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Types of Sports Bets

Basic Types of Sports Bets (A guide of basic types of sports bets available)

Straight Bets
A wager on one event whose outcome for wagering purposes shall be determined by a point spread or money odds.

Example: Player wagers $110.00 on Minnesota -7 to beat New Orleans+7

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

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.

No teaser plays or buying of points on halftimes bets

Money Lines
Odds expressed in terms of money. If a baseball game is said to be "Mets -140 versus Red Sox +130." Mets betors must lay $130 to win $100 and the backers of the underdog Red Sox will win $130 for every $100 bet.

Player lays 11 to 10 on single straight bets. If the wager wins, the return is $21.00. Ties are a push.

Parlays
Two or more teams or propositions can be tied together to make one wager. All teams must win by the listed point spread.

PARLAY      PAY-OFFS

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
9 TEAMS       200/1
10 TEAMS     350/1

Teasers
A type of wager in which additional points are either added to the underdog or subtracted from the favorite.

6 PT. TEASER        61/2 TEASER              7 PT. TEASER
2 TEAMS 5-6          2 TEAMS 10-13          2 TEAMS 5-7
3 TEAMS 7-5          3 TEAMS 6-5               3 TEAM EVEN
4 TEAMS 5-2          4 TEAMS 2-1               4 TEAMS 9-5
5 TEAMS 9-2          5 TEAMS 4-1               5 TEAMS 7-2
6 TEAMS 7-1           6 TEAMS 6-1              6 TEAMS 5-1

Ties with one winner or loser on a 2 team teaser constitutes "no action" and the money will be refunded.

Teaser 3 or more team , a tie reduces the teaser to the next lowest betting bracket, and the tie is treated as "no action".

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 Minnesota/New Orleans game. The total for the game is 40. If both teams' combined score is more than 40 than the player would win $200.00. If the combined score is equal 40 the game is considered "no action" and the money is returned. If the combined score is less than 45 then the wager is lost.Totals, which are an over under on the combined scores of both teams, work on the same 11 to 10 as a straight bet.

Futures Bets and Propositions
Futures Bets - A wager accepted well in advance (usually months) on an event. Future wagers and Propositions are based on the outcome of specified events. Odds change daily, but odds at the time of the wager are action and final.


Sports Betting Terms & Definitions
Sports gambling Terms and definition specifically to the sports gambling industry.

 

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