• What Happens When You Lose A Bet Super Bowl

Understanding different types of sports bets can sometimes seem overwhelming
to people. The reason for this, though, is not because the bets are actually
confusing at all. It is because they are usually explained by a friend, or a
website that is not well written and key components of the explanation are left
out. Thankfully, we’re going to make sure that once and for all, you understand
one of the most common types of sports bets available. You’ll quickly see that
sports betting is a lot easier to understand and participate in than most people
give it credit for.

What Is a Moneyline/Win Bet?

Once this has happened, you can place a come bet. When you have wagered, the shooter will keep rolling. You will lose if a 2, 3 or 12 is rolled and win if a 7 or 11 is rolled. Any come bet is almost like an individual pass line bet on every roll. Quite simply, a push is what happens to your bet when the event you wager on results in a tie. As bettors or competitors, we build up wins and dread losses. We’re all familiar with creeds such as “the thrill of victory and agony of defeat.” You’ve probably heard that “winning isn’t everything, it’s the only thing.”. This is what happens when you lose a bet at Auburn PT. A pie to the face! Whether you bet on the favorite or the underdog in that case you would not be a winner, but you also wouldn’t lose. You would get your entire bet back without penalty, and the sportsbooks would. If you bet the spread (either games or sets), almost all books will require the match to finish. Let’s say you bet Genie Bouchard +1.5 sets against Angie Kerber. If Bouchard leads 6-3, 5-0, your bet can’t possibly lose. However, if Kerber then decides to retire, your bet will most likely get refunded.

One of the most common sports bets that you may have already made against a
friend without even knowing it is a moneyline bet. The moneyline bet is also
referred to as a win bet, depending on what part of the world you are in. The
United States refers to this bet as a moneyline bet while most of the rest of
the world refers to this as a win bet. Leave it to the US to need to be
different 🙂

Basically, all you are doing is selecting which team or person is going to
win an event. As we said earlier, you may have already made this type of bet
before without even knowing it. If you ever bet your friend a few bucks that a
certain team would win a game, you made a moneyline/win bet.

Winning or losing a moneyline bet only depends on if the team or individual
wins the game or event or not. It does not matter how many points or how
decisively they win the game by.

Let’s say the Dallas Cowboys are
playing the Green Bay Packers during Monday Night Football and you think the
Cowboys are going to win. If you place a moneyline bet on the Cowboys, you will
win your bet if the Cowboys win by one point or if they win by 100 points. If
the Packers win by any amount of points, you lose your bet.

This is the same for sports where you have individuals instead of teams
competing. For example, if you make a moneyline bet that Roger Federer will win
his next tennis match, you will win your bet when he wins and lose your bet when
he loses. It does not matter how he wins or by how many sets he wins. A win is a
win, and a loss is a loss when it comes to moneyline bets.

How Do Moneyline Bets Payout?

As you may have already suspected, all moneyline bets are not created
equally. Different moneyline bets will pay out different amounts depending on
who is competing. Let’s look at an exaggerated example to show you why. Let’s
say that Mike Tyson, one of the greatest boxers of all time, is going to fight a
boxing match against a six-year-old kid. Would it be fair to pay a bettor the
same amount if they picked Mike Tyson to win than if they picked the doomed
six-year-old to win? Of course, it’s not. If that were the case, everyone would
bet all of their money on Mike Tyson and the sportsbook would be broke the next
day. Moneyline bets payout dependent on how big of a favorite or underdog the
person or team you are betting on is.

• The bigger the favorite the team or person is, the less money you will be
  paid on a winning bet.
• The bigger the underdog the team or person is, the more money you will be
  paid on a winning bet.

The amount that you are paid for a winning selection is decided by the casino
and made public before you make your bet. These are depicted with a plus or
minus sign and then a number that shows how far in each direction. If that’s
confusing, it will make a lot more sense with some examples. You might hear
people refer to this as the line. (The line is also commonly used to refer to
the point spread which we will address in a later post).

