Here’s a short education that covers the various types of football bets, including custom bets and how peer-to-peer betting can offer better odds. Our goal is to enhance your understanding and enjoyment of the TrueBet platform to allow you to make friendly wagers with your friends. Here’s a comprehensive guide on football betting and how TrueBet levels the playing field for you.
Basic Football Bets:
MONEYLINE: The simplest bet, where you pick the team you think will win. Odds may be displayed as positive or negative numbers (e.g., +150 or -200). Positive odds indicate the potential profit on a $100 bet, while negative odds represent how much you need to bet to win $100. The TrueBet Advantage– You will often see money lines at sportsbooks with a large “spread”. For example (-700 / +500), which means you’d have to bet $700 to win $100 (you’re betting on a big favorite), but if want to bet on the underdog, a $100 bet will only pay you $500. This “spread” is eliminated with peer-to-peer betting – In fact, the moneyline on this SAME game on a peer-to-peer platform would be (-600/+600) meaning you can bet LESS ($600 instead of $700) to win $100 and if you bet $100 on the underdog you’ll win $600 (instead of $500 from the conventional sportsbook).
Imagine how this dramatic difference can add up over time!
POINT SPREAD: This bet involves handicapping the favorite team by a certain number of points, known as the spread, to make the game more even. Bettors choose whether the favorite will win by more than the spread or the underdog will lose by less than the spread. You may hear a bettor say “will they cover the spread?” meaning will they beat their opponent by enough to factor in the extra points the other side is given. The TrueBet Advantage– Typical sportsbook point spread bets are “-110” meaning you’ll need to bet $110 to win $100 (on a bet that is essentially a coin flip!). On TrueBet, you’ll only bet $100 to win $100. Imagine how these dramatic savings can add up over time!
TOTALS (Over/Under): In this wager, you bet on the total number of points scored in a game. For example, you might bet whether the total points in a game will be over or under 45 points. The same TrueBet advantage applies as point spread bets.
CUSTOM BETS: These types of bets allow you to select a certain team or individual stat and decide how likely that individual or team is to achieve a certain stat such as interceptions, passing yards, kickoff returns for touchdowns, two-point conversions, etc. A few examples appear below:
OFFENSIVE YARDS Over/Under: this type of custom bet allows bettors to wager on specific player or team statistics. For example, you can bet on whether a quarterback will throw for over or under a certain number of passing yards.
PLAYER PROPS: These bets focus on individual player performances. Examples include betting on a specific player’s total rushing yards, receptions, or touchdowns. The TrueBet Advantage– TrueBet allows you to not only choose a player and a statistic but ALSO make up your own odds on your custom bet. Example: “I’ll bet $10 that Patrick Mahomes will have more than 2 touchdown passes and I want to win $15 if he does”.
TEAM PROPS: Similar to player props, but focused on team performance. You can bet on whether a team will score the first touchdown, make a field goal, or even which team will have the most penalty yards. Example: “I’ll bet $10 that the Jets have more than 205.5 rushing yards, and I want to win $70 if they do”.
IN-GAME: These bets can be placed during a game and are often based on live statistics and events. For instance, you can bet on which team will score next or whether a field goal attempt will be successful.
Peer-to-Peer Betting Advantages:
True Odds: In a peer-to-peer betting platform, odds are determined by the users, not a bookmaker. This often results in more competitive odds and better value for bettors.
Eliminate “Juice”: Traditional sportsbooks charge a commission or “juice” on bets. In a peer-to-peer platform, this commission can be eliminated, allowing bettors to keep more of their winnings by leveling the playing field.
Customization: Peer-to-peer betting platforms can offer more flexibility in creating and accepting bets, including the ability to propose and accept custom bets with other users.
Transparency: Bettors can see the betting action, odds, and outcomes directly, providing greater transparency and control.
Social Interaction: Peer-to-peer platforms can enhance the social aspect of betting by connecting bettors with others who share their interests.
