An Over Under
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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.
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Initial and final value[edit]
Over Under Betting is the second most popular type of NFL betting, just behind spread betting. Over Under Betting is also known as “Game Total Betting” and you will often see it be referred to as either term. Beginner NFL bettors may be confused by Over Under Betting, but it.
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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)
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]
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- ^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.
Shooting An Over Under Shotgun
The 70th NBA All-Star Game will take place tonight in Atlanta, and the coronavirus pandemic has already made sure it is one unlike any other we’ve seen before.
Joel Embiid and Ben Simmons have been ruled out of tonight’s game due to contact tracing. But still, the game is going to happen and our friends at BetMGM are taking your bets. We’re giving you all the information we can from them so you can make your best wagers possible on tonight’s exhibition with the league’s biggest stars.
The lines, courtesy of BetMGM
Point spread: Team LeBron -4.5Moneyline: Team LeBron -175 / Team Durant +150Over-under: 315.5Place your legal, online sports bets in VA, CO, IA, IN, NJ, PA, TN and WV at BetMGM.
Advice and prediction
When you look at the names, scoring, shooting, and passing, Team LeBron is going to be incredibly difficult to beat. LeBron James, Steph Curry, Luka Doncic, Nikola Jokic and Giannis Antetokounpmo in the starting lineup followed by Damian Lillard off the bench?
But the thing about the All-Star games that is easy to forget is how amazing the other team is, too. Kevin Durant isn’t playing for Team Durant, which is a major loss for that side. Still, they have James Harden and he’s been maybe the best player in the league over the past month.
We also have to consider the other aspect of the All-Star Game that makes it different from any other NBA betting situation: the Elam Ending. After the third quarter, they will add 24 points, in honor of Kobe Bryant, to the leading team’s score to determine the target score.
By introducing a pick-up game element where you play to a score, you will see a lot more tough defense in the 4th quarter. That’s what we saw last season and it makes me believe even if one of the teams gets out to a 20 or even 30-point lead, the different ending will result in a competitive game.
What Is An Over Under Shotgun
The Over Under In Betting
But Embiid showed last season during the ASG that he wasn’t afraid to take big shots and while Harden and Irving are great in that spot, but not having Durant on both ends, in addition to not having Embiid during such a high-level game, is going to be too much to handle.
If all things were equal as far as the stars, I would take the points and lean on Team Durant. But something tells me Team LeBron is going to want to hit the target score and get on the first flight out of Atlanta. Also, take the under.
Prediction: Team LeBron 150, Team Durant 135