Sports Betting 101: How to Place a Bet at a Sportsbook
Sports Betting Explained (basically a Sports Betting How To) in our Sports Betting 101 series for the new sports bettor direct from the WagerTalk TV Studios in Las Vegas as host Kelly Stewart talks with sports betting expert Teddy Covers and break down how to go up to the counter and place a wager at a sportsbook (and not look like a first time sports bettor). Make sure to check out our entire “Sports Betting 101” series where our team of Vegas handicappers help those new to sports betting understand how sports betting works, learn common sports gambling terms and even how to place a bet at a sportsbook and look like a professional.
Welcome to WagerTalk. I’m sitting next to the man, the myth, the legend, Teddy Covers. He and I are going to be talking about today a little bit of sports betting 101. This is a video for you brand new bettors out there. We are going to do some really basic stuff. Teddy, my first question for you. What does minus 110 even mean when placing a sports wager?
Minus 110 is a very simple concept, and yet for beginning bettors sometimes it’s very difficult. I know for me it was. When I first came to Las Vegas, 11 to win 10, what does that mean? It’s real simple. The books get a cut of losing wagers. So every time you bet at the standard juice, you’re going to lay $11, you get 10 back. When you lose, you lose 11. When you win, you win 10. You bet 110 to win 100. You bet 1,100 to win 1,000. The ratio stays the same throughout, but that’s the basic concept of 11 to 10. So if you’re going to beat sports betting over the long term, you’re going to have to be able to withstand the juice, overcome the juice, and have a winning percentage that allows you to make money despite the fact that throughout the process, you will always be laying 11 to 10 when it comes to point spreads.