Bet The Over Meaning
If you’ve ever heard of over/under bets before, these are going to seem fairly similar. In a basketball game, you would typically bet on if the number of points scored by both teams was over or under a certain amount. This would be the same for football as well as most other sports. Combat sports, like MMA, are a bit different, though. A totals bet is a wager where you will predict that an occurrence will be over or under a certain threshold. You can probably guess why they are called over/unders now. For example, you could bet on the over/under total points score in a basketball game. The bet might be over/under 165.
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Weather you are new to sports betting or you have accounts with multiple online bookmakers, the question of the rollover is bound to come up and it will come up sooner rather than later. In this article we will explain you what is the rollover, when it comes to sports betting and what to look for when dealing with the bookmakers' rollover requirements. The question about rollover comes up as soon as you open an account with one of the top bookmakers and it's time to take advantage of the betting site's bonus offer. This is where one usually finds the rollover requirements and starts to wonder, what is rollover? The bookmakers, for some unknown reason, don't really take time to explain it. Here we will give you the answers.
Bet Meaning Slang
What is “rollover”?
Understanding rollover is not hard t all. In simple terms, the rollover is a wagering requirement imposed by the online bookmaker and associated with a bookmaker bonus offer. It simply shows you the amount you need to bet before your bonus becomes eligible for withdrawal. It always takes the form of multiples and will be noted by the betting website on its bonus terms and conditions. Let's look at some examples and you will instantly understand how simple it really is. For example, let's say that an online bookmaker is offering £100 match bonus when you deposit £100 in your betting account and the terms and conditions state that before you can withdraw your bonus you must complete a 5x (five times) rollover the deposit plus the bonus. Now, to someone who bets online for the first time, rollover means nothing. But in the above example, it simply means that before the player could withdraw the bonus, he or she must place wagers in the total amount of £1,000. How did we get to this number? The 5x rollover on the deposit and bonus could be written simply as a mathematical equation, i.e. 5x(£100+£100)=£1,000. As you can see, understanding rollover is very simple. Most of the time (unless noted otherwise by the bookmaker), you will simply multiply the rollover by the sum of bonus and deposit. An example when you do differently is, if you get a free bet by the bookmaker, in which case you simply multiply the free bet amount by the rollover, since there is no deposit involved.
Now that you know what rollover means in sports betting and how to calculate it and turn it into actual monetary value, let's make a few points. First, you must understand that when we mention wagering requirements, it simply means the amount that must be wagered, not lost. In other words, if the rollover shows that the wagering requirement is £100, it just means that you must place bets worth £100, how many bets or how many losers – it doesn't matter. For those of you who have played at online casinos, the rollover is just like the playthrough requirement the casinos put on their bonuses.
And if you asked yourself why isn't the wagering requirement simply stated as £1,000 (taking our example above) instead of 5x rollover, give yourself a high-five, you are thinking. The simple truth is that most of the bookmaker bonuses are fluid and are calculated as a percentage of your deposit, rather than a fixed amount. Therefore if the book offers a 100% bonus with 5x rollover, the wagering requirement will be dependent on the amount you deposit. For example, if you deposit £50 and get £50, the amount you must bet before withdrawal will be just £500, since 5x(50+50)=500, unlike the previous example, where it is £1,000. Of course, if we are talking about a free roll, let's say £5 free bet, then the bookmaker could simply state the amount you need to wager, but most of the online bookmakers still use rollover, but more for continuity and avoiding confusion, rather than for any special reason.
We have the rollover explained, but how about comparing the rollovers? How do you decide which rollover is good and which rollover is too high? Most bettors agree that any rollover 5x and under is a good bonus offer. Some bookmakers go as low as 2x rollover on their promotions, but those are hard to come by. On the other side, 10x rollover is very high and some bookmakers have the audacity to require players to complete rollovers as high as 15x, at which point it's never worth to take the bonus, the requirements are simply impossible to complete. Therefore look for five times and under.
