A sportsbook is a place where a gambler can place bets on various sports competition like football, basketball, baseball, hockey, golf, soccer, horse racing, boxing and mixed martial arts. Winners are paid when the event concludes, or if does not conclude, when the game has been played long enough to become official; or else, all winnings are returned.
This procedure may bring about confusion since there may be variation of what the Philadelphia sportsbook regards official and what the sports league regards official. Players are urged to meticulously read the sportsbook rules before placing their bets.
For a long time, most sportsbook in the U.S. were located in Nevada, however in the recent years booking has become increasingly popular leading to the rise of Philadelphia Sportsbooks establishments in sports betting in Pennsylvania.
Parx Casino is a renowned, high-end Philadelphia sportsbook establishment for sports betting in Pennsylvania. At the Parx Casino you can place your bets at either South Philadelphia Race & Sportsbook or at the Oaks Race & Sportsbook. Here you will get all your preferred methods of betting, like: straight bets and props, money line, spread, over/under, teasers, parlays and props. Moreover, you can bet online via the sports betting app which you can get on the app store.
Odds shows the likelihood of winning when you place a bet and the potential amount of your winnings. Odds is important in Philadelphia sportsbook because it enables you to envision the outcome of your bet and also the amount that you stand to win. For example, when you roll a dice, there are six feasible results. This means that there is 1/6 probability or 16.67% chance of getting any one outcome.
The basic principle behind odds in sports betting in Pennsylvania is pretty simple. There are three main formats of odds, they generally work the same way but with different ways of expressing. They are:
- a) Moneyline odds: also referred to as American odds they are commonly used in the U.S. (Philadelphia sportsbook). The odds are presented as either a positive or a negative number. For instance, if you saw an odd pf +130 it means that a bet of $100 could yield $130 in winnings, plus the initial stake of $100. A -130 means that you require a stake of $130 to yield $100 in winnings plus the initial $130 deposit.
- b) Decimal odds: these are associated with Europe, Canada and Australia. They are simple and are illustrated as a positive digit generally in two decimal places. A winning bet of 1.8 indicates a return of $1.8 for every $1. A winning bet of 2.75 will yield $2.75 for every $1.
- c) Fractional odds: fractional odds are a little bit tricky to calculate but the basic principle is quite straight forward. An odd displayed as 4/1 is referred to as “four to one” meaning you can win 4 units for every 1 unit staked. It gets a little bit complicated when presented with formats such as 6/4 which basically means you stand to win 6 units for every 4 units placed; you can simplify this to 1.4 win for every unit staked.
Sports with the Best Winning Odds
Football, basketball and tennis are the best sports to bet on in sports betting in Pennsylvania. Of these three football (American) has to be the most profitable sport to bet on. This is because football games happen only once every week. Each team, therefore, takes every game seriously. You also get one week to carry out thorough research on the team(s) you wish to put your money on. Basketball is a good alternative, this is because it usually has some serious underdogs and usually multiple games going on every night. It’s easy to find a game with good odds of winning.