Sportsbook Bet Types
The information below is solely for informative purposes and based on the standard definitions for sportsbook wagering.
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 point spread; 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 you 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 actual game but lose the bet by not covering the spread; an underdog can lose the actual game, but win for betting purposes by covering the spread.
Totals
You 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 point spread on a matchup between two teams. In this case, you must bet more to wager on the favorite. For example, the New York Yankees are a -150 favorite over the Colorado Rockies. You must "lay" $150 in order to win $100. If New York loses, you lose $150. However, you could bet on Colorado , in which case you would lay $100 in order to win $140 (10 cent line). If Colorado loses, you only lose $100, and if Colorado wins, you would win $140.
Parlay
A parlay is a bet on two or more teams or selections. You can combine different sports, point spreads 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 four-team parlay becomes a three-team parlay. A winning parlay wager will pay many times more than the initial wager.
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NOTES: In the event that a three-or-more-team parlay results in a tie, it will reduce the wager to the next lowest payoff. For example, a four-team parlay will become a three-team parlay, and a three-team parlay will become a two-team parlay. For wagering purposes, two-team parlays where there is a tie will be paid off as a straight wager.
The chart below has details on open spots allowed in standard parlays:
| # of Open Spots Allowed in a Parlay | |
| # of Teams | # Open |
| 2T | 0 |
| 3T | 1 |
| 4T - 5T | 2 |
| 6T - 7T | 3 |
| 8T - 9T | 4 |
| 10T - 11T | 5 |
| 12T - 13T | 6 |
| 14T - 15T | 7 |
| 16T - 17T | 8 |
| 18T - 19T | 9 |
| 20T - 25T | 10 |
In a parlay, you may not play both sides of the same game. If you play both sides of the same game, any winning wagers on the game will be canceled.
For example:
Denver Broncos 32 1/2
New England Patriots -3
If you play the New England Patriots in a parlay, you aren’t allowed to play the Denver Broncos in another parlay, likewise if you play over 32 1/2 in one parlay, you aren’t allowed to play under 32 1/2 in another parlay.
Combination Baseball Payoffs
Decimal Conversion Chart
Because of the money line 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 the following chart for this purpose.
| -105 = .95 | -145 = .69 | -185 = .54 | -250 = .40 |
| -110 = .91 | -150 = .66 | -190 = .53 | -260 = .38 |
| -115 = .87 | -155 = .64 | -195 = .51 | -270 = .37 |
| -120 = .83 | -160 = .62 | -200 = .50 | -280 = .36 |
| -125 = .80 | -165 = .61 | -210 = .48 | -300 = .33 |
| -130 = .77 | -170 = .59 | -220 = .45 | -325 = .31 |
| -135 = .74 | -175 = .57 | -230 = .43 | -350 = .29 |
| -140 = .71 | -180 = .55 | -240 = .42 |
Calculating Baseball Parlays
For each PRICE or ODDS quote on your teams, look at their respective PAYOFFS above (to $1) and always add $1 to these payoffs.
Multiply your BET by the products of these payoffs (+$1) for your parlay return.
Example 1:
Bet $50 on Astros (-150) parlayed to Braves (+130)
| BET | X | Astros | X | Braves | = | RETURN |
| (-150) | (+130) | |||||
| $50 | X | 1.66 | X | 2.30 | = | $191 |
| Return includes Wager amount. $191-$50= $141 profit | ||||||
Teasers
A Teaser is a bet on two 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 seven points in one game and the Buffalo Bills are favored by 10 points in a second game. A six-point, two-team teaser would adjust the point spread six points in your favor; i.e. New England would now be favored by one point (7 - 6 = 1) and Buffalo would now be favored by four points (10 - 6 = 4).
You could make a two-team, six-point teaser bet with Buffalo and New England. In this example are betting that Buffalo will win by more than four points (10 - 6 = 4) and New England will win by more than one point ( 7 - 6 = 1). In the 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 six-team teaser with a push becomes a five-team teaser.
Special Teasers
Betting players may come across the opportunity to enjoy enormous football teasers, where the lines may be moved to their advantage by either 10 or 13 points. The handicapping decisions that you make may now have a comfortable margin of error.
21-POINT TEASERS
| Football 21pt Teasers | |
| 3 Teams | 10 to 150 |
| 4 Teams | 10 to 75 |
| 5 Teams | 10 to 50 |
| 6 Teams | 10 to 35 |
| 7 Teams | 10 to 30 |
| 8 Teams | 10 to 25 |
| 9 Teams | 10 to 20 |
| 10 Teams | 10 to 17 |
NOTES:
In standard 21-point Super Teasers, ties result in a loss.
No totals are allowed in 21-point Super Teasers.
No open spots are allowed in 21-point Super Teasers.
In our 21-point Super Teasers, you may not tease both sides of a line. For example, if Team A is -23.5 vs. Team B, you may not tease Team A to -2. and Team B to +44.5 within the same teaser.
NOTES: In the event that a three-or-more-team pleasers results in a tie, it would reduce the wager to the next lowest payoff. For example, a four-team pleaser would become a three-team pleaser, and a three-team pleaser would become a two-team pleaser. For wagering purposes, two-team pleasers where there is a tie-win or tie-tie would result in no action, while a tie-loss will result in a loss.
The chart below has details on open slots allowed in standard Pleasers:
| # of Open Spots Allowed in a Pleaser | |
| # of Teams | # Open |
| 2T - 3T | 0 |
| 4T - 6T | 2 |
*Pleasers are for NFL only.
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 the Denver Broncos to win the Super Bowl. Future odds change continuously throughout the season - YOU GET THE ODDS IN EFFECT AT THE TIME YOU BET. Future bets often have high odds.
If - Win (Single Action)
An If-Win Only wager is 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 Tie Cancel.
| Example 1 | Example 2 | Example 3 |
|
Rams -7 Win If Win Dolphins -3 Win |
Rams -7 Win If Win Dolphins -3 Lose |
Rams -7 Lose If Win 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 also 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 If Win-Tie-Cancel Broncos -3 Win |
Cowboys -7 Win If Win-Tie-Cancel Broncos -3 Lose |
Cowboys -7 Lose If Win-Tie-Cancel Broncos -3 Win |
| Stake $110.00 | Stake $110.00 | Stake $110.00 |
| Win $200.00 | Lose $10.00 | Lose $110.00 |
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" 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.
| Example 1 | Example 2 | Example 3 |
|
Bills -7 Win If Win Dolphins -3 Win |
Bills -7 Win If Win Dolphins -3 Lose |
Bills -7 Lose If Win Dolphins -3 Lose |
| Stake $220.00 | Stake $220.00 | Stake $220.00 |
| Win $400.00 | Lose $120.00 | Lose $220.00 |
Buying Points
You can move a point spread up to two points in your favor. You would pay an extra 10% for each half-point that the line is moved. Points cannot be bought on money lines or half time point spreads.
| # of Points You're Allowed to Buy | ||
| 1/2 Points | You Lay | 6 to 5 |
| 1 Points | You Lay | 13 to 10 |
| 1 1/2 Points | You Lay | 7 to 5 |
| 2 Points | You Lay | 3 to 2 |
Please note:
For NCAA Football, price is -115 for buying OFF 3 only.
For NFL, price is -125 for buying ON or OFF 3.
Low Juice customers please note:
For NFL, -125 to buy ON or OFF 3. -115 to buy ON or OFF 7.
For NCAA Football -115 for buying ON or OFF 3, and ON or OFF 7.
