Straight bet or Single. This is the simplest and most common bet. You bet on a winner at given odds. The team wagered on must win by the point spread (Point Spread is the number of points allocated and is shown with a – sign for the favorite and a + sign for the underdog) given at the time of the wager. For straight bets, unless otherwise indicated, the odds are $1.10 to win $1.00. Games that tie are considered “no action” and money is deposited back into your account. The point spread may fluctuate at any time.
Example
Player wagers $110.00 on Miami -8 to beat Jacksonville +7
If Miami wins by more than 8 points the player wins $100.00 so the total payout including the initial wager would be $210.00. If Miami only wins by 8 points then the game is considered “no action” and all money is returned to the bettor. If the Miami wins by less than 8 points the wagers is lost.
Totals: The combined score of both teams for games wagered on, all totals lay $1.10 to win $1.00 unless it is otherwise indicated.
Example
The player lays $220.00 on the OVER in the Miami/Jacksonville game. The total for the game is 45. If both teams’ combined score is more than 45 than the player would win $200.00. If the combined score is equal 45 the game is considered “no action” and the money is returned. If the combined score is less than 45 then the wager is lost.
Halftime: The wager is placed on the odds posted for the second half of a game only. All wagers must go the full second half for action. All halftime wagers are calculated the same as a straight wager unless otherwise indicated. There are no teaser plays or buying of points on halftimes.
Buy Points. Also to buy Key Points. Move the Point Spread favorably at a price.
The Moneyline. This establishes the odds for each team but inversely proportional to what would have been a Point Spread, and is indicated by a + for the underdog and a – sign for the favorite.
Example:
Chicago Cubs +120
Los Angeles Dodgers -130
In this instance, the Dodgers are the favored team, as signified by the – (minus) written in front of the 130, while the Cubs are the underdogs, as designated by the + (plus) in front of the 120.
What these numbers mean is that those wishing to bet on the favorite, the Dodgers, will have to risk $130 to win $100, while those wanting to wager on the underdog, the Cubs, will risk $100 to win $120.
Over/Under. A bet that the combined number of points scored by the two teams in the game will be Over or Under the total set by the oddsmaker.
Example:
Baltimore Ravens vs Pittsburgh Steelers
Over 37.5 (-110)
Under 37.5 (-110)
The number next to the Over and Under is always going to be the same, and represents the set game total. In this case the game total was set by the oddsmakers at 37.5. You would then have the choice to place your bet on both teams scoring more than 37.5 combined points (the Over) or less than 37.5 combined points (the Under). The (-110) beside each choice represents the betting odds, which I will explain more below.
If the final score ended up being Pittsburgh 21 Baltimore 14 we would have a total combined score of 35 points, and therefore the “under” bet would win.
Parlays: This is a selection of 2 or more teams (up to 5 teams) or propositions in no particular order. All teams wagered on in a parlay must win. If there is a tie, it reverts down to the next lowest number for payoff.
Example
Player wants to make a 5 team parlay:
Kansas City-6 Arizona +4 San Francisco -3 Denver -9 Seattle -7
If all these games win then the player would have won at 20-1 odds. Just by 1 team losing then the entire parlay loses.
Parlay Payout’s
02 Teams 13/5
03 Teams 6/1
04 Teams 10/1
05 Teams 20/1
06 Teams 40/1
07 Teams 75/1
08 Teams 150/1
09 Teams 300/1
10 Teams 700/1
Round Robin Bet: is an easy way of betting multiple parlays all at one time. How they work is you select between 3 and 8 teams that you’d like to involve in the bet. You then choose to do parlays of 2 to 6 teams. The round robin is an excellent way to minimize the risk of combining several teams in one parlay, while still taking advantage of the higher payoffs offered by parlays.
Teaser. It is like a parlay, but with the option to add or subtract points (called ‘moving the line’) from one or more Spread bets. When betting a teaser additional points are either added to the underdog or subtracted from the favorite. The odds vary according to the number of points the spread is moved and the number of teams combined to form the teaser. As in the parlay, all selections must win for the teaser to win.
Example
Teaser Payoffs/Odds for Football
Football- points 6 6.5 7
2 teams 10/11 10/12 10/13
3 teams 16/10 14/10 12/10
4 teams 25/10 20/10 18/10
5 teams 40/10 35/10 30/10
6 teams 60/10 50/10 40/10
7 teams 90/10 80/10 70/10
8 teams 140/10 120/10 100/10
3 Team 10 point Football – 10/12
* All ties lose in a 3 team 10 point football teaser
Open Wager. Open wagers allow the bettor to play teasers or parlays making a selection at different times and even different days.
If-wager. If bet s are types of wagers that allow the selection of two picks (sides or totals) which are considered two straight bets based on conditions. The first bet has to win in order to have action on the second bet. An if bet allows the option to use potential winnings from the first wager on the second bet.
Example:
Player placed an if bet on the Sunday night football game and needed the Vikings to win in the afternoon.
Future. A bet on a future event. At the start of each season, the sportsbooks give out odds for teams to win a certain championship. The odds change as the game date approaches and in most cases get shorter, but if you win you get paid at the original odds that you took. This is possibly one of the most profitable bets if you have considerable knowledge of the sport that you are betting on including the players, and a good sense of judgement.
Exotic Bets. Betting on unusual events. Some sportsbooks post odds and take bets on a wide variety of other sports related events and activities. A few others will take bets on just about anything you can think of.
Proposition Bet or Prop Bet. An offer of bets at odds and conditions chosen by the sportsbook, usually on ‘Exotic’ bets.
Reverse Wagers: Reverses revert to individual If Bets. You can include up to 8 teams in a Reverse. The payoffs vary depending on the number of teams wagered on. A 2-Team Reverse pays 4/1, a 3-Team Reverse pays 12/1 (if the wager is $100). Standard reverse bets are Double Action; therefore in the event of a tie the bet is still active.
Example:
Two-team reverse bet on teams A and B would imply two if-bets: if A then B and if B then A.
Three-team reverse bet on teams A, B, and C would imply six if-bets: if A then B; if B then A; if A then C; if C then A; if B then C; and if C then B.