• If a team has a plus (+) sign in front of their name, they are an underdog.
• If a team has a minus (-) sign in front of their name, they are a favorite.

The larger the number next to the plus or minus sign, the more significant of
a favorite or underdog the team is.

For example, here are a few sample lines from an actual sportsbook that we
will use for an example.

In this example, the Buffalo Bills, Jacksonville Jaguars, and the St. Louis
Rams are all favorites. The Rams are the biggest favorites, and the Bills are
the smallest favorites. The Carolina Panthers, Tampa Bay Buccaneers, and New
Orleans Saints are all underdogs. The Saints are the biggest underdogs, and the
Panthers are the smallest underdogs.

How Do I Figure out How Much Money I’ll Win on a Moneyline Bet?

If you’ve been following along half asleep, now is the time to turn up that
attention. This part isn’t that confusing, but it is the part that most people
usually get lost on. Don’t worry, though. We are going to take it slow and walk
you through it step by step with plenty of great examples. You’ll be an expert
teaching everyone else in no time.

The amount that you win or lose on a moneyline bet is set by the plus or
minus sign and the number that is attached to it. Let’s start with the times
that we are the underdogs.

As an Underdog

As we already know, when we are the underdogs we are going to get paid more
than a standard even bet. If you’ve ever bet with friends, you probably bet like
this…”If my team wins, you owe me $10. If your team wins, I owe you $10.”
Regarding a moneyline, that would look like either +100 or -100.

The number after the plus sign is the amount we will win for every $100 we
bet. So in our bet with our friend, for every $100 we bet, we will win $100.
This is an even money bet. Let’s pull up our football lines from earlier to look
at a few more examples.

• If we were to bet $100 on the Carolina Panthers, we would get paid $105 for a
  winning bet.
• If we were to bet $100 on the Tampa Bay Buccaneers, we would get paid $110
  for a winning bet.
• If we were to bet $100 on the New Orleans Saints, we would get paid $135 for
  a winning bet.

This does not mean that you have to bet in even increments of $100. If you
bet more or less, it will just follow the same ratio of payouts. We can divide
the number by 100 and get the amount we will get paid for every dollar we bet.
For example, let’s look at a few different bet amounts on the New Orleans
Saints.

Currently, we already know that if we were to bet $100 on the New Orleans
Saints, we would get paid $135 for a winning bet.

If we wanted to figure out how much we would get paid per $1 bet, we would
divide the moneyline number by 100. 135 divided by 100 equals 1.35. We would get
paid $1.35 for every $1 we bet.

So let’s apply that to a few bet numbers…

• If we were to bet $50 on the New Orleans Saints, we would get paid $50 times
  $1.35, or $67.50 for a winning bet.
• If we were to bet $250 on the New Orleans Saints, we would get paid $250
  times $1.35, or $337.50 for a winning bet.

As a Favorite

Let’s take a look now at what a moneyline bet would pay out if we are a
favorite. As we already know, when we are the favorites we are going to get paid
less than a standard even bet as we are probably going to win our bet more
often.

The number after the minus sign is the amount you have to bet to win $100.
Let’s pull up our football examples again to make this a bit clearer.

• If we wanted to win $100 on the Buffalo Bills, we would have to bet $125.
• If we wanted to win $100 on the Jacksonville Jaguars, we would have to bet
  $130.
• If we wanted to win $100 on the St. Louis Rams, we would have to bet $155.

As you can see, we have to wager more money for the same payout the bigger
favorite the team is. Again, this does not mean that you have to bet in $100
increments. If you’d like to find out the amount you will win on other sized
bets, you need to figure again out the amount you will win per $1 wagered. As an
underdog, we divided the moneyline number by 100 to get that amount. As a
favorite, we have to do it slightly differently. We need to take 100 and divide
it by the moneyline number.

