The challenge is to gather and analyze as much information as
you can about a game, weigh the probabilities of each team
winning, and subsequently compare your opinion to the
oddsmaker's. Make the right judgment and you win. It's as simple
as that.
While luck may be a deciding factor in the outcome of any single
game, and will inevitably go against you on occasion, it will
balance out in the long run.
Being a consistent winner in sports betting is not about luck
but whether you are prepared to invest the time and effort to
become knowledgeable about the sports you bet on, whether you
can weigh all the factors in a cool, objective fashion, and
whether you adopt a consistent, disciplined, long-term approach
to your betting. Do all these and you will come out a winner.
Remember, it's you against the oddsmaker, not the bookmaker. The
bookmaker is simply a middle-man who operates on a small profit
margin and, ideally, likes to see half the money wagered on one
team and half on the other, assuring him of a profit. If too
much of the money goes on one team, the bookmaker will move the
line or pointspread to encourage bets on the other team in an
effort to balance his book. The person you are attempting to
beat is the oddsmaker and his views on each team's chances. Just
by flipping a coin you will be right 50 percent of the time. At
odds of 10/11 only 52.4 percent of your bets have to win for you
to overcome the bookmaker's profit and break even, so you only
need a very small edge to become a winner. Do your homework, bet
selectively and 55 percent winning bets is definitely achievable
and 60-65 percent is a realistic target. At those levels you
will have an extremely profitable, as well as enjoyable, hobby.
.
Basic Types of Sports Wagering
Straight
The most common type of sports wager is on the result of a
single game, known as a straight wager. One team is typically
favored over another by a pointspread; the favorite gives the
underdog points as a head start, for betting purposes only. The
favorite is always indicated by a minus sign (-3) and the
underdog by a plus sign (+3). The amount of points a customer
must give or take is estimated to be the amount which will
generate equal wagering on both the underdog and the favorite.
For betting purposes, the result of the game is determined by
taking the actual score and subtracting points from the
favorite's score or adding points to the underdog's score. So, a
favorite can win the game but lose it for betting purposes and
an underdog can lose the game but win it for betting purposes.
Totals
A customer can also bet whether the combined number of points
or goals scored by the two teams in the game will be over or
under the total set by the oddsmaker. For example, if the total
is 42 and you believe that the combined points scored by the two
teams will exceed that number, you would bet over. You would bet
under if you believe the total points score will be less than
42.
Money Line
A bet on a matchup between two teams may be set by a money
line instead of a pointspread. If a matchup is determined by a
money line, like Major League Baseball, then it will cost the
customer more to wager on the favorite. For example, the Atlanta
Braves are a -150 favorite over the Chicago Cubs. In this
example, the customer must lay $150 in order to win $100. If
Atlanta loses, the customer loses $150. However, the customer
could bet on Chicago, in which case the customer would lay $100
in order to win $140 (10 cent line). If Chicago loses, the
customer only loses $100, and if Chicago wins, the customer
would win $140.
.
Exotic Sports Wagers
Parlay
A parlay is a bet on 2 or more
teams or selections. The customer can combine different sports,
pointspreads and money lines. In a parlay your original stake and
winnings are re-invested on the next game and all selections must
be correct - one loss and your parlay loses. In the event of a
push (tie), game cancellation or a pitcher that you have specified
not starting, the parlay reduces to the next lower number, e.g. a
4-team parlay becomes 3-teams. A winning parlay wager will pay
many times more than the initial wager.
.
2
teams
13
/ 5
3
teams
6 / 1
4
teams
10
/ 1
5
teams
20 / 1
6
teams
40
/ 1
7
teams
80 / 1
8
teams
100 / 1
Combination Baseball Payoffs
Decimal Conversion Chart
Because of the moneyline used in
baseball, there are no set payoffs for tying a number of teams
together in parlays.
Payoffs are determined by a simple
formula that changes the money line into a decimal number and
combines it with the other lines in the parlay.
The first step is to change the money
line into its decimal value.
Use this chart for this
purpose.
.
