The manner in which this benefits the sportsbook is easy to explain. In other words, you have to wager $110 in order to win $100 on your bets. The standard vigorish is 10 percent on each wager. Their role is the primary factor in turning a profit for bookmakers, and also a crucial factor for bettors to learn and respect. In short, the vigorish is essentially a tax the sportsbooks charge per wager. They might sound complicated on the surface, but they are relatively simple to explain. If you've heard the terms but don't know what they mean, fret not. If you have dabbled at all in the sports wagering industry, you've likely heard the terms juice, or vigorish, thrown around quite a bit. If you wish to wager on the total, you would pick the rotation number of either team and inform the sportsbook writer that your intention is to bet the Over or Under only on the posted total. In the above example, 46 points is the posted total between the Cowboys and Giants. The over-under or total is usually noted on the same line where the underdog is listed, but with a bit of separation from the team name so that it is not confused with the point spread. You'll see the spread is almost always delineated with the minus symbol and spread number corresponding directly to the favored team. In the above example, along with seeing the point spread on the betting menu, you will see a large number near the spread. The formula essentially boils down to taking the average of what both teams score and allow per contest, along with other mitigating factors such as the venue or key injuries. The total is mathematic formula created by oddsmakers to determine the approximate number of points that will be scored in the contest. In addition to picking a side against the point spread, bettors have the option of wagering on the over-under or "total." When you place a wager, you give the sportsbook ticket writer the rotation number of the team you are selecting instead of announcing the team name. This is simply the universal record-keeping system for sportsbooks to track bets on each team. The number to the direct left of the teams is called the "rotation" number. In the above example, the Giants winning the game by exactly three points would result in a push for bettors on both sides, and all wagers would be refunded. This means, in order for the wager to win, the Cowboys would need to lose the game by fewer than three points, or win it outright. Those who wish to support the Cowboys are betting on the underdog, and thus "taking" the points. This means they would have to win by four or more in order to cover the spread and make your wager a winner. So if you wish to wager on the Giants in this game, you'd be giving up or "laying" three points with them. The spread is a handicap that requires the favored team to win the game by an ascribed number of points in order for the bettor to win his wager on the team. The spread is essentially a mathematical formula used to bridge the talent gap between teams and incentivize potential bettors into considering both sides. In this example, the Giants are three-point favorites against the Cowboys. Take the following listing you might see in a sportsbook:
#WHAT DOES PK MEAN IN BETTING PLUS#
While the plus and minus signs might look confusing at first, they are easily explained.