For example, if we wanted to figure out how much we would win for each dollar
wagered on the St. Louis Rams, we would take 100 and divide it by 155 which
would give us roughly $0.65. This means that for every $1 we wager, we will get
paid a profit of about 65 cents.

• If we were to bet $50 on the St. Louis Rams, we would get paid $50 times
  $0.65, or $32.50 for a winning bet.
• If we were to bet $250 on the St. Louis Rams, we would get paid $250 times
  $0.65, or $162.50 for a winning bet.

Remember these are the profit number on a winning bet. You do receive your
original wager back as well. For example, if you made the most recent bet we
talked about for $250, the casino isn’t going just to hand you $162.50. That
would be a terrible deal for you. They are going to hand you $250 plus $162.50
for a total of $412.50. The $162.50 is the amount that you profited on your bet.
This is the case regardless of if you are betting on a favorite or an underdog.

The bottom line is that the odds all indicate your profits relative to a 100
unit base figure. When your team is a favorite, the number after the minus sign
is how much money you have to bet to win $100. When your team is an underdog,
the number after the plus sign is how much money you win for every $100 you bet.

Decimal Odds

Up until this point, we have been using the whole number format for moneyline
bets, also referred to as the American odds format. This format is the format
you will see for betting odds in the United States predominately and online in a
lot of sportsbooks. In most other areas of the world, you will see what are
known as decimal odds. Here is what the same line would look like in both
formats.

American Odds

Decimal Odds

These lines mean exactly the same thing. We already have talked about the
specifics of American Odds and how to calculate your payouts with them. Now
let’s walk you through everything you need to know about decimal odds and how to
calculate your payouts.

The decimal odds represent the amount that you will win, including your
original bet for every dollar wagered. In other words, this is the total amount
that you will be given back by the sportsbook if you win your bet. So in the
above example, if you bet $1 on the Cowboys and they won, you would receive
$1.68. $1 of this would be your original bet, and the $0.68 would be your
profit. If you were to bet $1 on the Packers and they won, you would receive
$2.30. $1 of this would be your original bet, and $1.30 would be your profit. As
you can tell in this example, the Cowboys are the favorites to win the game.

A completely even money bet would be 2.0. This means that if you bet $100 on
this bet, you would profit $100. The sportsbook would give you your original
$100 wager back, plus your $100 profit. Any team with a decimal odds number
greater than 2.0 is going to be the underdog, and any team with a decimal odds
number less than 2.0 will be the favorite. The only exception to this is the
straight up bets where the sportsbook puts both bets at the same odds and
adjusts for their juice (which we are about to discuss.

The Sportsbook Juice and Moving Lines

You might be starting to wonder how the sportsbook makes any money off of
this. You also might be assuming that the sportsbook is just gambling against
you. This is actually not what is going on. What the sportsbook tries to do is
get the same amount of money bet on each side of a game and then takes a small
percentage from all of the payouts. Let’s break down both of these points one at
a time, to make them more clear.

The Sportsbook Percentage

Let’s look at an example of a game where both teams are evenly matched. In
this example, the Dallas Cowboys and the Green Bay Packers are playing, and the
sportsbook thinks that both teams are exactly equal. You would expect then that
the lines for both teams would be -100. Meaning, that for every $100 you
wagered, you would win $100. Unfortunately, this is not the case. The moneyline
for this game would look a:

This means that regardless of which team you bet on, you will receive $90.91
for a winning bet. The sportsbook takes about 10% off the top of every winning
ticket. This is known as the house juice and is effectively how the sportsbook
makes its money.

Money From Both Sides

As a continuation of the above point, the sportsbook is always going to want
to get an even amount of money on both sides of the bet. Let’s say in our above
example that $1000 comes in on the Cowboys and $500 in bets comes in on the
Packers.