-1.05
= .95
-1.85
= .54
-1.10
= .91
-1.90 =
.53
-1.15 =
.87
-1.95
= .51
-1.20
= .83
-2.00 =
.50
-125
= .80
-2.10
= .48
-1.30
= .77
-2.20 =
.45
-1.35
= .74
-2.30 =
.43
-1.40
= .71
-2.40 =
.42
-1.45
= .69
-2.50 =
.40
-1.50
= .66
-2.60 =
.38
-1.55
= .64
-2.70 =
.37
-1.60
= .62
-2.80 =
.36
-1.65
= .61
-3.00 =
.33
-1.70
= .59
-3.25 =
.31
-1.75
= .57
-3.50 =
.29
-1.80
= .55
-
Max Parlay Payout
2
Teams
Max Payouts
7/1
3
Teams
Max Payouts
15/1
4
Teams
Max Payouts
20/1
5
Teams
Max Payouts
30/1
6
Teams
Max Payouts
50/1
7
Teams
Max Payouts
90/1
8
Teams
Max Payouts
100/1
NOTE: OUR MAX
PAYOFF ON ANY WAGER I.E. Parlay, Future Bets, Horses, etc. is
$50,000.
How to Calculate Baseball Parlays
For each PRICE or ODDS quote on
your teams, look at their respective PAYOFFS above (to $1) and
always add $1 to these payoffs.
Multiply your BET times the products
of these payoffs (+$1) for your parlay return.
Example: Bet $50 on Cardinals (-150)
parlayed to Tigers (-130)
.
BET
x
CARDINALS
x
TIGERS
=
RETURN
.
.
(-150)
.
(-130)
.
-1.90 = .53
$50
x
1.66
x
1.77
=
-1.95
= .51
* RETURN INCLUDES THE $50 BET
Teasers
A Teaser is a bet on 2 or more teams or selections. The
difference between a teaser and a parlay is that in a teaser YOU
ADJUST (tease) THE LINE IN YOUR FAVOR. For example if New York
Giants are favored by 7 points in one game and the Chicago Bears
are favored by 10 points in a second game. A 6 point two team
teaser would adjust the pointspread 6 points in the customers
favor; i.e. New York would now be favored by 1 point (7- 6=1) and
Chicago would now be favored by 4 points (10-6=4). You could make
a 2 Team, 6 point teaser bet with Chicago and New York. In this
example are betting that Chicago will win by more that 4 points
(10-6=4) and New York will win by more than 1 point (7-6=1). In a
case of a tie or push in a two team teaser, your wager is
refunded. ANY LOSS IN A TEASER CONSTITUTES A LOSS FOR THE ENTIRE
WAGER. A tie, or push in a three to seven team teaser will reduce
the wager to the next lowest level. i.e. a 6 team teaser with a
push becomes a 5 team teaser.
IN 3 TEAM 10 Pt. Football Teasers, or 3 Team 8 Pt. Basketball
Teasers, TIES LOSE
IN 4 TEAM 13 point Football Teasers, or 4 Team 10 Pt.
Basketball Teasers, TIES LOSE
Future
A future bet is a wager on an event or outcome that will be
determined sometime in the future. For Example, it might be a bet
made at the start of the season on Dallas Cowboys to win the Super
Bowl. Futures odds change continuously throughout the season - YOU
GET THE ODDS IN EFFECT AT THE TIME YOU BET. Futures bets often
attract (high) odds to the bettor.
If – Win (Single Action)
An If-Win Only wager is also an excellent choice for money
management. You wager a fixed amount on one team if that team wins
the game only, then another fixed amount, up to the original
amount shall be placed on your next team. Your first wager must
win in order for you to have action on the remaining wagers. If
the first wager loses, there is No Action thereafter. You cannot
have duplicate teams in the same If Win wager.
Example
1
Example
2
Example
3
Broncos
-7 Win
Broncos
-7 Win
Broncos
-7 Lose
if win
if
win
if
win
Falcons
-3 Win
Falcons
-3 Lose
Falcons
-3 Win
Stake
$110.00
Stake
$110.00
Stake
$110.00
Win
$200.00
Lose
$10.00
Lose
$110.00
If – Win-Tie-Cancel (Double Action)
An If-Bet wager is an excellent choice for money management.
