Gambling What Does Over Under Mean

What does over under mean as a sports betting term? Over Under refers to the betting line on the total number of a certain statistic usually points.

In Gambling What Does Over Under Mean
Gambling What Does Over Under Mean

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Surprisingly, the over-under would be one of the easiest bets to make at the sportsbooks, whether online or offline. The over-under is a type of bet for which the bookmaker attempts to predict an exact sport statistic for a given game and the bettors would then in turn try to guess whether the statistic would be higher (over) or lower (under).
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Vig or Vigorish

- The bookmaker's commission. Also known as the 'juice' which is assumed to be 10% on a losing wager.

Details

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Normal time definition for bets

Almost all bet types are based on what is happening in the normal time. For example a football match often includes a couple of minutes added time, making it last more than 90 minutes, which is considered normal time. The normal time however excludes extra time and penalties, which can be played if a game ends in a draw after normal time.

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Hook

- A half point that is added to football or basketball betting lines through buying points. Referred to as buying the 'hook'.

Variants

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What does 'doubling down' mean?

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7 Answers Lisa Holtham , Seeker of Truth, Student of Scripture and Ancient Hebrew, Voracious reader Answered 54w ago · Author has 106 answers and 131.2k answer views

“Doubling down” is a gambling term and refers to increasing your risk by doubling your bet instead of letting what you originally bet ride.

In politics, etc., for example, they use the term to describe someone as potentially being foolish by increasing their rhetoric or claims against someone or something rather than letting it go, pulling back or apologizing.

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Sportsbook

- A company that accepts bets.

What is the definition of 'pk' line?

Modified on: 12/04/18

On some matches you may see the spread expressed as 'Pick' or 'PK'. This is also referred to casually as 'a Pick'Em'.

This means the spread is 0 for each team, no points are in effect.

If you bet on the pk or -0 spread on a team and that team wins the match 1 - 0 (or any other score) your wager is a winner.

If the match ends in a draw wagers on spread 0 (pk) will be refunded.

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Notes[ edit ]

^ '18 USC Ch. 50: GAMBLING' . house.gov .
^ 'Fifth Circuit ruling' (PDF). www.caselaw.lp.findlaw.com . Archived from the original (PDF) on 2008-07-23.
^ (Davies, 2001)
^ Cortis, Dominic (2015). Expected Values and variance in bookmaker payouts: A Theoretical Approach towards setting limits on odds . Journal of Prediction Markets . 1. 9 .
^ 'N.J. Gov. Chris Christie: 'Let them try to stop us' from sports betting' . Associated Press . May 25, 2012. Retrieved March 16, 2018 – via CBS News .
^ Fairleigh Dickinson University PublicMind Poll 'US Public: Keep Las Vegas in Las Vegas' press release (March 2010)
^ ab Fairleigh Dickinson University's PublicMind, (December 19, 2011). A Nation of Bettors? (press release)
^ Fairleigh Dickinson University's PublicMind, (October 10, 2011). NJ Voters Favor Sports Betting, but not Tax Credits for Meadowlands Developer (press release)
^ Fairleigh Dickinson University's PublicMind, (April 18, 2011) Odds Favor NJ Referendum on Sports Betting (press release)
^ Fairleigh Dickinson University's PublicMind, (February 21, 2011). Sports Betting, Sure Thing; Internet Betting, Nyet! (press release)
^ Fairleigh Dickinson University's PublicMind, (April 20, 2009). Legalized Sports Betting in New Jersey
^ Fairleigh Dickinson University's PublicMind, (March 11, 2010). US Public: Keep Las Vegas in Las Vegas (press release)
^ Coffey, Sarah (May 25, 2012). 'N.J. Moves Towards Legal Sports Betting This Fall, in Time for NFL Season' . The National Law Review . Retrieved May 27, 2012.
^ Rob Tornoe, for NewsWorks (17 August 2012). 'Sports betting should be legal in the Garden State' . Newsworks.org .
^ Fairleigh Dickinson University's PublicMind, (August 21, 2012). Opinion divided, but majority give the state the green light to allow sports betting in defiance of federal law (press release)
^ Americans favor legalizing sports betting, poll shows, NJ.com, Nov 2014 http://www.nj.com/politics/index.ssf/2014/11/americans_favor_legalizing_sports_betting_poll_shows.html
^ New Jersey’s Appeal of Sports Betting Ban Heads to Supreme Court https://www.nytimes.com/2017/06/27/nyregion/new-jerseys-appeal-of-sports-betting-ban-heads-to-supreme-court.html
^ 'Poll: For first time, majority of Americans approve of legalizing sports betting' .
^ de Vogue, Ariane; Vazquez, Maegan (May 14, 2018). 'Supreme Court lets states legalize sports gambling' . CNN . Retrieved 2018-05-14.
^ ab 'Sports Betting to be legalized in New Jersey on Thursday' . SI.com. June 11, 2018. Retrieved June 19, 2018.
^ Gregg, Katherine (June 19, 2018). 'R.I. Senate committee passes budget bill' . Providence, RI: Providence Journal. Retrieved June 19, 2018.
^ abc 'How close is my state to legalizing sports betting?' . ESPN.com. June 11, 2018. Retrieved June 19, 2018.
^ Lehman, Tom (May 31, 2018). 'Delaware to Begin Offering Full-Scale Sports Betting on Tuesday' . Salisbury, MD: WBOC-TV. Retrieved May 31, 2018.
^ Lehman, Tom (June 5, 2018). 'Delaware Launches Expanded Sports Betting' . Salisbury, MD: WBOC-TV. Retrieved June 5, 2018.
^ 'Sports Pick - How To Bet Guide' . Delaware Lottery. Retrieved May 31, 2018.
^ '3 Mississippi Choctaw casinos will be first to offer sports betting' . AL.com. June 14, 2018. Retrieved June 19, 2018.
^ 'PA Casinos Can Start Applying for Sports Betting Licenses Today' . LegalSportsReports.com. May 31, 2018. Retrieved June 19, 2018.
^ 'Checking in on West Virginia's Sports Betting plans and launch' . Nationalfootballpost.com. Retrieved June 19, 2018.
^ 'An uncertain line between fantasy sports, gambling' https://www.bostonglobe.com/sports/2015/08/02/fantasy-games-draw-scrutiny-ban-sports-gambling-blurs/XxWUs2cwrveLvJe8bFt3wI/story.html
^ 'Legalize and Regulate Sports Betting N.B.A. Commissioner Adam Silver: Allow Gambling on Pro Games', Adam Silver, https://www.nytimes.com/2014/11/14/opinion/nba-commissioner-adam-silver-legalize-sports-betting.html?_r=0
^ http://www.espn.co.uk/chalk/story/_/id/17892685/the-future-sports-betting-how-sports-betting-legalized-united-states-the-marketplace-look-like
^ Rob Manfred: MLB rethinking stance on sports betting - http://www.sportingnews.com/mlb/news/mlb-gambling-rules-rob-manfred-reconsider-pete-rose-hall-of-fame/1dctoqm3i8mvi11ltn6toaigmj
^ 'What’s the NFL’s end game with gambling?', ProFootballTalk, 30 Match 2017 http://profootballtalk.nbcsports.com/2017/03/30/whats-the-nfls-end-game-with-gambling/
^ 'Adam Silver on sports betting: 'My sense is the law will change http://www.espn.co.uk/chalk/story/_/id/20103500/roger-goodell-adam-silver-rob-manfred-gary-bettman-discuss-prospect-legalized-sports-betting
^ https://lasvegassun.com/news/2017/jun/12/casino-industry-ramps-up-effort-to-repeal-sports-b/
^ 'New NBA, MLB Lobbying Doc: 'Sports Leagues Should Be Compensated' . Legal Sports Report . 2018-02-08. Retrieved 2018-02-13.
^ Finley, 2008
^ 'Famous Cricket Spot-Fixing and Betting Scandals' . 12 June 2013. Retrieved 22 June 2013.
^ 'How Hansie Cronje became most infamous villain in cricket's fixing scandals' . 26 May 2010. Retrieved 22 June 2013.
^ 'No sport easier to fix than tennis' . 19 June 2014. Retrieved 7 November 2014.
^ 'Daniel Koellerer banned for life' . 31 May 2011. Retrieved 20 October 2014.