If the Packers win, here is the accounting for the sportsbook:

• Took in $1500 in total bets
• Packers win
• Payout the original $500 in bets
• Payout winnings of $500 times $0.9091, or $454.55
• $1500 – $500 – $454.55, or $545.45 in profit A great day for Packers fans
  and a great day for the sportsbook.

If the Cowboys win, here is the accounting for the sportsbook:

• Took in $1500 in total bets
• Cowboys win
• Payout the original $1000 in bets
• Payout winnings of $1000 times $0.9091, or $909.10
• $1500 – $1000 – $909.10, or $409.10 in losses A great day for Cowboys fans,
  but an awful day for the sportsbook.

As you can see, one of these scenarios is favorable for the sportsbook, and
the other is not. For this reason, the sportsbook will try and bring in the same
amount of money on each side if the bet is even. Here’s the same scenario if the
casino brings in $1000 on both sides of the bet.

If the Packers win, here is the accounting for the sportsbook:

• Took in $2000 in total bets
• Packers win
• Payout the original $1000 in bets
• Payout winnings of $1000 times $0.9091, or $909.10
• $2000 – $1000 – $909.10 = $90.90 in profit for the sportsbook

If the Cowboys win, here is the accounting for the sportsbook:

• Took in $2000 in total bets
• Cowboys win
• Payout the original $1000 in bets
• Payout winnings of $1000 times $0.9091, or $909.10
• $2000 – $1000 – $909.10 = $90.90 in profit for the sportsbook

The sportsbook couldn’t care less who wins this game, and that is how they
like it. The smaller guaranteed profit is how they like to operate. If the lines
are not even, it gets a bit trickier for the casino as they will need more bets
on one side, but the guiding principle is the same. They try and get the correct
amount of bets on each side so that no matter who wins, they profit.

The way the sportsbook does this is by shifting the moneyline to make one
side more enticing and the other less enticing. For example, let’s look at our
above example where too much money was coming in on the Cowboys. The sportsbook
might shift the line to something like -130 for the Cowboys and shift the line
to something like +110 for the Packers. This will make more people, and more
money starts coming in on the Packers as you will now be getting a much better
payout if the Packers win. Subsequently, you will be getting a worse payout if
the Cowboys win and have to risk more money to get the same payout. The
sportsbook will continually shift these lines back and forth if need be to try
and get the amount of money they want on each side. It doesn’t always work out
perfectly for them, but that is not going to affect you as a bettor at all.

If you’d like to learn more about the sportsbook juice, here’s a great link
that
goes into a bit more detail on the topic.

Ties

When it comes to ties, it will all depend on the sport you are betting on and
the sportsbook you are betting at as to how the tie will be handled. Typically,
if you are capable of betting on a tie, then the other two win bets would be
losses in the event of a tie. If it is a sport where you are not capable of
betting on a tie, both bets would typically be a push, and you would receive all
of your money back with no profit or loss. Sports like soccer allow patrons to
bet on ties and most sportsbooks treat these as losses if you bet on a team to
win. Sports like football, you cannot bet on a tie (except as a prop bet), and
therefore these bets would be treated by most sportsbooks as a push. If you bet
$100, you would get your $100 back.

Moneyline Strategy

Just because this bet is so simple does not mean that it can’t be a
profitable bet for you. The professional bettors use this bet on a daily basis
to support their livelihood. Remember, how complicated a bet is has nothing to
do with how good the payouts are going to be. For some reason people like to
over think this and they believe that there are special complex bets that are
only available to seasoned sports bettors. This is simply not true. If you’d
like to look into some specific strategies to help maximize your winnings with
moneyline bets, here’s a great
guide we’ve put together for you to check out.

Betting on sports for many people adds to the enjoyment of viewing. Instead of just flipping a contest on television or your phone, having “skin in the game” heightens the experience.

But what happens when you lose a sports bet, and all that excitement turns into dissatisfaction? It’s one thing when your favorite team loses, but practical thinkers realize they are not on the team’s payroll and any defeat doesn’t cost them a dime. However, if you had money and, in some cases, too much money involved, in the immortal words of Chris Farley, “…that’s going to leave a mark!”.

