Betting Guide For Best Sports Books
Whether you’re playing for fun, or taking your chances at winning real money, professional sports betting has a wide variety of sports betting options guaranteed to provide non-stop excitement year-round. This guide should help you in understanding betting odds.
To help you get started, we’ve created this handy online “betting guide” with sports betting description, wager rules and tips that’ll help you make the best, most informed betting choices!
Note: Each Sportsbook will have it’s each set of rules and guidelines. This guide is for entertainment purposes only.
Straight Wagers
All straight bets pay 110/100 unless otherwise specified. (risk 110 to win 100)
A straight bet is a wager on one team to win or a total to go over or under, whose outcome for wagering purposes is determined by a point spread and/or money line odds. Straight bets are typically used in all sports.
Let’s discuss ‘lines’ or ‘odds’. The most common line is a money line. In football and basketball there is also a point spread line. The money line is simple: it’s the money you have to place on the favorite to win $100. The favorite is the team the odds makers think will win.
For both the money line and the point spread, the favorite is identified by a negative sign (-).For example: -155 in a money line and -5 in a point spread. So, this means that if you bet on the money line you bet $155 to win $100, and only the team you are betting on has to win.
If you bet on the point spread, you usually bet $110 to win $100, but in this case the team you are betting on has to win by one or more points than the point spread.
The team that is not favored is called the underdog, and it is identified by a plus sign (+) or no symbol at all.
In the previous example, the favorite was -155. In a standard line the comeback – or the underdog, would be +145. This is called a dime line or 10 cent line. This is the most common line used. If the difference between the lines is more than 10, it is called a wide line. In this case you have to bet $100 to win $145, and only the team you bet on has to win.
In the point spread, the favorite was -5, so the underdog would be +5. With point spreads, the number of points is always the same. You only need to change the -/+ sign. So, this means you will need to bet $110 to win $100, but your team can lose by up to 4 points and you still win. If your team loses by 5 points you push, and they now have to lose by 6 points for you to lose the game.
Here is a quick summary of straight bet rules:
If you bet on the favorite in a money line, you risk more to win less, but only the favorite needs to win.
If you bet on the underdog in a money line, you risk less to win more, but the underdog needs to win.
If you bet on the favorite in a point spread, the favorite has to win by more points than in the spread.
If you bet on the underdog in a point spread, the underdog can lose by one less point than the point spread for you to win.
BetAnySports also has a guide on understanding betting odds.
Parlays
Parlay payouts are as follows: (may vary for each sportsbook)
- 2 teams pays 13/5
- 3 teams pays 6/1
- 4 teams pays 10/1
- 5 teams pays 20/1
- 6 teams pays 40/1
- 7 teams pays 70/1
- 8 teams pays 100/1
Note: In the case of a tie or ‘No Action’, the parlay is reduced to the next lower number of teams. In the case of a 2-team parlay, it becomes a straight bet.
A parlay wager consists of picking teams or totals and combining them together into a single play, or wager, creating only one risk. Parlays then, are basically a collection of straight bets. The trick to parlays is that all your straight bets must win for you to win your bet, however the payout is much better. You can also combine multiple sports in a parlay bet.
Payout is determined by the number of teams in your parlay, but this can be changed if any team in the parlay has a money line.
If you like to risk less to win more, then parlays are for you.
For example: Let’s say you bet $100 on the Packers. You risk $110 to win $100 (the juice on a straight bet is 10%). Then you place a separate $100 bet on the Bears. Again, you risk $110 to win $100. That’s $220 to win $200. If you had bet the same $200 in a 2-team parlay you would have the chance to win $520!
Teasers (may vary by Sportsbook)
Football 6 Pts. 6½ Pts. 7 Pts.
Basketball 4 Pts. 4½ Pts. 5 Pts.
2 Teams 11/10 12/10 13/10
3 Teams 9/5 8/5 3/2
4 Teams 3/1 5/2 2/1
5 Teams 9/2 4/1 7/2
6 Teams 7/1 6/1 5/1
7 Teams 8/1 7/1 6/1
Note: In the case of ‘No Action’ or a tie on any game in a 3-team teaser or more, the teaser typically reverts down to the next lower number of teams. Any 2-team teaser with a winner and a tie, or ‘No Action’ is considered a tie. Any loss in a teaser is a loss.
Teasers are your chance to be a big time line mover. A teaser lets you move the line a set amount in your favor. This is called ‘teasing’ and is only allowed in a point spread bet – so only in football and basketball.
Example:
In a football teaser, you get 6 points on each part of your wager.
Team Line 6 points teaser New Line
Lions -7 1/2 +6 -1 1/2
Vikings +3 1/2 +6 +9 1/2
Here, the Lions only have to win the game by at least 2 points, whereas before they would’ve had to win by at least 8 points. As with parlays, both teams have to win for your teaser to win.
Now, thanks to the teaser, the Vikings can lose by 9 and you can still win. If the Lions win by 2, and the Vikings lose by 6 – you win your teaser. If the Lions win by 2, and the Vikings lose by 14 – you lose your teaser.
Teasers must be at least 2 teams, with up to 7 teams. All teams must win for you to win.
5 Dimes also has a guide on understanding betting odds.
Buying Points (may vary by Sportsbook)
Here are the rules for buying points:
1/2 point – you lay 120/100
1 point – you lay 130/100
1 1/2 points – you lay 140/100
2 points – you lay 150/100
2 1/2 points – you lay 160/100
3 points – you lay 170/100
Note: when buying on, off or through 3 in football, there is an additional 10% charge.
Special Teasers
Football
3 Teams 10 Points 6/5
4 Teams 13 Points 13/10
Basketball
3 Teams 7 Points 6/5
4 Teams 9 Points 13/10
Notes:
• Any loss in a teaser is a loss.
• Any tie or ‘No Action’ to all winners is considered ‘No Action’.
If Bets & Reverses
If Bets
They are a combination of conditional straight bets (2-6 picks) in one single play.
Single action if bet: play continues if previous play wins only.
Double action: play continues if previous play wins, pushes or cancels.
Reverses
a combination of 2-8 picks combined in all possible two team if bets and then reversed. Reverses are always double action.
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