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1. ^ ab Michael Mitzenmacher; Eli Upfal (2005), Probability and computing: randomized algorithms and probabilistic analysis , Cambridge University Press, p. 298, ISBN 978-0-521-83540-4 , archived from the original on October 13, 2015
2. ^ Lester E. Dubins ; Leonard J. Savage (1965), How to gamble if you must: inequalities for stochastic processes , McGraw Hill
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- Moneyline bets do not have a spread or handicap, and require the chosen team to win the game outright. The favoured team pays lower odds than does the underdog, thus, it acts mainly as an enticement to take the underdog for a better payout. Sometimes a bettor may couple this type of bet on the favored team to increase the payout of a parlay.
- Spread betting are wagers that are made against the spread. The spread, or line, is a number assigned by the bookmakers which handicaps one team and favors another when two teams play each other and one is perceived as being more likely to win. The favorite 'takes' points from the final score and the underdog 'gives' points. This number can also be in increments of half-a-point (.5) even though very few sports have .5 point scoring (i.e., The Ryder Cup )
Spread bettingIn the Gambling Act 2005 gambling is defined as betting, gaming or participating in a lottery. That definition distinguishes between activities which need to be .. History of gamblingGambling | Britannica.com Over under in a sentenceWhat is a Point Spread Bet?Related Questions
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Betting
There are several different ways in which betting can be offered:
- fixed odds betting
- pool betting
- acting as a betting intermediary
- spread betting (regulated by the Financial Conduct Authority ).
You need a licence from the Gambling Commission to offer betting services.
Fixed odds betting
The most common form of betting is fixed odds betting where you bet a stake to win a fixed amount calculated by the odds available. For example, a £10 bet at odds of 2/1 would return £30 (£20 of winnings + £10 stake) if successful. If unsuccessful you lose your £10 stake.
Fixed odds betting can be offered:
- in betting shops (off-course)
- on tracks (on-course)
- by remote means (including online gambling).
Pool betting
Pool betting differs from fixed odds betting as winnings are determined by the sum of stakes paid into the pool. The amount you win is calculated by dividing the total pool (minus a commission fee for the organiser) by the number of winning tickets. Pool betting includes:
- racecourse pool betting
- football and other sports pool betting
- fantasy football type competitions.
The Tote (Successor Company) Limited holds the exclusive licence (until mid-2018) to offer pool betting in respect of GB horse racing. Tote can, however, give permission for a company to offer pool betting in respect of GB horse racing.
Betting intermediaries
A betting intermediary facilitates betting between two or more parties. They do not have liability for the bets but often take a commission fee from the winner. Betting intermediaries can be remote or non-remote.
Spread betting
We don’t regulate spread betting. It is the responsibility of the Financial Conduct Authority
Age restrictions for betting
No one under the age of 18 is allowed to bet with a licensed gambling business.
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Initial 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.).

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:

In Gambling What Does Over Under Mean

Under 7 (usually pays 1–1)
Over 7 (usually pays 1–1)
7 (usually pays 4–1)

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.