Sports Wagering and the types of bets and payouts. Know your wagers and how they work

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Sports Wagering - types of wagers - Betting

Previously in years gone by, most wagers were placed with a Bookmaker that was licenced to take fixed odds bets on racing or sport. A great deal has changed since those by gone days, and although placing a bet online for the first time could seem confusing, worry no more. Enjoy the details below, provided by our site sponsor, and for once and for all understand that world of online betting terms and jargon.

What is a Straight Wager?

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 $1.10 to win $1.00. 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 so refreshing your screen will update current odds.

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 so 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 Miami wins by less than 7 points the wagers is lost.

What is a Money Line?

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 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 +140.

If Miami wins, the player would wager $160.00 to win $100.00. If the player wagered on Buffalo, the player would wager $100.00 to win $140.00

What is a Total?

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 wagers $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, the player wins $200.00. If the combined score is equal to 45, the game is considered 'No Action' and the money is re-deposited to the player's account. If the combined score is less than 45, the wager is lost.

What is a Parlay?

This is a bet of 2 or more teams (selections) in no particular order. All teams wagered on in a parlay must win. If there is a tie or 'No Action' among the selections made, the parlay reverts down to the next lowest number for payoff. In the case of a 2-team parlay, it will revert down to a straight wager.

Example:
The 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, the player wins at 20-1 odds. If 4 of the games win and 1 of the games is considered 'No Action', the player wins at 10-1 odds. If 1 of the games loses, the entire parlay loses.

Parlay Payouts
# of Teams 2 3 4 5 6 7 8 9 10
Payout 13/5 6/1 10/1 20/1 40/1 75/1 150/1 300/1 700/1

What is a Teaser?

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 determine 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 '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).

Teaser Payoff / Odds for Football

# of Teams 2 3 4 5 6 7 8
6 points 10/11 16/10 25/10 40/10 60/10 90/10 140/10
6.5 points 10/12 14/10 20/10 35/10 50/10 80/10 120/10
7 points 10/13 12/10 18/10 30/10 40/10 70/10 100/10
3 Team Sweet Heart Teaser (10 points sides, 6 points totals) - 10/134 Team Big Teaser (12 points sides) - 10/14 All ties lose in Sweet Heart & Big Teasers.

Teaser Payoff / Odds for Basketball
# of Teams 2 3 4 5 6 7 8
4 points 10/11 16/10 25/10 40/10 60/10 90/10 140/10
4.5 points 10/12 14/10 20/10 35/10 50/10 80/10 120/10
5 points 10/13 12/10 18/10 30/10 40/10 70/10 100/10
3 Team Sweet Heart Teaser (7 points sides, 4 points totals) - 10/134 Team Big Teaser (8 points sides) - 10/14 All ties lose in Sweet Heart & Big Teasers.

What is an Action Reverse?

'IF' Wagers Described - 'IF' wagers allow the player to make a second wager pending a win on the first selection. 'IF' wagers must be made on one call, and the second part of the 'IF' wager cannot exceed the amount of the first selection.

Part A Part B
Cowboys -5 $110 to win $100 Dolphins -14 $110 to win $100
IF (win, tie or cancel) IF (win, tie, or cancel)
Dolphins -14 $110 to win $100 Cowboys -5 $110 to win $100

If both teams win +400
One win, one loss -120
Both teams lose -220
Push +200

What is a Future and Proposition?

Future wagers are based on the outcome of events that happen each year. All wagers are final. There will be no payouts until the conclusion of the specified season.

Proposition wagers are based on the outcome of events that happen each year. Odds change daily and all wagers are considered action at the odds quoted at the time of the wager.

What are Half-Time Wagers?

The wager is placed on the odds posted for the second half of a game only. All wagers must go the full half for action (first half and second half). All halftime wagers are calculated the same as a straight wager unless otherwise indicated. There are no teaser plays or buying of points on half-times. On half-time wagers, overtime periods are included as part of the 2nd half.

What are European Odds?

European odds are different from the North American style of odds. In North America, money lines are used to determine the line. In North America, a team that is +140 would be a 40 point underdog. This means that for every $100 wagered, the player would win $140. For this to be true in a European style of betting, the odds would be 2.40-- meaning that for $100 wagered, the player would win $140. The 2.40 represents the entire amount wagered and won by the player.

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