Sports Betting Strategy: Betting Education 101 | The Action Network

Beginner

Let’s start with the basics. If you’re just getting into betting, it’s worth learning all of the lingo, types of bets you can make, and how to read odds. Learn the difference between a favorite and an underdog, what a -110 line means, the difference between a spread and futures bet, and more.

American Odds +/- Image

American Odds +/-

American Odds are the default odds at sportsbooks in the US. These odds are based on winning $100 for a given bet.

Point Spread Image

Point Spread

A point spread is a bet on the margin of victory in a game, which means a team must win or lose by a specific number of points.

Over/Under Image

Over/Under

An over/under is a bet on whether the outcome of a game will be above or below a certain number of points.

Moneyline Image

Moneyline

A moneyline bet is a bet on a specific team to win a game, by choosing either the favorite or the underdog. Margin of victory doesn’t matter.

Juice Image

Juice

Juice, also known as the “vig,” is the amount charged or taxed by a sportsbook for taking a given bet.

Units Image

Units

A unit is a standardized way to compare win amounts between bettors while removing money.

Parlay Image

Parlay

A parlay is a wager type in which multiple bets are linked together to create a greater payout. All “legs” of a bet have to win to cash the bet.

Pick'em Image

Pick'em

A “pick’em” refers to a game in which neither team is favored on the spread. It also means the spread, or margin of victory, is zero.

Push Image

Push

A push is the result of a tie between the bettor and the sportsbook; the bettor is fully refunded.

Chalk Image

Chalk

“Chalk” in sports betting refers to the betting favorite, more often a heavy favorite.

Backdoor Cover Image

Backdoor Cover

A backdoor cover occurs when an underdog is trailing by more than the spread but scores points late in the game to cover.

Hook Image

Hook

The “hook” is the name for the last half-point of a non-whole number spread. For example, 3.5.

Intermediate

Now that you’ve tackled the basics of betting, let’s move on to more nitty-gritty topics, such as what a round-robin bet is, how to hedge your bets and when you should, how to spot important reverse line movement and more.

What is Hedging Image

What is Hedging

Hedging is a strategy in which a bettor takes the opposite side of their original bet. The goal is often to minimize loss or guarantee profit.

Decimal Odds Image

Decimal Odds

Decimal odds represent the total return for every $1 wagered, including the money you risked.

Buying Points Image

Buying Points

Buying points is an option in which a bettor can improve the spread of a bet for a more expensive price or reduced payout.

Round Robin Image

Round Robin

A round-robin bet allows you to create a series of smaller parlays from a larger list of teams or players.

Middle Image

Middle

Middle is a betting strategy in which a bettor places wagers on both sides of the same bet at different lines, attempting to win both.

Reverse Line Movement Image

Reverse Line Movement

Reverse line movement in sports betting is when a line moves away from the side receiving the majority of bets.

The Betting Market Image

The Betting Market

A betting market is a type or category of bet on a particular sporting event. Sportsbooks often offer multiple markets on events.

Betting Exchanges Image

Betting Exchanges

A betting exchange is a marketplace that allows bettors to wager against each other at lower fees than those offered by a traditional sportsbook.

What is a sharp Image

What is a sharp

A “sharp” describes a serious, savvy, higher-spend sports bettor--someone who typically wins more than they lose.

Advanced

Ready to become an advanced bettor? Let’s dive into some serious topics like key numbers in football betting, how to calculate theoretical holds in futures bets to determine your edge on a specific wager, how to de-juice all of your bets, and more.

Key numbers NFL Image

Key numbers NFL

Key numbers are important in football given the numerical scoring of field goals and touchdowns. These are usually grouped around 3 and 7.

Calculating Theoretical Hold in Futures Image

Calculating Theoretical Hold in Futures

Theoretical hold expresses, in % form, the amount of money a book can expect to keep after paying out winning bets.

How to Remove Juice Image

How to Remove Juice

Sportsbooks take a cut of what's wagered, called the juice or vig. To understand removing juice, you first need to calculate it.