An over–under or over/under (O/U) bet is a wager in which a sportsbook will predict a number for a statistic in a given game[1] (usually the combined score of the two teams), and bettors wager that the actual number in the game will be either higher or lower than that number.[2][3] For example, in Super Bowl XXXIX, most Las Vegascasinos set the over–under for the score of the game at 46.0. A bettor could wager that the combined score of the two teams would be either more than or less than that number. Since the combined score of that game was 45, anyone who had bet on 'under' won.
Initial and final value[edit]
The goal of a sportsbook is to have an equal value of bets on both sides of the over–under. In theory, this means that the manager could set the value at zero and then re-adjust based on either the number of incoming bets and/or events that influence the potential outcome. In practice, the initial value is based on both quantitative (e.g. win–loss record, average points per game, etc.) and anecdotal information (e.g. media reports, injury status of players, etc.).
As with other types of bets where the odds of either outcome are meant to be even, the vigorish (or 'vig') is typically set at or about 5% of the total wager. Using American odds, this will result in both outcomes initially being quoted at -110 (i.e. bettors must risk $110 to win $100). If the amount bet on both outcomes is exactly even, using such odds would result in the sportsbook earning $5 in gross profit for every $110 wagered.
Of course, bettors will not necessarily risk the same amount of money on both outcomes every time. In such circumstances, there are two ways a sportsbook can mitigate the risk. The first is to adjust the O/U while keeping the odds of both at -110. For example, if the O/U for a football game is set at 45.5 and the action heavily favors the 'over' then the O/U could be adjusted to 46.5 to encourage bettors to take the 'under.' The risk here is that the sportsbook could lose a lot of money by being 'middled' - using the aforementioned example, if the final combined score is 46 then the sportsbook would be obligated to pay both the initial bettors who bet 'over' and the later bettors who bet 'under.'
The other method to mitigate risk is to adjust the odds on the initial O/U, which is slightly more complicated but eliminates the risk of being 'middled.' In the aforementioned example, the 'under' could be adjusted to -105 while the 'over' is changed to -115 (meaning bettors would have to risk $105 and $115 respectively to win $100) in order to make the original 'under' proposition more attractive (and the 'over' less so) to bettors. In actual scenarios, even adjustments of -100 (i.e. 'even money') and -120 are common place as sportsbooks typically endeavor to maintain steady margins and minimize risk.
Statistics[edit]
Though this bet is most commonly made with the combined score of the two teams, many other statistics can be used, including:
- In American football, a player's or team's total rushingyards or attempts, down conversions (first or third), interceptions, completions, field goal percentage, etc.
- In basketball, a player's or team's total assists, blocks, turnovers, steals, etc.
- In baseball, a player's or team's total number of home runs, RBIs, etc.
Dice[edit]
A variant of overunder betting, known as Under Over, is a dice game played at various festivals. The object of the game is to predict whether the dice will roll to a total of under 7, over 7, or at 7. The game is typically played with 2 dice.
A player typically places a wager on one of three spaces. These spaces are:
- Under 7 (usually pays 1–1)
- Over 7 (usually pays 1–1)
- 7 (usually pays 4–1)
Bet Meaning Text
For instance if one bets one dollar on under and the dealer rolls under, they gain a dollar as well as get their dollar back. If the dealer rolls a seven and one bets on it, they make four dollars. Once all the bets have been placed the attendant closes the betting board with a screen and then puts the dice through the chute. Players then get paid accordingly.
One variation of Under Over involves foam dice, two of which are thrown in the middle of the players; in another variation, two balls are thrown into a giant wheel consisting of twelve spaces of numbers ranging from 1–6. No wire fence is used to block the bets in that case.
References[edit]
Bet Over Under Meaning
- ^Kochan, M. (2013). Secrets of Professional Sports Betting. Cardoza Publishing. p. 12. ISBN978-1-58042-438-7. Retrieved April 25, 2015.
- ^Williams, L.V.; Siegel, D.S. (2014). The Oxford Handbook of the Economics of Gambling. Oxford Handbooks in Economics Series. OUP USA. p. 205. ISBN978-0-19-979791-2.
- ^Fodor's Las Vegas 2015. Full-color Travel Guide. Fodor's Travel Publications. 2014. ISBN978-0-8041-4300-4.