Have you ever found yourself stuck in the middle of two bickering friends, both of whom have a completely different side of story? If you have, I’m sorry, but the right or wrong, fact or fiction details of the problem is usually a grey area and it’s up to you to figure out who to believe. In sports betting, there are two sides to every game and it’s very easy to determine who the favorite and underdogs is. Generally speaking, favorites and underdogs are separated by a few things like the rosters, current form or home/road splits. In some cases, underdogs can reach “longshot” status over a number of different things.
What Does Long Shot Mean?
When you hear someone using the term “longshot” they are talking about an underdog that is facing a very difficult challenge and is very unlikely to actually win the game. A long shot can also be used when describing an individual athlete such as an Olympic sprinter going up against Usain Bolt - they have very little chance of coming out on top. However, the most common use for the term long shot is in horse racing. Any horse that goes off at anything over 15/1 odds would be considered a long shot.
Betting Long Shots
Long shots are the most attractive and temping bet in the sports betting industry amongst amateur bettors. The reason why is quite simple too – longshots offer extremely high potential payouts without having to risk the same amount as you would while betting favorites. The possibility to triple or quadruple your bet amount with one bet are scenarios bettors dream of. Betting long shots isn’t a terrible thing if you are able to cash in a few times a week. Although, in order to be successful, you need to be weary of a few things.
Long Shot Betting Tips
Wagering on a long shot can be dangerous for a few different reasons. First off, teams, individual athletes or horses are listed as long shots for a reason – they are very unlikely to win. If they were any good, or had the best chance to win the game, they would likely be favorite.
Before we had the options of wagering on future bets, parlays, teasers, alternative lines, Asian lines, prop bets and each-way, there was one betting option that reigned supreme. It was the money line bet. From a non-gambling perspective, winning a game in any sports will make a team happy. However, depending on the score, that win may not please bettors. That’s because the point spread betting option has taken over as the popular option, leaving the money line far behind. If you are the kind of person who bets on your favorite team each and every game, this is the bet for you. There is nothing worse than watching your team win the game, but lose you money by not covering the point spread.
What Does Money line Mean?
The money line bet is the simplest form of betting in the industry. A “money line” bet is a way of betting on which team is going to win the game outright, or which individual will win an event. With a money line bet, the margin of victory or the total number of points a team scores do not matter. If you like the Patriots to win outright versus the Browns, a 3-0 win would win you just as much money as a 77-0 win.
Unfortunately, the profit from winning a money line bet could be drastically different depending on if you bet on the favorite or underdog.
Money Line Odds
The money line bet always relates to bets of $100. A favorite will be represented by a negative money line figure such as -180. This means that in order to profit $100 off your winning bet, you would need to risk $180 dollars. But as I’m sure you already know, you can risk any amount you are comfortable with and the payment (should you win) will be in proportion to the odds. For example, a $50 bet on a -180 line would win you $27 dollars.
When betting an underdog on the money line, you will notice that they have a positive price attached to them. For example, if the underdog you like was +195, a $100 bet would profit you $195 dollars for every hundred put down.
The money line odds will always be different aside from the plus or minus – those are the only constant. The favorites will always have a negative value, which is how the sportsbooks make their money.
What Sports Can I Bet the Money Line On?
You can bet the money line option in every single sport that is offered up. It is the simplest form of betting and it is also the primary way to bet sports in which a point spread isn’t available (think hockey or baseball). Money line wagers are also available in football and basketball, but the point spread wager is much more popular. It is also used in tennis, golf, boxing, MMA, cricket, table tennis, and any other sport you can think of that has a winner at the end of the game.
Are Money Lines the Best Betting Option?
If you think it’s hard enough winning a single point spread bet on the NFL, you are not alone. If I told you that some handicappers live for and are good at winning two point spread bets on the same game while betting both teams, you’d shake your head at me in disbelief. First, yes, it’s possible. Second, its very hard to do and most of the time it happens by fluke. However, pulling this off will earn you more kudos than winning a four or five-team parlay bet. The act is called “middling” a line and here’s what it means.
What Does Middle Mean?