Gambling 101: What Are Circled Bets?
When it comes to Gambling sometimes you want to go ALL in- but if a game is circled I'm sorry my friend- you can't.
Today on Sports Illustrated's Gambling 101 we are breaking down everything you need to know about circled bets. Wagering options are circled at sports books for a variety of reasons and are common across most betting markets. The primary difference, between regular lines and circled odds, is as mentioned- bookmakers limit the amount that can be wagered on circled games. If a sports book has a $5,000 per bet maximum on regular lines, they may limit wagers to $500 on circled odds. So Why would a bookmaker circle a bet?
Well it could be because of a key injury, a pending trade or adverse weather. But also if there is major uncertainty that surrounds a match, it will remain circled until bookmakers have gained a better handle on the situation.This is why you will likely see that opening odds are often circled. This gives an opportunity to adjust the lines once the initial wave of wagering is complete.
Alright I get it, we always want to bet more when we can't but here is the things about circled games- you have to view them as a red flag. Prior to wagering on them, bettors need to determine why a game is circled. If it's because a key player is questionable- is that a bet you want to take?
On the other side taking a bet before a star player is officially ruled out, bettors can gain value. For example In certain sports, like the NFL and NBA, ATS odds may drop from +8 to +5 points on an underdog once a star player is officially ruled out. It's tough to say what your odds will be so it's important to do the proper research before betting on circled bets. If you need help bookmark Sports Illustrated's Glossary of terms and tune in for another Gambling 101 here on SI.com
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