Sports Betting Guide 101

If you want to place a wager on the outcome of a single game, then a straight bet is for you.

There are three ways to make a straight bet:

You can make a wager on the money line. For example, if the odds board favors the Yankees (-140) to win against the Red Sox (+120), you’ll need to place a $140 wager on New York for a chance to win $100 for a total of $240. If you think that Boston can pull off a win, then you could win $120 on a $100 bet for a total of $220.

Making a point spread wager means that the favored team must win by more points than the number value listed, and usually offered at 11 to 10 odds. If you wager $11, you have the chance to win $10 on the bet for a total of $21.

For example, if the odds board shows that the Patriots are favored to beat the Bills by 5.5 points, then New England must win by six points or more for someone who wagered on them to win. If you wagered on Buffalo, the Bills must beat the Patriots or lose by five points or less to win the bet.

Total or over/under bets are wagers made on the game’s point total and usually offered at 11 to 10 odds. If the sportsbook sets the points total of the Yankees/Red Sox game at 9.5, then the combined score must be 10 runs or more for the over bet to win. So if New York beats Boston with a final score of 5 to 4, the game total is nine, and the over bet loses, and the under bet wins.

The most exciting bet is a parlay because you have an opportunity to win a lot of money with a small wager by making a series of connected bets on a number of games. If all of the chosen bets win, then you get the payout. But if even one of the bets is a loss, then you lose the entire bet.

A teaser bet is similar to a parlay bet as you can bet on at least two games, but it allows you to adjust the point spread on your wager in your favor by certain designated amounts. If you change the spread, then the payout is lower, but you have a better chance of winning.

Do you think your team is going to take it all the way and win a championship this season? Put your money where your mouth is and make a wager with a futures bet.

Much like a parlay, a round robin is a series of bets on multiple games. If you were to do a three team round robin, that would be three parlay bets. However, if you lose one bet, you still have a chance to win with the other two, so you’ll likely win something.

If you didn’t get a chance to make a bet before the game started, or if you don’t feel so sure about that sure thing, then you can make a live in-play bet. You can make a wager on the point spread, total, or money line.

When the betting line is established on a game, the oddsmakers determine the favorite and the underdog. The favorite – the team expected to win – will get a minus sign next to its odds, while the underdog gets a plus sign. If the game is a toss-up, it will be shown as a “pick” or “pick’em.”