Don't let the numbers at the sportsbooks confuse you. Learn all the basics to sports betting on this page along with a few advanced methods. Betting on auto racing has exploded in popularity in Vegas in recent years, and its appeal continues to grow. The structure of betting on auto racing is similar to that of golf.
The most basic wager involves picking the winner of a race. Typically a sportsbook will list 20 or more individual drivers along with a field all others option, at various odds. Auto racing matchup propositions also are available, in which two drivers are paired against each other in a head-to-head wager, with a betting line on each driver set by the oddsmaker.
The driver with the better finish in the race wins the matchup. Both drivers must start for action. For example, a matchup may pit Dale Jarrett minus against Bobby Labonte plus To bet on baseball, tell the ticket writer the bet number of the team you wish to bet and the amount you wish to wager. If your team wins the game, you win. The payout varies according to the odds posted. Baseball odds are shown using a "Money Line. A "minus" - preceding the number indicates the team is a favorite. On Today's Line we use a different format, the idea is the same.
You will not find the odds for the Underdog. The Underdog's odds are based on what the casino has for its line. Most use a "Dime Line" or something close to that. Here are two more examples of a dime line and a cent line. See whether you can tell them apart.
You can arrive at the underdog's price by looking at the favorite's line. Dime lines are slowly disappearing as sports books look to make a larger profit during what is traditionally the slowest betting season. Several books still offer dime lines. Money lines change constantly. The listed money line the time you make your bet may be different from the money line when the game starts. The listed line on your ticket is your official odds, unless starting pitcher is changed.
This is explained later. You may wager that the total score of the game will be more or less than the number listed. It makes no difference which team wins. Simply add the final scores of each team. If either doesn't happen, the bet is refunded. A favorite must win by 2 runs or more, or the underdog must either: a Win the game. The payout varies according to the money line odds assigned to each outcome.
Note: Same rules apply to run line bets as totals. Baseball parlays are figured out by calculating the payout for the first game, based on the money line, then applying that amount to the next game, and so-forth. If a game is postponed for any reason, the parlay reduces by one team. The bet is treated as if the postponed game were never included in the parlay. Simply ask the betting attendant at your favorite sports book what your payout would be before placing the bet.
When making a baseball bet, you are betting team vs. You have the option to specify that either or both listed pitchers must start the game. Since baseball odds are determined on starting pitchers, any late pitching changes often force an adjustment in the odds. This will increase or decrease the payout on a winning ticket.
However, if you list starting pitchers, and your pitcher doesn't start, then the bet is refunded. To bet on basketball, tell the ticket writer the bet number of the team you wish to bet, with the point spread, and the amount you wish to wager. The Point Spread: When betting on basketball, the team you bet on must "cover the spread. The point spread is always placed to the immediate right of the team that is favored. In this example, if you bet the Bulls, the Bulls must win by 4 points for you to win your bet.
If you bet the Lakers, any of the following will declare you a winner. If the Bulls win by exactly 3 points then the wager is declared a push and all money is refunded. Point spreads change constantly. The listed point spread the time you make your bet may be different from the point spread when the game starts. The point spread that is listed on your ticket is your official spread. It makes no difference which team covers the spread.
Simply add the final score of each team. You may combine several teams into one wager. Odds and the number of teams vary from casino to casino. The following are approximate odds:. Any game that results in a push reduces the parlay one team. A two-team parlay would become a straight bet. This increases the probability of winning your bet but decreases the odds of the parlay. Odds and the number of points available to "tease" vary from casino to casino.
To bet on boxing, tell the ticket writer the bet number of the boxer you wish to bet and the amount you wish to wager. Boxing odds are shown using a "Money Line. A "minus" - preceding the number indicates a favorite. Tyson is favored to win the bout. Boxing matches often feature money line proposition wagers on knockouts, draws, rounds and the duration of the fight. Odds vary on each fight. To bet on football, tell the ticket writer the bet number of the team you wish to bet, with the point spread and the amount you wish to wager.
The point spread: When betting on football, the team you bet on must "cover the spread. If you bet the Dolphins, the Dolphins must win by 7 points for you to win your bet. If you bet the Jets, any of the following will declare you a winner. The listed point spread at the time you make your bet may be different from the point spread when the game starts. In some cases, bettors have the option to discard the point spread and bet on which team will win.
This is called betting on the "Money Line". Sports books offer a number of different cards, each one having different rules. Rules for parlay cards are placed on the back of each card. Read them carefully before wagering. The cards are simple to fill out. Simply darken the boxes, or circles, that apply to the teams you wish to parlay.
Then darken the amount you want to bet. Sportsbooks offer bettors the opportunity to wager on the outcome of a season -- for example, which team will win the Super Bowl or the Stanley Cup or the American League East pennant. This is known as "futures book" or "future book" betting. As an illustration, let's look at Super Bowl futures.
For example, the Ravens may be , the Redskins , the Cardinals , etc. It does not matter whether your team covers the point spread in the Super Bowl. For the purposes of future book betting, the team has to win only the Super Bowl. When you make a futures bet, your odds are "locked in.
Futures betting also is offered on the major events in horse racing, such as the Kentucky Derby and Breeders' Cup. In horse racing futures, if your horse does not start the race due to injury or any other reason, you lose the bet -- there are no refunds. On the other hand, the odds on your horse racing futures bet also are "locked in," regardless of the horse's odds on race day.
Some sportsbooks offer futures betting on unusual propositions, such as which major league baseball player will hit the most home runs in the regular season. Note that in this type of wager, all bets are action regardless of injuries or other unforeseen events. This type of wager is typically found on pro football and major league baseball, and sometimes on pro basketball.
The benefit of the parlay is that there are much higher payoffs than placing each individual bet separately, since the difficulty of hitting all of them is much higher. If any of the bets in the parlay lose, the entire parlay loses. If any of the plays in the parlay ties, or "pushes", the parlay reverts to a lower number of teams with the odds reducing accordingly.
Parlay bets are paid out at odds higher than the typical single game bet, but still below the "true" odds. For instance, a common 2-team NFL parlay based entirely on the spread generally has a payout of 2. Aside from "spread" parlays, another way to parlay is to bet on two or more teams simply winning straight up. In order to calculate the payout of this parlay, one must multiply out the payout for all games.
The following is an example of a traditional Las Vegas Parlay Card at William Hill Sports Book, which shows the typical payouts for an up to 10 team parlay bet based on Many gamblers have mixed feelings as to whether or not parlays are a wise play. The best way to analyze if they are profitable in the long term is by calculating the expected value. Since the probability of all possible events will add up to 1 this can also be looked at as the weighted average of the event.
The table below represents odds. In this case a parlay has a much higher expected value than individual bets with greatly increased variance in outcomes. From Wikipedia, the free encyclopedia. Not to be confused with Parley. This article has multiple issues.
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