettor would have won $27,272.73. At the same time, this bettor could have also lost $600,000 if the result was reversed.

Points betting

Points Betting is a unique way to wager on sports that's unique to PointsBet Sportsbook. Betting on point spreads with a -110 moneyline isn't for everyone. The traditional wager can seem boring since there's a fixed win or loss. Every point or yard in a football game could change how much is won or lost.

A Points Betting wager allows a bettor to win or lose based on the outcome of the wager. The excitement of not knowing the potential amount of a win (or loss) can be exhilarating. Whether the wager is based on a point spread, total, or player prop, the wager isn't known until the end of the game.

Point spread points betting

Points Betting is different depending on the type of wager placed. Here's how a point spread wager would differ depending on the final score:

• If a wager wins by one (1) point, a bettor would win 1x the original wager.
• If a wager wins by two (2) points, a bettor would win 2x the original wager.
• When a wager wins by wins by 10 points, a bettor would win 10x the original wager.

The same Points Betting multiplier rules apply if the wager loses by those points. If a bettor is on the wrong side of the wager they will lose the same amount.

The Ravens game versus the Dolphins had different parameters since the maximum win or loss was set at $600,000. The bettor had a 20x limit on their $30,000 Points Betting wager. This game was the largest payout in the short history of PointsBet operating in the US.

Points betting other markets

Points Bet offers more wagering markets than many US sportsbooks. Including alternative game odds and player props, there are often more than 200 ways to wager on games at PointsBet. There are also Points Betting options for player or game prop bets.

This is where Points betting really becomes a wagering opportunity that's different from any other sportsbook. Here are some examples of individual Points Betting opportunities for football games:

• Receiving yards: How many yards will Antonio Brown have versus the Dolphins?
• Fantasy Points: How many points will Odell Beckham Jr. score versus the Jets?
• Rushing yards: How many yards will Ezekiel Elliott have against the Redskins?

PointsBet will set a number and the person making the Points Bet will choose how much to risk above or below. The win or loss will be determined based on the final results of each player.

Points betting market limits

Points Betting wagers can get out of control quickly as noted in the Ravens game versus the Dolphins. All Points Betting markets have a cap on the maximum win and maximum loss. This is different for each type of Points Betting scenario and is displayed on the bet slip.

The limits allow bettors to see potential winnings or losses. Predicting sports outcomes isn't easy or everyone would be a winner. Sometimes games have unexpected results. While a huge win is great, a huge loss can hurt a bettor beyond the wallet. The Points Betting market limits allow the bettor to see the potential loss and protect themselves by keeping a wager within budget.

In every sporting event, there can be a wide degree of difference from one outcome occurring compared to another. Betting odds are the interpretations of these chances in numerical form. Of course, since the bookmakers charge vigorish, the odds won't reflect the true probability of an outcome but more on that later.

Depending on what part of the world you're betting from, you're likely to become accustomed to one form of betting odds or another. Online sportsbooks these days will offer their customers odds in several formats, but it's important to understand each odds format.

Also known as moneyline odds, American odds are used primarily by those based in the United States. American odds are simple to understand. The odds are based off the amount that must be bet for the bettor to win $100.

Sports like baseball are bet solely with moneyline odds because there is no point spread. However, traditional point-spread wagering will also have American odds attached. The standard bookmaker's vigorish is -110, which will be the standard juice attached to sides and totals.

Here's a basic example using an MLB baseball game:

In terms of moneyline wagers, like all baseball contests, the favorite will be signified with a – negative symbol and the underdog with a + positive symbol. In the above example, the Reds are the favorite, and the Cubs are the underdog.

Bettors would need to wager a stake of $130 to win $100 if wagering on the Reds. For the Cubs, a $100 bet would return $120.

Here's an example of American odds attached to an NFL point spread.

The moneyline odds attached to each side of the point spread are -110. To bet either side, NFL bettors will need to bet $110 to win $100. For Americans, this 10 percent vigorish is standard. However, bookmakers often change the attached vig on point-spread markets. This is another way for them to move the line without coming off certain numbers.

Decimal odds are the most commonly used odds type by online bookmakers. They are the favorites of most Europeans, excluding the United Kingdom, and by Australians. Decimal odds follow a simple and basic formula.

Here is an example of a wager placed on the favorite in an English Premier League soccer match:

Fractional odds are predominantly used throughout the UK and Ireland. They are also known in the UK as UK Odds. First appearing in horse racing, they are the oldest form of odds in sports betting.

We all learned fractions as kids in school, and using fractional odds is no different. When using fractional odds, the second number to the right is the denominator, and it signifies the amount of the stake. The first number and number to the left is the amount that your stake will yield (not including the original stake) if the wager is a winner.

Here's yet another example using English soccer:

Here is another example, this time with an odds-against underdog:

Many bettors will want to convert fractional odds to moneyline odds or decimal odds to American odds, etc. This can be done using some basic math, but in today's bookmaking age, it's not necessary.

Most sportsbooks offer several different odds types, so changing betting markets into different odds types can almost always be done with a click of a button. Bettors can also Google the term 'odds converter,' and they will be met with several betting calculators that provide this service as well.

Do Betting Odds Represent the True Probability of an Outcome?

While betting odds are indeed the best barometer for predicting the outcome of a sporting event, the odds don't necessarily reflect the true likelihood or probability of the outcomes concerned.

For instance, if we flip a coin, we know that there's a 50% chance that it will land on heads and 50% chance it will land on tails. When a bet is placed, we will either win our side of the wager or lose (or push in some cases). This seems like a 50/50 proposition as well, but the bookmaker's vigorish adds an edge to both sides of the bet.

Furthermore, the odds can be influenced by other factors. Not every bookmaker has the same opinion on a game, and the odds may also be affected by how much exposure a sportsbook has to each market. If they are taking a lot of action on one side, the odds will likely move due to the increase in wagering volume.

Betting On The Spread

As a sports bettor, our goal should be to look for markets with the smallest edges held by the sportsbook. The closer we can get to the 50/50 coin flip odds, the less the sportsbooks will make off us in the long run. Of course, betting with no juice isn't possible, but line shopping and cutting down on your edge is something that all bettors can do easily.