Sports Betting- Over Under
How to Bet the Over and Under
Also known as Total Bets, Over and Under bets involve the online sports book deciding the number that they think will be the final score of both teams combined. For example, if the book thinks that the final combined score of a single football game will be 42, betters would then need to decide whether or not they think the final score will be over or under 42. If the score ended up being 42, all bets would be pushed or returned to the better. For this reason, sports books generally assign a half point to their guesses to avoid a push. For example, a sports book would list an over/under bet as 42.5. As no half points are possible in football, a push would be impossible.
How Over and Under Bets Work
Over and Under Bets are one of the easiest bets to make when betting on a sporting event. The sports book has made a statistical guess on a hard to guess event and your guess about this statistic is usually fairly close to 50/50. For this reason, over/under bets normally contain the same negative odds. You will almost always have to bet more money that $1.00 to win $1.00.
You wish to place an over/under bet on an upcoming football game.
The online sports book sets the total at 42.5
The odds for over 42.5 are set at -110
The odds for under 42.5 are set at -110
You wager $110 that the final score will be over 42.5
The final combined score of both teams is 49
You have won $210 on your wager
Online sports book typically list the odds on over/under bets as the same to encourage betters to place wagers on each directional guess equally. If they online sports book is successful in this aim, they usually take in more money than they pay out. However, if one side of the over/under has taken in a great deal more money than the other, bookies will typically adjust the odds to encourage bets on the other side of the wager.
Advanced Over/Under Betting
As a general rule, sports books will adjust their guess of the final combined score based on the amount of bets coming in on either side. This usually happens at a ratio of $1,000 to a 0.5 point. For example:
The original guess of an online sports book for the total of a football game is 42.5. All bets come in equally at first but then the over side takes in an additional $1,000.
The next person to place a bet will do so on an adjusted final combined score of 43. If another $1,000 is still placed on the over bet, the score will again be adjusted to 43.5 for the nest person placing a wager.
Online sports books may also attempt to level the bets on over/under wagers by adjusting the odds for each. For example:
The over 42.5 combined score is set at -350.
The under 42.5 combined score is set at +275.
$1,000 more is wagered on the over than the under.
The odds would then be adjusted to make betting on the under more attractive.
The odds for the under would be adjusted to +300.