You wager a fixed amount on one team, and if that team wins, ties,
or is cancelled, then another fixed amount, up to the original
amount shall be placed on your next team. Your first wager must
win, tie, or be cancelled in order for you to have action on the
remaining wagers. If the first wager loses, there is No Action
thereafter. You cannot have duplicate teams in the same If
Win-Tie-Cancel wager.
Example
1
Example
2
Example
3
Broncos
-7 Win
Braves
-150 Cancelled
Broncos
-7 Tie
if
win-tie-cancel
if
win-tie-cancel
if
win-tie-cancel
Falcons
-3 Win
Falcons
-3 Lose
Falcons
-3 Win
Stake
$110.00
Stake
$110.00
Stake
$110.00
Win
$200.00
Lose
$110.00
Lose
$110.00
NOTE: ALL IF-BETS ARE IF WIN (SINGLE ACTION)
UNLESS SPECIFIED AS IF WIN-TIE-CANCEL (DOUBLE ACTION).
.
Reverses
A Reverse wager is the same as two "if win" Bets. If
wager A wins, the bet goes to wager B. If B wins, the bet goes to
wager A. If wager A loses, the bet does not go to wager B. If
wager B loses, the bet does not go to wager A. If wager A wins,
the bet goes to wager B and if wager B loses, the bet does not go
to wager A. A standard reverse bets are Double Action; therefore
in the event of a tie the bet is still active.
Examples:
.
Example
1
Example
2
Example
3
Broncos
-7 Win
Broncos
-7 Win
Broncos
-7 Lose
if win
if
win
if
win
Falcons
-3 Win
Falcons
-3 Lose
Falcons
-3 Lose
Falcons
-3 Win
Falcons
-3 Lose
Falcons
-3 Lose
if
win
if
win
if
win
Broncos
-7 Win
Broncos
-7 Win
Broncos
-7 lose
Stake
$220.00
Stake
$220.00
Stake
$220.00
Win
$400.00
Lose
$120.00
Lose
$220.00
Buying Points
You can move a pointspread up to three, points, in your favor.
You must pay an extra 10% for each half point that the line is
moved. When buying points on or off the pointspread of 3, there is
an additional 10% vigorish. Points cannot be bought on money lines
or half time pointspreads.
Glossary of Terms
Across the board: A method of wagering on a
horse to win, place and show.
Action: A baseball wager where no pitcher is
specified.
Bookmaker/Bookie: A Person who takes wagers on
sporting events.
Chalk: The favored team or horse.
Circled Game: A game where the limits are
lowered, or betting options are restricted, usually due to
injuries.
Cover: To bet the spread by the required
number of points. When you win, you have "covered the
spread".
Dead Heat: When two or more horses finish in a
tie.
Dime: $1,000
Dog: Underdog
Dollar: $100
Even Money: A wager on which neither side lays
any odds or vigorish.
Final 4: The remaining 4 teams in the NCAA
Basketball tournament.
Futures: Bets placed on an event or outcome
taking place some time in the future, e.g. betting during the
season on the SuperBowl winner.
Half A Dolar: $50
Handicapper: One who studies and rates sporting
events.
Hook: A half point.
Juice: The comission the bookie earns.
Lines: Another word for odds.
Lock: Easy Winner.
Money Line: A wager where no pointspread is
involved.
Nickel: $500
Off the Board: A game on which the bookmaker
is not offering at that moment.
Over/Under: A bet on whether the combined
total of the points/goals scored by the two teams will exceed or
be less than a specified number.
Parlay: A bet on 2 or more teams or outcomes
where the original stake and winnings are re-invested on the next
wager. All selections must be correct for the parlay to win. In
the event of a push or a game cancellation, the parlay reverts to
the next lower number, e.g. a 4-team parlay becomes a 3-team
parlay.
Pick'em Game: A game where neither team is
favored.
Pointspread: The handicap, or head start,
which the favorite gives to the underdog for betting purposes.
Price: The odds or pointspread.
Push: A tie.
Spread: An abbreviated form of pointspread.
Steam: A game that has been released by
professional a professional sports betting syndicate.
Teaser: A bet on 2 or more teams where the
line on each team is adjusted in the favor of the bettor. Like a
Parlay, all selections must be correct for the teaser to win.
Total: The combined number of points/goals
scored by the two teams (see over/Under).
