Bears waive OL Pace

Football Betting Lines

03/01/2010 - Lake Forest, IL (Sportsbook Betting Lines) - The Chicago Bears waived offensive tackle Orlando Pace, tight end Fontel Mines, and guard Tyler Reed on Monday.

Pace, a veteran of 13 NFL seasons, started in 11 games at left tackle for Chicago last year. The seven-time Pro Bowl selection out of Ohio State had two years left on a three-year deal he signed before the 2009 season.

The 34-year-old Pace blocked for three straight NFL MVPs (quarterback Kurt Warner in 1999 and 2001 and running back Marshall Faulk in 2000). Pace also helped lead the Rams to a Super Bowl XXXIV title.

The first overall pick of the 1997 NFL draft, Pace has started in 165 of 169 career games played with the Rams and Bears. The 6-foot-7, 325-pounder spent 12 years in St. Louis.

Mines and Reed have never appeared in a regular season contest, spending a majority of their NFL careers in Chicago on the Bears practice squad.

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SPORTS BETTING

NFL Football Betting Online

In terms of sports wagering, the NFL is "the most popular game in town." The explanation behind that is easy.

It is called the "pointspread."

Many years ago, NFL games, as well as the more popular college games, used straight odds as a vehicle for betting. For example, if the Bears were playing the Giants, and it shaped up as a competitive contest, the Bears might be, say, a 7/5 favorite. If they were playing an also-ran, it might be 10/1. Well, there is a point where a line becomes prohibitive, as far as betting the favorite. And who would waste money betting an underdog that has virtually no chance? Such a setup did not contribute to promoting betting action.

But in modern sports betting, a "pointspread" is used.

A NFL pointspreads are exactly that, a pre-established point difference between the two sides that will, for all intents and purposes, create a handicap that evens things out, and in doing so, produces comparable wagering activity on both sides of that proposition. So in lieu of a odds figure in which to bet the team to win outright, the Bears might be a three-point favorite over the New York Giants, and a 17-point favorite over the also-ran. Now that the team that is the underdog can "get" points, there can be equal action on both sides.

In sportsbooks, this is usually done with efficiency by charging the losing bettors 10% extra - in effect, bettors are laying 11/10 on those games. So they are actually betting $110 to win $100. If they lose, they pay the "vig." If they win, they simply collect.

The establishment of the pointspread as the corner stone around which team sports like football can be wagered upon was truly what brought gridiron betting into the stratosphere for online football betting .

Don't believe it? Just take a look at what happens around the Super Bowl.

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