Betting Against Vegas

[AROS]

I am a total newbie when it comes to betting on sports. I think I did it once when I was in Vegas. The last I heard is the Vegas line for the Seahawks wins is 4.5. But that was a month or two ago so I don't know if that's still the line or not. I live in Western Washington and apparently the only legal way to place a bet on the Seahawks win total is if you go to one of the casinos. So some questions for you fans who know more than I do about legal betting...

1) So let's say the line in Vegas for Seahawks wins is 4.5. If I put $5,000 down on the Seahawks winning 5 games this year, depending on the spread or odds or whatever, I would win a decent amount of change, yes?

2) If I told you that I had a premonition that we would win 8 games, is there a bet I can take saying the Seahawks WILL win 8 games precisely, and if so, would there be precise odds for that bet that I could wager?

I hope this doesn't sound totally stupid but I am completely a newb when it comes to sport betting.

Much thanks in advance.

And yes, I had a premonition that the Hawks win 8 games this year so do what you wish with that information.

 

[AgentDib]

Over/unders involve straight bets which are like double or nothing.

Vegas currently has the Hawks at 5.5 wins. A straight bet to win/lose $100 would typically cost you $110, with that 10% surcharge going to the casino. So if you spent $110 on an Over then you would stand to get $0 back if we won 5 or fewer games and $210 back if we won 6 or more. Snoqualmie Casino has their own sportsbook which may have different odds than in Vegas. With these kind of bets casinos try to set the over/under such that it splits the money and they can earn their 10% with no risk. In the long run you'll lose 10% of your cash on straight bets if you are as good at predicting outcomes as the average NFL bettor.

Alternatively, you can bet on unlikely events if they have a money line, such as Bet 203 with a +2000 money line. That is how much money a $100 bet of yours would return if you won. The Hawks are +500 to make the playoffs in Vegas so if you bet $100 you would get $500 if they made the playoffs and $0 if they didn't.

 

[AROS]

Thank you so much for the very informative reply!

So if I am reading your info correctly, it's basically double or nothing. I put $5,000 in (as example) and get $10,000 if I predict 6 wins, yes?

 

[hoxrox]

It depends on the sports book. Some books have the over 5.5 wins at -130, while some have it at -140.

So if you wager $5,000 at a sports book that has the odds at -130, your winnings would be $3,846. At the -140 sports book, the winnings on a $5,000 wager would be $3,571

If you want to win about $5,000, you would need to wager $6,500 at a sports book that has the odds at -130. (Or bet $130 to win $100 basically)

If you take the under 5.5 wins, most books odds are currently +120. So a $5,000 bet would win you $6,000.

 

[onanygivensunday]

hoxrox is correct but I would like to add some clarity on + and - money lines for future reference.

On + bets, you bet $100 to win whatever the line is. Fox example, say the line is +120 and you bet $100. If you win the bet, you get back your original $100 plus $120, $240 total. But if you lose, you're out $100.

On - bets, you bet whatever the line is to win $100. For example, say the line is -140. In this case, you have to pony up $140, and if you win the bet, you get back your original $140 plus $100, $240 total. But if you lose, you're out $140.

Hope that helps.

 

[AROS]

I really appreciate the information fellas. It makes me think twice about parting with $5,000. I thought it would be doubling the money but it doesn't sound like it.

 

[keasley45]

I am a total newbie when it comes to betting on sports. I think I did it once when I was in Vegas. The last I heard is the Vegas line for the Seahawks wins is 4.5. But that was a month or two ago so I don't know if that's still the line or not. I live in Western Washington and apparently the only legal way to place a bet on the Seahawks win total is if you go to one of the casinos. So some questions for you fans who know more than I do about legal betting...

1) So let's say the line in Vegas for Seahawks wins is 4.5. If I put $5,000 down on the Seahawks winning 5 games this year, depending on the spread or odds or whatever, I would win a decent amount of change, yes?

2) If I told you that I had a premonition that we would win 8 games, is there a bet I can take saying the Seahawks WILL win 8 games precisely, and if so, would there be precise odds for that bet that I could wager?

