Straight
The most common type of sports wager is on the final score of a single game, known as a straight wager. One team is typically favored over another by a pointspread; the favorite gives the underdog points as a head start, for betting purposes. The favorite is always indicated by a minus sign (-3) and the underdog by a plus sign (+3). The amount of points a customer must give or take is estimated to be the amount, which will generate equal wagering on both the underdog and the favorite. For betting purposes, the result of the game is determined by taking the actual score and subtracting points from the favorite's score or adding points to the underdog's score. So, a favorite can win the game but lose by not covering the spread and an underdog can lose the game but win it for betting purposes by covering the spread.
Totals
A customer can also bet whether the combined number of points or goals scored by the two teams in the game will be over or under the total set by the oddsmaker. For example, if the total is 42 and you believe that the combined points scored by the two teams will exceed that number, you would bet over. You would bet under if you believe the total points score will be less than 42.
Money Line
A money line is used in addition to or instead of a pointspread on a match up between two teams. If a money line, like Major League Baseball, determines a match up then it will cost the customer more to wager on the favorite. For example, the New York Yankees are a -150 favorite over the Colorado Rockies. In this example, the customer must lay $150 in order to win $100. If New York loses, the customer loses $150. However, the customer could bet on Colorado, in which case the customer would lay $100 in order to win $140 (10 cent line). If Colorado loses, the customer only loses $100, and if Colorado wins, the customer would win $140. Most sportsbooks offer both moneyline and pointspread options on most sports.
Exotic Sports Wagers
Parlay
A parlay is a bet on 2 or more teams or selections. The customer can combine different sports, pointspreads and money lines. In a parlay your original stake and winnings are re-invested on the next game and all selections must be correct - one loss and your parlay loses. In the event of a push (tie), game cancellation or a pitcher that you have specified not starting, the parlay reduces to the next lower number, e.g. a 4-team parlay becomes 3-teams. A winning parlay wager will pay many times more than the initial wager.
2 teams 13 / 5
3 teams 6 / 1
4 teams 10 / 1
5 teams 20 / 1
6 teams 40 / 1
7 teams 80 / 1
8 teams 100 / 1
Teasers
A Teaser is a bet on 2 or more teams or selections. The difference between a teaser and a parlay is that in a teaser YOU ADJUST (tease) THE LINE IN YOUR FAVOR. For example if New England Patriots are favored by 7 points in one game and the Buffalo Bills are favored by 10 points in a second game. A 6 point two team teaser would adjust the pointspread 6 points in the customers favor; i.e. New England would now be favored by 1 point (7- 6=1) and Buffalo would now be favored by 4 points (10-6=4). You could make a 2 Team, 6 point teaser bet with Buffalo and New England. In this example are betting that Buffalo will win by more than 4 points (10-6=4) and New England will win by more than 1 point (7-6=1). In a case of a tie or push in a two team teaser, your wager is refunded. ANY LOSS IN A TEASER CONSTITUTES A LOSS FOR THE ENTIRE WAGER. A tie, or push in a three to seven team teaser will reduce the wager to the next lowest level. i.e. a 6 team teaser with a push becomes a 5 team teaser.
IN 3 TEAM 10 Pt. Football Teasers, or 3 Team 8 Pt. Basketball Teasers, TIES LOSE
IN 4 TEAM 13 point Football Teasers, or 4 Team 10 Pt. Basketball Teasers, TIES LOSE
FOOTBALL |
6 Points |
6½ Points |
7 Points |
2 Team Teaser |
10 to 11 |
10 to 12 |
10 to 13 |
3 Team Teaser |
9 to 5 |
8 to 5 |
3 to 2 |
4 Team Teaser |
3 to 1 |
5 to 2 |
2 to 1 |
5 Team Teaser |
9 to 2 |
4 to 1 |
7 to 2 |
6 Team Teaser |
7 to 1 |
6 to 1 |
5 to 1 |
7 Team Teaser |
8 to 1 |
7 to 1 |
6 to 1 |
8 Team Teaser |
9 to 1 |
8 to 1 |
7 to 1 |
9 Team Teaser |
12 to 1 |
10 to 1 |
9 to 1 |
10 Team Teaser |
15 to 1 |
13 to 1 |
11 to 1 |
BASKETBALL |
4 Points |
4½ Points |
5 Points |
2 Team Teaser |
10 to 11 |
10 to 12 |
10 to 13 |
3 Team Teaser |
9 to 5 |
8 to 5 |
3 to 2 |
4 Team Teaser |
3 to 1 |
5 to 2 |
2 to 1 |
5 Team Teaser |
9 to 2 |
4 to 1 |
7 to 2 |
6 Team Teaser |
7 to 1 |
6 to 1 |
5 to 1 |
7 Team Teaser |
8 to 1 |
7 to 1 |
6 to 1 |
8 Team Teaser |
9 to 1 |
8 to 1 |
7 to 1 |
9 Team Teaser |
12 to 1 |
10 to 1 |
9 to 1 |
10 Team Teaser |
15 to 1 |
13 to 1 |
11 to 1 |
| 3 TEAM SWEETHEART |
|
| 10 PTS FOOTBALL / 7 PTS BASKETBALL |
10 to 13 |
| * Tie Lose |
|
| 4 TEAM SWEETHEART |
|
| 13 PTS FOOTBALL / 10 PTS BASKETBALL |
10 to 13 |
| * Tie Lose |
|
Future
A future bet is a wager on an event or outcome that will be determined sometime in the future. For Example, it might be a bet made at the start of the season on Denver Broncos to win the Super Bowl. Futures odds change continuously throughout the season - YOU GET THE ODDS IN EFFECT AT THE TIME YOU BET. Futures bets often attract (high) odds to the bettor.
