Straight
Bets
Pick one
team or one event
The payoff
for straight bets for a team to cover the point spread is at
a ratio of $10 for every $11 bet. This means a bettor needs
to pick 52.4% of all games correctly in order to break even
(assuming the bet for each game is exactly the same).
Straight
bets can be made using either the point spread or the "money
line".
Pointspread Bets
As stated
earlier, the "line" is set for each game by the odds
makers. Favorites will have a - (minus) sign followed by a number,
while the underdogs will have a + (plus), followed by a number.
Here's an
example NFL line:
Denver + 7
Kansas City -7
Denver is
the favorite and must win by 8 points or more to win. If they
win by exactly 7 points, the game is a "push" or tie,
and you get the amount of your bet back. If Denver wins by 6
points or less, or loses the game, then those that bet on KC
will win the money.
A lot of
times you'll see a 1/2 point, for example Denver is -7 1/2 points.
This eliminates "pushes" since a team can't score
1/2 a point.
Sometimes
you'll see games where the spread is "Pick" or "PK".
That means the line is 0 and no points are in effect...just
pick the winner.
Point spread
bets can be either "straight" or "parlay"
bets.
Moneyline
Bets
Here, the
point spread isn't a factor, as you only choose the winners
of games. Since not all teams are created equal, everyone would
bet on the best teams. So, the casinos offer benefits for betting
on bad teams, while giving a penalty for betting on the good
teams.
These benefits
and penalties are in the form of odds. Let's take a look at
a typical money line for the Denver/KC game above.
Denver -175
KC +200
Notice the
'+' and '-' signs. The '-' sign for Denver means if you bet
$175 on Denver, as the favorite, you would only win $100 (plus
your original bet). If you took the underdog, KC, and bet $100,
if KC won, you'd win $200 (plus your original bet).
If everything
was totally even, both the + and - numbers should be even. The
differences in these numbers is where the casinos get their
"rake", or profit. In our example, they are taking
in $200, but only paying out $175.
Over/Under
Bets
Here's a
very popular bet among many football gamblers. You're betting
on whether the total points scored by both teams will be more
or less than the number posted.
For example:
Denver/KC: Total = 43
This means
after the game, add up the total points BOTH Denver and KC scored.
If the total is 44 or more and you bet the "over",
you're a winner! But, if both teams scored less than that, you'll
lose your wager.
Your payoff
is also $10 for every $11 wagered, since over/unders are considered
straight bets. However, you can bet an over/under as part of
a parlay.
Parlay
Bets
This is
a bet where more than one event must happen in order for you
to win your bet. Since it's harder to predict multiple events
than it is for a single event, you'll get paid more than "even
money" if you win a parlay.
A parlay
is most often bet using the point spread for two or more games.
Let's use the "lines" for the following two games:
Game 1:
Denver -7
KC +7
Game 2:
Dallas -3
San Fran +3
Our "two
teamer" may be Denver for game one and San Fran for game
two for our "two-team parlay". If Denver wins by 8
points or more AND San Fran either loses by less than 3 points
or wins, then we'll win our parlay. Any other result, and we
lose.
Over/unders
can also be a part of a parlay. Say the over/under is 43 for
the Denver game, we may make a parlay of "Denver and Over"...meaning
if Denver wins by more than 7 points AND all the points scored
in the game by BOTH teams is more than 43 points, we win our
parlay. Or, we can have a four team parlay, betting only over/unders.
Any combinations is fine...You want 3 over/unders and 3 point
spread bets for a 6 teamer? It's all up to you.
It's very
easy to get a couple of parlay's in for a single Monday Night
Football game. Bet the point spread and over/under for the first
half, then another parlay for the point spread and over/under
in the second half. Yes...many online sportsbooks even have
lines and over/unders for each half!!!
Usually,
ties will cause you to lose a parlay, unlike straight bets,
were ties are a push and you get your original wager returned.
There are a few sportsbooks offering "ties win" parlay
cards, but usually give slightly lower payouts in exchange.
Parlays
can offer the gambler some serious excitement, since the payouts
for a multi-team parlay can be very high.
Teasers
A teaser
is very similar to a parlay and is played the same way. The
big difference is that you get to add points to your team's
point spread. In the case of Denver being -7 for a parlay or
a straight bet, we get to add (usually) 6 points for a teaser.
In this case it means Denver is now only -1, instead of having
to win by 7 points.
In exchange
for the extra points, Teasers don't pay odds as high as parlays
give. This translates into more frequent wins, as compared to
parlays, but for less money each win. If you're the type of
person that just wants a little amusement, and wants fewer "ups
and downs"...try a teaser. If you're looking for action
and the "big score", play the parlays.
Future
Bets
At the beginning
of a season, the play-offs, or tournaments, sportsbooks will
give odds for a team or player to be the ultimate winner.
In football,
the Rams were about 4 to 1 at the beginning of the 2001 season
to win the Super Bowl. What a difference a year makes! The year
before, the Rams were something like 250 to 1 ... making them
one of the biggest upset winners in history. Betting $100 on
the Rams to win the 2000 Super Bowl would have won you about
$25,000.
The odds
will change as the season or tournament progresses...but the
odds at the time of your bet will remain in effect.