I hope this doesn't sound totally stupid but I am completely a newb when it comes to sport betting.

Much thanks in advance.

And yes, I had a premonition that the Hawks win 8 games this year so do what you wish with that information.

You've got me considering placing a bet...

 

[AgentDib]

I really appreciate the information fellas. It makes me think twice about parting with $5,000. I thought it would be doubling the money but it doesn't sound like it.

The difference is the casino's take and why they win in the long run instead of bettors just swapping money around among themselves.

Vegas NFL lines have historically been really, really accurate even though they are technically just trying to split the money. The explanation for this is that it's the ultimate example of Wisdom of the Crowds whereby Vegas is getting information from a large amount of sources in the way of bets. It doesn't matter if there are some clueless bettors muddying up the waters because gamblers bet more as they are more confident.

 

[Sgt. Largent]

I really appreciate the information fellas. It makes me think twice about parting with $5,000. I thought it would be doubling the money but it doesn't sound like it.

Idk how well you do for yourself, but I'd never bet this much on sports.

It's fun to go to Vegas and do a bunch of smaller futures bets. So yeah, throw down $100 or whatever if you're bullish on the Hawks. But in general, betting on sports is like setting your wallet on fire.

 

[AROS]

Yeah $5K is a lot of money and although I am VERY confident on the over, the payout doesn't sound like it's worth the risk. Now, say, if I put $5K down and could get $20K in return or something outrageous, then I would definitely do it.

 

[Chukarhawk]

Id take the under. its gonna be ugly

 

[Ad Hawk]

Id take the under. its gonna be ugly

If you're so confident, please tell us how much you're betting... inquiring minds want to know!

 

[Spohawks]

The people who don't understand how the betting system works doesn't bother me, its the 500 wrong answers from people trying to explain the system that drives me nuts.

 

[BlueTalon]

Id take the under. its gonna be ugly

Wanna put a little cheddar on it? A $50 gift certificate says you're wrong.

 

[Spohawks]

Wanna put a little cheddar on it? A $50 gift certificate says you're wrong.

You might get a gift certificate to Tillamook, but you will win!

 

[BlueTalon]

You might get a gift certificate to Tillamook, but you will win!

I'd take a Tillamook gift certificate!

 

[QWERTY]

Yeah $5K is a lot of money and although I am VERY confident on the over, the payout doesn't sound like it's worth the risk. Now, say, if I put $5K down and could get $20K in return or something outrageous, then I would definitely do it.

Well if you put 5k for the Hawks to win the superbowl, it's like 75k+ in return.

 

[AROS]

Well if you put 5k for the Hawks to win the superbowl, it's like 75k+ in return.

My bravado ends at thinking we will win more than 6 games.

 

[onanygivensunday]

Well if you put 5k for the Hawks to win the superbowl, it's like 75k+ in return.

It's a LOT better than that.

Currently at the MGM Grand, a $100 bet on Seattle to win SB 57 pockets you $20,000 in winnings, or a 200-1 bet.

Bet $5000 and you can win $1,000,000. Cash out at $1,005,000.

 

[Rainger]

I am a total newbie when it comes to betting on sports. I think I did it once when I was in Vegas. The last I heard is the Vegas line for the Seahawks wins is 4.5. But that was a month or two ago so I don't know if that's still the line or not. I live in Western Washington and apparently the only legal way to place a bet on the Seahawks win total is if you go to one of the casinos. So some questions for you fans who know more than I do about legal betting...

1) So let's say the line in Vegas for Seahawks wins is 4.5. If I put $5,000 down on the Seahawks winning 5 games this year, depending on the spread or odds or whatever, I would win a decent amount of change, yes?

2) If I told you that I had a premonition that we would win 8 games, is there a bet I can take saying the Seahawks WILL win 8 games precisely, and if so, would there be precise odds for that bet that I could wager?

I hope this doesn't sound totally stupid but I am completely a newb when it comes to sport betting.

Much thanks in advance.

And yes, I had a premonition that the Hawks win 8 games this year so do what you wish with that information.

I have saying 8 or more wins since the draft or before to the snickers and mockery of the haters