If - Win (Single Action)
An If-Win Only wager is also an excellent choice for money management. You wager a fixed amount on one team if that team wins the game only, then another fixed amount, up to the original amount shall be placed on your next team. Your first wager must win in order for you to have action on the remaining wagers. If the first wager loses, there is No Action thereafter. You cannot have duplicate teams in the same If Win wager.
Example 1 |
Example 2 |
Example 3 |
Rams -7 Win |
Win Rams -7 |
Rams -7 Lose |
if win |
if win |
if win |
Dolphins -3 Win |
Dolphins -3 Lose |
Dolphins -3 Win |
Stake $110.00 |
Stake $110.00 |
Stake $110.00 |
Win $200.00 |
Lose $10.00 |
Lose $110.00 |
If - Win-Tie-Cancel (Double Action)
An If-Bet wager is an excellent choice for money management. You wager a fixed amount on one team, and if that team wins, ties, or is cancelled, then another fixed amount, up to the original amount shall be placed on your next team. Your first wager must win, tie, or be cancelled in order for you to have action on the remaining wagers. If the first wager loses, there is No Action thereafter. You cannot have duplicate teams in the same If Win-Tie-Cancel wager.
Example 1 |
Example 2 |
Example 3 |
Cowboys -7 Win |
Padres -150 Cancelled |
Cowboys -7 Tie |
if win-tie-cancel |
if win-tie-cancel |
if win-tie-cancel |
Broncos -3 Win |
Broncos -3 Lose |
Broncos -3 Win |
Stake $110.00 |
Stake $110.00 |
Stake $110.00 |
Win $200.00 |
Lose $110.00 |
Win $100.00 |
NOTE: ALL IF-BETS ARE IF WIN (SINGLE ACTION) UNLESS SPECIFIED AS IF WIN-TIE-CANCEL (DOUBLE ACTION).
Reverses
A Reverse wager is the same as two "if win or Tie" Bets. If wager A wins, the bet goes to wager B. If B wins, the bet goes to wager A. If wager A loses, the bet does not go to wager B. If wager B loses, the bet does not go to wager A. If wager A wins, the bet goes to wager B and if wager B loses, the bet does not go to wager A. Standard reverse bets are Double Action; therefore in the event of a tie the bet is still active. If a player does not want action on a tie or cancel he must ask for a "reverse win" bet. Examples:
Example 1 |
Example 2 |
Example 3 |
Example 4 |
Example 5 |
Bills -7 Win |
Bills -7 Win |
Bills -7 Win |
Bills -7 Lose |
Bills -7 Tie |
if win |
if win |
if win |
if win |
if win |
Rams +2 Win |
Rams +2 Lose |
Rams +2 Tie |
Rams +2 Lose |
Rams +2 Lose |
Stake $220.00 |
Stake $220.00 |
Stake $220.00 |
Stake $220.00 |
Stake $220.00 |
Win $400.00 |
Lose $120.00 |
Win $200.00 |
Lose $220.00 |
Lose $220.00 |
Combination Baseball Payoffs
Decimal Conversion Chart
Because of the moneyline used in baseball, there are no set payoffs for tying a number of teams together in parlays.Payoffs are determined by a simple formula that changes the money line into a decimal number and combines it with the other lines in the parlay.
The first step is to change the money line into its decimal value.
Use this chart for this purpose.
-1.05 = .95 -1.85 = .54
-1.10 = .91 -1.90 = .53
-1.15 = .87 -1.95 = .51
-1.20 = .83 -2.00 = .50
-125 = .80 -2.10 = .48
-1.30 = .77 -2.20 = .45
-1.35 = .74 -2.30 = .43
-1.40 = .71 -2.40 = .42
-1.45 = .69 -2.50 = .40
-1.50 = .66 -2.60 = .38
-1.55 = .64 -2.70 = .37
-1.60 = .62 -2.80 = .36
-1.65 = .61 -3.00 = .33
-1.70 = .59 -3.25 = .31
-1.75 = .57 -3.50 = .29
-1.80 = .55 -
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