Badger of Honor
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Wisconsin Football: Sports betting basics

By Tanner Nestle

EVANSTON, IL - NOVEMBER 05: Head coach Paul Chryst of the Wisconsin Bagers waits with his team to enter the field before a game against the Northwestern Wildcats at Ryan Field on November 5, 2016 in Evanston, Illinois. (Photo by Jonathan Daniel/Getty Images)
EVANSTON, IL - NOVEMBER 05: Head coach Paul Chryst of the Wisconsin Bagers waits with his team to enter the field before a game against the Northwestern Wildcats at Ryan Field on November 5, 2016 in Evanston, Illinois. (Photo by Jonathan Daniel/Getty Images) /
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Wisconsin Football - Jonathan Taylor
INDIANAPOLIS, IN – DECEMBER 02: Running back Jonathan Taylor (Photo by Joe Robbins/Getty Images) /

Value

Value is the one thing that’s subjective in all of this. Let’s use Wisconsin’s money line bet in this example. I personally don’t see any value in making that wager because I don’t have enough money to my name to place for the payout to be worthwhile. However, somebody who is a billionaire may think otherwise.

It’s a mortal lock that Wisconsin beats Western Kentucky. If said billionaire agrees with that thinking and places their entire fortune on the Badgers, they may see a nice return when the wager wins. But to the common gambler, that’s not a bet to pay any attention to.

Another way to analyze value is to look at favorites and project timelines. Alabama began as a +250 to win the national championship and had the best odds in that regard. They are the favorite. While they may be the smartest bet because they might be the best team, they may not present the best value. Most people who want to make a season-long bet seek out a better payout than only +250. Clemson, who is also widely regarded as one of the best teams in the country opened at +600, which are significantly more valuable odds if you believe the Tigers are a strong contender to win it all.

If you’re interested in Wisconsin’s odds to win it all, as Lee Corso predicts, the Badgers opened at +2200 to take home the national championship.

Another thing to think about when considering value is how odds will change as the season progresses. If you like Alex Hornibrook to win the Heisman Trophy you will find better odds now rather than later in the season when everybody else becomes interested in Hornibrook’s Heisman chances.

Similarly, if you think Wisconsin will win the Big Ten, a wager now has more value while the payout is +400. If the Badgers make the Big Ten Championship game and you wait until then, you aren’t going to get the same odds in a one-game scenario.