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SPORTS
WAGERING RULES
Sports Gambling
is done through Sports books (US) or Bookmakers (UK) entities that accept bets.
You can bet on the outcome of several sporting events, such as; Baseball, Basketball,
Football, Tennis, Hockey and Soccer games.
To place a sports bet, you go to a sports book. You could also bet over the
phone with many sports books. Note that a sports book or sportsbook is not the
same as an oddsmaker. The sports book simply accepts sports bets. An oddsmaker
is a person who sets the betting odds.
You need to state what you are gambling on by making a selection, the type of
bet and the amount you are wagering. Your selection will obviously depend on
the odds offered, so you will want to examine the range of odds available before
you make a decision.
There are many types of bets you can place. Some sports books may offer more
betting varieties and combinations than others. Below is a list of the more
common types of bets.
-Straight bet or Single. This is the simplest and most common bet. You bet on
a winner at given odds.
-Point Spread. This bet lets you bet on a winner from two selections who have
been made equal by allocating appropriate points to the underdog team. The Point
Spread is the number of points allocated and is shown with a + sign for the
favorite and a - sign for the underdog. The favorite has to win by more than
the Point Spread for you to win, otherwise you lose your bet even if the team
wins. Inversely, if you bet for the underdog, that team has to lose by less
than the Point Spread for you to win. If the favorite wins by the exact Point
Spread, then it is a push or a tie. You get your bet back. To eliminate a tie
result, the oddsmakers sometimes include a half point spread. Since scores use
full numbers only, one team has to win outright.
-Buy Points. Also, to buy Key Points. Move the Point Spread favorably
at a price.
-The Moneyline. This establishes the odds for each team but inversely proportional
to what would have been a Point Spread, and is indicated by a + for the underdog
and a - sign for the favorite. Say team A is favorite and quoted at -180 and
B is the underdog at + 120. The bets offered would be 10:18 odds-on for the
favorite, and 12:10 for the underdog. For every $180 you bet on A you would
win $100 or lose $180, but for every $100 you bet on B you would win $120 or
lose $100.
- Total. A bet for the number of points scored in the game by both teams combined,
including points scored in overtime.
- Over/Under. A bet that the combined number of points scored by the two teams
in the game will be Over or Under the total set by the oddsmaker.
- Parlay or Accumulator. A multiple bet. A kind of 'let-it-ride' bet. Making
simultaneous selections on two or more games with the intent of pressing the
winnings of the first win on the bet of the following game selected, and so
on. All the selections made must win for you to win the parlay. If a game is
a tie, postponed or cancelled, your parlay is automatically reduced by one selection;
a double parlay becomes a straight bet, a triple parlay becomes a double. A
parlay bet can yield huge dividends if won.
-Teaser. It is like a parlay, but with the option to add or subtract points
(called 'moving the line') from one or more Spread bets. When betting a teaser
additional points are either added to the underdog or subtracted from the favorite.
The odds vary according to the number of points the spread is moved and the
number of teams combined to form the teaser. As in the parlay, all selections
must win for the teaser to win. Teasers odds are usually worse than the parlays.
-If-wager. A bet that allows the bettor to make a second wager, up to an equal
amount, pending a win on the first selection.
-Open Wager. Open wagers allow the bettor to play teasers or parlays making
a selection at different times and even different days.
-Future. A bet on a future event. At the start of each season, the sports books
give out odds for teams to win a certain championship. The odds change as the
game date approaches and in most cases get shorter, but if you win you get paid
at the original odds that you took. This is possibly one of the most profitable
bets if you have considerable knowledge of the sport that you are betting on
including the players, and a good sense of judgement.
-Exotic Bets. Betting on unusual events. Some sports books post odds and take
bets on a wide variety of other sports related events and activities. A few
others will take bets on just about anything you can think of.
-Proposition Bet or Prop Bet. An offer of bets at odds and conditions chosen
by the sports book, usually on 'Exotic' bets.
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