A pick’em (often shortened to just “pick” and denoted as “PK”) is a game in which neither team is favored. In other words, there is no point spread (the spread is zero) and/or the moneyline for each side is the same, so the bettor simply must choose which team will win the game in order to win his/her bet.
A pick’em can happen on any type of bet, such as point spread bets, totals bets, moneyline bets, futures bets, props bets, etc. A pick’em can also happen on any sport or event, such as football, basketball, baseball, soccer, tennis, golf, etc.
A pick’em can be expressed in different formats, depending on the region or the sport. The most common formats are:
Decimal odds: This format shows how much money you will receive for every $1 wagered, including the original stake. For example, if Team A has decimal odds of 1.95 to win, it means that you will receive $1.95 for every $1 wagered, if Team A wins.
Fractional odds: This format shows how much profit you will receive for every $1 wagered, excluding the original stake. For example, if Team A has fractional odds of 19/20 to win, it means that you will receive $0.95 profit for every $1 wagered, if Team A wins.
American odds: This format shows how much money you will have to wager to win $100, or how much money you will receive for wagering $100, depending on whether the odds are positive or negative. For example, if Team A has American odds of -105 to win, it means that you will have to wager $105 to win $100, if Team A wins.
How Does a Pick’em Work?
A pick’em works by giving equal chances to both teams to win the game. The bettor does not have to worry about covering or beating a point spread or a total. The bettor only has to pick the winner of the game.
A pick’em usually has juice or vig attached to it, which means that the bettor has to pay a fee or commission to the bookmaker or the betting platform for placing the bet. The juice or vig is usually -110 ($11 wins $10) on both sides of a pick’em bet.
The possible outcomes of a pick’em bet are as follows (assuming -110 juice on all bets):
The bettor picks Team A and Team A wins: The bettor wins $10 profit and gets back his/her original stake of $11.
The bettor picks Team B and Team B wins: The bettor wins $10 profit and gets back his/her original stake of $11.
The bettor picks Team A and Team B wins: The bettor loses his/her original stake of $11.
The bettor picks Team B and Team A wins: The bettor loses his/her original stake of $11.
The game ends in a tie: The bettor gets back his/her original stake of $11.
What are the Benefits and Drawbacks of a Pick’em?
A pick’em has some benefits and drawbacks that you should consider before using it as a betting strategy. Here are some of them:
Benefits:
You can simplify your betting process and decision making. A pick’em eliminates the need to worry about point spreads or totals. You only have to focus on picking the winner of the game.
You can have more fun and excitement. A pick’em can make watching sports more fun and exciting, as you root for your team to win without any other conditions or factors involved.
You can exploit market inefficiencies or insider information. Sometimes, a pick’em can be profitable if you have access to information or insights that are not reflected in the odds or payout. For example, you may know something about an injury, a motivation, or a strategy that gives an edge to one team over another.
Drawbacks:
You have a low chance of winning. A pick’em means that you are betting against the odds and against the majority of bettors. You have to accept that you will lose more often than you will win, and that you may go through long losing streaks.
You may lose more money than you can afford. A pick’em can be tempting and addictive, as you may chase your losses or increase your stakes to try to win back your money. However, this can lead to financial problems and emotional distress if you are not careful and disciplined with your money management.
You may fall victim to the gambler’s fallacy or the confirmation bias. A pick’em can also affect your judgment and reasoning, as you may fall prey to some cognitive biases that can impair your decision making. For example, you may believe that a team is due to win after a series of losses, or that a team is more likely to win because of some random events that confirm your beliefs.
How to Bet on a Pick’em Successfully?
Betting on a pick’em can be a successful strategy if done correctly and carefully. Here are some tips on how to bet on a pick’em successfully:
Do your research and analysis before placing your bets. Look at various sources and information that can help you evaluate and compare the teams involved, and their chances of winning. Look for factors that can give an advantage or a disadvantage to a team, such as statistics, trends, injuries, motivation, weather, etc.
Shop around and find the best odds and payout for your bets. Compare different bookmakers and betting platforms, and see which ones offer the best value or the lowest juice for your bets. You may also look for arbitrage opportunities or hedging options that can reduce your risk or increase your profit.
Be selective and disciplined with your bets. Don’t bet on every game or every pick’em. Look for spots where you have an edge or an opportunity over the bookmaker or the market. Set a budget and stick to it. Don’t bet more than you can afford to lose or chase your losses.
Review your results and learn from your experience. Keep track of your bets and evaluate your performance. Identify your strengths and weaknesses, and improve your skills. Don’t let your emotions or biases affect your judgment or reasoning.
To Sum Up
A pick’em is a game in which neither team is favored. In other words, there is no point spread (the spread is zero) and/or the moneyline for each side is the same, so the bettor simply must choose which team will win the game in order to win his/her bet.
A pick’em can be applied to any type of bet, such as point spread bets, totals bets, moneyline bets, futures bets, props bets, etc. A pick’em can also happen on any sport or event, such as football, basketball, baseball, soccer, tennis, golf, etc.
A pick’em has some benefits and drawbacks that you should consider before using it as a betting strategy. A pick’em can simplify your betting process and decision making, make watching sports more fun and exciting, and exploit market inefficiencies or insider information. However, a pick’em can also have a low chance of winning, lose more money than you can afford, and fall victim to the gambler’s fallacy or the confirmation bias.
Therefore, you need to do your research, shop for the best odds and payout, be selective and disciplined with your bets, and review your results and learn from your experience. By following these tips, you can increase your chances of betting on a pick’em successfully and profitably.