Sorry havent been updating this blog too often - been sidetracked by other things in life. However, I will be back doing daily blogs - but with a certain twist. As of today, I will start to post bets on 3 games selected that I believe will be winners based on a betting spread. For those who do not know what a spread is, refer below:
(Taken directly from Wikipedia)
Spread betting is any of various types of wagering on the outcome of an event, where the pay-off is based on the accuracy of the wager, rather than a simple "win or lose" outcome...A spread is a range of outcomes, and the bet is whether the outcome will be above or below the spread.
So, as an example, say we were going to bet on a game in the National Basketball Association involving the Los Angeles Lakers (2008-09 NBA Champs) and the Los Angeles Clippers (worst team in the league). Rather than putting up money as to who would win the game straight up (with most people betting that the Lakers would win), sportsbooks will put up a SPREAD as to the amount of points one team has to beat the other by in order for it to be considered a "win" on the gambling side.
- Take note, betting lines are often written out as fractions in order to prevent draws (this is because
teams in the NBA cannot score 1/2 or 0.5 points).
- So, lets look at an example of a betting line, taken from the popular online sportsbook PartyBet.com:
(again note, on PartyBet, instead of using a "spread" they use a "handicap" - same concept, different
terminology)
Taken from November 18, 2009: CHA Bobcats v PHI 76ers +3/-3
- Here, the spread means that the Philadelphia 76ers are required to defeat the Charlotte
Bobcats by 3 points to be considered a win. Any other scenario resulting in the 76ers not
winning by more than 3 points results in a win for anyone who bet for the Charlotte Bobcats.
- Note here, a tie can result if the 76ers win by exactly 3 points, in which case you
win nor lose.
Although I will not actually use money in these scenarios, my hope is that by posting this blog over the course of the year, I'll see whether or not I could have made money in the long haul. As well, I'll find out where my strengths lie in terms of sports analysis (whether it be soccer, football, baseball, or basketball....MMA and boxing will be considered when big events come to the fold).
By making 3 bets, (each of which will be valued equally, meaning I would theoretically put the same amount of money on each bet), I'll either win or lose that day, for the most part. I'll keep a running tally of my record throughout the year, and will post a monthly spreadsheet that will show the results of the month - so theres no hiding in whether Im a total tool or a prognosticating god.
Yea, this was longer than I would have hoped for...ah well....let the games begin!
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