Here are common-sense rules to follow about how to cope with losing sports bets for a day, a week or hopefully not, for a month.

Respect Your Bankroll

When doing any sort of betting on sports, it’s not about how much you win, it’s how much you can afford to lose.

Let’s face it, all of us throw away money on dumb things, and we do it more than we care to admit. Say we are having a tough time at work, the bosses are harping, and instead of living your life in a normal fashion, we go out for drinks and food too often for a month, and after that period we realize that we are way over our normal budget and we have to cut way back for the next 30 days to get back on track.

In essence, you realized you spent money you really should not have and adjusted. This directly applies to set a bankroll for betting sports. If you have $100, $500 or a $1,000 to use for your entertainment, make sure that will not impact your lifestyle because the sportsbooks are creating betting odds that appeal to both sides of a game with the hope that 100 bettors take one side and 100 other bettors choose the other.

If you have, say, $500 to wager with, betting $100 a game is foolhardy, because you could blow through that in no time. If that is how much you have, you should be more in the $20 to $30 a game betting. Respecting your bankroll and staying within your limits doesn’t make losing any less painful, but it can take the sting out.

Understanding Money Management

Any true sports betting professional will extol the virtues of managing your money. It’s like the famous old line, “It’s not how much money you make that matters, it’s how much you keep.”

In sports wagering, you are going to have rough days, that is why for many, flat betting (same amount wagered on each game) makes sense for most gamblers.

This takes the pressure off of trying to win the - one big bet. Every sports bettor has done this and eventually learned from it. If you made eight wagers and won six of them, or 75 percent, and ended up losing money on the day, your methods are wrong. You should never have that much money riding on one outcome having won that percentage of bets.

The impact of one loss should not alter your outcome that severely.

NEVER Chase Losses

The best thing that ever happened to bookies or sportsbooks was Monday Night Football and later, Sunday Night Football. This is some of the easiest money they ever make, because countless bettors who suffered a losing day will try and get even, betting on one game they were indifferent about to start with.

Best advice: NEVER chase losing days. The beauty of sports betting is that there is always another game another day. Think about your everyday life; do you make great decisions every day of the year? Of course not. You like, everyone makes bone-headed mistakes, so why would betting on sports be any different?

If you had not decided to bet on the Sunday or Monday night game at the start of the day, trying to play catch up is often a bad choice.

Losing is A Component of Sports Betting

In any given sport, the very best experts having a great season are going to lose four in 10 wagers at the best. Oh sure, a few outliers will do even better, but those are not many.

If losing drives you crazy, betting on anything, let alone sports, probably isn’t for you. If you are a salesman, you don’t close every deal and will have hot and cold streaks. As a professional, you have to deal with the results and look to improve. The same is true when betting money on games; you have to have the mental resolve to take the good with the bad.

How to Position Yourself to Lose Fewer Bets

Just like at your place of employment, how you end up doing better is working harder, smarter and putting in the effort to improve. If you want to win more wagers, having better, useful information can place you in a more advantageous spot to win.

That requires time and a desire for success. Think of this way: you make 100 bets at $100 apiece and you win 50 of them. Now take the time and find methods to say win five more games, and you have gone from losing $500 to winning $550. That’s an investment in yourself.

If your life is too busy and pulling you in different directions, a Doc’s Sports subscription can be a wise choice to curtail losing. Each Doc’s handicapping expert was thoroughly vetted and only shares his expertise at Doc’s and no place else, all at very affordable pricing.

Losing at sports wagering is not fun, but by following these betting tips, you can find it more tolerable.

Doug Upstone of Doc’s Sports has 21 documented No. 1 titles and finished in the Top Ten 80+ other times in a distinguished career. Doug as a professional handicapper/writer, has written for various well-known sports betting websites and several of the football newsletters you have read before.

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