Over/Under Betting

In the world of sports betting, there are many types of bets to choose from. The most common types of bets are moneyline, spread, and parlays. Players choose which kind of bet suits their goals and the sport best. For example, moneyline bets are the clearest because they are win-or-lose wagers. Therefore, a bettor would place a moneyline bet on a particular team winning a game.

This article will look at over/under bets which are also widely popular among sports bettors. With these, the punter is placing a wager on whether a game's combined total is over or under a specific score.

What is an Over/Under Bet?

When placing a bet, players have a series of objectives that guide their bet choice. For instance, they may want to place a point spread bet, where they bet on the favorite or the underdog scoring a certain amount of points.

Alternatively, they may want to place a teaser bet, changing the point spread of a bet to make it easier to win. Of course, the cost of lowering the odds is that the payout will also go down. In an over/under bet, the bettor is wagering on whether a particular score goes over or under a set total. Players frequently use it in two-team games.

The mobile sportsbook adds the game's total score, and the player wagers on whether the outcome is over or under that score. It is a type of bet commonly used as a prop bet or in games with low scores, for example, soccer.

This type of bet suits props or proposition bets because they are usually based on a question or proposition. The bet will be along the lines of 'How many passing yards will Dan Marino have?'. The bettor will wager on whether the number of passing yards will exceed the posted total. It differs from other kinds of bets because there has to be a set value, or sum, that forms the basis of the wager.

In moneyline bets, for example, there is no need to state a total; it can just be a simple case of betting on a team to win. With point spread bets, the bettor is wagering on a team to succeed within a specific range.

Example: Over/Under Bets Explained

It's always helpful to look at a few examples when trying to understand different types of bets. Over/under betting is relatively straightforward, but it can get more complex when paired with other forms of bets.

A simple example of an over/under bet would be to bet on the combined total of an NFL game. Let's say the Pittsburgh Steelers played against the Dallas Cowboys in the Super Bowl. They are evenly matched, as they have played each other 33 times, with Pittsburg winning 16 games and Dallas winning 17. Therefore, the sportsbook would expect it to be a close game with high scores. They could set the total at 52.5.

If a bettor places a bet on the over, the combined total score for the game would have to be over 53. However, if they lay a wager on the under, the total would have to be under 52.

The 0.5 on the score is to prevent 'the push,' which occurs when there is a draw between the teams. If a tie happens, the sportsbook has to return the wager, and they make no money. To avoid this, they add 0.5 to the score.

How to place an Over/Under bet

The first step in placing any bet is to select a licensed sportsbook. This is important because it means that money is protected. The next thing to do is to register or sign in. Once signed in, the bettor should navigate to the game they want to place a bet on.

They will see the over/under total and the odds. The player should check that the total matches their game expectations. The next thing to check is the odds. These are usually set to -110, but they can vary.

If the total and the odds are to the bettor's liking, they should click on the game and add it to their betting slip. The final stage is clicking on submit, which places the bet. The only thing left to do is to wait for the game.

Understanding How Over/Under Bets Work

Bettors often refer to these types of bets as totals or shorten 'Over-Under' to 'O-U.' They are called totals because the wager depends on an event's expected total.

Over/under-explained: Look at the total and wagers on whether it will be over or under that amount. It differs from other bets because it is not concerned with whether a team wins or loses but with an event that produces a total during the game. This can be the combined end score of the game or a score to do with an individual player.

These bets can produce great results for bettors. There are games where it's easy to predict who will win or lose and by what margin. By placing an over/under bet, players can take advantage of this predictability and make a good profit.

Of course, as with any betting, a necessary strategy is to spend some time doing research into the teams and the sport. The bettor needs to know if the teams are playing scores high or low when they play each other, and they also need to know what sort of scores the sport itself produces.

For example, NFL matches can be high scoring, with combined scores going into the 40s or 50s. However, soccer is a low-scoring game with combined scores generally under ten. Therefore, bettors need to consider the average scores in the sport. One of the most significant benefits of this type of bet is that it doesn't matter which team wins because the bettor wins based on both teams' combined performance.

How is the Over/Under Total Established?

When sportsbooks set the totals for games, they consider many factors, such as determining the over/under meaning and the total and whether it is an indoor or outdoor game. Environmental factors can affect outdoor games like NFL and baseball.

For instance, in baseball, the wind is taken into account because it can affect the speed and direction of the ball. Other factors affecting the total are injuries, coaching style, lineups, and previous performance. The amount of money bettors place on the over or under can also affect the total.

If the sportsbook sees bettors are placing a lot of money on the over, they may change the odds of the Under. For example, the total odds may start at -110. However, if bettors are betting heavily on the Over, the sportsbook can change the odds to -120 on the over and +100 on the under. Therefore, the bettor will receive $10 for every $10 invested on the Under, but they must invest $12 to receive $10 on the over.

How to Work Out the Payout

The payout depends on the odds. There are three ways of expressing them: fractions, American odds, or decimals. In short, they are alternative ways of saying the same thing. The American odds are whole numbers, with a plus or minus in front of them.

The most common odds are -110, which means that for every $110 winning bet, the bettor receives $100 in winnings. In over/under betting, it is normal for the starting odds to be -110. However, the sportsbook can alter the odds. Sometimes, they will find that bettors are wagering heavily on the favorite. So they change the odds to encourage bets on the underdog.

The new odds could be -120 on the favorite and +115 on the underdog. If the bettor placed $100 on the favorite, they would get $83.33 as their winnings. Alternatively, if they placed $100 on the underdog, they would get $86.96.

Over/Under Betting Strategies

Choosing the right bet for an event can be complex; however, many strategies can simplify things. The first factor in understanding an over/under bet is whether the total is a good assessment of the overcome.

The bettor needs to look at the total given and see if they feel it's achievable. After all, even sportsbooks get things wrong, and if they over-or underestimate the total, the chances of the bet winning will be affected.

Another thing to consider is the odds. An excellent winning strategy is to shop around for good odds. Bettors can look at different sportsbooks and see which offers the best odds, and they should find odds that pay the least amount to the sportsbook.

Parlays and Over/Under bets

One of the more complex types of bets is the parlay. We often refer to this bet as combinations, combos, accumulators, or multi-bets. This is because the bettor is not betting on just one event; they are betting on a combination of bets.

Therefore, a parlay can include any number of individual bets. One important thing to remember is that all bets within the parlay must be won for the parlay to pay out. An over/under bet can be a significant part of a parlay, and there is no reason why a series of over/under bets cannot make up a whole parlay.

However, using different types of bets in a parlay is best, making them more likely to win. A good parlay combination could be an over/under bet on a soccer game, a point spread on an NFL game, and a teaser on a basketball game.

Over/Under and In-Play Petting

This form of betting can be fascinating. The sportsbooks set in-play bets once the game has started. Not all sportsbooks take them, as they need the sportsbooks to work out the lines and the odds very quickly. However, those that do so offer over/under bet lines during commercial breaks.

This gives bettors time to look at the odds and see if they feel it's a good bet. Going for an over/under during a game can be a great idea, and it gives the bettor time to see how the game is going, so they have a better idea of the total final score.