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Sports Betting Tutorial - Types of Bets



Straight Bets

The team wagered on must win by the point spread given at the time of the wager. For straight wagers, unless otherwise indicated, the odds are -110. Games that tie are considered "no action" and money is re-deposited back into your account. Due to changing events, the point spread may fluctuate at any time.

Example: Player wagers $110.00 on Miami -7 to beat Buffalo +7

If Miami wins by more than 7 points the player wins $100.00. The total payout including the initial wager would be $210.00. If Miami only wins by 7 points then the game is considered "no action" and all money is returned to the bettor. If the Miami wins by less than 7 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/Buffalo 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.

Money Line Bets

The team wagered on just has to win the game. The amount you lay or take for each game may vary. The money line that is read to at the time of your wager is the money line you keep regardless of any line movement.

Example: The player wagers on Miami -160 at Buffalo +260. If Miami wins then the player would lay $160.00 to win $100.00. If the player bet on Buffalo then the player would lay $100.00 to win $260.00.

Halftime

The wager is placed on the odds posted for the first or second half of a game only. All wagers must go the full 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.

Parlays

This is a selection of 2 or more teams (up to 10 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:

Miami -7
New York +3
Seattle -4
Denver -10
San Francisco -8

If all these games win then the player would have won at 20-1 odds. If only 1 team loses then the entire parlay loses.

 
All teams in the parlay must win, if there is a tie it reverts to the next lowest number for payoff. (Example: If you select 4 teams and one ties, it becomes a three team parlay). Tie and win on a two team parlay becomes straight bet (-110).
          PARLAYS ODDS & PAYOFFS
          Team Odds
          2 13/5
          3 6/1
          4 10/1
          5 20/1
          6 40/1
          7 75/1
          8 150/1
          9 300/1
          10 100/1


Teasers

 
A Teaser is a selection of two or more teams in one wager in which the point spread is adjusted in your favor. The number of teams selected and the number of points selected determines the payout odds. A "Tie" or "No Action" and a "Win" on a two team teaser shall constitute a "No Action" wager. A "Tie" or a "No Action" and a "Loss" on a two team teaser shall constitute a "Losing" wager. Ties on a three or more team teaser shall revert to the next lowest betting bracket. (Example: A tie on a three team becomes a two team teaser.)

An example of a teaser wagers is as follows. For our example, let us say you wish to choose three football teams: Denver -7, New York -3 and Chicago +15. The payout of the wager is dependant upon how many points you wish to receive. Let us choose a 3 team 7 point teaser. If we look at the chart below, this wager is listed as 12/10, which means we will win $12 for every $10 that we wager. The point spreads are adjusted as follows

  • Denver -7 plus the adjusted seven points = Even
  • New York -3 plus the adjusted seven points = +4
  • Chicago +15 plus the adjusted seven points = +22
Therefore, if each and every one of the three teams wins against the adjusted spread, you win $12 for every $10 you wager.

Teaser Payoffs/Odds for Basketball and Football

 
Football- Points  6  6.5  7
Basketball - Points  4  4.5  5
 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
9 teams  200/10  150/10  120/10
10 teams  250/10  200/10  150/10
11 teams  350/10  250/10  200/10

3 Team 10 point Football and 7 Point Basketball Teasers Odds are 10/12 --Ties Lose
  


Futures and Propositions

Future wagers are based on the outcome of events. All wagers are final. There will be no payouts until the conclusion of the specified event. Odds change daily and all wagers are considered action at the odds quoted at the time of the wager.