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MMA Wagering UnderGround >> Newbie question


5/9/06 8:21 AM
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Edited: 09-May-06
Member Since: 01/01/2001
Posts: 11
 
I just saw the hughes gracie odds, the odds are now: Matt Hughes (-303) Royce Gracie (273) I wonder how the odds are set? Obviously the "manager" sarts out by choosing the odds that seem sensible to him, but the odds change before the fight, right? Do you change them manually after your own head or do they change automatically depending on how people place their bets? And if I play for example, Gracie now, on +273, and the odds changes afterwards, will I, in case he wins, win +273 or will I only win as much as the odds are when the betting closes before the fight? The reason i ask is because in Sweden "Dynamic oddss" are common, which means if you bet on points in a game they will all start out at 999,99 and change mathematically due to how people play so in theory, if everyone bets the same result you will only get your money back and if you are the only one to bet the actual result your winnings can be astronomical. Its either that or the "firm odds" That start out at one value and never changes. Long question, but I hope you get the idea. Thankful for any input. "He shows really great heart to accept this fight with a much bigger and BETTER opponent" The always so humble Crocop after his first round KO in the OWGP.......
5/9/06 8:47 PM
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Oddessa
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Edited: 09-May-06
Member Since: 06/08/2002
Posts: 6015
JoeyOddessa.com

Making Bets on Sports

1. What type of sports bets are available?

There are 3 main bets that can be wagered on sports.

1. Money Line Bet

A "line" penalizes the bettor for betting on the favorite. The bettor bets more to win less. Generally the odds are expressed in one of 2 ways:

a) Team A - Team B    6 1/2  -  7 1/2

This means that if you bet the favorite (Team A), you need to bet $7.50 to win $5.00. If you bet the

underdog (Team B), you bet $5 to win $6.50. This

b) Team A - Team B    +130-150

This means that you will need to bet $150 on Team A (the favorite is always listed first) to win $100 and

if you bet on the underdog you will need to bet $100 to win $130.

2. Point Spread Bet

In point spread betting the winning bet is determined by the final score rather than which team wins. For example if team A is favored by 7 points over team B, a bettor can still win even if team B were to lose. 

As long as team B loses by less than 7 points, then a bet on the underdog will win.  In the case that Team A wins by exactly 7 points, the bet is considered a "push" and all money is returned to the players.

 Games that go into overtime may be considered "push" bets. Check with your bookmaker to see what specific rules there are for tie games and overtime games.

All bets pay $10 for every $11 bet (about 10%). The dollar the bookmaker keeps is the commission or also called the "vig" and is how sportsbooks make money.  Note that you need to win at least 52.38% of any point-spread bets in order to break even.

A money line bet is useful if you like a favorite in an event but aren't sure it can cover the points.

3. Over / Under Bet

In this type of bet, the bettor bets on whether the combined score will exceed or be below the set points. If the combined score is the same as that set then it is considered a "push" and money is returned to the bettor.

5/11/06 9:36 AM
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Edited: 11-May-06
Member Since: 01/01/2001
Posts: 12
So if I make a 300$ bet on hughes at -300 that will give me the 300 back and 100$ additionally, right? Even if his odds are down to -400 on may 27th? That is completely new to me but sounds really cool. Sounds like it would be a good idea to place a small bet early on gracie and bet on hughes the very day of the fight, since Royces odds are likely to drop because of all the "fan" bets he wil recieve with his star status. Cool international betting rocks
5/11/06 3:05 PM
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Oddessa
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Edited: 11-May-06
Member Since: 06/08/2002
Posts: 6027
JoeyOddessa.com

So if I make a 300$ bet on hughes at -300 that will give me the 300 back and 100$ additionally, right?

Correct. 

 Sportsbook.com has a low  -270 on Hughes at the moment.


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