Ohio has a long history of gambling, dating back to the days when riverboats plied the Ohio River offering games of chance. In 2019, Ohio lawmakers passed a bill legalizing sports betting. The law went into effect in October 2019, and since then, a number of sportsbooks have been launched in the state. One of the latest news is that Bet365 Ohio launches sportsbooks for its customers and potential new users.
There are three main types of sports bets that you can make in Ohio: Moneyline, point spread, and totals (over/under) bets.
Moneyline bets are the simplest type of bet, where you simply pick who you think will win the game. The odds will be expressed as either a positive or negative number, and the favorite will always have negative odds (meaning you have to bet $100 to win $100), while the underdog will have positive odds (meaning you would win more than $100 if you bet $100). If you think the favorite will win, you would bet $100 on them and hope they win. If you think the underdog has a chance, you would bet $100 on them and hope they either win outright or lose by less than the spread.
Point spread bets are a bit more complicated, as they involve “handicapping” the favorite by a certain number of points. This is done to even out the betting field, as oddsmakers expect the favourite to win by a certain margin. For example, let’s say that Ohio State is playing Michigan in football, and Ohio State is favored by 7 points. This means that oddsmakers expect Ohio State to win by 7 points, so if you bet on Ohio State -7, then they would need to win by more than 7 points for you to win your bet. If they only won by 6 or less, or if they lost outright, then you would lose your bet.
Totals (over/under) bets involve betting on whether the total score of the game will be over or under a certain number. For example, let’s say that the total for Ohio State-Michigan is set at 45 points. If you bet “over”, then both teams would need to combine for 46 or more points for you to win your bet; if they only combined for 44 or fewer points, then you would lose your bet. If you bet “under”, then both teams would need to combine for 44 or fewer points for you to win your wager; if they combined for 46 or more points, then you would lose your wager.