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BETTING BASICS

 

Gearing up for your first sports bet?  This information will help you understand the types of wagers available, the sports on which you can bet, and some of the common terms sports bettors use.

 

HOW TO READ YOUR TICKET

 

Your bet cannot be changed once you leave the ticket window, so be sure to check that your ticket is correct before you step away from the ticket writer. With your ticket in hand, you can now find a comfortable spot to watch the games.

 

EXAMPLES OF PAYOUT FOR A $100 BET

 

* All win amounts are rounded to the nearest nickle.

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TYPES OF BETS

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There are a number of different ways to place a wager on a game or event.

 

POINT SPREAD

 

Most games will have a favorite and an underdog. The point spread – or handicap – is what oddsmakers think the margin of victory is likely to be. If you bet on the favorite you will subtract the points (-2.5 for this example) from that team's final score. Conversely, if you bet on the underdog you would add these points (+2.5) to that team's final score. 

If Brooklyn is the favored team over Washington by 2.5 points and you bet Brooklyn, you're betting that they will win by 3 or more (covering the 2.5 points). Alternatively, if you bet Washington plus the points, your bet can win if they win, tie or lose the game by less than 2.5 points.

How do bookmakers calculate points spread?
Bookmakers use several different methods when calculating a point spread. The goal is to find a line that accurately reflects the competitive difference between two teams, and factors include recent performance, injuries, weather, and player or coaching matchups. These factors will all be taken into consideration to ultimately determine how the spread of a particular game or event should be priced.

 

MONEYLINE

 

There are no point spreads to consider but that doesn’t mean there isn’t a favorite and underdog. When betting the moneyline, your potential bet payout will change depending on which team is favored. The payout is presented in relation to a $100 wager. The original stake is returned along with the winnings for any bet placed that is a winner.  A (+) represents how much more than $100 the bet pays. Reversely a (-) represents how much you must bet to win $100. 

If Brooklyn is seen as the stronger team (-143) and you bet $100 on them, you will win $70. Adversely, if you bet $100 on Washington, the underdog at (+120), you will win $120 from the same $100 bet.

There are no point spreads to consider but that doesn’t mean there isn’t a favorite and underdog. When betting the moneyline, your potential bet payout will change depending on which team is favored. The payout is presented in relation to a $100 wager. The original stake is returned along with the winnings for any bet placed that is a winner. A (+) represents how much more than $100 the bet pays. Reversely a (-) represents how much you must bet to win $100.

If Brooklyn is seen as the stronger team (-143) and you bet $100 on them, you will win $70. Adversely, if you bet $100 on Washington, the underdog at (+120), you will win $120 from the same $100 bet.

 

TOTALS (OVER/UNDER)

 

The points total allows you to bet without picking a side in the matchup. Instead, you are simply betting on how many points will be scored. Also known as "Over/Under," this bet is a wager on the combined points scored by both teams in a game.
 

In the Brooklyn vs Washington game, the Over/Under is 233.5 points. If you bet the over, you're betting the total points scored in the game will be 234 or higher. If you bet the under, you're betting the total points will be 233 or lower.

The points total allows you to bet without picking a side in the matchup. Instead, you are simply betting on how many points will be scored. Also known as "Over/Under," this bet is a wager on the combined points scored by both teams in a game.

In the Brooklyn vs Washington game, the Over/Under is 233.5 points. If you bet the over, you're betting the total points scored in the game will be 234 or higher. If you bet the under, you're betting the total points will be 233 or lower.

 

PARLAY BETS

 

A parlay is multiple wagers in one bet. Because the odds are higher, the payout is also higher. But if any of your wagers is incorrect, the entire bet is lost, unless otherwise stated.

You can combine or "parlay" the Nets -2.5 and the Knicks -1.5 into one single bet. If the first bet wins, your bet is rolled into the next game. If the next bet wins as well, the payout will be higher than if you had bet each game separately. But if either bet loses, the entire bet is lost.

How are parlay bet odds calculated?
The reason parlay bets pay you out much more money for correctly picking multiple individual bets has to do with how the odds are calculated. Parlay odds are calculated by multiplying each line’s odds sequentially.

 

The more lines you add, the more the multiplier grows, offering longer odds and greater payouts.

To help you understand the difference in payouts, we will compare betting three individual matchups at -110 odds versus combining them into a three-line parlay: If you won all three individual bets of $100 at -110, the total profit would be $272.73. However, if you played all three games as a parlay wager, the profit on a single bet of $300 would be $1,787.40!

Parlays are for people who like big payouts and aren’t worried about longer odds of winning.

 

PROP BETS

 

“Prop” bet is short for proposition bet. This is a wager on a result that will occur in-game, and often has nothing to do with the game’s final outcome. Prop bets can involve a team’s or individual’s performance.

This football game prop is on the combined number of touchdowns scored by both teams. You can bet over or under 6½.